Job Type:

Contractor

Build a brilliant future with Hiscox

Risk Actuary (6mths Contract for Paternity Cover)

Reporting to the Head of Quantitative Risk

London-based, with flexible working options

The role demands strong quantitative and analytical capabilities in Solvency II, capital and risk modelling, and model validation gained in the Lloyd's Market.

Role Description:

Reporting to the Head of Quantitative Risk and as a part of the Group Risk team, the Risk Actuary specialises in technical and actuarial areas of the risk management framework.

During the period of cover, the Risk Actuary will play a key role in the Stress and Scenario Testing exercise, quantify Risk Appetite and Limits and contribute to all quantitative areas of the ORSAs.

Responsibilities also include, carrying out a Standard formula reviews, supporting on addressing Lloyd’s feedback on the Internal Model validation exercise as needed, supporting the review of the 2026 Operating Plan and supporting ad-hoc risk review required by the business.

You will drive the delivery of key risk actuarial outputs and actively help the first line enhance and embed a comprehensive but proportional internal controls environment. You will have exposure to all key business areas in the Group, with a focus on Hiscox’s Lloyd’s Syndicates, and you will enjoy wide-ranging responsibility, which meets both internal and external standards

The Team:

The Risk team is responsible for facilitating the implementation, delivery and oversight of Hiscox’s Risk Management Framework which includes risk appetites, emerging risks and incident capture and analysis operating to a three lines of defence risk management model. As a second line function, the Risk team balances its role of supporting the business with its responsibility to provide credible, effective challenge. The team produces high profile reporting that is seen by Executives, Boards and Risk Committees both at a Group level and for subsidiary legal entities. In some instances this reporting is also provided to regulators.

Key responsibilities:

Model validation of the Internal Capital Model, Standard Formula, and risk models across the Group, including those relating to Lloyd’s syndicates. This includes challenging key assumptions, assessing methodologies and limitations, preparing validation reports, and effectively communicating findings to modelling teams.
Leading aggregate stress and scenario testing exercises as part of the ORSA process.
Supporting the setting of Risk Appetite and risk limits in collaboration with senior management.
Analysing the Group’s risk profile and exposures across key areas.
Coordinating quantitative elements of the Own Risk and Solvency Assessments (ORSAs).
Conducting Standard Formula reviews across the Group to ensure ongoing compliance and relevance.

Skills / Qualification / Experience Required:

The role demands strong quantitative and analytical capabilities in Solvency II, capital and risk modelling, and model validation. It also requires:

In-depth risk and actuarial professional and commercial knowledge gained in the Lloyd's Market either with another Insurer or from the Big 4/8.
Deep understanding of risk appetite frameworks and risk quantification.
Experience in preparing and reviewing validation documentation to regulatory standards.
Confidence in engaging with regulators and senior stakeholders.
Strong communication skills, with the ability to explain complex technical topics to both technical and non-technical audiences.
Proven ability to build and manage business stakeholder relationships to support effective risk management.
A qualified actuary with experienced in Capital and Risk modelling, Solvency II risk appetite and model validation.

About Hiscox

As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

Diversity and Hybrid working

At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success.

We have also learned over the past few years that working life doesn’t always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work life balance.

This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.

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Work with amazing people and be part of a unique culture