About Us

The Fidelis Partnership is a leading privately-owned, Bermuda-based Managing General Underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty insurance and reinsurance products. The Fidelis Partnership is one of the largest Managing General Underwriters globally and its operations also include outwards reinsurance, claims handling, exposure management and portfolio analytics. The Fidelis Partnership also sponsors and incubates specialist MGAs through its Pine Walk platform. The Fidelis Partnership is separately owned and managed from the ownership and management of Fidelis Insurance Group.

Across product lines and geographies, we focus on three diversified pillars: reinsurance, specialty and bespoke solutions. We are truly diversified. Our long-standing partnerships with capital providers and quota share partners make us nimble. Our breadth of expertise and capabilities deliver outstanding market returns.

The Role

The Senior Capital Modelling Actuary will report to the Head of Capital and will additionally provide analytics to the Head of Exposure Management Reporting and Head of Ceded RI. Responsibilities will include maintenance and calibration of the Internal Model Outwards RI Analysis tool, working with the Capital Model, Outwards RI and Exposure Management teams to ensure the inwards and outwards view of risk within the internal model is fit for purpose and supporting the Head of Capital in the use of the modelling to aid in decision making.

Key Accountabilities

• Support the successful maintenance and operation of Internal Model Outwards RI, and Intra-Group RI, modelling;
• Own the calculation and reporting of the outwards reinsurance recoveries for RDS and other scenarios;
• Provide proactive analysis on reinsurance renewal and new pricing cases;
• Assist on model uses, including reinsurance optimization, driving profitability across the Group;
• Support the use of the capital model to provide insight into wider business strategy and management of risks;
• Assist with calibration, review and testing of the capital model, including playing a key role in the capturing of reinsurance details and assumptions within the Internal Model;
• Assist on ad-hoc group actuarial reporting requirements;
• Work collaboratively with other members of the Capital Team to support day-to-day management of model uses and timely delivery of analysis including optimization of inwards and outwards underwriting plans and counterparty risk to support driving profitability across the Fidelis Group;
• Support the Head of Capital and Group CFO with the use of capital model to provide insight into wider business strategy and management of risks, including the provision of standardized model outputs to inform the regulatory capital assessment completed by others in the business; and
• Document work clearly in line with Technical Actuarial Standards and ensure all work produced is appropriately peer reviewed.

Skills & Experience

• Bachelor’s degree, preferably in Mathematics, Science or Economics or providing wider evidence of strong mathematical acumen
• Experience in reinsurance modelling and optimization would be an advantage
• Must be a critical thinker who can interrogate problems and provide challenge when required
• Attention to detail as well as ability to check the reasonableness of own work, with the ability to articulate why results/conclusions of work produced are appropriate
• Ability to combine technical analysis and judgement-based inputs with appropriate signposting of limitations
• Ability to multi-task and prioritise own work against the needs of the business
• Minimum of 3 years’ experience capital modelling within the (re)insurance industry
• Demonstrates an understanding of DFA models like Tyche, Igloo or similar
• Proficient in Excel, with strong analytical and problem-solving skills
• Strong communication skills, with the ability to engage effectively with actuaries and non-actuaries across the business
• Must be able to self-lead and work effectively both independently and with teams
• Ability to deliver within agreed deadlines, adapting existing analyses to deliver appropriately to ad-hoc requests

Other

The Fidelis Partnership Ethos

At The Fidelis Partnership, we aim to be different while making a difference.

• We set the standard for quality in our industry. Guided by our expertise, our clients can take unique and material risks with confidence.
• Our approach is tailored and designed to deliver excellence for our clients. We are trailblazers, creating unique solutions in the (re)insurance space. 
• We are experts. Our brokers and clients value the depth of our knowledge and experience. We leverage state-of-the-art underwriting technology to be a market leader.
• We believe sound ethics make for good business. We deliver value for our customers, investors and communities while actively avoid trading with industries that cause harm to people, the environment and animals.
• We pride ourselves in creating a workplace that prizes execution, meritocracy, Diversity & Inclusion.  Our people herald from countless backgrounds and are united by ambition and the unabashed desire to deliver excellence every day. We provide a competitive environment that helps people cultivate themselves professionally and personally and balance a rigorous workplace with a mindset that prioritises environmental and charitable activities in our communities worldwide.

Our ethos dictates our decisions and actions. It unites us as a team of experts and colleagues and provides us with a compass for ensuring we deliver our best to every stakeholder we serve.  

Diversity, Equity & Inclusion

Diversity & Inclusion in the workplace

• Insofar as possible, we aim to ensure the composition of our workforce reflects the make-up of the local community
• We have specific programmes in all our offices to support diversity within the hiring process, e.g. internship and scholarship award programmes
• This is a particular focus in Bermuda, where we engage actively with local organisations to source diverse talent and provide coaching/mentoring for underrepresented groups
• We aim to maintain a focus on equal opportunities across all stages of hiring process 
• We measure and minimise the pay gap where possible.

Bring Your Whole Self to Work

Our vision is for a workplace culture where differences are valued and where diversity of background, experience and thought are welcomed. We want to create an environment where all employees, regardless of who they are, are given equal opportunities for career progression and enjoy fair reward from their and The Fidelis Partnership's successes. This will be driven by a workforce that embraces Diversity & Inclusion at every level, in every department across The Fidelis Partnership.

To ensure that all candidates have a fair opportunity to show their abilities during the recruitment process, adjustments may be required. If your physical or mental health or disability may necessitate an adjustment, please contact fidelis@avenciaconsulting.com to discuss. All information relating to your health or disability will be treated in accordance with our data protection policy.

Apply by 30/09/2024

Reference: FID01154