Risk Optimisation (Capital Modelling)
An opportunity to join a cutting-edge (re)insurer with no legacy systems, no historical data and an off-the-shelf calculation kernel. Over the coming years there are two main challenges: designing and embedding processes for calibrating the calculations in the absence of historical data; and opening up the calculations for use by the rest of the business in running its day-to-day operations.
The successful candidate will work on the end-to-end capital modelling process, from coordination and calibration of inputs, model design and development, through to outputs, reporting and use.
Some of the key tasks may include:
- The development and embedding of the Tyche capital model, including but not limited to building and executing robust and repeatable processes to:
- Source relevant data for the capital model
- Parameterise and calibrate the capital model
- Ensure the appropriateness of methodologies and approaches used within the capital model calculation engine
- Run, test and validate the capital model
- Produce outputs and reports that are useful within the day to day, executive decision making of the company and any relevant regulatory and rating agency requirements
- Maintain adequate and proportionate documentation of key processes, decisions and governance of the capital model, both for best practice and with a view to future Solvency II model approval
- Champion understanding and use of the capital model within the business and executive including designing and implementing innovative and practical uses of the capital model within the business
- Be part of and lead projects within the Capital Model team
Skills, Knowledge and Expertise
- Robust grasp of capital modelling techniques, ideally including Tyche / TCM.
- Desire to be at the leading edge of capital modelling, capital and risk management, shareholder value optimisation, and making use of the latest technological innovations.
- Analytical in your approach with a passion for solving problems. You have good credentials in Probability/Statistics/Bayesian Statistics.
- The ability to digest and communicate complex technical issues clearly to a varied audience, both verbally and in writing.
- You enjoy working as part of a non-hierarchical team with mixed levels of experience.
Benefits
- Competitive Salary
- 30 days Annual Leave
- Birthday Leave
- 10% Employer Pension Contribution
- Private Health Insurance Medical Cover
- Group Income Protection
- Life Assurance Cover
- Enhanced Parental Leave
- Annual Health Check
- 3 days of Volunteer Leave each year
- 10 days of help with care (elder/ childcare) through Bright Horizons
- £1,300 to spend on learning & wellbeing
- Give as You Earn
- Cycle to Work
- Season Ticket Loan
About Convex Insurance
In 2019, Stephen Catlin and Paul Brand co-founded Convex with $1.7bn of initial committed capital to underwrite insurance and reinsurance for complex specialty risks. The company has since received an A.M. Best rating of A (Excellent) and regulatory approval to operate in London, Bermuda, Luxembourg and United States.
We have also welcomed leaders in their fields from across the insurance industry, bringing a diversity of thought and approach.
We live our values in every facet of our business:
Earn our reputation
Everything we do affects how others see us. Our success depends upon our reputation, for which all of us share responsibility.
Straightforward and fair
We tell it like it is, with fairness, dignity and respect. We strive to do the right thing always, however hard it seems.
Determined to improve
However good we are, we are not complacent. We know we can always be better and we never stop trying to improve.
Inspired by opportunity
We come to the market and to every client engagement without baggage. There is no limit to what we can achieve together.
Enjoy being different
We feel positive about change and we are not afraid to try new things in our quest for a better way for clients, stakeholders and colleagues to do business.