Description
Purpose:
To monitor the Group's economic, including Solvency II, capital positions and develop, lead and execute projects to optimise the capital position.
Assist in the production and review of the Group's regulatory and Solvency II capital forecasts.
Develop, lead and execute capital projects, which will enhance the economic capital efficiency of the Group.
A strong working knowledge of the PRU rules will be essential for the development of appropriate action plans.
Complete one-off assessments of the impact strategic actions will have on the Group's economic capital positions and provide recommendations to Senior Management.
To provide capital input into the monthly board pack, quarterly press release, annual report and accounts, and regulatory returns
Support the Senior Executive team with embedding the Internal Model methodology into the business.
Work will initially focus on supporting the following workstreams - Planning Strategy and Performance, Capital Allocations, Investment Management and Risk and Capital Integration.
Strengthen communication links with the other functions in order to enhance the accuracy of the capital forecast model and avoid any unforeseen movements.
Carry out regular monitoring of regulated entity economic capital positions and ensure processes are in place to rapidly deploy capital within the Group if internal capital buffers are breached.
Accuracy with which economic capital requirements are forecast and monitored given forecasting assumptions made and financial information provided by Group Finance.
Satisfaction of Internal Model Committee with:
Feedback from internal customers and stakeholders on:
Consistency with relevant PRA and EIOPA guidelines and/or requirements
Delivery of project contributions and/or projects to time, cost and required outputs
Qualified accountant or actuary with a strong working knowledge of the PRU rules.
Preferably having worked in a capital management/controllership function in the insurance or banking industry.
Proven track record in the analysis and presentation of complex financial information
Good knowledge of:
- FSA's approach to risk based capital management
- Solvency II
- Rating agency capital views and models
Strong skills in:
- Financial management practices
- Qual & Quant data analysis methods
- Use of financial appraisal tools (NPV, IRR, etc)