Main Purpose of Role:
Support embedded model uses such as reinsurance analysis and optimisation, capital allocation and strategic opportunities
e.g. new classes, portfolio optimization, underwriting strategy etc.Integral part of Lloyds Capital Return (LCR) process
Supporting other risk and regulatory reporting – standard formula, PRA returns, LCM returns, ORSA
Ability to represent the function in a cross-functional committee meetings and Risk Committees when required
Development and maintenance of the Igloo model
Outside of peak capital periods this role will be a mixed role with opportunities to support reserving, pricing and portfolio
analytics teams which all report into the Chief Actuary.
Key Accountabilities & Role Requirements:
Integral part of the current design and future development of model components
Ability to build processes and help shape developing projects
Communication of results and opportunities to develop model MI
Work with other functions to enhance the use of the internal model within the organisation
Support the wider team with case pricing, quarterly reserving and portfolio analytics where required
Skills & Competencies Required
Must have industry experience of working in capital.
Ideally Igloo experience
Involvement in reinsurance modelling
Ideally worked on Lloyd’s SCR and / or parameterisation
Commercial awareness of the insurance market
Good technical skills and ability to make objective decision with clear rationale
Able to analyse data and make sound expert judgements
Strong interpersonal/ communication skills and committed individual/team work ethic
Good team player and ability to motivate others
Ownership of delivery quality and take accountability of own work
Qualifications & Experience:
- Minimum of a BSc or BA, Master’s Degree or equivalent preferred
- Nearly / Newly Qualified
- 5 to 7 years’ General Insurance experience, with preferably 4 years specifically in capital modelling
Critical:
- Knowledge of all core areas of an internal model
- Experience of underwriting loss parameterization
Desirable:
- Understanding of languages like Igloo and R
- Lloyd’s market experience
- Reinsurance knowledge
- Good knowledge of VBA and SQL coding
- Solvency II experience
This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management. #wspi
About UsWestfield Specialty International Culture
Our culture is centred around three core values: Excellence, focused on high performance, agility and embracing change; Ambition, where inquisitiveness, challenge and a bold approach is encouraged; and Collaboration, delivering shared goals through collective expertise, diversity of thought and transparency. All three are underpinned by Reward & Recognition, where people are supported & respected, and success is celebrated.
