Head of Capital

You will support the activities of the Specialty business and manage the Capital Team and the operation, uses and development of the Internal Model (IM). You will maintain the code, documentation and parameterisation, and support the IM validation process. The Head of Capital will provide actuarial input into key business processes including business planning, reinsurance strategy and wider risk & capital processes.

The full job description covers all associated skills, previous experience, and any qualifications that applicants are expected to have.

In this role you will be the first point of contact for Capital, maintaining strong relationships with the Lead the Capital Team providing oversight, leadership and management across capital and the capital elements of validation. To include resource and work planning and staff training & development

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• Communicate regularly with the key stakeholders, setting out Capital’s position and achieving understanding and buy in. Other key relationships that should be maintained and strengthened include with Underwriting & Underwriting Strategy, Exposure Management, Reinsurance, Risk Management, Reserving, Pricing and Finance
  
• Maintain, run, develop and parameterise the actuarial elements of the IM. Produce required reporting information, Liaise with Underwriting, Claims, Reinsurance, Pricing and Reserving, explaining outputs, purpose and inputs needed for the IM and getting buy in to the finally selected model inputs
  
• Produce information needed for model uses including SCR, ORSA, PRA information, AoC, SBF, LCM, 1 in 30 AEPs, reserve ranges, risk distributions, reinsurance cost allocation, AFR information etc.
  
• Maintain model documentation, model change log and all relevant model outputs
  
• If resourcing increases, take ownership of and responsibility for the UVM, and expand its use to include other GSI entities, liaising with the key stakeholders xwzovoh including Mike Kerner
  
• Peer reviews the best estimate reserves at least annually, to ensure reasonableness and consistency with IM assumptions
  

Knowledge and Skills

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• Lloyd’s capital processes and requirements
  
• Capital modelling experience with at least three years in a senior position
  
• Tyche experience
  
• Experience in managing three or more staff
  
• Experience of interacting with, and presenting to Board member
  
• University Degree and/or relevant professional qualification