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- Tasks: Join our team to lead capital assessments and refine economic capital models.
- Company: We're a global health insurer dedicated to innovation and excellence in the insurance sector.
- Benefits: Enjoy flexible working options, competitive salary, and opportunities for professional growth.
- Why this job: Be part of a dynamic team making impactful decisions in the health insurance landscape.
- Qualifications: Newly/nearly qualified actuary with experience in general, health, or life insurance.
- Other info: We value equity and inclusivity in our recruitment process; let us know how we can assist you.
The predicted salary is between 48000 - 72000 £ per year.
We are assisting a global health insurance client of ours in the search for a capital actuary to join their growing team. We are looking for Newly / Nearly Qualified candidates who will join the Group Actuarial team in London.
Responsibilities:
- Lead the planning and execution of the annual capital assessment, including the development and upkeep of the Economic Capital Model. Focus on refining methodology, risk calibration, dependency/aggregation, validation, and analysis of economic capital needs.
- Assist in updating modelling and risk calibrations, maintaining model documentation, and generating reports aligning with Enterprise Risk Policies and Standards.
- Conduct analysis and investigations related to risk calibration models, engaging in workshop discussions with key stakeholders from insurance and health-care sectors.
- Execute changes to the Capital Modelling platform (Aon ReMetrica), ensuring proper control, documentation, and reliable output production of underlying change processes.
- Provide support for the proliferation of Economic Capital models throughout the organization, utilizing them as decision-making tools for risk appetite review, investment strategy, capital allocation, optimization, and scenario analyses.
- Scrutinize capital adequacy regulations for compliance, driving ongoing enhancement in capital models, data transformation, methodologies, assumptions, processes, and controls.
- Prepare content for reporting capital requirements to the Executive, Board, and relevant regulatory bodies.
- Develop strategic business solutions in response to emerging challenges and opportunities.
Requirements:
- Newly / nearly qualified Actuary
- Background in General, Health or Life Insurance
- Experience with capital modelling techniques and reporting
- Familiarity with Aon Re-Metrica or Aon Tyche software are advantageous, but not required
In our company values we aim for equity at all stages of the recruitment process, please let us know if we can do anything to make the process more accessible to you.
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Global Insurer - Nearly / Newly Qualified Capital Actuary employer: The Institute of Internal Auditors
Contact Detail:
The Institute of Internal Auditors Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Global Insurer - Nearly / Newly Qualified Capital Actuary
✨Tip Number 1
Network with professionals in the actuarial field, especially those who work in capital modelling. Attend industry events or webinars to connect with potential colleagues and learn more about the latest trends and challenges in the sector.
✨Tip Number 2
Familiarise yourself with Aon ReMetrica or Aon Tyche software, even if you haven't used them before. There are plenty of online resources and tutorials that can help you get a basic understanding, which will make you stand out during discussions.
✨Tip Number 3
Stay updated on the latest regulations and compliance requirements related to capital adequacy. This knowledge will not only help you in interviews but also demonstrate your commitment to the role and the industry.
✨Tip Number 4
Prepare to discuss specific examples from your past experience where you've contributed to capital modelling or risk assessment projects. Highlighting your practical experience will show your potential employer that you're ready to hit the ground running.
We think you need these skills to ace Global Insurer - Nearly / Newly Qualified Capital Actuary
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your qualifications and experience relevant to the role of a Capital Actuary. Emphasise your background in General, Health, or Life Insurance, and any experience with capital modelling techniques.
Craft a Strong Cover Letter: Write a compelling cover letter that explains why you are interested in this position and how your skills align with the responsibilities outlined in the job description. Mention your familiarity with Aon ReMetrica or Aon Tyche if applicable.
Showcase Relevant Projects: If you have worked on projects related to economic capital models or risk calibration, be sure to include these in your application. Detail your role and the impact of your contributions.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors or inconsistencies. A polished application reflects your attention to detail, which is crucial for an actuary role.
How to prepare for a job interview at The Institute of Internal Auditors
✨Understand the Role
Make sure you have a clear understanding of the responsibilities of a capital actuary. Familiarise yourself with concepts like economic capital models, risk calibration, and capital adequacy regulations, as these will likely come up during the interview.
✨Showcase Relevant Experience
Prepare to discuss your background in general, health, or life insurance. Highlight any specific projects or experiences that relate to capital modelling techniques and reporting, as this will demonstrate your suitability for the role.
✨Familiarise with Aon ReMetrica
Even if you haven't used Aon ReMetrica before, do some research on it. Understanding its functionalities and how it fits into capital modelling will show your initiative and willingness to learn, which is highly valued.
✨Engage with Stakeholders
Be prepared to discuss how you would engage with key stakeholders from the insurance and healthcare sectors. Think about examples where you've successfully collaborated with others to achieve a common goal, as this will be crucial in the role.
