Capital Actuary

2 months ago

London, United Kingdom Everest Insurance Full time
Title:
Capital Actuary

Company:
Everest Advisors (Uk), Ltd.

Job Category:
Analytics

Job Description:

About Everest:
Everest Group, Ltd. (Everest), is a leading global reinsurance and insurance provider, operating for nearly 50 years through subsidiaries in North America, Latin America, the UK & Ireland, Continental Europe and Asia Pacific regions. Throughout our history, Everest has maintained its discipline and focuses on creating long-term value through underwriting excellence and strong risk and capital management. Our strengths include extensive product and distribution capabilities, a strong balance sheet, and an innovative culture. Our most critical asset is our people. We offer dynamic training & professional development to our employees. We also offer generous tuition/continuing education reimbursement programs, mentoring opportunities, flexible work arrangements, and Colleague Resource Groups.

About the Role:

The Actuarial Function (Reserving and Capital) is instrumental in supporting the Everest Insurance International growth and longer-term ambitions, with significant investment and wider Group collaboration in establishing a best-in-class actuarial set up.

As part of the Everest Insurance journey, we are now fully in-housing the syndicate managing agent. The Senior Capital Actuary role is to support the Head of Capital in establishing the capital modelling team and its capabilities, ensuring all governance and regulatory requirements are managed and met.

As a key member of a new team in Everest, the role will provide the opportunity to help shape the culture and processes of the team, and to collaborate with and learn from the wider actuarial team in EII. It will also involve training and guiding a junior capital analyst to learn best practices.

Initially, the team's focus will be on moving the existing internal model in-house. Once complete, there will be a period of development to ensure the model fulfils the specific needs of Syndicate 2786 and any developing external requirements. This will be an exciting period to work in the team as we set ourselves up for a successful future.

The successful candidate will have significant experience working with Internal Models in Lloyd's and be familiar with all the key external deliverables to satisfy Lloyd's and the PRA's requirement.

Role & Responsibilities (include but not limited to):
  • Become subject matter expert for syndicate internal model.
  • Produce internal and external reporting from internal model.
  • Analyse and communicate model results to ensure robust understanding of outputs and transparency to all stakeholders.
  • Facilitate parameterisation of model using expert judgement from other Everest departments.
  • Support external validation of internal model.
  • Collaborate with reinsurance department to support RI purchasing.
  • Liaise with underwriting and pricing to support capital allocation for pricing new business.
  • Develop clear and relevant MI reporting tools.
  • Run scenarios and stress tests to support business decision making.
  • Support the Syndicate Chief Actuary in producing the actuarial function report.
  • Apply appropriate controls over model inputs, parameters, judgments and outputs.
  • Collaborating with pricing, reserving and exposure management to ensure synergies across processes and teams, supporting efficiency, cross-learning and increased capacity for add-value tasks.
  • Key stakeholders include risk, finance, group capital management, Lloyd's, external audit, actuarial, Syndicate Board and senior management.
  • This role will be integrated as part of the wider actuarial team, with opportunity to collaborate, learn and contribute across the functions and business.


Qualifications:
  • Qualified or nearly-qualified Fellow of the Institute and Faculty of Actuaries (FIA) or similar.
  • Significant Lloyd's internal capital model and governance experience.
  • Bachelor's degree or higher in Maths, Accounting, Economics, Statistics, Business or a similar field.


Knowledge, Skills & Competencies:
  • Excellent IT skills, MS Excel, SQL, Power BI, ReMetrica or similar modelling tool.
  • Internal capital model and Lloyd's best practice requirements.
  • Ability to work independently and manage own workload.
  • Excellent organisational skills and a strong attention to detail.
  • Ability to simply communicate modelling process and results with internal and external stakeholders, both verbally and through reports or presentations.
  • A flexible and enthusiastic approach to work with a strong appetite to network, learn and develop.


Our Culture

At Everest, our purpose is to provide the world with protection. We help clients and businesses thrive, fuel global economies, and create sustainable value for our colleagues, shareholders and the communities that we serve. We also pride ourselves on having a unique and inclusive culture which is driven by a unified set of values and behaviors. Click here to learn more about our culture.

  • Our Values are the guiding principles that inform our decisions, actions and behaviors. They are an expression of our culture and an integral part of how we work: Talent. Thoughtful assumption of risk. Execution. Efficiency. Humility. Leadership. Collaboration. Diversity, Equity and Inclusion.
  • Our Colleague Behaviors define how we operate and interact with each other no matter our location, level or function: Respect everyone. Pursue better. Lead by example. Own our outcomes. Win together.


All colleagues are held accountable to upholding and supporting our values and behaviors across the company. This includes day to day interactions with fellow colleagues, and the global communities we serve.

Type:
Regular

Time Type:
Full time

Primary Location:
London

Additional Locations:

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