IECM Development Manager

The role

COVID-19

Were actively looking for people to join our teams, and were committed in protecting your health and wellbeing during every step of our recruitment process. If youre successful in securing a role with us youll find well be doing things a little bit differently! This may mean youll initially join our team working from home. During this time well work with you to make sure you have the tools and equipment you need and that you feel part of our outstanding DLG team!

About Us

Direct Line Group is one of the top tier motor, home and small business insurers in the UK and home to some of the nations best-known brands: Direct Line, Churchill, Privilege, Green Flag and NIG. Our mission is to make insurance easier and better value for customers.

We currently have an exciting opportunity to join our Bromley based Fiance team as Internal Economic Capital Model Development Manager.

The Role:

Our customers and shareholders rely on DLG effectively managing its risk. This role supports this through the assessment and quantification of risk, including capital requirements. The purpose of the role is to manage the maintenance and development of the internal economic capital (IECM) model.

What you'll be doing:

Leading, planning, managing and delivering the maintenance and development of the IECM. This includes: managing the model change process; maintaining the model change log; producing the model change reports; providing updates on the above to IMG and the rest of the business.

Responsible for model release process which includes making model changes, reviewing model changes, completing model change approval forms and creating and presenting model change approval packs.

Production of an IECM development plan covering 12-18 months ahead.

Functional management of principal analysts and hub analysts in relation to IECM maintenance and development tasks.

Leading the tracking and closure of issues or limitations as recorded on the IECM Issues and Limitations log; includes maintaining the log and producing regular MI.

Maintaining an inventory of all standard IECM output reports and drive improvements in accessibility and automation of IECM Outputs.

Maintaining a view of all data flows within the IECM.

Coordinating the functional testing of all aspects of the IECM including contributing to the documentation of this testing.

Assisting in provision of MI to explain movements in the IECM outputs over time.

Working with TS and/or external consultants to provide, maintain and improve the Igloo infrastructure. Assisting as and when required in assessments of new tools and platforms to improve IECM production.

Driving improvements in the operational aspects of day to day running of the IECM.

Assisting in the delivery of regulatory capital submissions.

Ensuring that your professional and industry knowledge is up to date at all times. Actively share your knowledge and experience to drive and advise standard methodology within your team especially in the areas of model development (e.g. coding best practice). Facilitate the professional and commercial development of team members.

To keep up to date with industry and regulatory developments around IECM methods and visualisation of outputs.

Contributing to the management of the capital modelling team through regular team meetings, provision of MI, helping to build an environment of individual responsibility, technical excellence and continuous improvement.

What we are looking for:

Previous technical management experience in Finance

Ideally a qualified actuary or working towards the accreditation

Thrives in a process driven environment (self led and governance)

Ability to review and understand information from a broad range of sources

Proficient communicator who can operate and influence across a broad spectrum of stakeholders