Reports to:

Head of Capital


Summary of Role:

To lead the Risk Management function of Ascot Underwriting Limited, including promoting a positive risk culture, reporting on risks and potential emerging risks the company as a whole may be exposed to, and reporting the results of risk assessment for Solvency II Compliance, Lloyd’s Minimum Standards and other Regulator and Rating agency requirements.

To manage the validation of the internal model, including setting the scope and process in order to report on the model’s overall appropriateness and compliance against Solvency II, Lloyd’s/PRA or other regulatory requirements.

Actively participate on initiatives aimed at improving and developing the Ascot group risk function.  Ensure that a positive and open risk culture is embedded within the business and to demonstrate the support we can provide in aiding all teams from anticipating issues, managing and resolving them.

Promote the positive contribution of the Enterprise Risk Management team across risk, validation and capital to the wider Ascot objectives, through the team’s involvement in Group-wide projects.


Specific Job Responsibilities:

  • Manage the integrity of the risk management environment and the associated processes. This should include continued improvements to the Risk Register, through regular risk review meetings and risk assessment analyses.
  • Contribution to the build out and ongoing support of the risk functions across all Ascot offices, including Ascot Re and Ascot US.
  • The production of quarterly risk appetite reporting (ORSA) to Risk Committee and Board, and Annual ORSA report as required by both business and by regulators.
  • Review and update Risk strategy, framework, and appetite document. Responsible for production and maintenance of risk related documentations.
  • The scoping, production and final reporting on all aspects of the validation cycle of the internal model, from determining nature and limit of tests, deep-dive areas, to review all test conclusions to feed into the final validation report for Lloyd’s; following model change and each annual cycle.
  • Liaise with external validator in determining the scope for the annual validation cycle and review findings for the final issuance of independent validation report.
  • Liaise with Internal audit (external) in their assessment of teams and planning of audit cycle; track completion of audit report findings.
  • Ownership of specification and parameterisation of operational risk within the internal model.
  • Liaise with the regulator (PRA/Lloyd’s/Overseas regulators) and rating agencies as required.
  • Assist the Chief Risk Officer to communicate trends and findings from BAU, make recommendations on Risk Committee / Board as required, including strategies to limit or mitigate risks.
  • Attend Risk Committee meetings as required to represent Risk management function and present work performed.
  • Support other teams on areas overlap with risk function, such as Compliance, Delegated Authorities, Lloyd’s market oversight review targeted areas, etc.
  • Provide actuarial support to the wider objectives of the ERM team across pricing, reserving and capital modeling.



  • Undertake relevant technical training and attendance of relevant modelling events/seminars.
  • Represent Ascot’s interest in the market forums in Solvency II and matters relating to risk management.


  • Qualified actuary or with relevant actuarial experience.
  • Experience of capital modelling and model validation.
  • Microsoft Office skills, especially in Word, Excel and SharePoint
  • Strong organisational and project management skills
  • Excellent written and oral communication skills