Risk & Capital Actuary

Chubb Ltd.; Greater London; On-site; GBP 90,000 - 130,000; Full time

Job summary

Chubb Ltd. in London seeks a professional to oversee Capital Modelling and Risk Management across Europe. The role sits in the Risk Function with exposure to senior management.

You will manage day-to-day model operations, data updates, and documentation, while also embedding RMF and supporting enterprise risk activities across Chubb Europe with innovative risk analysis.

Qualifications

• Experience with actuarial capital modelling or risk management in insurance.

Responsibilities

• Operate and calibrate the capital model across Europe, ensuring accuracy and completeness.
• Run model outputs, provide reports and support validation activities with the Global Model Validation Unit.
• Develop and embed the Risk Management Framework (RMF) across Chubb Europe and enhance risk reporting.
• Contribute to stress and scenario framework development and to emerging risk analysis.

Job description

Description:

This role will have responsibilities across both Capital Modelling and Risk Management.

Within Capital Modelling, this role will have responsibilities for the operation, development and use of the capital model within Chubb in Europe. This role will need to take responsibility for the day to day running of the internal model, including quarterly data updates, model changes, model output information and documentation of results.

The potential for model use is being actively explored and the individual taking this role will be expected to creatively explore this aspect. The strategic insights that can be obtained from work done by the capital team are highly valued across the organisation. This makes the role high profile with access to the most senior levels of management within Chubb, both in Europe and across the wider group. It requires a highly creative individual who is self-motivated to find ways to add value to the organisation.

In addition, this role will also have responsibilities within Chubb Europe’s ERM team, and will promote the embedding of the Risk Management Framework (RMF) across Chubb Europe by enhancing risk management activities towards the achievement of Chubb’s regional corporate objectives.

The role will support the stress and scenario framework, emerging risk analysis, drive risk quantification innovations, use the Capital Model in enterprise risk analysis, and support production of the ORSA. The role holder will be involved in a range of tasks including, but not limited to, performing technical deep-dive reviews, drafting relevant reports, and providing inputs to various Committees to facilitate risk-based decision making.

The role sits within the Risk Function, which gives it access to all areas of the organisation. Unusually for an actuarial role, there is equal focus on both sides of the balance sheet and the successful applicant will have exposure to investment, claims, underwriting and all other types of risk.

Key Responsibilities:

Operation of the model:

1. understand the technical working of the capital model, co-ordinate with other departments to ensure the calibration of the model is done with accuracy, completeness and appropriateness.
2. Run and extract results from the model, ensure output provided from the model is accurate, complete and appropriate, provide quantitative and qualitative reporting.
3. Support EMEA model validation efforts including the provision of required inputs to the Global Model Validation Unit in respect of validation activities.
4. Understand the model limitations and work within the change process to address limitations, operate the model change process, and identify future areas for study.
5. Respond to use requests, identify, adapt, and develop areas for future use, strategic decision making, and risk monitoring.

Risk Management use:

1. Performance of technical/actuarial deep-dive reviews, drafting relevant reports, as well as ongoing reporting and monitoring thereof.
2. Lead the related risk/actuarial analysis in respect of insurance/underwriting exposures, reserving and financial (credit & market) risks as may be required
3. Development and performance of the company's stress and scenario framework analysis, review, and documentation of stress and scenario analysis and demonstrating linkage to the emerging risk process.
4. Support the emerging risk process.
5. Optimise the existing ERM processes, enhance existing risk reporting toolkits and continue the development of an integrated risk reporting dashboard which combines capital, profitability, liquidity, franchise value and how these react under different macro-economic environments.
6. Work with off-site team in Chubb Business Services India to ensure maximum efficiency of resources.