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Capital Modelling Analyst /Actuarial Science Graduate

About us

Avencia Consulting are currently seeking a Capital Modelling Analyst to join a talented and dynamic team of capital actuaries within a market leading specialty insurer and reinsurer experiencing a period of growth and transformation.

This role is suited to an individual currently performing the role of Actuarial Analyst within the GI sector, prior capital experience is not required. Equally those who have graduated with a BSc or MSc in Actuarial Science with exemptions will be considered.

The role

The Capital Modelling function at 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 its business 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.

The team is built around three main areas of expertise covering production, regulatory interaction and commercial applications. Individual team members are encouraged to contribute across all areas while developing and sharing their own specialist skills and knowledge.

This role will suit a high-calibre recent actuarial graduate or analyst (from Pricing, Reserving or Modelling background), ideally with experience in the non-life insurance sector, gained through consultancy or in-house at a London Market firm. The successful candidate will have very strong analytical and communication skills, and be someone with the motivation and skill to get to grips with both the technical and commercial aspects of capital modelling in a global insurance company.

Key accountabilities

  • Supporting the Capital Modelling Team in the development, maintenance and production of ECM deliverables for both internal and external purposes
  • Production of analysis and commentary to support risk reporting to committees and boards
  • Production of additional ECM deliverables to various regulatory entities relevant to the organisation, including the PRA, Lloyd's of London, and the BMA as well as rating agencies
  • Assisting with regular model updates as required, including updates to methodology, coding, parameters, data, exposure and reinsurance inputs
  • Assisting with parameterisation of risk categories as necessary, as well as involvement in parameterisation work conducted by other functions, including challenge and review where necessary, 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 changes to the model's methodologies, assumptions or parameters
  • 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

  • Graduate with a 1st or Upper 2nd (2:1) degree from a top-tier university, in a subject involving a high level of numerical or quantitative content
  • Part-qualified or student actuary, demonstrating good progress with the actuarial examinations
  • Ideally experience of actuarial work in the non-life insurance sector (for example gained within a consultancy or London Market organisation).
  • Experience of non-life Capital Modelling techniques and analysis (Tyche or Igloo knowledge highly desirable), including application to Solvency II or equivalent 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
  • Experience of programming highly desirable (e.g. VBA, SQL)

Capital Modelling Analyst /Actuarial Science Graduate

London, UK
Full time
Lloyd's of London Market
Competitive package

Published on 07/21/2021

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