Capital Actuary

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. And we all work together to be brilliant for customers, every single day.

We’ve now welcomed our new CEO, Adam Wilmslow, and are at the start of an exciting period of change for DLG. With ambitious plans for large-scale transformation, we’re going to see a refreshed strategy to drive value for our customers, colleagues and shareholders.

Our Actuarial teams deal with risk on a billion pound scale. Bringing together the widest range of skills, tools, and information, they calculate the risk involved in any given policy – and ultimately a potential claim. Market leading techniques. Maximised profitability. Business-wide connection. That’s how we support some of the UK’s most recognisable brands to grow and develop.

What we're looking for:

We are looking for a nearly or newly qualified Capital Actuary to join our finance department! You’ll be part of our Capital Modelling team within Finance at DLG, and being one of the UK’s leading insurers, you’ll have the opportunity to work with our business areas and leadership teams on a range of different insurance product and risks.

DLG’s Internal Model is an approved, solvency model fully integrated with the Group's risk management framework, which is widely used across the business to assist with decision-making.

What you'll be doing:

The purpose of this role is to monitor, evaluate, and provide key deliverables in respect of DLG’s capital position and associated exposures, as well as providing support to the development and implementation of strategy for optimisation of capital.

You’ll take an active role in all of DLG’s capital modelling processes, including the operation, parameterization, documentation and validation of the Internal Model and you’ll take ownership of certain components of the IM.

What else you’ll do:

• Plan and deliver estimates, forecasts and actual positions for the DLG’s core capital measures including developing and maintaining models used for estimation and forecasting, communicating key movements, and presenting to model stakeholders

• Support the delivery and execution of capital application projects like reinsurance purchase, investment strategy, capital allocation, risk appetite review including strategic M&A opportunities across the group.

• Support the internal model’s validation process by carrying out primary validation analyses, help resolve validation issues identified; and preparation of the primary validation report;

• Develop ad-hoc reporting tools for the internal model to meet increasing business demands. Specific areas of focus include risk appetites, capital allocations and return on capital, reinsurance analyses, risk distributions and business scenario analyses;

• Maintain internal model documentation in relation to its components and also support the delivery of reports focussing on annual capital KRIs and results presented to the Internal Model Oversight Committee.

These are exciting times as we are rebuilding our internal model in Tyche which offers a great opportunity to develop hands-on experience with Tyche.

You'll need:

• You'll be analytically and technically minded; an excellent problem solver who is at ease with working independently.

• You’ll have strong financial and actuarial experience, with a capital modelling background (preferably with hands-on experience in Igloo/Tyche). 

• You’ll understand the material risks to which an insurer maybe exposed, with an understanding of a broad range of commonly used capital modelling techniques.

• Experience or passion for mentoring junior members of the team on the projects and other activities.

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. Most of our colleagues meet in the office 2 days per week. We'll consider the flexible working options that work best for you.

Read our flexible working approach here.

Benefits

We recognise we wouldn't be where we are today without our colleagues, that's why we offer excellent benefits designed to suit your lifestyle:

• 9% employer contributed pension

• 50% off home, motor and pet insurance plus free travel insurance and Green Flag breakdown cover

• 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.

• Generous holidays

• Buy as you earn share scheme

• Employee discounts and cashback

• Plus many more

Being yourself

Direct Line Group is an equal opportunity employer, and we think diversity of background and thinking is a big strength in our people. We're delighted to feature as one of the UK's Top 50 Inclusive Employers and are committed to making our business an inclusive place to work, where everyone can be themselves and succeed in their careers.

We know you're more than a CV, and the things that make you, you, are what bring potential to our business. We recognise and embrace people that work in different ways so if you need any adjustments to our recruitment process, please speak to the recruitment team who will be happy to support you.

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