- Developing and enhance capital modelling capabilities for the Lloyd's syndicate, SIEL and SEIL, which may involve enhancing parts of existing models for entities, and building/consolidating reports from the models for various uses.
- Preparing Solvency Capital Requirement (SCR) submissions for Lloyd's (the Lloyd's Capital Return) for the syndicate, and supporting other entity model development as required. Communicating results and providing analysis of change to the Head of Capital and Chief Actuary.
- Supporting annual and ad-hoc parameterisation of capital models. This will involve investigating new methods and seeking new data sources to continually improve the process.
- Preparing capital metrics and output to aid business planning and management decision making. Communicating these to underwriters to ensure their understanding of key results.
- Line manage one Capital Analyst.
- Supporting the Risk team with validation testing.
- Providing reporting and present results to the Internal Model Committee as required.
- Supporting maintenance of adequate levels of documentation in relation to the Internal Model, in-line with Solvency II requirements.
- Development work to improve efficiency of and reporting from models and ad hoc group reporting.
- Report any suspicion of financial crime to the Money Laundering Reporting Officer immediately.
- Operate within the Company's standards for Treating Customers Fairly.
- Manage any potential conflicts of interest to avoid disrepute to the company's integrity.
- Advise Compliance of any complaints immediately.
- Strong relevant/technical experience.
- Reserving principles.
- Lloyd's capital setting processes.
- Solvency II principles, EU directives in relation to Solvency II and capital adequacy.
- Reinsurance practices.
- Prudential Regulatory Authority regulatory framework.
- RPC Tyche software experience (will consider experience with other capital modelling tools).
- Statutory Reporting Tools.
- MS Office - Excel, Access, Word, PowerPoint and Outlook.
- Visual Basic (VBA) and similar languages.
- Qualified / Nearly qualified with Institute & Faculty of Actuaries or equivalent
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Capital Actuary/Analyst - London, United Kingdom - Starr Insurance Companies
Description
Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world.Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world's fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.
Role Purpose:
Support the Head of Capital Modelling, Chief Actuary, wider Actuarial team, Risk team and Senior Management through capital modelling . Take the lead day-to-day role in developing and embedding the Internal Model(s) used for capital setting for the European Starr entities.
Roles and Responsibilities: