- Under the guidance of the Lead Risk Actuary, carry out internal model validation testing in line with regulatory and Board requirements. You will be involved in:Performing and/or reviewing validation tests for all components of the Hiscox Internal Model.Producing analysis and providing challenge to give the legal entity Boards confidence that the Hiscox Internal Model is accurately capturing the risks that they're exposed to. Produce near final drafts of validation documentation for consumption by model owners, governance committees, the Executive, Boards / Risk Committees and regulators. Ensuring validation processes, outputs and documentation reflect tangible improvement and enhancement from previous cycle.
- Support mandatory and ad-hoc second line risk reviews conducted across Hiscox Group's legal entities and business functions. No two reviews are the same and you will use a broad range of analysis, problem solving and research skills to drive insights and provide challenge to the first line. Examples of previous risk reviews include deep dives into Internal model risk areas, reviews of the Business Plan, Standard Formula capital calculations, reinsurance strategy, exposure modelling and reserving practices.
- Support and improve stress and scenario testing and risk appetite monitoring across the Group by helping to collect, analyse and interpret data.
- Support the production of regulatory processes and submissions, including ORSAs, ad-hoc risk MI and risk monitoring and reporting.
- Part Qualified / Nearly Qualified Actuary with experience at an insurance company or consultancy in a validation or traditional actuarial role.
- Knowledge of key risk types as applicable to retail / commercial (re)insurance.
- Understanding of Solvency II and equivalent regulatory actuarial and risk requirements and related reporting.
- Experienced in capital modelling through either experience or actuarial exams is highly desirable.
- Excellent communication skills with the ability to put forward constructive challenge to senior colleagues in a confident, credible, collaborative and non-contentious manner.
- Experience of working closely with stakeholders and an ability to build strong working relationships.
- A numerical based degree or equivalent qualification with strong quantitative and analytical skills.
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Senior Risk Actuarial Analyst - London, United Kingdom - Hiscox
Description
Job Type:
Permanent Build a brilliant future with Hiscox
Senior Risk Actuarial Analyst
Reporting to the Lead Risk Actuary
London-based, with Hybrid working
We are looking for someone with experience in the traditional reserving, capital or pricing disciplines, combined with a strong commercial mindset. We will make the most of the experience you bring to Hiscox but you'll also have the opportunity to learn beyond your existing knowledge as well as developing your softer skills.
Our work is varied; you will do well in our team if you are able to quickly understand problems and create and implement solutions, blending technical ability with a degree of pragmatism.
You'll play a key role in delivering insights and challenge to the business as part of Hiscox Group's Risk Management Framework. In this role you will be performing second line analytical work across insurance, market, operational and credit risk, including delivering Internal Model validation across the Group. You will also support the team in quantitative and actuarial areas of the risk management framework such as stress and scenario testing, risk appetite, specific risk reviews and regulatory reporting. The team produces high profile reporting that is seen by Executives, Boards and Risk Committees both at a Group level and for subsidiary legal entities.
We operate within a complex Group framework which will give you exposure to different regulatory regimes operating across multiple jurisdictions and to all key business functions. With a focus on Hiscox's Lloyd's Syndicates and Group you will obtain insight into the business that is not typically seen in more traditional actuarial roles.
What you'll be doing:
Our must haves:
Diversity and flexible working at Hiscox
At Hiscox we care about our people. We hire the best people for the job and we're committed to diversity and creating a truly inclusive culture, which we believe drives success. We also understand that working life doesn't always have to be 'nine to five' and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.
We've introduced new hybrid ways of working to encourage a healthy work life balance. We anticipate the successful candidate for this role will be in the office c. 2-3 days per week. Our London office will be your hub where team & collaboration time will take place.
We see it as the best of both worlds: structure and sociability on one hand, and independence and flexibility on the other.
#Li-AS1
Work with amazing people and be part of a unique culture
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