Capital Modelling Analyst DEPARTMENT:
Risk JOB HOLDER: REPORTS TO:
Head of Capital Modelling Purpose of the Job:
The Capital Modelling Analyst will support the maintenance and development of the Group's capital modelling capabilities and the delivery of key model outputs, including SCR submissions. Principal Accountabilities:
• Support the maintenance and development of the internal capital model under the SII regime.
• Understand and comply with all Internal Model policies to ensure that Internal Model processes are fully embedded in the business as required under Solvency II.
• Support the production of the SCR and other regulatory submissions.
• Assist with the parameterisation of the Internal Model to ensure that it is appropriately calibrated to the 99.5 th percentile.
• Produce timely output to support the implementation of the Risk Management Framework and the Capital Policy.
• Support the production of all necessary reports to the Model Governance Committee, EMC, Risk Oversight Committees, Boards and regulators as and when required and to a sufficient quality standard.
• Assist with the calculation of the SII Standard Formula.
• Feed into regular reviews of current capital modelling methodologies, processes and technology is in place and participate in the implementation of any necessary enhancements.
• Establish and maintain effective working relationships within the business departments (e.g. actuarial, finance, underwriting). Regulatory Conduct Rules
1. Act with integrity
2. Act with due skill, care and diligence
3. Be open and co-operative with Lloyd's, the FCA, the PRA, and other regulators
4. Pay due regard to the interests of customers and treat them fairly
5. Observe proper standards of market conduct Education, Qualifications, Knowledge, Skills and Experience:
• Excellent overall educational background, with 2:1 or First degree in mathematics or a closely related subject.
• Part qualified actuary making good progress through the actuarial exams.
• Able to work independently, manage own workload and act on own initiative where appropriate.
• Sound commercial understanding.
• Good communication skills with the ability to establish and maintain effective working relationships.
• Advanced IT skills.
• Capital modelling experience is preferred but not required.