Capital Actuary

4 weeks ago


London, Greater London, United Kingdom Direct Line Group Full time

At Direct Line Group, we're combining decades of industry experience with talented people in every field to be a customer-obsessed market powerhouse. Our Actuarial teams deal with risk on a billion pound scale, calculating the risk involved in any given policy and ultimately a potential claim.

We're looking for a nearly or newly qualified Capital Actuary to join our finance department. As part of our Capital Modelling team within Finance, you'll have the opportunity to work with our business areas and leadership teams on a range of different insurance product and risks.

Our Internal Model is an approved, solvency model fully integrated with the Group's risk management framework, which is widely used across the business to assist with decision-making. The purpose of this role is to monitor, evaluate, and provide key deliverables in respect of DLG's capital position and associated exposures.

You'll take an active role in all of DLG's capital modelling processes, including the operation, parameterization, documentation and validation of the Internal Model. You'll also take ownership of certain components of the IM.

Key responsibilities include:

  • Plan and deliver estimates, forecasts and actual positions for the DLG's core capital measures, including developing and maintaining models used for estimation and forecasting.
  • Support the delivery and execution of capital application projects, such as reinsurance purchase, investment strategy, capital allocation, risk appetite review, and strategic M&A opportunities across the group.
  • Support the internal model's validation process by carrying out primary validation analyses, helping to resolve validation issues identified, and preparing the primary validation report.
  • Develop ad-hoc reporting tools for the internal model to meet increasing business demands, focusing on risk appetites, capital allocations, return on capital, reinsurance analyses, risk distributions, and business scenario analyses.
  • Maintain internal model documentation in relation to its components and support the delivery of reports focusing on annual capital KRIs and results presented to the Internal Model Oversight Committee.

These are exciting times as we're rebuilding our internal model in Tyche, offering a great opportunity to develop hands-on experience with Tyche.

We're looking for someone who is analytically and technically minded, with excellent problem-solving skills and the ability to work independently. You'll have strong financial and actuarial experience, with a capital modelling background, preferably with hands-on experience in Igloo/Tyche.

We're committed to making our business an inclusive place to work, where everyone can be themselves and succeed in their careers. We recognise and embrace people who work in different ways, so if you need any adjustments to our recruitment process, please speak to the recruitment team who will be happy to support you.


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