Capital Manager

City of London
Competitive Salary + Bens + Bonus
10 Aug 2018
15 Aug 2018
Hiscox Group
Contract Type
Full Time

Position: Capital Manager

Reporting to: Group Head of Capital Management

The role

The Capital Manager is responsible for partnering with the relevant parts of the business to address capital management questions and running the Hiscox Integrated Capital Model (HICM) to produce relevant output. The HICM produces regulatory and economic capital numbers for risk carriers, business units and for the group as a whole in addition to providing information to support numerous business decisions. The Capital Manager will also need to understand the other drivers of capital requirements for the relevant parts of the business and be able to monitor and explain these on an ongoing basis.

The successful candidate will have management responsibility for producing risk profiles for HIC, NewCo (new carrier being setting up as part of Brexit preparations), HICI and Direct Asia from the HICM and be responsible for producing the capital components of the HIC and NewCo regulatory submissions.

Key responsibilities

  • Line management responsibility for immediate team

  • Delivery of the Standard Formula regulatory capital values to the PRA in accordance with Hiscox policies and Solvency II requirements

  • Production of risk profile information to enable the business and governance committees to monitor and manage against risk appetite, and to feed into the production of the ORSA

  • Liaison with the business to ensure suitable production of information to inform business decisions such as reinsurance purchase, asset strategy and capital allocation

  • Input into the regular parameterisation process for the model

  • Modelling inwards and outwards reinsurance scenario testing and other "what if" type analysis

  • Ensuring internal and regulatory reporting requirements are met

  • Promotion of model use by ensuring model outputs are timely and communicated effectively

  • Ensuring business users of modelling information receive suitable training and understand risk drivers, diversification effects and any limitations of the model

Skills/qualifications/experience required

  • Experience in the non-life insurance industry essential

  • Good understanding of the fundamental concepts of general insurance

  • Very strong analytical ability combined with a pragmatic and logical approach to problem-solving

  • Experience in interpreting results of capital models essential

  • Good knowledge of Solvency II standard formula requirements

  • Personal competencies include integrity, innovation, results-focused mindset, mental agility, decisiveness and strong leadership

  • Line management experience

Reporting relationships/interactions

  • Group Head of Capital Management

  • Key internal relationships include UKE and US CFOs, other members of capital management and business unit leadership teams, functional experts, reinsurance team, CRO and risk actuary

  • Key external relationships include peers at other comparable organisations and major consultancies and PRA technical expert

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