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Head of Capital

Closing date
23 Feb 2021

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Job Details

Are you an experienced qualified actuary looking their next challenge?

ERS recently announced the backing of Arcus, Lloyd's syndicate 1856, giving the firm the ability to write Specialty, Commercial and Reinsurance lines alongside the existing motor business within Syndicate 218.

Our Head of Capital will maintain, run, and where necessary, rebuild and upgrade the two ERS syndicate capital models. They provide support to the Board and the CRO in matters relating to capital requirements and provide capital modelling information to support assessment of potential reinsurance purchases and syndicate strategic matters such as SBF assumptions and new business / acquisition decisions.

Reporting to the Chief Risk Officer, your main responsibilities in the role will be to:
  • Lead the capital modelling team, growing it to develop and support a second model
  • Prepare model for Lloyd's CIL process:
  1. Meet submission requirements and deadlines
  2. Maintain, update and run data processes, calibration tools and internal model
  • Support SCR validation process, by providing information to external validators and address their challenges
  • Produce the Reinsurance Actuarial Function Report
  • Produce the PRA Solvency II regulatory reporting form
  • Contribute to the production of the Own Risk and Solvency Assessment report, including the 5-year SCR projection
  • Provide capital modelling information as required for other departments, including:
  1. Reinsurance renewal
  2. Syndicate business planning decisions
  3. Solvency II reporting
  4. Data governance
  • Work with the CRO and other colleagues, identify changes to requirements and risk profile and implement them in accordance with agreed timescales

About You

You will be at the level of qualified UK actuary and have experience of using WTW Igloo. You will have a good general knowledge of Insurance industry including Motor and Speciality classes. You will have detailed capital modelling knowledge and understanding of Lloyd's, PRA and Solvency II requirements. We'd also like to hear from you if you:
  • Have the capability to build a new model and aren't afraid of taking the lead on such a project
  • Have brilliant written and face to face communication skills and be able to present your findings and recommendations at board level
  • Can respond to requests quickly, decisively and with accuracy
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