At a Glance
- Tasks: Support and enhance Lloyd's Internal Model, analysing and improving capital modelling processes.
- Company: Join Lloyd's, the world's leading insurance marketplace, known for innovation and collaboration.
- Benefits: Actuarial study support, flexible working, and opportunities to lead projects.
- Other info: Inclusive environment that values diverse perspectives and promotes professional growth.
- Why this job: Make a real impact in capital modelling while developing your actuarial career.
- Qualifications: Experience in non-life insurance and progress towards an actuarial qualification.
The predicted salary is between 63000 - 77000 £ per year.
Lloyd’s is the world’s leading insurance and reinsurance marketplace, bringing together the world’s leading risk takers to advance global progress. Our strategy is focused on delivering strong underwriting performance, operating an efficient and flexible marketplace, and maximising the capital advantage of the Lloyd’s market — while continuing to build a Lloyd’s we are proud of.
As an Actuarial Associate in our Capital Modelling team, you'll help maintain and enhance the Lloyd's Internal Model (LIM), the foundation of capital decision-making across the market. You'll work alongside experienced actuaries, contribute to high-profile projects and play an active role in analysing, challenging and improving the models that support Lloyd's strategic decisions. This is a broad role that offers exposure across multiple areas of capital modelling, including market-wide capital requirements, member capital, model validation, parameterisation and regulatory reporting. You'll also have the opportunity to lead elements of work, mentor junior colleagues and influence how modelling insights are used across the business. This role will be on a fixed term contract basis.
What you’ll be doing:
- Supporting the development and annual delivery of the Lloyd's Internal Model.
- Analysing and challenging model outputs to understand key drivers of change.
- Contributing to model validation activity and continuous improvement initiatives.
- Producing market-wide, syndicate and member capital requirements.
- Investigating differences between Lloyd's assessments and syndicate views of risk.
- Supporting analysis following major loss events and emerging market developments.
- Testing and implementing model enhancements and refinements.
- Contributing to the annual parameterisation process across insurance, market, credit and operational risks.
- Maintaining high-quality model documentation that supports governance and regulatory requirements.
- Guiding and supporting junior colleagues across projects and technical workstreams.
What you’ll bring:
- Experience within non-life insurance, ideally with exposure to capital modelling.
- Progress towards an actuarial qualification, with Core and Business exams completed or equivalent progress demonstrated.
- Strong technical and analytical skills, with the ability to deliver complex work and communicate findings clearly.
- Experience using actuarial and capital modelling tools such as Tyche, Remetrica, Igloo or similar.
- Knowledge of programming languages such as R, Python or equivalent.
- The confidence to challenge assumptions constructively and think creatively about solutions.
- Experience reviewing, coordinating or supporting the work of others.
- A collaborative approach and the ability to build strong working relationships across teams.
Why Lloyd's?
This is your opportunity to work on some of the most sophisticated capital modelling challenges in the insurance market. You'll gain exposure to a unique global marketplace while working with industry-leading experts who value fresh thinking, innovation and continuous improvement. You'll be supported to grow your career through significant actuarial study support, exposure to complex, market-leading capital models, opportunities to lead projects and broaden your technical expertise, a collaborative environment where knowledge sharing is encouraged, and flexible ways of working that help you perform at your best.
Being inclusive at Lloyd’s is integral to how we work — and how we deliver impact. We aim to build a diverse, inclusive environment that reflects the global markets we serve, where everyone is treated with dignity and respect and supported to reach their full potential.
Actuarial Associate in London employer: Lloyd’s Europe
At Lloyd's, we pride ourselves on being an exceptional employer, offering a dynamic work environment in the heart of London. Our commitment to employee growth is evident through continuous professional development opportunities and a culture that values diversity and inclusion, ensuring every voice is heard. Join us to tackle complex global challenges alongside industry experts while contributing to a marketplace that prioritises integrity and innovation.
StudySmarter Expert Advice🤫
We think this is how you could land Actuarial Associate in London
✨Tap into Local Agencies
For temporary roles like the one at Lloyd’s Europe, don't overlook local recruitment agencies that specialise in the insurance sector. They often have inside info on your local market and can help you get your foot in the door quicker!
✨Seasonal Opportunities Are Gold
Insurance companies often ramp up staffing for specific seasons, especially during peak times like annual policy renewals. Keep an eye out for those temporary gigs and be ready to jump in. Make sure you’re on our website regularly to catch those listings!
✨Network with Industry Pros
Join insurance-focused online platforms and forums to connect with professionals who can share insider tips about temporary roles. Attend local industry meetups or workshops to widen your network; sometimes it’s all about who you know!
✨Showcase Your Flexibility
For temp roles, employers are often looking for candidates who can hit the ground running. Highlight any previous experience you have in fast-paced environments on your profile or during interviews, so Lloyd’s Europe knows you can adapt quickly to their needs!
We think you need these skills to ace Actuarial Associate in London
Some tips for your application 🫡
Highlight Relevant Certifications:In the insurance world, having the right qualifications can set you apart. If you've got any certifications like Cert CII or other relevant credentials, make sure they're front and centre on your CV. It shows you're committed to the industry and ready to hit the ground running!
Showcase Your Customer Service Skills:Insurance is all about helping clients through tricky times. Use your application to mention your previous customer service experience or soft skills like problem-solving and empathy. These are crucial for any temporary role in the insurance sector, so don’t shy away from flexing these muscles!
Tailor Your CV for the Temp Role:For a temporary position, it's all about demonstrating your ability to adapt quickly. Tailor your CV to highlight experiences that show you can jump in and make an impact immediately. Mention short projects, freelance gigs, or any fast-paced roles that show you thrive in dynamic environments.
Be Clear About Availability:In your cover letter, clearly state your availability for the temporary role. Since this is a short-term gig, emphasising your flexibility and readiness to start immediately can really catch Lloyd’s Europe's eye. Remember, they need someone who can fit right in, so make it easy for them to see you as that person!
How to prepare for a job interview at Lloyd’s Europe
✨Master the Basics of Underwriting
Since you're aiming for a temporary role in insurance, brush up on the basic principles of underwriting. Be ready to discuss how you would assess risks and make simple decisions on policy issuance, as these are likely to come up in technical questions.
✨Familiarise Yourself with Relevant Regulations
Insurance is heavily regulated, so it helps to be familiar with key regulations that affect the industry. Bring up any specific legislation you're aware of and how it could impact your work at Lloyd’s Europe. This shows you're engaged and knowledgeable.
✨Highlight Your Flexibility
As it's a temporary position, it's crucial to stress your adaptability. Talk about previous experiences where you had to pick up new tasks quickly or adjust to changing needs. Employers will appreciate your willingness to jump in and get the job done without a long onboarding process.
✨Prepare to Discuss Claims Processing
Be ready to dive into discussions around claims processing, as this might be a big part of your role. Bring along examples of how you've approached problem-solving in past roles, especially if you've dealt with customer claims or insurance queries before. It's a great way to show your relevant experience.
