This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.
Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.
The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.
Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.
Job Purpose:
To manage the integrity of the capital modelling environment, including risk inputs to and reporting from the Internal Model as appropriate for Solvency II compliance, or as directed by Lloyd’s / the Regulator.
Actively participate on initiatives aimed at improving and developing the model. Ensure that the capital model is embedded within the business and to promote the use of the model within the business to support business decisions.
Promote the positive contribution of the Enterprise Risk Management team across capital, pricing, reserving and risk to the wider Ascot objectives, through the team’s involvement in Group-wide projects.
Detailed Syndicate Duties:
The production, parameterisation and validation of the SCR calculations as required for Lloyd’s.
This includes the LCR submission,
Standard Formula submission, and
PRA Return.
Maintain Internal Model to ensure that the Internal Model is compliant with the relevant tests and standards particularly those in Articles 120-126 and is operating effectively.
Responsible for identification and implementation of Internal Model developments to ensure to ensure that its scope remains appropriate for the business as well as fit for purpose.
Support and develop uses of the internal model including risk appetite, strategic and business planning, ORSA and outwards reinsurance pricing and assessment.
Manage the integrity of the capital modelling environment and the associated processes.
Manage internal model change process in line with Internal Model governance, ensuring that governance policy is adhered to.
Responsible for production and maintenance of internal model documentation, including policies, technical documentation and methodology reports.
Train and motivate staff to ensure that an appropriate level of technical expertise is available to support the capital modelling function.
Liaise with the regulator (PRA/Lloyd’s) as required.
Key contributor to the Syndicate business planning process.
Contribution to the annual Actuarial Function report, in particular with respect to the reinsurance opinion.
Key member of the Internal Model Committee.
Assist the Chief Actuary to communicate model assumptions, limitations and deficiencies to Risk Committee / Board as required, including strategies to limit or mitigate limitations.
Liaise with other teams within Ascot to ensure the model risk profile is reflective of the various areas of the business it is representing, in particular catastrophe (Exposure Management), reinsurance and reserves (E&Y).
Represent Ascot’s interests in market forums on Solvency II and matters relating to capital modelling.
Undertake relevant technical training and attendance of relevant modelling events/seminars.
Detailed Group Duties:
Lead build out of a group level Insurance Risk model.
Including model design, parameterisation and documentation.
This will require:
Managing relationships with the Ascot US actuaries and the Ascot Bermuda CRO,
Presenting information to the Group Economic Capital Model (ECM) working group, and
Providing result extracts to meet internal and external requirements.
Wider actuarial work:
Undertake relevant technical training and attendance of relevant events/seminars required to maintain CPD.
Provide actuarial support for other Ascot offices, including Ascot Re and Ascot US.
Please be aware that Ascot Group’s job opportunities will be posted on our official careers page. All official communication comes from @ascotgroup.com email addresses, if you receive a job offer or recruitment communication from Ascot Group that you suspect might be fraudulent, do not hesitate to contact us directly to verify its legitimacy. We will never ask for payment or sensitive personal information during any stage of the recruitment process. Your privacy and trust are of utmost importance to us, and we strive to ensure that you have a positive experience with Ascot Group.
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