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For Companies At a Glance
- Tasks: Update and run internal models to meet Lloyd’s requirements and support company strategy.
- Company: Fast-growing insurance company with a collaborative and agile culture.
- Benefits: Competitive salary, 25 days holiday, bonus scheme, and professional development support.
- Why this job: Join a dynamic team and make a real impact on capital modelling in a rapidly changing environment.
- Qualifications: Qualified UK actuary or newly-qualified, with strong IT and capital modelling skills.
- Other info: Exciting opportunities for career growth and knowledge sharing across teams.
The predicted salary is between 36000 - 60000 £ per year.
Overview
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.
- 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
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Capital Modelling Actuary employer: IQUW Property Insurance
Contact Detail:
IQUW Property Insurance 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 reach out on LinkedIn. Building relationships can open doors to opportunities that aren’t 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 your skills align with their needs, especially around capital modelling and risk management. We want to see your passion and expertise shine through!
✨Prepare for the Interview
Do your homework before the interview! Understand IQUW’s strategy and how your role as a Capital Modelling Actuary fits into it. Prepare questions that show you’re genuinely interested in contributing to their growth.
✨Apply Through Our Website
Don’t forget to apply directly through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re serious about joining the 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 and any relevant experience with capital modelling, especially in relation to Lloyd’s requirements.
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 collaborative spirit and how you can contribute to the fast-growing environment we’re creating.
Showcase Your IT Skills: Since strong IT skills are essential for this role, don’t forget to mention your proficiency with tools like Tyche. If you have experience in streamlining processes or improving model outputs, make sure to include that too!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets the attention it deserves. Plus, it shows us you’re keen on joining the IQUW team!
How to prepare for a job interview at IQUW Property Insurance
✨Know Your Numbers
As a Capital Modelling Actuary, you’ll need to demonstrate your strong actuarial skills. Brush up on key metrics and Lloyd’s capital requirements before the interview. Be ready to discuss how you've applied these in past roles or projects.
✨Showcase Your IT Skills
Familiarity with Tyche is essential for this role. Make sure you can talk about your experience with it or similar tools. If you’ve implemented any process improvements using technology, share those examples to highlight your problem-solving abilities.
✨Communicate Clearly
Good communication skills are crucial. Practice explaining complex actuarial concepts in simple terms. You might be asked to present your thoughts on model calibration or risk profiles, so clarity and confidence will set you apart.
✨Network Like a Pro
IQUW values collaboration, so be prepared to discuss how you’ve built relationships across teams in previous roles. Think of specific examples where knowledge sharing led to better outcomes, as this shows you’re a team player who aligns with their strategy.