At a Glance
- Tasks: Conduct risk and capital analysis for Lloyd’s syndicates and develop internal models.
- Company: Join Chaucer, a forward-thinking company in the insurance sector.
- Benefits: Flexible working options, competitive salary, and opportunities for professional growth.
- Other info: Collaborate with diverse teams and engage with senior stakeholders.
- Why this job: Make a real impact in a dynamic environment while developing your actuarial skills.
- Qualifications: Qualified or near-qualified actuary with experience in general insurance and capital roles.
The predicted salary is between 55000 - 70000 £ per year.
Provide risk and capital analysis (regulatory and economic) for Chaucer’s managed Lloyd’s syndicates. Delivery of the syndicate SCR, taking responsibility for specific areas of the internal model, producing and validating model outputs. Involved in model and MI development as well as use of the capital model throughout the business. Opportunities to liaise and form close working relationships with the wider business. Communication and presentation of analysis and results to key internal (incl. senior management) and external stakeholders (incl. the parent company and regulator).
Main duties
- Assist in the production and delivery of regulatory and economic capital requirements (SCR / ECA / Standard Formula) for all Chaucer managed syndicates;
- Run capital models to understand capital implications of business decisions as required;
- Produce and develop management information for the interpretation and presentation of modelled results to various groups within Chaucer, including Risk and Model Working Groups and ad-hoc forums with senior management as required;
- Assist in the ongoing development (incl. Igloo coding) and parameterisation of the Internal Model whether as a result of issues raised internally, or by regulators / (independent) validators, or as a result of changes in risk profile / industry best practice;
- Support validation of model outputs;
- Assist in the assessment, escalation and actioning of limitations in capital modelling methodologies, processes and results;
- Assist in the maintenance of Internal Model documentation in line with Solvency II / UK tests and standards;
- Adhere to controls over all key capital modelling processes;
- Assist in the ongoing compliance of the Internal Model with relevant Solvency II / UK standards, UK and international regulations, and professional guidance, including maintenance of documentation and adherence to controls;
- Assist the Head of Capital Modelling on the liaison with Lloyd’s and the PRA regarding technical elements of SCRs and the ORSA;
- Assist the Risk function in the production of the ORSA, including analysis of risk aggregations and changes in risk profile, as well as stress and scenario testing;
- Work closely with the Risk function and the business to advise on the integrated use of the Internal Model in risk management processes across the Group, including the adequacy and efficacy of risk mitigation techniques and advising the business on the optimisation of financial risk profile based on capital efficacy and risk-reward relationships (e.g. investment strategy, business portfolio mix, new classes of business, divestments).
Our requirements
Relevant experience
Essential
- General Insurance Actuarial
- Working in a Capital, Pricing or Reserving role
- Parameterisation of stochastic underwriting or reserving risk
Desirable
- Stochastic modelling of insurance and other risks
- Formal experience of managing people and complex projects
- Presenting to and communicating with senior stakeholders (written and verbal)
Skills
Essential
- Advanced user of Word, Excel and PowerPoint
- Computer programming (VBA, SQL, Python and / or other languages)
- Strong data manipulation ability
- Proactive approach to continuous improvement, with a focus on enhancing processes, automation, and modelling methodologies
Desirable
- Igloo coding (or equivalent modelling software)
- Understanding of the Solvency II / UK / Lloyd’s framework
Education & Experience
Essential
- Qualified or near‑qualified actuary (IFoA)
Desirable
- Statistical qualifications
- Enterprise Risk Management / CERA examination pass or equivalent
Personal skills
- Comfortable working in a dynamic and evolving environment, with ability to adapt quickly to changing priorities.
- Aptitude for managing and delivering complex projects.
- Analytical.
- Hard working and committed to delivery of high-quality output.
- Ability to work in a team.
- Ability to follow instructions and provide constructive challenge.
- Flexibility and adaptability.
- Able to liaise with staff at different levels of seniority and in different teams.
- Self‑motivated and proactive.
- Good verbal and written communication skills.
Equal Opportunity Statement
Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics outlined in the Equality Act 2010 (UK legislation).
Flexible Working
We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.
Capital Modelling Actuary in London employer: Chaucer
Chaucer is an exceptional employer that fosters a collaborative and innovative work culture, particularly for the Capital Modelling Actuary role. With a strong commitment to employee development, we offer opportunities for professional growth through close collaboration with senior management and exposure to key stakeholders. Our flexible working arrangements and dedication to diversity ensure a supportive environment where every team member can thrive and contribute meaningfully to our managed Lloyd’s syndicates.
StudySmarter Expert Advice🤫
We think this is how you could land Capital Modelling Actuary in London
✨Tip Number 1
Network like a pro! Reach out to current or former employees at Chaucer on LinkedIn. A friendly chat can give us insider info and might just get your foot in the door.
✨Tip Number 2
Prepare for those interviews! Brush up on your capital modelling knowledge and be ready to discuss how you can contribute to the team. We want to see your passion for the role!
✨Tip Number 3
Show off your skills! Bring examples of your previous work, especially any projects involving stochastic modelling or regulatory compliance. We love seeing how you tackle challenges.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows us you’re genuinely interested in joining our team.
We think you need these skills to ace Capital Modelling Actuary in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the skills and experiences that match the Capital Modelling Actuary role. Highlight your experience in general insurance actuarial work and any relevant programming skills, as we want to see how you can contribute to our team.
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about capital modelling and how your background aligns with our needs. Don’t forget to mention your ability to communicate complex ideas clearly, as this is key for us.
Showcase Your Analytical Skills:In your application, emphasise your analytical abilities and experience with data manipulation. We’re looking for someone who can dive deep into capital models and present findings effectively, so make sure to include examples of your past work.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team!
How to prepare for a job interview at Chaucer
✨Know Your Numbers
As a Capital Modelling Actuary, you'll be dealing with complex data and models. Brush up on your understanding of capital requirements, SCR, and ECA. Be ready to discuss how you've used these in past roles or projects, as this will show your expertise and confidence.
✨Showcase Your Communication Skills
You'll need to present your analysis to senior management and other stakeholders. Prepare examples of how you've effectively communicated complex information in the past. Practise explaining technical concepts in simple terms, as this will demonstrate your ability to engage with non-technical audiences.
✨Demonstrate Your Technical Proficiency
Familiarise yourself with the tools and programming languages mentioned in the job description, like VBA, SQL, and Python. Be prepared to discuss specific projects where you've applied these skills, and consider bringing along examples of your work to showcase your capabilities.
✨Emphasise Your Teamwork and Adaptability
This role requires collaboration across various teams. Share experiences where you've successfully worked in a team setting, especially in dynamic environments. Highlight your flexibility and how you've adapted to changing priorities, as this will resonate well with the interviewers.
