FTC Senior Capital Actuary in London

The Senior Capital Actuary will be responsible for supporting the Head of Capital and Chief Actuary to maintain, further develop and use Flood Re’s capital modelling capabilities with the primary focus of fulfilling Flood Re’s goals in the following areas:

• Financial and Capital Requirement Projection and Reporting
• Strategic Model uses including business planning and reinsurance analysis as well as the annual ORSA stress and scenario testing and Parliamentary review of key business and scheme parameters.

The role will work closely with the Head of Capital and the Chief Actuary and will be responsible for the day-to-day operation and strategic use of the capital model. You will be working within a team of experienced capital modellers who are at the very heart of Flood Re’s financial assessments and strategic activity. The Flood Re Capital Model is heavily utilised across the business from typical annual / triennial activities such as business planning and reinsurance programme assessments to more ad-hoc uses to support Flood Re’s Quinquennial Parliamentary Review and 2039 Transition Activity.

Support the ongoing maintenance and development of the Flood Re Partial Internal Model in line with Solvency UK (SUK) and IFRS reporting standards, including overseeing SCR and Standard Formula submissions. Enhance and adapt the model by incorporating innovative methodologies and aligning it with evolving market conditions.

Facilitate the effective use of the capital model across key strategic initiatives, including business planning, reinsurance analysis, parliamentary reviews of core parameters, and other critical risk areas. Apply the model and its outputs to address ad hoc business needs and strategic questions, including post-event financial assessments (e.g. flood events), investment portfolio changes, and adjustments to scheme design.

Produce and communicate model outputs for a wide range of stakeholders, supporting areas such as strategy, business planning, reinsurance purchasing, capital management, risk appetite monitoring, and ORSA. Prepare clear materials and present findings to relevant risk owners across the business.

Support the Head of Capital and Chief Actuary in managing relationships with key internal and external stakeholders, including external model validators, the PRA, GAD, and the UK Government. Ensure high standards of data integrity and accuracy by identifying, measuring, and resolving data quality issues, and clearly communicating anomalies to management.

Act as a key point of contact within the actuarial team for capital modelling and financial projection queries, promoting collaboration and effective information sharing. Work collaboratively with other members of the wider actuarial teams (Reserving, Cat modelling & Climate, Exposure Management) to share knowledge, discuss key assumptions and model outputs that relate to their areas of expertise. Strive to maintain effective feedback loops to support credible and robust work across the actuarial teams for the business.

Proactively identify opportunities to streamline processes, address modelling and data limitations, and introduce innovative, solution-oriented approaches. Support the Head of Capital in producing, reviewing, and challenging analyses to ensure the robustness and appropriateness of conclusions drawn.

Work closely with the Head of Capital to ensure all reporting is delivered within agreed timelines and meets required quality standards. Ensure the timely delivery of capital model outputs to support annual and half-yearly capital assessments, any required regulatory model change approval processes, ORSA, and stress and scenario testing.

Ensure all actuarial activities comply with corporate policies, regulatory requirements, and relevant professional standards, escalating concerns and seeking guidance where necessary. Deliver actuarial work efficiently while upholding Flood Re’s public accountability commitments.

Knowledge and Experience

• Good knowledge and experience of General Insurance and / or Reinsurance.

Technical & Analytical Skills

• Strong quantitative ability – deep understanding of stochastic modelling, probability, and statistical techniques.
• Capital modelling expertise – experience with internal models, SCR calculations, and regulatory frameworks (e.g. Solvency UK / Solvency II).
• Data literacy – ability to handle, clean, and interpret large datasets while ensuring data quality and integrity.
• Superior IT skills – knowledge of ReMetrica modelling platform, excellent knowledge of Microsoft Excel, python (or similar programming language).
• Attention to detail – precision in modelling assumptions, outputs, and documentation.

Commercial & Strategic Insight

• Business acumen – understanding how capital models inform strategic decisions like reinsurance, pricing, and investment.
• Risk awareness – ability to identify, quantify, and communicate risks in a clear and practical way.
• Forward-thinking mindset – anticipating emerging risks, regulatory changes, and market developments.

Communication & Stakeholder Management

• Clear communication – translating complex technical results into actionable insights for non-technical stakeholders.
• Influencing skills – confident in presenting and defending model outputs to senior management and regulators.
• Collaboration – ability to work closely with other actuarial teams, finance, risk, operations, internal audit and external stakeholders.

Professional Judgment & Governance

• Critical thinking – willingness to challenge assumptions, methodologies, and results.
• Professional scepticism – not accepting outputs at face value; validating and stress-testing results.
• Strong governance mindset – understanding model validation, documentation, and regulatory expectations.
• Ethical integrity – adherence to actuarial standards and public responsibility.

Delivery & Mindset

• Problem-solving orientation – proactive in addressing modelling limitations and data issues. Uses initiative to find solutions and approaches problems with curiosity and open mindedness.
• Efficiency and organisation – ability to manage deadlines (e.g. ORSA, regulatory submissions) while maintaining quality. To focus on relevant detail, without losing track of business needs.
• Adaptability – openness to new methodologies and evolving regulatory landscapes. Ability to think around a question from the business and how the capital model and its outputs could be leveraged to support further understanding and strategic direction.
• Continuous learning – commitment to keeping skills and knowledge up to date. Understands own knowledge limitations and seeks support appropriately.