Capital Actuary in London

About Us: Founded in 1848, Westfield is a global leader in property and casualty insurance, delivering superior risk insights and innovative solutions to customers through a diverse portfolio of insurance products. Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of leading independent agents and brokers in the United States and specialty products through Lloyd's of London Syndicate 1200. As a mutual insurance company with more than 3,000 employees, Westfield has revenues in excess of $4 billion and more than $10 billion in assets.

Main Purpose of Role: Support embedded model uses such as reinsurance analysis and optimisation, capital allocation and strategic opportunities e.g. new classes, portfolio optimization, underwriting strategy etc. Integral part of Lloyds Capital Return (LCR) process. Supporting other risk and regulatory reporting – standard formula, PRA returns, LCM returns, ORSA. Ability to represent the function in cross-functional committee meetings and Risk Committees when required. Development and maintenance of the Igloo model. Outside of peak capital periods this role will be a mixed role with opportunities to support reserving, pricing and portfolio analytics teams which all report into the Chief Actuary.

Key Accountabilities & Role Requirements:

• Integral part of the current design and future development of model components.
• Ability to build processes and help shape developing projects.
• Communication of results and opportunities to develop model MI.
• Work with other functions to enhance the use of the internal model within the organisation.
• Support the wider team with case pricing, quarterly reserving and portfolio analytics where required.

Skills & Competencies Required:

• Must have industry experience of working in capital.
• Ideally Igloo experience.
• Involvement in reinsurance modelling.
• Ideally worked on Lloyd's SCR and/or parameterisation.
• Commercial awareness of the insurance market.
• Good technical skills and ability to make objective decisions with clear rationale.
• Able to analyse data and make sound expert judgements.
• Strong interpersonal/communication skills and committed individual/team work ethic.
• Good team player and ability to motivate others.
• Ownership of delivery quality and take accountability of own work.

Qualifications & Experience:

• Minimum of a BSc or BA, Master’s Degree or equivalent preferred.
• Nearly/Newly Qualified.
• 5 to 7 years' General Insurance experience, with preferably 4 years specifically in capital modelling.

Critical:

• Knowledge of all core areas of an internal model.
• Experience of underwriting loss parameterization.

Desirable:

• Understanding of languages like Igloo and RLloyd's market experience.
• Reinsurance knowledge.
• Good knowledge of VBA and SQL coding.
• Solvency II experience.

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.

Westfield Specialty International Culture: Our culture is centred around three core values: Excellence, focused on high performance, agility and embracing change; Ambition, where inquisitiveness, challenge and a bold approach is encouraged; and Collaboration, delivering shared goals through collective expertise, diversity of thought and transparency. All three are underpinned by Reward & Recognition, where people are supported & respected, and success is celebrated.

EQUAL OPPORTUNITY EMPLOYER: United States: All applicants receive consideration for employment without regard to race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, or status as a protected veteran. United Kingdom: Westfield is committed to equality of opportunity for all staff and applications from individuals are encouraged regardless of age, disability, sex, gender reassignment, sexual orientation, pregnancy and maternity, race, religion or belief and marriage and civil partnerships.