Capital Modelling Manager

Chaucer Group; Greater London; Hybrid; GBP 120,000 - 150,000; Full time

Benefits offered by this job

Hybrid work model

Inclusive culture

Medical, life, and pension benefits

Job summary

Chaucer Group seeks a capital modelling professional to coordinate regulatory and economic capital analysis for its managed syndicates and support capital work across Chaucer entities.

You will develop and embed the capital model, working with the Head of Capital Modelling to integrate risk management and decision making across the Group.

Qualifications

• Qualified actuary with Lloyd's SCR experience.
• Experience with stochastic modelling of insurance risks.
• Experience presenting to senior stakeholders (written and verbal).
• Experience managing capital modelling projects and driving delivery.

Responsibilities

• Manage SCR/EC/Standard Formula capital requirements for Chaucer managed syndicates.
• Present model results to Boards, Committees and external stakeholders.
• Parameterisation in line with regulator guidance and industry practice.
• Maintain Internal Model documentation and controls.
• Support validation of model outputs and regulatory liaison.

Skills

Actuarial

Lloyd's knowledge

Stochastic modelling

Project management

Stakeholder communication

Regulatory liaison

Education

Qualified actuary

CERA examination/equivalent

Tools

Igloo

SQL

Python

Microsoft Office

Job description

Job Profile Summary

Co-ordination and provision of risk and capital analysis (regulatory and economic) for Chaucer's managed syndicates and support for capital related work on other Chaucer entities. Manage the development of the capital model and support the Head of Capital Modelling in integrating the capital model with effective risk management. Communication and presentation of analysis and results to key internal (incl. senior management) and external stakeholders (incl. the parent company and regulator).

Job Description

• Manage the operation of processes to produce and deliver the regulatory and economic capital requirements (SCR / EC / Standard Formula) for all Chaucer managed syndicates;
• Support the Head of Capital Modelling in presenting and communicating modelled results and analysis to various stakeholders, including Boards, Committees, third party syndicates and capital providers;
• Manage parameterisation processes in line with issues raised by regulators, the validation process, business changes and industry best practice;
• Manage the assessment, escalation and actioning of limitations in capital modelling methodologies, processes and results;
• Manage the maintenance of Internal Model documentation in line with required tests and standards;
• Support in the validation of model outputs;
• Support the Head of Capital Modelling to ensure all capital modelling work is consistent with UK and international regulations and professional guidance; in particular - ensure the ongoing compliance of the Calculation Kernel with relevant Solvency UK Standards;
• Manage the capital model use framework for Chaucer and further embed use in decision making and risk assessment processes across the Group
• Liaise with senior management and key stakeholders to align model use to their needs through collaboration, education and providing insight
• Ensure consistency in application of risk assessment across all uses and decision making
• Support the optimisation of financial risk profile based on capital efficacy and risk-reward relationships (e.g. investment strategy, underwriting portfolio mix, outwards reinsurance strategy, new classes of business, M&A)
• Work closely with Outwards Reinsurance Team to model, assess and communicate impact of alternative structures, and provide portfolio insights to aid purchase strategy and optimisation
• Manage delivery of earnings volatility and risk appetite assessments
• Manage capital allocation process, including communication of output to end users
• Manage capital model analyses for ad-hoc and strategic Group initiatives
• Manage the development and maintenance of controls over all key capital modelling processes;
• Support the Risk function in the production of the ORSA, including analysis of risk aggregations and changes in risk profile, as well as stress and scenario testing; and
• Support the Head of Capital Modelling on the liaison with Lloyd's and the PRA regarding technical elements of SCRs, or the ORSA.
• Develop, manage and coach capital modelling team members so that they have appropriate opportunities and skills to perform their respective duties.

Our requirements

• General Insurance Actuarial
• Lloyd's of London
• Stochastic modelling of insurance and other risks
• Experience of managing projects / others and being personally accountable for delivery
• Presenting to and communicating with senior stakeholders (written and verbal)
• Overseen production of Lloyd's SCRs
• Interaction with regulators

Technical skills

• Good knowledge of Word, Excel and PowerPoint
• Good knowledge of Igloo or equivalent model software
• Understanding of the Solvency UK framework
• Technical competence with one or more programming languages (e.g. SQL, Python)

Education & Experience

• Qualified actuary
• Enterprise Risk Management / CERA examination pass or equivalent

Personal skills

• Analytical skills
• Ability to work in a team
• Ability to take and provide constructive challenge
• Able to work flexibly and adapt to changing conditions and priorities
• Hard working and committed to producing high quality output
• Able to liaise with staff at all levels
• Self-motivated and self-starter
• Excellent verbal and written communication skills

Other Responsibilities

• Participation in agency working groups and committees as required

Why Join Chaucer?

Chaucer is a leading global insurer operating in both Lloyd's and company markets, helping industries worldwide manage risk-from nuclear, shipping, manufacturing, and property. Headquartered in London, with offices in Copenhagen, Bermuda, Sydney, Ireland, Miami, Dubai, and Singapore, we're close to our clients wherever they are.

We have shown strong financial success with our Gross Written Premiums growing from $1.4bn in 2019 to $3.5bn in 2024. Backed by strong teams, platforms, and client relationships, Chaucer is poised for continued success.

We offer:

• A flexible hybrid work model that supports individual and team needs.
• A diverse, inclusive culture that values people for who they are.
• Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.