Our client has a strong reputation in the market for bringing their clients bespoke offerings to solve their problems.
They are more than just a conventional actuarial consultancy. While being market leaders in the traditional actuarial areas, such as reserving, pricing and capital modelling, they operate as part of the wider Consulting business and are seen as the heartbeat of the Insurance team and key to unlocking new work for the sector. These projects cover strategy, risk management, analytics, underwriting and finance transformation, implementation of technology, and capital optimisation.
These projects demand an increased level of classic consulting skills – more intensive client interaction, much wider than actuarial, and up to senior executive and board level.
As they look to strengthen their team at the Manager level, you would be an integral part of building out the team and delivering on their growth strategy.
They are looking for someone with a technical background in capital modelling as well as the skills and energy to grow as a consultant.
You will have access to a wide range of opportunities to support your growth and develop your wider business knowledge, and to nurture internal and external relationships across disciplines and borders.
They have a culture of innovation and they encourage the team to challenge status quo, you will have the opportunity to be part of their journey to improve the way they deliver to clients.
Your key responsibilities:
- Manage to completion the technical delivery and reporting for projects (primarily model validation, build and capital management), providing insight to projects on technical capital matters
- Projects will include a range of capital related subjects such as model build, documentation and validation, as well as increasing your knowledge in market developments e.g. climate change
- Support on wider capital-related projects such as Transactions or Finance/Actuarial transformation
- Develop and support people through effectively supervising, coaching and mentoring
- Play your part in their internal Capital FoE, developing their tools and people to stay ahead of the market and support sales-oriented client interactions
- Run and develop their capital benchmarking surveys, including client meetings to play back results and highlight key points of interest
- Lead discussions with client contacts and manage expectations of delivery, content, timescales and cost
- Present to clients at senior executive and board levels
- Assist in responding to client proposals
- Play a role in how the team operates and develops – such as feedback, counselling, finance, recruitment, learning and development
Skills and attributes for success:
- A strong quality ethic, and ability to share knowledge and good practice
- Dynamic capability, working with a variety of stakeholders and viewpoints
- An ability to manage clients’ expectations in relation to deliverables
- Excellent communicator in a range of situations both written and oral
- Strong levels of organisation
- A real desire to work as part of a team, and to be part of a people centric community
- Identifies risk on the assignment, involving the Senior Manager/Director/Partner appropriately in its resolution
To qualify for the role you must have:
- Significant actuarial experience in the London Market or leading-edge UK retail insurance and will be a qualified (or very nearly qualified) actuary with degree-level qualification
- Have deep experience in the following:
- Designing, building and parameterising capital models, ideally under Solvency II
- Embedding internal models into key business decision making, for example extending model use to business planning, reinsurance purchasing, risk monitoring, technical pricing etc.
- Primary and/or independent validation of key model components and the ability to develop quantitative review tests to assess and challenge internal model parameters and output
- Designing appropriate diagnostics and preparing internal model output reports to clearly communicate internal model results to senior management / board
- Extensive experience of developing models in at least one capital modelling software platform; Igloo, Tyche and/or Remetrica
- You will have a track record of managing a capital modelling team or managing capital activities and projects. You will require energy and dedication combined with a desire to fit in well, yet make your presence felt within their collegiate team
- You will need to be an effective communicator and able to deal with outward-facing client management on projects
They are currently engaged in increasing their capacity for larger capital modelling and validation projects. This is in response to their success in the market place for their services. They are in a strong position to build on their existing client-base which varies by market sector, and by size. These projects are demanding an increased level of classic consulting skills – more intensive client interaction, much wider than actuarial, and up to senior executive and board level. The team will be strengthened by experienced candidates who bring with them, or are willing to rapidly develop, both consulting skills and expertise in the effective business application of software.
Ideally, you’ll also have experience in:
- Capital management – including assessing the methodology and sufficiency of capital buffers, managing the capital constraints of multinational groups operating in different capital regimes and experience in reinsurance and capital optimisation projects
- Solvency II Standard formula – advising on interpretation of the Solvency II guidance for the SCR calculation under the Standard Formula
- Risk – defining appropriate risk tolerance metrics, drafting risk appetite statements, contributing to your organisation’s ORSA process
- Visualisation – using visualisation packages to identify trends and communicate key model output to senior management
What they look for:
They are looking for candidates who can apply actuarial approaches through a commercial lens and are excited about helping their clients improve the way they operate – whether this is through transformation of processes, underwriting and claims analysis, or through transactions and regulatory change.
You’ll thrive on being a numerate, rationale thinker with a passion for this field and have a very strong attention to detail.
Being a strong team player is important as well as someone who is happy to work flexibly on different clients and different engagements.
They are a diverse and inclusive team; their working styles are flexible and are supportive in allowing for everyone to work in a way that meets their needs. They use technology effectively in their work to enable easy transition between office and home working where appropriate to your style.