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For Companies At a Glance
- Tasks: Maintain and run the IQUW capital model, ensuring compliance with regulatory requirements.
- Company: Join IQUW, a leading specialty (re)insurer at Lloyd’s with a collaborative culture.
- Benefits: Enjoy a competitive salary, 25 days holiday, and professional development support.
- Other info: Hybrid working model with excellent career growth opportunities.
- Why this job: Make a real impact in the insurance industry while working with cutting-edge technology.
- Qualifications: FIA qualified actuary with strong IT skills and capital modelling experience.
The predicted salary is between 36000 - 60000 £ per year.
About us
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast. ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it’s a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn’t enough. That’s why 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.
The role
Responsible for maintaining and running parts of the IQUW capital model to meet regulatory and internal stakeholder requirements. Assist the Managing Agency Head of Capital in providing support to the Board and senior management in matters relating to capital requirements and business uses for the capital model. Maintain the data sets and processes necessary to operate the model. We are looking for a collaborative, determined, and agile candidate to maintain and adapt the internal model and underlying processes to reflect the rapidly changing risk profile of the company. We currently operate a hybrid working model. This entails 3 days per week collaborating with colleagues in the office, and 2 days working from home.
Key responsibilities
- Support the Capital Modelling Team to maintain and update the internal model to meet Lloyd’s capital requirements and business needs.
- Work with the business to update model calibration.
- Build and develop process improvements to streamline inputs, model processes and output reporting.
- Updating data and parameters in the internal model, running the model and sense-checking outputs.
- Develop the internal model to meet the changing needs of the business and of Lloyd’s.
- Contribute to solving problems arising from running and changing the model, and assume key responsibility in testing the model, including being able to make model code changes.
- Fulfil documentation requirements of the internal model.
- Meet Lloyd’s submission requirements and deadlines.
- Support business uses of the capital model.
- Support the validation process as necessary.
Qualifications, skills and experience
- Actuarial skills at the level of an FIA qualified UK actuary.
- Strong IT skills, knowledge of Tyche strongly preferred.
- Capital modelling experience and knowledge, including both Lloyd’s and Solvency II requirements.
- Knowledge of general insurance, including property and specialty lines of business.
- Strong communication skills.
Benefits
- Competitive Benchmarked Salary
- 25 days holiday
- Discretionary bonus scheme
- Employee assistance programme
- Annual holiday buy (up to 3 extra days)
- Salary sacrifice benefits
- Annual benefits reviews
- The option for professional qualifications and study support
Additional Information
A full job description can be seen here.
Capital Modelling Actuary employer: IQUW Group
Contact Detail:
IQUW Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Capital Modelling Actuary
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, or even hit up LinkedIn. The more you engage with others, the better your chances of hearing about job openings before they’re even advertised.
✨Show Off Your Skills
When you get the chance to chat with potential employers, don’t hold back! Share specific examples of how you've tackled challenges in capital modelling or improved processes. This is your time to shine and show them what you can bring to the table.
✨Tailor Your Approach
Every company is different, so make sure you tailor your conversations to fit IQUW’s values and needs. Research their projects and challenges, and come prepared with ideas on how you can help them adapt their capital model to meet changing requirements.
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining our team at IQUW.
We think you need these skills to ace Capital Modelling Actuary
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 actuarial qualifications, especially if you're FIA qualified, and any relevant capital modelling experience you have.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for IQUW. Mention your strong IT skills and familiarity with Tyche, as well as your understanding of Lloyd’s and Solvency II requirements.
Showcase Your Communication Skills: Since strong communication is key in this role, make sure to demonstrate your ability to convey complex ideas clearly in your application. Use examples from your past experiences where you've successfully communicated with stakeholders.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets to us quickly and efficiently. Plus, you’ll find all the details you need about the role and our company!
How to prepare for a job interview at IQUW Group
✨Know Your Numbers
As a Capital Modelling Actuary, you'll need to be comfortable with data and numbers. Brush up on your actuarial skills and be ready to discuss specific examples of how you've used data in previous roles. This will show your potential employer that you can handle the technical aspects of the job.
✨Understand the Business
Familiarise yourself with IQUW's products and the unique challenges they face in the insurance market. Being able to discuss how your skills can help meet their capital modelling needs will demonstrate your genuine interest in the role and the company.
✨Prepare for Technical Questions
Expect questions about capital modelling, Lloyd’s requirements, and Solvency II regulations. Review key concepts and be prepared to explain them clearly. This will not only showcase your expertise but also your ability to communicate complex ideas effectively.
✨Show Your Collaborative Spirit
IQUW values collaboration, so be ready to share examples of how you've worked effectively in teams. Highlight your adaptability and willingness to support others, especially in a hybrid working environment where communication is key.