Head of Capital [based in North America]

Department: Actuarial

Employment Type: Full Time

Location: USA (New Hampshire)

Description

Head of Capital London [hybrid, two days in office] Bermuda [hybrid, two days in office] OR North America [remote East Coast] Permanent Full-time OR part-time [4-day week] We are a fast-growing global reinsurance speciality company servicing the insurance markets of Lloyd’s, Europe and North America. Our Chief Actuary - Reserving & Capital is looking for a new Head of Capital to drive the Group’s capital reporting and strategy across several global entities while managing a small team of Capital Actuaries. In this varied and strategic role, a qualified Actuary will get a breadth of market experience, contributing substantially in our M&A and regulatory reporting activities.

Responsibilities

Capital Modelling & Regulatory Reporting·        Lead end-to end development, maintenance and governance of capital reporting models and templates, including quarterly BSCR, SCR and RBC submissions.·        Collaborate with Reserving on the calculation of technical provisions for Bermuda EBS, US and SII balance sheets.·        Manage the preparation of capital and solvency returns, including input to FCR/SFCR, GSSA/CISSA/ORSA and related regulatory filings.·        Collaborate with Reserving on the modelling of reserve risk volatility. Board Reporting·        Author and present capital reports, analysis and positions to senior management, Boards and Board Committees – translating technical output into clear business insights.·        Establish robust validation and governance frameworks in line with the BMA and EIOPA guidelines.·        Lead the production of the annual Capital Management Plan and presentation of this plan to the Boards. Strategic Capital and Deal support·        Partner with Pricing, M&A, Treasury and Finance teams to assess the capital impacts of new transactions - including acquisitions, retrocessions and portfolio transfers - allowing for integration into quarterly capital plans.·        Drive capital-optimisation initiatives across ALM, intragroup reinsurance, portfolio reallocation and capital structuring.·        Provide actuarial expertise on external capital relief structures and financing solutions.  

Collaboration with our Lloyd’s Managing Agent·        Collaborate to validate our Syndicate technical provisions, assess capital requirements and collaborate on model enhancements. Team Leadership & Development·        Build and lead a high-performing global Capital Management team ·        Drive creativity in model design and process improvement, promoting continuous learning.·        Ensure the successful running of Capital Working Groups, aimed at educating and promoting capital optimisation across the Group.

Candidate requirements

Qualifications & Experience
·        Fellow of a recognised actuarial institute (e.g. IFoA, CAS) with ≥ 10 years of non-life/reinsurance experience, including significant capital-management exposure.
·        Proven track record of leading actuarial and capital teams through regulatory submissions and strategic projects.
Technical Expertise
·        Deep understanding of either the Bermuda Economic Balance Sheet framework or Solvency II regulations; and hands-on experience with either BSCR or Solvency II SCR calculations. Candidates based in Bermuda with extensive BSCR and capital management experience but a non-actuarial / accountancy background will also be considered.
·        Familiarity with QRTs, ORSA/CISSA processes and actuarial reporting requirements across multiple jurisdictions including Europe, Bermuda and California.
·        Experience in capital modelling is a strong advantage.
Business Acumen & Communication
·        Strong commercial awareness, with the ability to evaluate the capital consequences of underwriting and strategic business decisions.
·        Excellent stakeholder management skills - able to engage and influence senior leaders and external regulators effectively.
Leadership & Collaboration
·        Demonstrated success in building, motivating and developing actuarial teams.
·        Ability to explain actuarial technical concepts clearly to a non-actuarial audience, drawing out key messages clearly as required for the specific audience.

Benefits

Compre is a global speciality reinsurance company that offers capital and liability solutions to its clients, providing them with the certainty they need on their portfolios. We are known for being trusted partners to the market and for having a team of exp