Interim Capital Modelling Manager

About you and the role:

Reporting into the Group Head of Capital Modelling, the Interim Capital Modelling Manager is responsible for the Modelling function providing  solutions to Enstar’s modelling needs across the business. Key models include the regulatory capital models, Enstar’s Internal Model, rating agency models, and the Enstar’s proprietary stochastic pricing model.

The position is responsible for owning, running and providing subject matter expertise of the factor-based regulatory and rating agency capital models on a quarterly and ad hoc basis, and communicating the results to all key stakeholders. 

What you will be doing:

• Manage the quarterly capital reporting process for three Bermuda entities. Ensure data providers are aware of the schedule, deliver on time with controls completed. Review submissions from data providers for reasonability.
• Provide Capital Adequacy and Solvency Calculations – Model BSCR regulatory capital adequacy and solvency for the Enstar Group and its reporting subsidiaries on a quarterly basis. This includes EU and UK subsidiaries that are on the Standard Formula. Coordinate with those preparing regulatory filings. Maintain an effective management reporting framework relating to capital requirements across the group.
• Provide Ratings Agencies Calculations – Model S&P, AM Best and Fitch calculations on a quarterly basis, or as needed.
• Provide Capital Forecasting – Forecast capital adequacy and solvency for each statutory entity and develop a rolling capital plan that captures expected capital movements.
• Communicate with Stakeholders on Model Results – Investigate, explain and report on model results to internal and external stakeholders.
• Provide Support to the Risk Function – Collaborate with the Risk Function on capital modelling related areas that inform the Group’s risk appetite, its Group Solvency Assessment (GSSA), subsidiary Own Risk and Solvency Assessments (ORSAs) and Commercial Insurer's Solvency Self-Assessment (CISSAs), as well as stress and scenario testing.
• Provide Model Support and Rationale Documentation – Provide documentation supporting modelling and key decisions impacting regulated entities and ensure appropriate governance procedures are followed.
• Submit Required Regulatory Reports – Regulatory reporting will include submissions across all regulatory schemes in close collaboration with the Risk function; the process includes appropriate documentation including support of key parameter selection.
• Manage and develop a team of two analysts.
• Automate and simplify processes with a focus on Excel and data transformations.
• Support the Igloo internal models through parameterisation and sensitivity tests as required.
• Responsible for coaching, developing, and motivating direct reports. Responsibilities include but are not limited to recruitment and selection; employee appraisals and proactively addressing employee grievance and performance issues. It is important that these duties are carried out in accordance with Company policies and practices and in conjunction with HR.

What you will bring:

• 7+ years of modelling and/or enterprise risk management and risk mitigation experience within the insurance industry.
• Prior employee management experience preferred.
• Experience of managing, and reporting on, discrete projects.
• Experience within a complex organizational structure and multi-national, highly regulated environment required.
• Proven track record of interacting with senior management, cross-functional personnel throughout the group, external parties, while demonstrating a high degree of professionalism.
• Demonstrable ability to question and improve processes and provide challenge as appropriate.
• An internationally recognized accounting or actuarial designation is preferred, or equivalent work experience.
• Knowledge and experience of BMA and/or EU Standard Formula capital framework required. Experience with NAIC, and rating agency models desirable.
• Stochastic modelling knowledge and expertise desirable.
• Bachelor’s degree in a relevant field (e.g. Accounting, Finance, Mathematics).
• Advanced working knowledge of Microsoft Excel and PowerPoint.
• Knowledge of one or more programming language such as VBA, R or Python and the ability to automate processes is desirable.
• Experience in working in a user facing environment including presenting to management, committees/Boards.
• Ability to distil complex materials into summary reports for inclusion wider governance processes.
• Proactive in developing and maintaining positive working relationships with cross-functional team members at all levels.
• Excellent verbal, written communication and presentation skills.
• Excellent quantitative and analytical skills.
• Ability to listen, be flexible yet decisive and to work effectively in a collaborative environment.
• Strong problem solving capabilities, with the ability to start an analysis at a granular level and develop the big picture.
• Strong organisational skills, comfortable working under pressure and to tight deadlines.
• Results driven approach.
• Good organisational skills and strong communication
• Strong computer skills with an emphasis on Microsoft Excel, Power Query, Word and PowerPoint.
• Self-motivated, strong sense of urgency and initiative, highly organized and able to effectively manage multiple priorities in a fast-paced business environment.
• Planning, co-ordination and communication
• Analytical skills and with a conscientious focus on detail
• Ability to meet strict deadlines and prepare timely and accurate management reports.
• Ability to present and communicate financial data concisely
• Ability to adapt and work effectively in a team environment and to proactively establish constructive working relationships with key stakeholders and colleagues across the group.

Your Benefits: 

• Pension (Enrolment is automatic on joining with a 10% employer contribution)
• Dental Insurance (This is an optional taxable benefit available to employee, spouse, and dependents)
• Medical Insurance (This is an optional taxable benefit available to employee, spouse, and dependents through a private health network)
• Travel Insurance (As an employee you are automatically enrolled with business and leisure travel insurance with single, couple, family, or single parent family coverage options.)
• Eligible company funded annual 360 Health Assessment.
• Voucher for free annual eye examination.
• Option to loan a bicycle and safety equipment tax free.
• Wellness Reimbursement program (up to 700 pounds annual reimbursement for wellness related expenses, i.e, gym memberships, massage, etc.).
• Tusker – Electric Vehicle (A fixed monthly amount is taken directly from your gross salary and, in return, you get the use of a brand new electric car.).
• Optional Critical Illness coverage
• Automatic coverage provided by income protection programme
• Access to Employee Assistance Programs (EAP) for health and wellbeing
• One paid annual volunteer day