Capital Actuary

3 weeks ago

London, United Kingdom Munich Re Speciality Group Ltd Full time

**Capital Actuary **(M/F/d)****:
Are you looking for a new challenge?

**Location**
London, United Kingdom

This is an exciting opportunity to support MRSL’s capital modelling processes, including the operation, parameterisation, documentation and validation of the Internal Model.

As part of this role, you will take a lead role in enhancing the wider capabilities of the new Tyche model, including business model uses such as risk appetites, reinsurance analyses and return on capital.

To be successful in the role, you will have proven experience of developing required IM outputs in order to meet increasing business demands. Specific areas of focus in this role will include risk appetites, capital allocations and return on capital, reinsurance analyses, risk distributions and business scenario analyses. You will be committed to driving forward good Conduct for the business to deliver the best outcomes for our customers / policyholders.

Your job
- Support the operation of the Tyche Internal Model, including both the parameterisation of the model and the production of the LCR and all other regulatory submissions;
- Develop the required IM outputs for the Tyche model in order to meet increasing business demands. Specific areas of focus include risk appetites, capital allocations and return on capital, reinsurance analyses, risk distributions and business scenario analyses;
- Develop new inputs into the Tyche IM, maintaining consistency with the old Igloo IM where appropriate;
- Maintain IM documentation including detailed model documentation and capital reports;
- Assist with production, checking, explanation and use of IM output within the business to ensure widespread understanding and effective use.
- Support the IM validation process by carrying out validation analyses as requested by the Deputy Actuary, assist with resolution of validation issues identified; and preparation of the primary validation report for the Director of Risk & Compliance;
- Other activities as needed to support the Actuarial Function with other tasks;

**You are required to comply with the PRA and FCA conduct rules**:

- Acting with honesty and integrity at all times
- Acting at all times with due care, skill and diligence
- Being open and honest with the FCA, the Prudential Regulation Authority (PRA) and all UK regulators at all times
- Always paying due regard to the interests of customers and always treat them honestly and fairly
- Observing proper standards of market conduct at all times
- You must take reasonable steps to ensure that the business of the firm for which you are responsible is controlled effectively
- You must take reasonable steps to ensure that the business of the firm for which you are responsible complies with the relevant requirements and standards of the regulatory system
- You must take reasonable steps to ensure that any delegation of your responsibilities is to an appropriate person and that you oversee the discharge of the delegated responsibility effectively.
- You must disclose appropriately any information of which the FCA or PRA would reasonably expect notice

**Profile**:

- 3+ years of capital modelling experience, preferably within a Lloyd’s environment.
- Knowledge and understanding of FCA regulations and Lloyd’s requirements.
- Knowledge and understanding of the underlying principles of insurance and reinsurance.
- Highly developed mathematical / statistical knowledge.
- Experience of liaising with external regulators on capital modelling matters, to address queries and resolve any issues arising.
- Current Lloyd’s market knowledge, as well as knowledge of Solvency II and the classes of business written by the Syndicate.
- Experience with automation or modernisation of actuarial processes and outputs.
- Willingness to further increase knowledge of any Capital related matters and key market topics and develop technical and management skills.

About us

MRSG UK Services Limited is the employing entity for staff supporting the business activities of Munich Re Syndicate Limited (MRSL), Munich Re Specialty Group Limited (MRSG), Munich Re Specialty Insurance (UK) Limited (MRSI UK), Roanoke International Brokers Limited (RIBL) and Munich Re Digital Partners Limited (DP).

As part of Munich Re Specialty Group (MRSG), Munich Re Specialty Insurance (UK) Ltd (MRSI UK) brings together the long-standing and market-leading underwriting and claims expertise of NMU in the UK marine & specialty insurance markets with GrovesJohnWestrup, our UK Private Client proposition for insurance brokers and other intermediaries with clients who have unique and complex risks, as well as GJW Direct, UK‘s Specialist Direct Boat insurer.

Additionally, MRSI UK is affiliated with Munich Re Digital Partners Ltd (MRDP) that provides digital distributors a comprehensive go-to-market partnership in the UK and the EU, and Munich Re Risk Solutions Ireland Ltd (MRRSI) offering marine & specialty insurance solutions in Ireland

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