Capital Manager - London

Collinson is a global loyalty and benefits company. We use our expertise and products to craft customer experiences which enable some of the world’s best known brands to acquire, engage and retain the most demanding and choice-rich customers. In particular, our unique expertise and insight into high earning, frequent travellers allows us to create products and solutions for our clients that inspire greater customer engagement to drive more profitable relationships, enrich their travel experiences, protect what matters and assist in times of need. While specialising in Financial Services, Travel and Retail, we also support clients in multiple sectors.

We have worked with over 90 airlines, 20 hotel groups and more than 600 financial institutions and banks, with clients including Accor Hotels, Air France KLM, American Express, British Airways, Cathay Pacific, Diners Club, Mandarin Oriental, Mastercard, Radisson Hotel Group, Sephora, Visa and Vhi. We take our 30 years’ experience working with these kinds of household names in over 170 countries, and help our clients to deliver the smarter experiences it takes to differentiate their propositions, and help them win deeper devotion with their customers.

Collinson is a privately-owned entrepreneurial business with 2,000 passionate people working in 20 locations worldwide. Our solutions include Priority Pass, the world’s best known airport experiences programme, while we are also the trusted partner behind many of the leading financial services, airline and hotel brand’s reward programmes and loyalty initiatives.

Collinson Insurance operates via two insurance companies in the UK and Malta. Our major product lines are Travel Insurance, Private Medical & Dental Insurance, and Miscellaneous Financial products including Gadget, Warranties, and Home and Motor ancillary products. In addition to a long standing, attractive roster of affinity clients which include Vhi in Ireland, Post Office, EasyJet and Saga in the UK, we operate a small direct to consumer brand, Columbus which operates in both the UK and Italy.

The Actuarial team operates across all entities, business models, and all client portfolios – and is responsible for Reserving & Capital. This role will sit on the Actuarial leadership team and relevant committee meetings as part of the insurance entities’ broader system of governance.

Purpose of the job

The primary focus of the actuarial function is to contribute to the successful delivery of the business strategy by providing insightful actuarial analysis, whilst also fulfilling its regulatory responsibilities and ensuring policyholders’ interests are adequately protected. The Capital Manager supports the Head of Capital Management to deliver the capital operations within the actuarial function. The main focus of the role is on developing and embedding a capital management framework, including asset and liability management, and driving continuous process improvement. There is a need to transform the function to be more insight led through better use of technology, automation and more sophisticated analytical techniques.

Key Responsibilities

• Data
• Support the development, updating and maintenance of capital management data sources within Actuarial to ensure the data remains appropriate, accurate and complete, including carrying out appropriate validation checks.
• Identify opportunities and suggest improvements to make better use of data and produce more insightful actuarial analysis.
• Risk & Capital
• Support with the design and implementation of an appropriate investment strategy to maximise returns within an agreed market risk appetite framework.
• Monitor investment performance and work with the Group Treasury team to ensure the strategy is executed effectively.
• Support the implementation and embedding of an effective asset & liability management framework, including matching interest rate risk, currency hedging, etc.
• Support the production of a detailed capital plan, including projecting SII balance sheets and solvency capital requirements as part of the ORSA.
• Support with developing and embedding an effective return on capital (RoC) framework, including working with the lines of business to agree a manageable and effective way to calculate the RoC for new and existing insurance deals.
• Support with producing recommendations on capital optimisation relating to reinsurance purchases, investment strategy, new business strategy, shareholder dividends, etc.
• Support with risk management activities, including designing, building and operating scenario modelling tools to assist with the ORSA.
• Support with the production of documented capital management outputs for sign-off by the Chief Actuary, any relevant committees, and the external auditors (as required).
• Reserving
• Support the quarterly and year-end calculation processes, including providing peer review of analysis when required.
• Other
• Mentor and manage team members, including hiring, training, performance management and quality assurance of their work.
• Automate processes relating to data preparation and transformation, data visualisation, reporting, etc and generate concise summary dashboards to share with the business.
• Support with reinsurer requests for data and respond to queries promptly.
• Ensure professional qualifications and any CPD requirements are adequately maintained.

Knowledge, skills and experience required

• A nearly / newly qualified actuary or qualified by experience.
• Significant non-life capital experience.
• An analytical mindset, commercial awareness and strong written and verbal communication skills.
• An ability to work proactively and autonomously to take ideas from proof of concept through to delivery.
• Able to deputise for the Head of Capital Management where required.