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- Tasks: Support the Capital Modelling team in developing and maintaining the Economic Capital Model.
- Company: Join a leading global insurance provider with a focus on integrity and collaboration.
- Benefits: Competitive salary, flexible working, and family-friendly policies.
- Why this job: Make an impact in a dynamic environment while growing your career in insurance.
- Qualifications: Graduate with strong numerical skills; programming experience is a plus.
- Other info: Opportunities for professional development and a diverse workplace culture.
The predicted salary is between 40000 - 50000 £ per year.
As a leading provider of insurance and reinsurance with worldwide operations, we recognise that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry.
We are recruiting for a Capital Modelling Analyst to join us! This role will support the Sompo Capital Modelling team in the design, development, implementation, maintenance and use of the Sompo Economic Capital Model (ECM).
This role includes:
- Assisting in the delivery and analysis of results
- Assisting in the communication with key stakeholders
- Fulfilment of regulatory requirements
Key Accountabilities:
- Supporting the production of ECM deliverables to various regulatory entities relevant to Sompo, including the PRA, Lloyd’s of London, and the BMA as well as rating agencies
- Supporting the entity-level business planning and reforecasting processes, including the production of capital calculations and associated exhibits, including explanations of movements from both a technical and ‘real-world’ perspective
- Compliance with the ECM’s operational control processes and other processes deriving from Internal Model policies and proactively seeking to improve existing controls and processes
- Working with other Sompo teams responsible for providing data to the Capital Modelling team to ensure adequate data quality and active management and resolution of issues and timetable constraints
- Accurate and timely processing of data feeds, analysis, and other information for use as inputs into the Sompo ECM
- Assisting with elements of the development, maintenance and regular update of the ECM including development of methodologies and model coding, parameter reviews and exposure analysis
- Supporting the production of analysis and commentary to aid risk reporting to Sompo’s committees and boards
- Completion and sign-off of elements of production control dashboard in line with requirements of Sompo ECM Operational Control Framework
- Successful implementation of elements of agreed model developments, parameter updates, and exposure updates in line with agreed model change protocols
Knowledge, Skills and Experience:
- Knowledge of basic insurance concepts
- Knowledge of Capital Modelling techniques and analysis (Tyche or Igloo knowledge highly desirable), including application to Solvency II or equivalent regimes
- Graduate with a 1st or Upper 2nd (2:1) degree from a top-tier university, in a subject involving a high level of numerical or quantitative content
- Ideally experience of actuarial work in the non-life insurance sector
- Strong communication skills, both oral and written
- High degree of proficiency dealing with quantitative concepts, with a strong analytical and problem-solving approach
- Proactive approach to improving processes and challenging the status quo
- Experience of programming highly desirable (e.g. VBA, SQL)
Pricing Analyst employer: Sompo
Contact Detail:
Sompo Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing Analyst
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those at Sompo International. A friendly chat can open doors and give you insights that a job description just can't.
✨Tip Number 2
Prepare for interviews by practising common questions related to pricing analysis and capital modelling. We recommend using real-world examples from your experience to showcase your skills and knowledge.
✨Tip Number 3
Show off your analytical skills! Bring along any relevant projects or case studies that demonstrate your ability to handle data and solve problems. This will help you stand out as a candidate who can contribute to Sompo's success.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you're genuinely interested in joining our team at Sompo International.
We think you need these skills to ace Pricing Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Pricing Analyst role. Highlight relevant experience and skills that match the job description, especially your knowledge of capital modelling techniques and insurance concepts.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about the role and how your background aligns with Sompo's values of integrity and collaboration. Keep it concise but impactful!
Showcase Your Analytical Skills: Since this role involves a lot of data analysis, be sure to include examples of how you've successfully tackled quantitative problems in the past. Mention any programming skills you have, like VBA or SQL, as they’re highly desirable.
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates!
How to prepare for a job interview at Sompo
✨Know Your Numbers
As a Pricing Analyst, you'll be dealing with a lot of numerical data. Brush up on your knowledge of capital modelling techniques and insurance concepts. Be prepared to discuss how you would apply these in real-world scenarios, especially in relation to Solvency II or similar frameworks.
✨Showcase Your Communication Skills
Strong communication is key in this role. Practice explaining complex quantitative concepts in simple terms. Think about examples where you've had to communicate technical information to non-technical stakeholders, as this will demonstrate your ability to collaborate effectively.
✨Be Proactive About Process Improvement
The company values a proactive approach to improving processes. Come prepared with ideas on how you could enhance existing controls or processes within the Capital Modelling team. This shows that you're not just looking to fit in, but to make a positive impact.
✨Prepare for Technical Questions
Expect some technical questions related to programming and data analysis. Brush up on your skills in VBA or SQL, and be ready to discuss any relevant projects or experiences. This will help you stand out as a candidate who is technically savvy and ready to tackle the challenges of the role.