Capital Modelling Analyst

Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.

We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.

Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

Role Purpose

To support the Aspen Capital Modelling team in the design, development, implementation, maintenance and use of the Aspen Economic Capital Model (ECM). This role includes

• assisting in the delivery and analysis of results.
• assisting in the communication with key stakeholders; and
• fulfilment of regulatory requirements.

Our Aspen Values are expected to be reflected in the delivery and performance of every role.

Key Results Areas

Strategy and Planning

• Supporting the production of ECM deliverables to various regulatory entities relevant to Aspen, including the PRA, Lloyd’s of London, and the BMA as well as rating agencies
• Supporting the entity-level business planning and reforecasting processes, including the production of capital calculations and associated exhibits, including explanations of movements from both a technical and ‘real-world’ perspective

Policy, Process and Procedures

• Compliance with the ECM’s operational control processes and other processes deriving from Internal Model policies (e.g. model change, documentation etc.) and proactively seeking to improve existing controls and processes that currently exist

Environmental Awareness/Customer Focus

• Supporting the effective and pro-active communication of capital model results and analysis to key stakeholders across the Aspen group, including explanation of movements in capital arising from changes to the underlying risk profile of the firm, or from changes to the model’s methodologies, assumptions or parameters

Technical Performance

• Working with other Aspen teams responsible for providing data to the Capital Modelling team to ensure adequate data quality and active management and resolution of issues and timetable constraints
• Accurate and timely processing of data feeds, analysis, and other information for use as inputs into the Aspen ECM
• Assisting with elements of the development, maintenance and regular update of the ECM including development of methodologies and model coding, parameter reviews and exposure analysis to ensure the ongoing appropriateness and robustness of the Aspen ECM
• Supporting the production of analysis and commentary to aid risk reporting to Aspen’s committees and boards and communication with other key stakeholders across the Aspen group

Knowledge

• Knowledge of basic insurance concepts
• Knowledge of Capital Modelling techniques and analysis (Tyche or Igloo knowledge highly desirable), including application to Solvency II or equivalent regimes

Skills

• Strong communication skills, both oral and written
• Proficient in standard software tools (e.g. Excel, Word, PowerPoint)
• High degree of proficiency dealing with quantitative concepts, with a strong analytical and problem-solving approach
• Proactive approach to improving processes and challenging the status quo
• Experience of programming highly desirable (e.g. VBA, SQL)

Experience

• Graduate with a 1st or Upper 2nd (2:1) degree from a top-tier university, in a subject involving a high level of numerical or quantitative content
• Part-qualified or student actuary, demonstrating good progress with the actuarial examinations
• Ideally experience of actuarial work in the non-life insurance sector (for example gained within a consultancy or London Market organisation).

At Aspen we know that having a diverse and inclusive workforce is good for our people, good for our business and good for the environments in which we operate.  We therefore welcome applications from people which allows us to draw on diverse cultures, perspectives, skills and experiences.