Head of Capital

The Emerald Group Ltd, Search and Selection; Greater London; On-site; GBP 90,000 - 130,000; Full time

Job summary

The Emerald Group Ltd, Search and Selection seeks an experienced Head of Capital to lead the Capital Team and oversee the operation, development and validation of the Internal Model. You will provide actuarial input to key business processes including planning, reinsurance strategy and capital management.

You will maintain model documentation, outputs and parameterisation, and ensure effective governance with stakeholders across underwriting, pricing and finance.

Qualifications

• Lloyd’s capital processes and requirements.
• Capital modelling experience with at least three years in a senior position.
• Tyche experience.
• Experience in managing three or more staff.
• Experience of interacting with, and presenting to Board member.
• University Degree and/or relevant professional qualification.

Responsibilities

• Lead and oversee the Capital Team and IM validation efforts.
• Maintain model documentation, change logs and outputs.
• Coordinate with Underwriting, Risk, Reinsurance, Pricing and Finance for SCR, ORSA and other IM inputs.
• Provide actuarial input to business planning, reinsurance strategy and capital planning.
• Develop resource plans, staff training and development, and oversight across capital activities.
• Engage with Board-level stakeholders to explain outputs and inputs.

Skills

Lloyd’s capital processes

Capital modelling

People management

Stakeholder communication

Education

University degree / professional qualification

Tools

Tyche

UVM

Job description

You will support the activities of the Specialty business and manage the Capital Team and the operation, uses and development of the Internal Model (IM). You will maintain the code, documentation and parameterisation, and support the IM validation process. The Head of Capital will provide actuarial input into key business processes including business planning, reinsurance strategy and wider risk & capital processes.

In this role you will be the first point of contact for Capital, maintaining strong relationships with the Lead the Capital Team providing oversight, leadership and management across capital and the capital elements of validation. To include resource and work planning and staff training & development.

• Communicate regularly with the key stakeholders, setting out Capital’s position and achieving understanding and buy in. Other key relationships that should be maintained and strengthened include with Underwriting & Underwriting Strategy, Exposure Management, Reinsurance, Risk Management, Reserving, Pricing and Finance
• Maintain, run, develop and parameterise the actuarial elements of the IM. Produce required reporting information, Liaise with Underwriting, Claims, Reinsurance, Pricing and Reserving, explaining outputs, purpose and inputs needed for the IM and getting buy in to the finally selected model inputs
• Produce information needed for model uses including SCR, ORSA, PRA information, AoC, SBF, LCM, 1 in 30 AEPs, reserve ranges, risk distributions, reinsurance cost allocation, AFR information etc.
• Maintain model documentation, model change log and all relevant model outputs
• If resourcing increases, take ownership of and responsibility for the UVM, and expand its use to include other GSI entities, liaising with the key stakeholders including Mike Kerner
• Peer reviews the best estimate reserves at least annually, to ensure reasonableness and consistency with IM assumptions

Knowledge and Skills

• Lloyd’s capital processes and requirements
• Capital modelling experience with at least three years in a senior position
• Tyche experience
• Experience in managing three or more staff
• Experience of interacting with, and presenting to Board member
• University Degree and/or relevant professional qualification