Capital Modelling Lead (Maternity Cover, 12-15 months)

The National Farmers Union Mutual Insurance Society Limited; Stratford-upon-Avon; Hybrid; GBP 100,000 - 130,000; Full time

Job summary

A major insurance provider is seeking a Capital Modelling Lead to develop market-leading capital modelling and management strategies in a hybrid capacity. The ideal candidate will have extensive experience in general insurance capital management, and a professional qualification (FFA/FIA) is essential. This high-impact role demands exceptional communication skills and the ability to engage senior stakeholders at Board level, paying up to £130,000 plus benefits.

Benefits

Salary up to £130,000

Annual bonus up to 33%

Car allowance or company car

Private medical insurance

28 days annual leave plus bank holidays

Contributory pension scheme

Employee discounts on insurance policies

Health and wellbeing plan

Qualifications

• In-depth knowledge of general insurance capital management.
• Ability to influence senior stakeholders at Board level.
• Significant experience in capital management and risk assessment.

Responsibilities

• Develop and maintain parameters for the GI capital model.
• Lead design and delivery of financial models.
• Set and oversee the Group's Internal Model strategy.

Skills

General insurance capital management

Reserving rules understanding

Stakeholder engagement

Excellent communication

Sound judgement

Education

FFA or FIA qualification

Relevant degree (Maths, Science, Economics)

Tools

Igloo

Tyche

Job description

Overview

Lead the development of market-leading capital modelling and management strategies for NFU Mutual Group.

Influence strategic decisions at Board level and collaborate with senior stakeholders across the business.

Hybrid role in Stratford-upon-Avon - we're open to discussing what this might look like for you.

Are you a technical expert in General Insurance Capital Modelling, seeking a high-impact opportunity to shape capital modelling and management strategies at Group level? NFU Mutual is looking for a senior specialist to join us on a 12-15 month fixed term contract, providing maternity cover as the lead technical authority for GI Capital Modelling.

About the role

As the Capital Modelling Lead, you will be the principal technical expert within our financial risk function, reporting to the Head of Financial Risk & Prudential Governance. This role is focused on hands-on technical delivery and guidance. You will:

• Develop and maintain parameters and calibrations for the GI capital model, ensuring alignment with our regulatory-approved Internal Model.
• Lead the design and delivery of financial models to project the Solvency position of the General Insurance fund and Group balance sheet.
• Set and oversee the Group's Internal Model strategy, ensuring regulatory compliance and effective reporting to the regulator, Board, and risk committees.
• Lead NFU Mutual's response to the DyGIST exercise
• Manage responses to PRA queries, defending our position while minimising capital impact.
• Stay informed of industry developments to ensure NFU Mutual remains aligned with best practice.
• Build strong relationships across the business, including Investment Office, Fund Management, Underwriting, Pricing, and Claims.
• Deliver short-term and ad hoc projects to agreed outcomes.
• Collaborate with wider business areas to embed capital management across the Group.

Qualifications

We are seeking a highly skilled technical specialist with:

• In-depth knowledge of general insurance capital management.
• Strong understanding of reserving rules and capital requirements for GI business.
• Experience with Igloo / Tyche modelling tools (desirable).
• Ability to influence senior stakeholders, including at Board level.
• Excellent communication skills, with the ability to present complex topics clearly.
• Sound judgement and decision-making capabilities.
• Professionally qualified with FFA or FIA (essential).
• Relevant degree (e.g., Maths, Science, Economics) or equivalent experience.
• Significant experience in capital management, risk assessment, and stakeholder engagement within the insurance sector.

Benefits and Rewards

• Salary - up to £130,000
• Annual bonus (up to 33% of salary)
• Car Allowance or company car
• Contributory pension scheme, up to 20%, including your 8% contribution
• 28 days annual leave + bank holidays + buy/sell/save holiday trading scheme
• A Family Friendly policy that helps you balance your work and family responsibilities
• Private medical insurance for you and your family
• Access to savings at High Street brands, travel and supermarkets
• £20 contribution to a monthly gym membership - subject to T&Cs
• Health and wellbeing plan - cashback for dentist, opticians, physio and more
• Employee Volunteering - volunteer in the community for one day each year
• Unlimited access to Refer a Friend £500 bonus scheme
• Life Assurance cover of 4 x salary
• Employee discounts of 15% on a range of NFU Mutual insurance policies.
• Salary sacrifice employee car scheme - subject to eligibility

Working at NFU Mutual

We're one of the UK's leading general insurance and financial services companies. For over 110 years we've put our customers at the heart of everything we do. Our people are just as important to us.

We pride ourselves on being "a great place to work" and our Gallup Exceptional Workplace 2025 award was not only awarded with Distinction but also named us as the first UK-based company to receive a Gallup Exceptional Workplace for ten years in a row. We are also the only Insurer to feature in the LinkedIn Top 15 Companies 2025 list of 'Best midsize employers to grow your career in the UK', the Glassdoor Best Places to Work UK List 2023 and 2024, and were recognised as a certified UK Top Employer by the Top Employers Institute in 2023, 2024 and 2025. We offer a supportive culture where we empower and inspire our people to perform, offer them opportunities to grow, and recognise and reward their contribution. Our people are proud to work for a company that respects them and their communities, and they trust us to be financially sustainable, so we are successful now and in the future.

Internally this role is known as Head of Group Capital At NFU Mutual, we support an inclusive workplace and value all the differences that make us unique. We celebrate the creativity and innovation that comes from diverse perspectives and experiences and share a common vision of doing the right thing for our customers and employees. We recognise that some candidates may experience barriers during the recruitment process. So, we encourage candidates to discuss any adjustments or accommodations they need to be the best they can be throughout our recruitment process. We're proud to be a Disability Confident Employer, a Race at Work and Women in Finance Charter signatory and welcome applications from people of all backgrounds, regardless of age, ethnicity, disability, neurodiversity, gender, religion, marital status, sexual orientation or socioeconomic background.

Benefits and Rewards When you join our team, you can expect a supportive culture and an attractive range of rewards and benefits including: