Capital Modelling Lead

Capital Modelling Lead

London – Hybrid working, 2 days a week in the office

DLG is evolving. Across every facet of our business, our teams are embracing new opportunities and putting customers at the heart of everything they do. By joining them, you’ll have the opportunity to not just be recognised for your skills but encouraged to build upon them and empowered to do your absolute best.

Our Corporate Actuarial teams deal with risk on a billion pound scale. Bringing together the widest range of skills, tools, and information, they calculate the risks and potential claims from across the organisation. Market leading techniques. Maximised profitability. Business-wide connection. That's how we support some of the UK's most recognisable brands to grow and develop.

What you'll be doing

Our customers and shareholders rely on DLG managing its risk. You will support this through the assessment and quantification of risk, including capital requirements. You will lead elements of the calibration and applications of the internal economic capital model ('IECM') within DLG. It will also involve leading the planning and successful implementation and delivery of large strategic projects, usually in partnership with Capital Management and Strategy teams. The role also involves providing expertise on actuarial and business issues especially around capital modelling.

• Ensure executive decisions based on a clear understanding of the impacts on IECM capital requirements, now and in the future, with recommendations for improving the Group's risk and capital position.

• Lead, plan, manage analysis that keeps the IECM up to date and aligned with DLG's risk profile. To include leading analysts to deliver updates following a pre-agreed annual timetable, and following all IECM governance processes.

• You will work with SMEs in the business with insights in to the risks being modelled within the IECM, and also working with the independent validation team to provide the necessary assurances around the IECM updates.

• You will also require facing off to senior stakeholders in various governance fora to explain technical aspects of the modelling, the modelling results, and justifying any expert judgements being made.

• To communicate and educate users of the model, provide insight into associated deliverables such as risk appetite, ORSA and other ad-hoc decisions or analysis requiring consideration of capital requirements and resources.

• Ensure models researched and built for capital modelling and its applications use appropriate techniques & data and are efficient, high quality, well documented & verifiable.

• Lead large/complex projects with potentially changing requirements

• Investigate solutions to complex issues; communicate with stakeholders to develop the reputation of Corporate Actuarial as a centre of excellence within Direct Line Group.

• Lead and role model the performance management and development of the actuarial analysts; review work, considering the outcome of the task; provide feedback and create opportunities for learning in daily activities; delegate work to analysts to develop their experience.

• Communicate effectively within the team and to external stakeholders to ensure thorough and accurate understanding of issues and resolutions.

• Ensure that own professional and industry knowledge is always up to date.

• Be aware of and direct the team in complying on an ongoing basis with the requirements of relevant professional/legal/regulatory/risk management frameworks, e.g. Technical Actuarial Standards, Solvency II, IFRS 17 & UK GAAP requirements. Identify and manage the risks involved in running our business appropriate to this role, following the company risk framework.

Our hybrid model offers a 'best of both worlds' approach. When you'll be in the office depends on your role and team, but colleagues spend at least 2 days a week in the office

What you'll need

• Capital modelling and management experience in general insurance, with the ability to convey technical insights to both technical and non-technical audiences

• Proven ability to communicate complex modelling results in a clear, compelling manner, influencing decision-making at senior levels

• Experience in stakeholder management and communication within a governed environment

• Exceptional verbal and written communication skills, with the ability to adapt messaging for different audiences

• Excellent analytical and problem-solving skills, paired with the ability to articulate insights and recommendations effectively

• Experience with mathematical and statistical modelling tools and models, with the ability to explain key methodologies and assumptions to non-specialists

• Strong relationship-building skills, with a track record of fostering collaboration across teams

• Experience of capital modelling and Solvency II

Benefits

We recognise we wouldn't be where we are today without our colleagues, that's why we offer excellent benefits designed to suit your lifestyle:

Be yourself

Direct Line Group is an equal opportunity employer, and we think diversity of background and thinking is a big strength in our people. We're delighted to feature as one of the UK's Top 50 Inclusive Employers and are committed to making our business an inclusive place to work, where everyone can be themselves and succeed in their careers. We know you're more than a CV, and the things that make you, you, are what bring potential to our business. We recognise and embrace people that work in different ways so if you need any adjustments to our recruitment process, please speak to the recruitment team who will be happy to support you.

#LI-Hybrid

#LI-AG1