Head of Capital - PMA

Department: Managing Agency

Employment Type: Permanent

Location: London

To provide actuarial input and analyses of capital issues for Polo Managing Agency clients as required.

Description

Take ownership of the capital modelling process for each of the syndicates managed by PMA. This includes capital requirements calculated under syndicate internal models, Solvency II Standard Formula and Lloyd’s Standard Model (where applicable). Provide robust challenge of capital methodology, assumptions and results where reliance is placed on PMA’s clients or other external resources.

Manage the deliverables from and the relationship with the Marco Group actuarial team, PMA primary outsource provider of Capital Modelling services, along with any other capital modelling service providers as required. Ensure that capital modelling deliverables meet all internal and external deadlines including Lloyd’s, PRA, PMA risk function, PMA finance function and independent validators.

Key Responsibilities

• Support the capital modelling aspects of PMA’s internal projects as required, this may include process / system transformations or enhancements, on-boarding of new syndicates / clients, supporting PMA’s business development activities, and supporting new entrants through the Lloyd’s application and Making It Happen processes.
• Oversee new internal model builds and IMAP applications and major Model Change applications for PMA clients as required. Monitoring, challenge, and—where necessary— improve the quality and flow of data used in the internal model.
• Liaise with the risk management team and internal model validators to ensure model validation process is well supported, and to remediate and close validation issues.
• Liaise with the external stakeholders responsible for the management of each syndicate (PMA’s clients) to gain understanding of business developments and to set and challenge key assumptions.
• Secure buy-in and agreement on capital modelling recommendations with the relevant key stakeholders ahead of internal governance deadlines.
• Oversee the production of committee papers in relation to capital for the PMA capital committee and syndicate management committees.
• Attend and present capital results and recommendations at the Risk Committee, and the Capital Committee.

Skills, Knowledge and Expertise

• Non-Life Actuarial experience preferably in Lloyd’s or London market.
• Team Player with good communication and presentation skills.
• Strong management and leadership skills.
• Ability to work with a variety of disciplines outside of the department.
• Strong planning and organisation skills.
• Qualified Actuary or equivalent.
• Knowledge of Solvency UK.
• Knowledge of Lloyd’s Internal Model methods, processes, and practices.
• Good knowledge of Excel, Word and PowerPoint.

We are an equal opportunities employer and welcome applications from all qualified candidates.