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Job Title: Head of Capital Modelling, International
Reporting to: Chief Actuary
Position Type: Permanent
Hybrid working: 3 days in the office, 2 remote
Why Tokio Marine HCC?
Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.
Job Purpose
Lead the development, governance and strategic use of capital models across TMHCC International, ensuring they accurately reflect the risk profile of each entity, meet regulatory requirements and provide insight to support effective business and capital management decisions.
This includes ownership of the approved Internal Model for the Lloyd's Syndicate, non-approved capital models for the UK and Luxembourg entities, and the Standard Formula Catastrophe modules supporting those entities.
Key Responsibilities
- Own the capital model, including its methodology, assumptions, data, systems, controls and documentation
- Lead, develop and retain a high-performing capital modelling team
- Lead the production of regulatory and economic capital assessments
- Produce high-quality, decision-useful materials for internal governance committees and present key findings, recommendations and capital implications where required
- Own the Standard Formula Catastrophe Risk module and associated governance.
- Provide forward-looking insight into solvency requirements and the implications for capital management including dividend capacity
- Support business planning, risk appetite, capital allocation and strategic decision-making
- Lead model development, model change governance, validation remediation activities and continuous improvement initiatives.
- Ensure modelling approaches appropriately reflect the underlying risk profile while remaining transparent, proportionate and efficient.
- Maintain effective relationships both internally (e.g. with other departments) and externally (e.g. with regulators, validators, etc.)
- Develop and communicate the long-term capital modelling strategy.
- Act as the subject matter expert on capital modelling across the organisation.
- Influence senior stakeholders on capital-related business decisions and strategic initiatives.
- Ensure the capital framework remains aligned with regulatory and business developments.
Skills and Experience Specification
Essential
- Significant capital modelling experience within a London Market insurer, reinsurer or Lloyd’s managing agency
- Proven ability to translate complex technical analysis into clear commercial insight
- Excellent written and verbal communication skills, with the ability to explain complex capital modelling concepts clearly and appropriately to a range of stakeholders, including technical teams, senior management, Boards and regulators.
- Demonstrated ability to lead, develop and support high-performing teams.
Desirable
- Qualified actuary or equivalent relevant professional experience.
- Experience of regulatory capital submissions, internal model governance and senior stakeholder engagement.
- Strong organisational and analytical skills, with the ability to identify, assess and communicate emerging issues in a timely manner.
- Awareness of relevant industry developments, regulatory trends and emerging capital modelling practices, alongside a commitment to robust governance and controls.
- Experience in Standard Formula Cat
- Experience using programming languages and analytical tools, particularly Remetrica and / or Python.
Tokio Marine HCC is a leading specialty insurance group with offices in the United States, the United Kingdom, Europe, and other locations. With the strength and stability that comes from being a member of the Tokio Marine group, and more than forty years of growth, profitability, and stability, we offer important insurance products that most people do not even know exist.
The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.
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