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- Tasks: Conduct capital reviews and assess risks for Lloyd's syndicates.
- Company: Join Lloyd's, the leading insurance marketplace with a focus on innovation.
- Benefits: Enjoy flexible working, health perks, and support for your professional growth.
- Why this job: Make a real impact in a dynamic environment while building a braver future.
- Qualifications: Experience in risk modelling and strong communication skills are essential.
- Other info: Diversity and inclusion are key; we support your work/life balance.
The predicted salary is between 60000 - 80000 ÂŁ per year.
Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world. Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.
Lloyd’s are seeking to recruit a Credit Specialist (Capital Oversight). Within this role you will need to demonstrate technical expertise and management of work areas within the Capital Oversight team. The role will focus on oversight in relation to current and prospective Lloyd’s syndicates with material exposures to Credit classes. The role will also require more general Capital oversight, across non-credit syndicates and all capital risk-types, depending on team resourcing.
Principal Accountabilities- Syndicate Capital Reviews - General
- Independently conduct reviews of syndicate-level capital, including:
- Assessing capital requirements across key risk areas such as premium, reserve, market, credit, and operational risks, as well as diversification and dependency assumptions.
- Evaluating key metrics (e.g., movement metrics and benchmarks) and critically reviewing syndicates’ justifications, which may involve analysis of validation results including quantitative testing performed such as sensitivity testing, back-testing and stress and scenario testing.
- Reviews will include annual reviews of syndicate capital, major model change reviews, deep dive reviews, governance reviews and reviews of internal model applications (IMAPs). In addition, they will include capital reviews of new entrants to the Lloyd’s market, for example for syndicates setting capital using the Lloyd’s Standard Model. There may also be the opportunity to contribute to thematic reviews.
- The Credit Specialist will also be required to perform capital oversight for other non-credit syndicates as required.
- Notwithstanding the above, owing to the nature of credit insurance risk exposures, reviews would typically be focused on premium risk (for credit classes), market risk, and the dependency between premium and market risks.
- Evaluating key metrics (e.g., movement metrics and benchmarks) and critically reviewing syndicates’ justifications, which may involve analysis of validation results including quantitative testing performed such as sensitivity testing, back-testing and stress and scenario testing.
- Reviewing and challenging the appropriateness of key methods, assumptions and expert judgements in syndicate scenario submissions.
- Reviewing syndicates against the Capital Principle of the Principles of Doing Business at Lloyd’s and support Class of Business Review and Assurance (COBRA) reviews of systemically relevant syndicates writing Credit risk products and specifically, Significant Risk Transfers (SRTs) and Credit risk Transfers (CRTs).
- Assist the Lloyd’s Internal Model team in how to aggregate credit exposures across syndicates to capture risk to the Lloyd’s Central Fund.
- Partner with Underwriting Performance to share insights from syndicate model validations, supporting their wider activities to model volatility.
- Interact with external stakeholders, including being a designated point of contact for managing agents, which includes interaction with managing agent actuarial teams matters arising as part of capital oversight.
- Present findings and recommendations to the Actuarial Oversight Review Group (AORG) and other senior stakeholders, articulating conclusions on capital model assessments and syndicate capital adequacy, and effectively responding to challenges.
- Liaise with the Head of Specialty and with internal teams as required as part of capital review or other oversight activity. This would include collaboration with Syndicate Performance, Exposure Management, Treasury & Investment Management and Outwards Reinsurance to ensure consistent and co-ordinated approaches.
- Be the Capital Oversight representative for Credit internal and external working parties helping to influence Lloyd’s oversight approaches in this area.
- Contribute to communications and/or briefings with the market and the regulator.
- Assume project leads responsibilities, managing these projects to successful delivery.
- As required, manage work areas within the wider actuarial team including those in relation to the Lloyd’s Internal Model.
- Expertise in modelling risk arising from credit products including Contract Frustration, Single Situation Credit, Whole Turnover Trade Credit, Financial Guarantee, Mortgage Indemnity, Surety Bond Reinsurance and Significant Risk Transfers.
- Experience in the methodologies, assumptions and validation of Economic Scenario Generators.
- Familiarity with the approaches and techniques used for the modelling and validation of Credit Risk using Internal Models under the Basel regulatory framework.
- Significant experience in non-life insurance and capital modelling is preferable.
- Knowledge of actuarial techniques and regulatory frameworks relevant to capital oversight.
- Experience in delivering complex work output, including supervising work, and communicating this to an audience.
- Ability to design and implement analytical approaches to address specific questions and suggest solutions to any practical barriers to the completion of analysis, drawing on experience from related work areas.
- Project management skills with experience in delivering complex initiatives.
- Excellent communication and stakeholder management skills, able to influence and collaborate effectively.
- Familiarity with IT tools (Excel, SharePoint etc.).
- Qualified actuary with capital experience (Desirable not essential).
Diversity and inclusion are a focus for us – Lloyd’s aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development.
We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc.). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.
By choosing Lloyd’s, you’ll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.
Credit Specialist (Capital Oversight) employer: Lloyd
Contact Detail:
Lloyd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Credit Specialist (Capital Oversight)
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those at Lloyd’s. A friendly chat can open doors that a CV just can’t.
✨Tip Number 2
Prepare for interviews by knowing your stuff! Brush up on capital oversight and credit risk topics. Show them you’re not just a candidate, but the candidate they need.
✨Tip Number 3
Don’t forget to follow up after interviews! A quick thank-you email can keep you fresh in their minds and show you’re genuinely interested in the role.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen. Plus, it shows you’re keen on being part of the Lloyd’s family.
We think you need these skills to ace Credit Specialist (Capital Oversight)
Some tips for your application 🫡
Show Your Passion: When writing your application, let your enthusiasm for the role and the company shine through. We want to see how your values align with ours at Lloyd’s, so don’t hold back on sharing why you’re excited about building a braver future together!
Tailor Your CV: Make sure your CV is tailored specifically for the Credit Specialist role. Highlight your relevant experience in capital oversight and credit risk management, and use keywords from the job description to catch our eye. We love seeing how your skills match what we’re looking for!
Be Clear and Concise: Keep your application clear and to the point. Use bullet points where possible to make it easy for us to read through your qualifications and experiences. Remember, we appreciate straightforward communication, especially when it comes to complex topics like capital modelling.
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 without any hiccups. Plus, you’ll find all the info you need about the role and our company culture right there!
How to prepare for a job interview at Lloyd
✨Know Your Numbers
As a Credit Specialist, you'll need to be comfortable with capital requirements and risk metrics. Brush up on your understanding of premium, reserve, market, and operational risks. Be ready to discuss how you would assess these areas during the interview.
✨Showcase Your Analytical Skills
Prepare to demonstrate your analytical prowess by discussing past experiences where you've conducted capital reviews or worked with economic scenario generators. Bring examples of how you've tackled complex problems and the methodologies you used.
✨Communicate Effectively
Since you'll be interacting with various stakeholders, practice articulating your thoughts clearly. Think about how you would present findings to senior stakeholders and be prepared to answer questions about your conclusions and recommendations.
✨Emphasise Team Collaboration
Lloyd’s values teamwork, so highlight your experience working in collaborative environments. Be ready to discuss how you've partnered with different teams in the past and how you can contribute to a cohesive approach within the Capital Oversight team.