Capital Modelling Lead

Capital Modelling Lead

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

Let's make the most of your talent

At Direct Line Group, insurance is just the start. Combining decades of industry experience with talented people in every field from data, technology, customer care and auto repair to HR, finance and procurement, we're a customer-obsessed market powerhouse. We all work together to be brilliant for customers every single day.

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 and maximised profitability 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.

This role involves leading the planning, successful implementation, and delivery of large strategic projects, usually in partnership with Capital Management and Strategy teams. It also involves providing expertise on actuarial and business issues, especially around capital modelling.

• Ensure executive decisions are 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 and manage analysis that keeps the IECM up to date and aligned with DLG's risk profile, including leading analysts to deliver updates following a pre-agreed annual timetable.
• Work with SMEs in the business to gain insights into the risks being modelled within the IECM and collaborate with the independent validation team to provide necessary assurances around the IECM updates.
• Face off to senior stakeholders in various governance forums to explain technical aspects of the modelling, the modelling results, and justify any expert judgements being made.
• Communicate and educate users of the model, providing 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 and data, and are efficient, high quality, well documented, and 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 actuarial analysts; review work, provide feedback, and create opportunities for learning in daily activities.
• 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.
• Direct the team in complying 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.

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.

What we'll give you in return

We wouldn't be where we are today without our people and the wide variety of perspectives and life experiences they bring. That's why we offer excellent benefits to suit your lifestyle and a flexible working model combining the best parts of home and office-working.

• 9% employer contributed pension.
• 50% off home, motor and pet insurance plus free travel insurance and Green Flag breakdown cover.
• Up to 20% annual bonus.
• 30 days holiday + bank holidays and the option to buy or sell up to 5 days.
• Additional optional Health and Dental insurance.
• EV car scheme allows all colleagues to lease a brand new electric or plug-in hybrid car in a tax-efficient way.
• Buy as you earn share scheme.
• Employee discounts and cashback.
• Plus many more.

Ways of Working

Our mixed model way of working offers a 'best of both worlds' approach, combining the best parts of home and office-working, offering flexibility for everyone. How much you'll be in the office depends on your role, and we’ll consider the flexible working options that work best for you.

We recognise and embrace people that work in different ways, so if you need any reasonable adjustments within this recruitment process, please reach out to us and we can discuss how we can support you.

There's no one else like you. No one with the exact same mix of strengths, quirks, skills, and thoughts. That's why you could belong here. As part of a team of brilliant individuals, in a place that empowers you to be the best you can be. We're proud of who we are, of what we do, and what every single one of us brings.

Join us. Help us keep innovating and putting customers at the heart of everything. Together we can achieve great things, inspiring, challenging, and supporting each other to aim higher.

Together we're one of a kind.