Capital Modelling Actuary

About the Opportunity

ERS Syndicate 218 at Lloyds is managed by Starr. We are the UK’s largest specialist motor insurer with an A+ rating and have been making motoring passions and livelihoods possible since 1946. We work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.

Role Purpose

Support the Capital Modelling Team to maintain and update the internal model for Starr International entities (including both Lloyd’s and non‑Lloyd’s) to meet regulatory and business needs.

Key Responsibilities

• Take ownership of specific areas within the Starr capital model and assist across all areas (model calibration, business support, model development and regulatory reporting).
• Provide line management for the team.
• Build and develop process improvements to streamline inputs, model processes and output reporting.
• Communicate results and analysis clearly within the team and with wider stakeholders.
• Provide reporting and present results to the Internal Model Committee as required.
• Fulfil documentation requirements of the internal model.
• Complete tasks timely and accurately.
• Commit to furthering technical knowledge and understanding.
• Support the validation process as necessary.
• Report any suspicion of financial crime to the Money Laundering Reporting Officer immediately.
• Operate within the Company’s standards for Treating Customers Fairly.
• Manage conflicts of interest to avoid disrepute to the company’s integrity.
• Advise Compliance of any complaints immediately.
• Work with the business to understand the risk profile and update model calibrations to ensure that the model accurately reflects the business profile, including investigating new methods and seeking new data sources.
• Communicate model results to underwriting teams, broaden awareness and promote model use within the business.
• Prepare capital metrics and portfolio analytics to aid business planning and management decision making.
• Gather feedback on modelled results from underwriting teams and management, ensuring it feeds back into the capital modelling process.
• Develop and enhance capital model capabilities to meet evolving regulatory and business needs, including model code changes, building tools to improve processes, and consolidating reports.
• Take key responsibility for model testing to ensure that the model continues to be robust and a reliable business tool.
• Maintain the waterfall steps of the capital model so that Analysis of Change is well understood and documented.
• Prepare Solvency Capital Requirement (SCR) submissions for Lloyd’s and support other entity reporting as necessary.
• Ensure that regulatory submission requirements and deadlines are met.

Regulatory & Compliance

All employees must adhere to all Company policies and procedures that are applicable to their role. You must act with integrity. You must act with due care, skill and diligence. You must be open and cooperative with the FCA, the PRA and other regulators. You must pay due regard to the interests of customers and treat them fairly. You must act to deliver good outcomes for retail customers. Observe proper standards of market conduct.

Starr is an equal‑opportunity employer, which means we will consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and are committed to creating an inclusive environment for all employees. We offer first‑class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.