Capital Modelling Actuary

3 days ago

London, United Kingdom Avencia Consulting Full time

**The role** The Capital Modelling function is responsible for the provision of statistical data and analytical support to the company. However, more than that, the organisation prides itself on actively supporting the use of the Economic Capital Model ("ECM") in itsbusiness for both the Group and its legal entities, making use of the model to deliver real business results while ensuring prudential requirements are met at local and group level. **Key accountabilities** - Assisting with the development, maintenance and regular update of the ECM including development of methodologies and model coding, parameter reviews and exposure analysis to ensure the ongoing appropriateness and robustness of the ECM - Supporting the effective and pro-active communication of capital model results and analysis to key stakeholders across the group, including explanation of movements in capital arising from changes to the underlying risk profile of the firm, or from changesto the model's methodologies, assumptions or parameters - Supporting the Regulatory Platform Lead in the production of internal and external reporting requirements and other ECM activity relating to the operating entities and its regulators, including the PRA, Lloyd's of London, and the BMA as well as rating agencies - Production of analysis and commentary to support internal risk reporting to committees and boards - Involvement in the entity-level business planning and reforecasting processes, including the production of capital calculations and associated exhibits, including explanations of movements from both a technical and 'real-world' perspective - Tracking and responding to independent validation feedback, regulatory requests and developing reporting solutions in response to the evolving regulatory environment - Compliance with the ECM's operational control processes and other processes deriving from Internal Model policies (e.g. model change, documentation etc.) and proactively seeking to improve existing controls and processes that currently exist **Skills & experience** - Qualified Actuary, or Nearly-qualified actuary, demonstrating good progress with the actuarial examinations - At least 2 years of experience of actuarial work in the non-life insurance sector (ideally gained within a consultancy or London Market organisation). - Experience of non-life Capital Modelling techniques and analysis (Tyche or Igloo knowledge highly desirable) - Understanding of key Underwriting Risk (catastrophe and non-catastrophe) and Reserve Risk concepts and modelling techniques - Understanding of Solvency II, Lloyd's Minimum Standards, or equivalent regulatory regimes - Strong communication skills, both oral and written - Proficient in standard software tools (e.g. Excel, Word, PowerPoint) - High degree of proficiency dealing with quantitative concepts, with a strong analytical and problem-solving approach - Proactive approach to improving processes and challenging the status quo

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