Head of Capital Modelling

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Lloyd's are seeking to recruit a Head of Capital Modelling on a 12 Month FTC (Fixed Contract) to cover maternity leave. You will report directly into the Chief Actuary with responsibility for the Lloyd's Internal Model (LIM) and leading the market-level capital modelling undertaken by Lloyd's. This includes determination of Lloyd's regulatory capital requirement in line with Solvency II and responsibility for Lloyd's capital strategy

Principal Accountabilities

Lloyd's Internal Model

Lead the development, implementation and operation of the Lloyd's Internal Model in accordance with the requirements of the Council, Chief Finance Officer (CFO), PRA and Solvency II.

Lead the annual update of the LIM to produce Lloyd's regulatory capital requirement, ensuring that it reflects the latest risk profile and that documentation is current and appropriate.

Lead the development of LIM to produce syndicate benchmark capital requirements and for use in allocating member capital.

Responsibility for leading analysis and making recommendations regarding member capitalisation and the Central Fund

Capital Strategy

Responsible for leading the design, development and implementation of the next Lloyd's Internal Model, which must successfully address the limitations of the current model and maintain appropriateness for its required uses.

Lead Major Model Change Applications (MMCA) for the LIM as required, with responsibility for engagement with the PRA as part of the approval process

Regulatory

Lead and ensure ongoing compliance with Solvency II capital requirements, including responsibility for documentation and Standard Formula calculations

Feedback Loops

Lead the process to understand the differences between Lloyd's central view of the capital requirement and the market's aggregate view of capital requirements, and respond with appropriate action, using support from the Actuarial Oversight team where required.

Lead the process to identify areas of potential concern for syndicate-level investigation by the Actuarial Oversight team.

Manage the consistency and contribution to modelling Lloyd's capital requirements from the Lloyd's Investment Risk Model (LIRM), and the Lloyd's Catastrophe Model (LCM) through matrix management of the LIRM and LCM component owners.

Lead the process to communicate relevant findings and results from the LIM to the Finance and Markets directorate, and drive cross-functional collaboration. In particular, to support the management of risk to the Central Fund

MRC Leadership

Member of MRC Leadership team with responsibility for delivery of strategy and shared accountability for MRC objectives

Act as the primary contact for queries on central capital activities for internal and external parties, including the PRA and rating agencies.

Provide peer review and support to other work areas in MRC as appropriate, focussing on required purpose and potential improvements to the work considered

Skills Knowledge and Experience

Detailed understanding of Lloyd's

Market Knowledge including Lloyd's, London Market & non-London Markets

Deep technical understanding of Capital Modelling techniques

Broad understanding of reserving, reinsurance, exposure management, risk management, claims and underwriting

Understanding of UK GAAP and Solvency II requirements

Experience of stakeholder management at senior levels

Experience of managing change

Influencing & negotiating skills

Effective stakeholder management skills

Presentation Skills

Analysis Skills

Problem solving/decision making skills

Team management skills

Leadership and Strategy setting

Coaching and mentoring skills

Fully qualified actuary with FIA status (or equivalent) from the UK Institute and Faculty of Actuaries (IFoA)

Diversity and inclusion are a focus for us - Lloyd's aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development. You can read more about diversity and inclusion on our website.

We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.

By choosing Lloyd's, you'll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.

Should you require any additional support with your application, or any adjustments, please click the following link;

https://cleartalents.com/apply/lloyds-msa1645695881

Please note, clicking on this link does not register your application for the vacancy