The role is to provide support to MRC regarding Solvency II activities. This may include covering elements of MRC business as usual activities to backfill current resource demand from Solvency II.
Major responsibilities and accountabilities: Solvency II: •Syndicate Dry run review: •Provide actuarial support to Solvency II account managers by reviewing syndicate Internal Models and identifying key issues, attending agent meetings and discussing modelling points, completing modelling part of checklists and benchmark analysis •Assist Lloyd’s regarding QIS5 •Lloyd’s completion of QIS5 •analysis of syndicate QIS5 submissions •support for agents if required •Support Lloyd’s development of technical provision methodologies for Solvency II •including design and completion of thematic analyses •Reserving (BAU)
Areas potentially required to cover are: •Assist in development and operation of the annual Reserve Benchmarking model •Provide feedback for managing agents on results •Assist in maintenance and consistency of MRC data (especially Solvency & Reserving Data and quarterly market incurred data including direct feeds from agents) •Assist in market reserve monitoring, i.e. monitor for large or unusual quarterly incurred movements including MRC’s “early warning” system •Assist in MRC independent projections of market reserves / held surplus. This would include review of projections •Assist in providing all overseas regulators with reserve estimates and syndicate splits to satisfy their requirements. This may include review of underlying calculations Capital modelling (BAU):
•Areas potentially required to cover are: •Syndicate ICA review process: •If required, provide actuarial support to team leader by reviewing ICAs and identifying key issues, attending agent meetings and discussing modelling points, completing modelling part of checklists and benchmark analysis •Carry out analysis as required by MRC regarding capitalisation and especially ICA submissions. Other:
•Support to other areas of MRC and other departments as required. •It is expected analysts will be involved in most or all of the above activities. The exact split will depend on demand and developments during 2010.
Qualifications:
Bachelors
Experience:
2 years +
Languages:
English : Speak / Write Fluently
Job-Type:
open-ended
Remuneration:
unspecified
Permit Type:
EU National
Region:
London
•Good A’ levels (or equivalent) with at least one mathematical subject (or equivalent). •Graduate calibre with a mathematical or science based background. •Work experience in insurance or finance is beneficial though not necessary. •Commitment to obtaining the actuarial qualification (previous exam passes are a plus though not necessary). •Basic IT skills (minimum). Ability to obtain an advanced level of IT skills (Excel, Access and VB). •Ability to manage priorities. •Clear and concise communication with management, colleagues and other departments. •Ability to answer queries in a timely and efficient manner especially when under pressure. •Ability to (further) develop actuarial skills. •Potential to study for actuarial exams with support whilst working.
Capabilities: Relationship Management•Strong relationship management and partnership building skills •Excellent communication and interpersonal skills •Ability to translate complex technical issues into clear and understandable guidance or information •Customer-focussed Information Management •Strong organisational skills •Good business analysis skills •Strong judgement and decision making skills •Strong problem solving skills Project Management •Project management skills useful but not essential •Flexible approach to adjusting priorities Risk Management •Good risk management skills •Good risk ‘radar’ and effective detection / risk escalation strategies People Management •Ability to motivate self and work individually with little supervision under own initiative •Supportive and approachable style •Good collaborative information sharing skills
Lloyd's is the world's leading insurance market providing specialist insurance services to businesses in over 200 countries and territories.
