Head of Capital Modelling

lloyds; Greater London; On-site; GBP 150,000 - 190,000; Full time

Job summary

Lloyd's in London is recruiting a Head of Capital Modelling on a 12-month fixed-term contract to lead the Lloyd's Internal Model, oversee regulatory capital calculations, and shape the next generation of LIM while maintaining regulatory standards. The role reports to the CRO and sits on the Senior Leadership team.

You will manage a team (3 direct, 18 indirect) and work with risk, finance, underwriting and regulators to ensure sound capital management across the Lloyd's market.

Qualifications

• Deep technical expertise in capital modelling and risk.
• Experience influencing senior stakeholders and leading change.

Responsibilities

• Lead the development, operation and annual update of the Lloyd's Internal Model.
• Oversee calculation of Lloyd's regulatory capital requirement.
• Shape and deliver the next generation of the LIM, aligned to strategy.
• Lead model change activity and engagement with the PRA.
• Ensure compliance with UK Solvency II capital requirements.
• Lead analysis of member capitalisation and risks to the Central Fund.
• Communicate complex modelling findings to senior stakeholders and regulators.

Skills

Capital modelling

Stakeholder management

Strategic leadership

Analytical thinking

Communication to regulators

Education

FIA qualification

Degree or equivalent experience

Tools

LIM (Lloyd's Internal Model)

Job description

Lloyd's is the world's leading insurance and reinsurance marketplace, bringing together the world's leading risk takers to advance global progress.

Our strategy is focused on delivering strong underwriting performance, operating an efficient and flexible marketplace, and maximising the capital advantage of the Lloyd's market - while continuing to build a Lloyd's we are proud of.

How we deliver this, matters. We take the risk, make things happen, and own the outcome - working together across our global network to turn insight into impact.

Lloyd's is seeking to recruit a Head of Capital Modelling on a FTC (Fixed Contract) for 12 Months to cover a period of maternity leave. You will lead one of the most important components of how we understand risk and capital across the Lloyd's market. Reporting directly to our Chief Risk Officer, you'll take responsibility for the Lloyd's Internal Model (LIM) and lead our market-level capital modelling. You'll oversee the determination of Lloyd's regulatory capital requirement and help shape how we manage risk to the Central Fund. You'll lead the design and development of its next generation, making it simpler and more effective while maintaining the standards expected by Lloyd's and our regulators.

What you’ll do

You’ll set the direction for capital modelling at Lloyd's and turn complex analysis into decisions that matter.

You’ll:

• Lead the development, operation and annual update of the Lloyd's Internal Model.
• Oversee the calculation of Lloyd's regulatory capital requirement.
• Shape and deliver the next generation of the LIM, aligned to Lloyd's strategy.
• Lead major model change activity and engagement with the Prudential Regulation Authority (PRA).
• Ensure ongoing compliance with UK Solvency II capital requirements.
• Lead analysis of member capitalisation and risks to the Central Fund.
• Bring together Lloyd's central and market views of capital to identify differences and drive action.
• Connect capital modelling with investment, catastrophe, reserving, finance, risk and market oversight.
• Communicate complex modelling findings clearly to senior stakeholders, regulators and rating agencies.
• Lead, coach and develop the Capital Modelling team, with responsibility for 3 direct and 18 indirect reports.

You’ll also be a member of the Senior Leadership team and Internal Model Oversight Committee, giving you a meaningful voice in the decisions that shape Lloyd's.

What you’ll bring

You’ll combine deep capital modelling expertise with the judgement and influence to operate confidently at senior level.

We’re looking for:

• Deep technical knowledge of capital modelling.
• Strong understanding of Lloyd's and the wider London and international insurance markets.
• Broad knowledge across areas such as reserving, reinsurance, exposure management, underwriting and risk.
• Understanding of UK Solvency II requirements and UK GAAP.
• Experience influencing and working with senior stakeholders.
• Evidence of leading significant change.
• Strong analytical, decision-making and problem-solving skills.
• The ability to make complex technical subjects clear and relevant.
• Experience leading, coaching and developing high‑performing teams.
• A degree or equivalent experience.
• FIA qualification, or an equivalent recognised actuarial qualification.

Being inclusive at Lloyd's is integral to how we work - and how we deliver impact.

We aim to build a diverse, inclusive environment that reflects the global markets we serve, where everyone is treated with dignity and respect and supported to reach their full potential.

We take the risk by challenging traditional thinking and being proactive about inclusion. That means being open and positive about workplace adjustments, prioritising health and wellbeing, and investing in diversity and inclusion training so everyone feels able to contribute and succeed.

Through employee networks, mentoring, volunteering opportunities and sustained investment in professional development, we create an environment where inclusion is experienced day‑to‑day - not just talked about.

We own the outcome by focusing on impact. By bringing together diverse perspectives and the best minds in the industry, we work collaboratively with underwriters and brokers to create innovative, responsive solutions that share risk and solve complex problems across global markets.