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Nicosia
CareerFinders, on behalf of our client, a global, market-leading Insurance company with offices in the heart of Nicosia, we are seeking to recruit a well-qualified Capital Management Actuary to join their expanding team of professionals.
Key Duties/Responsibilities:
- Responsible for supporting the risk management and capital planning of the business reporting to the Chief Risk Officer.
- To provide senior management with analytical tools and timely management information to empower them to effectively manage the risk profile and plan the capital requirements of the business.
- To embed sound risk management techniques within the business and raise awareness / promote use of risk based capital modelling throughout the business.
- To ensure that there is sound governance around the risk based capital modelling including risk identification, modelling, monitoring and reporting.
- The job holder takes direction from the Chief Risk Officer.
- Maintain the internal capital models (Company / Lloyd’s / ACGL / Rating Agency) in support of our regulatory and economic capital requirements including the appropriate governance structure (use, scope, change, validation, calibration, profit & loss attribution, statistical quality standards and documentation).
- Liaise with Lloyd’s regarding regulatory requirements, including Lloyd’s Capital Returns and model validation submissions.
- Maintaining the standard formula calculations and determining ongoing appropriateness of use of the standard formula.
- Determine and monitor capital adequacy and produce a clear articulation of quarterly model changes.
- Ensure compliance with all industry legislation, regulation, codes of practice, guidance and controls relevant to the role.
- Ensure that appropriate risk measures are maintained and regularly reported on, including ongoing development of management reports from the capital models and input into the ORSA.
- Risk mitigation processes are understood and allowed for in the capital models and calculations.
- Maintaining model uses, including reinsurance purchasing being evaluated against capital considerations.
- Completion of the quarterly technical provisions calculations and the corresponding regulatory reports alongside the Finance team.
- Improve efficiencies in existing processes with consideration of alternative tools where this can be achieved.
Key Skills/Experience:
- Knowledge and experience in all aspects of general insurance actuarial work, covering all major lines of business.
- Knowledge of PRA / Lloyd’s requirements & modelling techniques.
- Strong business & financial acumen with the ability to communicate technical issues in a clear and coherent way.
- Qualified actuary (or due to qualify in the next 6 months) with at least 4 years of capital modelling experience, ideally in the London market.
- Ability to work in a small size team with potentially conflicting priorities across the business.
- Strong IT / software skills.
- Track record of delivery.
- Fluency in English (Written & Spoken).
To apply for this vacancy, please send your CV, along with any covering letter to jobs@careerfinders.com.cy quoting the above Job title or alternatively call +357 22 002 285 for more information. Please note that due to the high volumes of applications received only shortlisted applicants will be responded to.
