Senior Actuarial Associate

Lloyd is the world leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market brightest minds, working together for a braver world. Our role is to inspire courage, so tomorrow progress isn’t limited by today risks. Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that more sustainable, resilient and inclusive, you’ll find a home at Lloyd – build a braver future with us. Lloyd are seeking to recruit a Senior Actuarial Associate. The role is a capital modelling senior actuarial associate within the syndicate capital team, demonstrating technical expertise in the review of various aspects of syndicate capital models. This includes review of the work of junior analysts and management of processes. As a member of the MRC team, you may also be expected to be involved in the wider team activities, including reserving and the LIM (Lloyd internal model). Market Reserving & Capital (MRC) is the actuarial department in the Corporation and is responsible for market oversight as regards monitoring the adequacy of reserves and capital at syndicate level, and for the calculation of capital requirements for members and the Central Fund. Within MRC, the Syndicate Capital team carries out all oversight tasks relating to syndicate capital, including Review of submitted SCRs Validation report review Model change and Solvency II compliance As well as providing interesting and unique technical challenges, the role provides a perspective of the Lloyd market as a whole and insight into its challenges and opportunities from a commercial perspective Principal Accountabilities Syndicate Capital Reviews Undertake autonomous and risk-based review of syndicate models Design and ensure sufficient technical criteria, review frameworks and documentation are developed and followed as part of review processes Ensure processes are auditable and in line with the latest regulatory requirements Design and provide relevant review tools (such as simplified models to run as sense checks) to assist in the reviews Provide training and oversight of analyst model reviews Syndicate deep dives Undertake detailed review of syndicate internal model, against the Capital Principle of the Principles of Doing Business at Lloyd Syndicate major model change reviews Undertake review of syndicate major model change submissions, including expert knowledge of Solvency II requirements Communications Interact with external stakeholders, including being a designated point of contact for managing agents, which includes interaction with managing agent capital and management teams on processes and areas arising as part of capital oversight Update the Senior Manager, Syndicate Capital on issues and developments in the review process Provide internal training on the required process and technical requirements Present conclusions and recommendations to Actuarial Oversight review group (AORG) on capital model reviews and syndicate capital adequacy Liaise with internal teams as required as part of capital review or other oversight activity, including Syndicate Performance, Exposure Management and Performance Management to ensure consistent and co-ordinated approaches Wider actuarial team involvement Assume project leads responsibilities, managing these projects to successful delivery As required, be involved in work areas within the wider actuarial team including those in relation to the Lloyd Internal Model Leadership expectations Lead the work of junior members of the team on the projects and pieces of work involved in, providing guidance and technical assistance Potential line management responsibilities for junior team members in the syndicate capital team Skills and Knowledge Experience in non-life insurance work, preferably across a range of work areas. Capital modelling experience is required. Experience in managing project work to completion Qualified or nearly qualified as a Fellow of the Institute and Faculty of Actuaries (or equivalent) Knowledge of the actuarial techniques involved in non-life insurance Knowledge of various IT tools including Excel, Word Knowledge of / interest in programmatic approaches, including the use of VBA, R and capital modelling tools Diversity and inclusion are a focus for us – Lloyd aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development. You can read more about diversity and inclusion on our website. We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility.  Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc).  These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes. By choosing Lloyd's, you'll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems. Should you require any additional support with your application, or any adjustments, please click the following link; https://cleartalents.com/apply/lloyds-msa1645695881 Please note, clicking on this link does not register your application for the vacancy Lloyd aim is to build a diverse, inclusive environment that reflects the global markets we work in and in which everyone is treated with dignity and respect. We will invest in attracting the best talent to Lloyd, making sure recruitment is targeted at bringing in the skills we need to evolve. We will develop a talent pipeline that provides us with the key capabilities we will need for the future. To also create a culture in which every employee fulfils their full potential, ensuring that leaders role-model the behaviours we expect in ourselves and others.