Capital Modelling Actuary in London

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 involves maintaining and running parts of the IQUW capital model to meet regulatory and internal stakeholder requirements. You will 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. Additionally, you will 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, which 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.
• Update data and parameters in the internal model, run the model and sense-check 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

A full job description can be seen here.