Capital Modeller

AIG; Greater London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A global market leader in insurance is seeking a Capital Modeller to enhance their risk management processes. The position requires a qualified actuary or a quantitative MSc, coupled with over 5 years of experience in capital modelling, pricing, or reserving. Candidates should be proficient in statistical programming languages like R or Python and possess strong communication skills. The role involves leading end-to-end processes related to various risk areas and supporting business partners with capital model applications. This is a great opportunity to develop your career in a forward-thinking team.

Qualifications

• 5+ years of experience in General Insurance capital modelling, pricing or reserving.
• Experience of coding in statistical programming languages.
• Ability to work under own initiative and flexibility.

Responsibilities

• Lead end-to-end processes in various risk areas including Insurance Risk.
• Develop new processes to improve efficiency or regulatory compliance.
• Communicate model output to key stakeholders.
• Support business partners with uses of the capital model.
• Maintain logs, reports and documentation for internal and external reviews.
• Coach junior staff and review their work.

Skills

Statistical programming languages such as R or Python

Good communication skills

Critical thinking and problem-solving skills

Self-initiative

Professional behavior with high integrity

Education

Qualified Actuary or MSc in a quantitative field

Tools

WTW Igloo

Job description

Join us as a Capital Modeller to take your career to the next level with a global market leader.

Make your mark in Capital Modelling

Economic Capital is of importance at AIG as it helps to quantify the trade-off between risk and return and informs risk-aware business decisions that support corporate objectives. At a group-wide level Economic Capital is used as part of use in capital and risk management, budgeting, strategy and pricing. At a legal entity level Economic Capital is the regulatory capital for UK, Europe and Talbot legal entities and is used to set the target capital levels for US, Canada, Bermuda and Japan.

How you will create an impact

This role is an excellent opportunity to join a forward-thinking team and business with a focus on update, reporting and use of Economic Capital Models.

• The Capital Modelling Risk Analyst would be responsible end-to-end processes in various risk areas, e.g. Insurance Risk, including Nat Cat, Man Made-Cat and Non-Cat risk, Market Risk, Credit Risk and Operational Risks.
• The modeler will lead on development of new processes or the overhaul of current processes to improve efficiency or regulatory compliance.
• Communicate model output and changes to key stakeholders and to governance committees as required.
• Support business partners in Actuarial or Finance with uses of the capital model, whether analysis of volatility, capital allocation, technical pricing or reinsurance effectiveness. Support to business partners in ERM would relate to review of capital plans, stress testing, risk appetite, risk reporting or the ORSA.
• Working with Subject Matter Experts from other areas of the model to meet timelines in the delivery of model updates, changes, documentation and capital solutions for quarterly model reporting, Major Model Changes and other regulatory filings.
• Ensure logs, reports and documentation such as the Technical Issues log/Expert Judgement Log, Sensitivity Testing Report and Model documentation are maintained and available for use/review by both internal and external parties.
• Coordinate ongoing quality assurance and checking and support the independent validation reviews of model.
• Coach junior staff, including regular review of their work.

What you'll need to succeed

• Qualified Actuary or MSc in a quantitative field or equivalent preferred.
• 5+ years of experience in General Insurance capital modelling, pricing or reserving.
• Experience of using with statistical programming languages, such as R or Python. Experience using and coding in WTW Igloo for capital modelling is a plus.
• Good communication skills, both written and verbal.
• Excellent critical thinking and problem-solving skills.
• Ability to work under own initiative and show flexibility to meet business needs.
• Professional behaviour with high level of integrity.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to [e-mail].