Deputy Head of Capital Modelling

Employer
Bolton Associates
Location
London (Central), London (Greater)
Salary
£140K + Bonus
Closing date
6 Feb 2023
Reference
ZB0002350CC

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Sector
General insurance
Contract Type
Permanent
Hours
Full Time
Experience/Function
Qualified
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Job Details

London market re/insurance business has an opening for a capital modelling actuary with Lloyd's experience. The role would be Deputy Head of Capital supporting the Head of Capital modelling with all capital related work - which would cover 2 syndicates and the company business. You would manage circa 3 analysts. Ideally you will have experience of IGLOO although other capital modelling platforms will be considered.

 

The main duties would involve:

 

Manage the operation of processes to produce and deliver the regulatory and economic capital requirements (SCR / EC / Standard Formula) for all managed syndicates;

 

Provide support for the Brexit entity - all related capital work as required (standard formula reviews and capital modelling analysis support);

 

Support the Head of Capital Modelling in presenting and communicating modelled results and analysis to various stakeholders, including Boards, Committees, third party syndicates and capital providers;

 

Work closely with the Risk function and the business to advise on the integrated use of the Internal Model in risk management processes across the group, including the adequacy and efficacy of risk mitigation techniques and advising the business on the optimisation of financial risk profile based on capital efficacy and risk-reward relationships (e.g. investment strategy, business portfolio mix, new classes of business, divestments);

 

Manage development of the Internal Model in line with businesses Model Change Policy and Lloyd’s model change reporting requirements (Igloo code changes, parameter changes, governance changes etc.);

 

Manage parameterisation processes in line with issues raised by regulators, the validation process, business changes and industry best practice;

 

Manage support in the validation of model outputs;

 

Manage the assessment, escalation and actioning of limitations in capital modelling methodologies, processes and results;

 

Manage the maintenance of Internal Model documentation in line with Solvency II tests and standards;

 

Manage the development and maintenance of controls over all key capital modelling processes;

 

Support the Head of Capital Modelling to ensure all capital modelling work is consistent with UK and international regulations and professional guidance; in particular - ensure the ongoing compliance of the Calculation Kernel with relevant Solvency II Standards;

 

Support the Risk function in the production of the ORSA, including analysis of risk aggregations and changes in risk profile, as well as stress and scenario testing; and

 

Support the Head of Capital Modelling on the liaison with Lloyd’s and the PRA regarding technical elements of SCRs, or the ORSA.

 

Develop, manage and coach capital modelling team members so that they have appropriate opportunities and skills to perform their respective duties.

Company

**UPDATE: All Bolton Associates' Consultants are working from home. We remain committed to our Clients and Candidates alike, and available to chat about the market, your careers, requirements, and the future! We are all set up for Zoom, Skype and other ways to facilitate recruitment needs, in these unconventional times. And there's plenty to talk about.....all contact numbers are on our website: www.bolton-associates.co.uk  Speak soon!"**

We work with clients in the Lloyd’s and London Market and across the insurance industry as a whole, and have an extensive network to whom we can introduce our candidates.

From a candidate perspective we can work with you at all levels, from graduate entry to Senior Partner, CRO and beyond.

Many of our roles are exclusive and therefore always worth speaking to us to hear about the new and exciting opportunities in the market.

There is nothing mysterious about the way we work or some magic recruitment formula as to how we consistently deliver outstanding results.

As one of the longest-standing headhunters in this sector,  we have many years of experience, and we all have the passion and enthusiasm to make a real difference.

We are good at what we do, because we enjoy what we do.

Contact details: Zoe Bolton

Telephone: 0207 250 4718

Email: zoe@bolton-associates.co.uk

 

 

 

 

Find Us
Website
Telephone
020 3544 4850
Location
34 Lime Street
London
London
EC3M 7AT
GB

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