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Job description

Job Description:
Position: Senior Risk Actuarial Analyst (part / nearly qualified)

Reporting to: Risk Actuary

Location: York based with flexible working options

Role description:

This role reports to the Risk Actuary within the Risk Team and assists in the co-ordination and production of model validation across the Group as well as supporting the team in analytical and actuarial areas of the risk management framework such as stress and scenario testing, risk appetite, regulatory reporting and specific risk reviews. Exposure to different regulatory regimes operating across multiple jurisdictions, alongside understanding the complexity of operating within a group framework will provide the successful candidate with an excellent foundation for their career.

This role offers an exciting opportunity to a promising candidate to get involved in Enterprise Risk Management processes within the team. The exposure to all key business areas, with a focus on Hiscox's Lloyd's Syndicates and Group, provide insight into the business that is not typically seen by more traditional actuarial student roles. The role will have exposure to the Group Risk Director as well as the Chief Risk Officer.

The Team:

The Risk team is responsible for facilitating the implementation, delivery and oversight of Hiscox's Risk Management Framework which includes risk appetites, emerging risks and incident capture and analysis operating to a three lines of defence risk management model. As a second line function, the Risk team balances its role of supporting the business with its responsibility to provide credible, effective challenge. The team produces high profile reporting that is seen by Executives, Boards and Risk Committees both at a Group level and for subsidiary legal entities. In some instances this reporting is also provided to regulators.

Key responsibilities:

  • Under the guidance of the Risk Actuary, carry out model testing and validation of material components and risks, produce analysis and provide challenge to a level to enable the team to give the legal entity Boards confidence that the Hiscox Internal Model is accurately capturing the risks that they're exposed to.
  • Review primary validation tests and develop and perform secondary validation tests for all components of the internal models.
  • Produce near final drafts of validation technical notes, findings' logs and reports for consumption by model owners, governance committees, the Executive, Boards / Risk Committees and regulators.
  • Ensure validation processes, outputs and documentation reflect tangible improvement and enhancement from previous cycle.
  • Work with the teams responsible for model build to ensure a robust feedback loop.
  • Support and improve stress and scenario testing and risk appetite monitoring across the Group by helping to collect, analyse and interpret data.
  • Support the production of regulatory processes and submissions, including ORSA, and ad-hoc risk MI and risk monitoring and reporting, including preparing presentations, performing specific risk reviews, etc.

Person Specification:
Qualification / Technical experience

  • Part - nearly qualified Actuary with significant experience of Capital model validation.
  • Actuarial / statistical experience at an insurance company or consultancy.
  • Knowledge or experienced in Capital Modelling either through experience or actuarial exams
  • Understanding of Solvency II and equivalent regulatory actuarial and risk requirements and related reporting.
  • Knowledge of key risk types as applicable to retail / commercial (re)insurance.
  • Good knowledge of Excel and other Microsoft Office software
  • Ability to solve problems and put forward new ideas.
If you would like to know more about the role, or you are having any difficulties with the application process please send your CV and the four-digit job ref number to
[email protected]
Job Sector
Job Position
York, UK Show on map
Post date
Closing date

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