Deputy Head of Capital

Deputy Head of Capital

Department: Managing Agency

Employment Type: Permanent

Location: London

Description

Polo Managing Agency (PMA) is looking for an experienced and commercially minded actuary to join our Actuarial team as Deputy Head of Capital.

This is an exciting opportunity to play a key role in the oversight, review and challenge of capital modelling activities across multiple Lloyd's syndicates. Working closely with the Head of Capital, Deputy Chief Actuary, Chief Actuary and CFO, you will have significant visibility across the business and exposure to senior decision-makers, regulators and market stakeholders.

The role combines technical expertise, governance oversight and strategic influence, making it ideal for an actuary who enjoys challenging assumptions, improving processes and helping businesses make informed capital decisions.

Key Responsibilities

• Support the Head of Capital in overseeing capital modelling activities across PMA-managed syndicates.
• Review and challenge capital methodologies, assumptions, model outputs and recommendations.
• Oversee syndicate capital requirements calculated under Internal Models, Standard Formula and the Lloyd's Standard Model where applicable.
• Ensure capital models continue to reflect each syndicate's evolving risk profile and business strategy.

• Work closely with underwriting, pricing, reserving, claims, finance and risk teams to ensure capital assumptions remain appropriate and relevant.
• Provide effective challenge where reliance is placed on third-party providers, clients or external resources.
• Support engagement with Lloyd's and other stakeholders on capital-related matters.
• Assist in presenting capital analysis, recommendations and model outputs to governance committees and Boards.

• Coordinate capital modelling deliverables to ensure key regulatory and internal deadlines are met.
• Monitor progress, identify delivery risks and help drive successful outcomes.
• Contribute to strategic business initiatives, including:
• Internal process and systems enhancements
• New client onboarding
• New syndicate launches
• Business development projects
• Lloyd's "Making It Happen" applications

• Support oversight of:
• New Internal Model developments
• IMAP applications
• Major Model Change submissions
• Validation and model governance activities
• Work with independent validators and risk teams to ensure validation findings are addressed and closed effectively.
• Review outputs from sensitivity testing, stress and scenario testing, back-testing, P&L attribution and other validation activities.

• Support the production and review of:
• Lloyd's Capital Returns (LCRs)
• PRA Internal Model Outputs (IMO)
• Standard Formula submissions
• ORSA reports
• Capital committee and governance papers
• Ensure documentation and processes remain aligned with Solvency UK, Lloyd's and actuarial professional requirements.
• Support Board and committee reporting on capital-related topics and emerging issues.

Skills, Knowledge and Expertise

• Qualified Actuary (or equivalent professional qualification).
• Strong non-life insurance actuarial experience.
• Experience within the Lloyd's and/or London Market.
• Experience reviewing, challenging or validating capital models and capital outputs.
• Strong stakeholder management skills and the ability to communicate complex concepts clearly.
• Proven ability to work across multiple disciplines and business functions.

• Strong understanding of Solvency UK requirements.
• Knowledge of Lloyd's Internal Model methodologies, governance frameworks and capital processes.
• Experience of capital modelling software such as Tyche or equivalent platforms.
• Strong analytical, planning and organisational skills.
• Advanced Microsoft Excel skills and strong PowerPoint and Word capabilities.

Benefits

Benefits Band 4

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