Willis Towers Watson Igloo Standard Formula Product/Solution Lead in London, United Kingdom

Igloo Standard Formula Product/Solution Lead

Date Posted: June 14, 2018


Not ready to Apply? at https://willistowerswatson.avature.net/WTWTalentNetwork


Summary of Role

The role is to take on responsibility for the day to day management and development of Igloo Standard Formula (“ISF”). ISF is a complete representation of the Standard Formula under Solvency II, which has been implemented in Igloo. The software implements the non-life, life and health calculations, calculating the solo and group Solvency Capital Requirements (“SCR”) and Minimum Capital Requirement (“MCR”). It also includes a Data Control Component (“DCC”), which is an optional additional governance feature to control model and data versioning, role based permissions, etc.

The key focus of the role will be to manage the development, maintenance and testing of the software. This will include having a key role in the implementation of new features and capabilities in ISF. Other aspects to the role will include the marketing of ISF, managing client contracting and having ongoing interactions with clients, including undertaking demonstrations of the software to potential new clients. The key aim of the role will be to ensure that ISF becomes the leading software in the market for calculating the SCR and MCR according to the Standard Formula under Solvency II, and becomes a significant profitable income stream for WTW.

The level of responsibility assumed as part of the role will depend on your career level within WTW and prior experience, with the role being flexible around your skills and expertise in different areas. We will provide significant initial and ongoing support to ensure you are successful in the role.

The Role

Your main responsibilities will be as follows:


  • Be instrumental in the selling of ISF, both by leveraging existing client contacts across WTW and by developing your own direct client contacts.

  • Contribute to sales and marketing efforts by assisting in the drafting of proposals, presentations and pitches.

  • Develop and maintain all of the marketing material for ISF – including client brochures, the WTW website and slide decks for client presentations.

  • Respond to queries on ISF from both clients and WTW consultants promptly, including those which arise from the software helpline.

  • Manage the client contracting process for clients purchasing ISF.


  • Build strong, supportive relationships internally

  • Utilise these relationships to access additional resources across WTW to assist with the development and testing of ISF as required.

  • Interact effectively with the Igloo software team to gain assistance as needed in the development of ISF and release of new versions of the software.

  • Demonstrate natural ease and effectiveness when dealing with clients/colleagues at all levels whether in client meetings or internal project meetings.


  • Maintain and develop ISF in response to client and colleague feedback, regulatory changes, changes in the Igloo platform and your own development ideas.

  • Maintain or develop a detailed knowledge of the Solvency II Standard Formula calculation. You will be expected to be amongst the key experts in the firm.

  • Develop an understanding of the appropriate processes required to design, develop and test robust software suitable for client use.

  • Develop and maintain Igloo development skills to support the design and implementation of complex and efficient models.

  • Ensure that ISF is fully tested, such that the quality of the output from ISF is consistently maintained.

  • Maintain a development path for ISF for sharing internally. Agree this development path with key internal stakeholders.

  • Produce a development path for sharing externally in response to any regulatory changes.

  • Adopt a suitable method of project management and development approach to ensure that all updates to ISF are actioned promptly in line with client expectations.

  • Continually monitor Solvency II developments to ensure that ISF is continually up-to-date with the developing regulations.

  • Develop and maintain an up-to-date and user friendly documentation (such as the User Guide for ISF, together with Release Notes to accompany each future release).


  • Assist with the management and reporting of the internal “profit centre” for ISF.


We are looking for candidates with qualifications and skills which may include:

  • Proficiency in Igloo, and ideally DCC and subversion (version control software).

  • Strong Microsoft Office skills, particularly Excel.

  • A good understanding of insurance products, regulations and reporting requirements.

  • A good understanding of Solvency II regulations, including the Standard Formula specification.

  • Financial modelling experience.

We are flexible as to location, but the successful candidate will need to spend 2 to 3 weeks initially in Cambridge, UK and thereafter visit Cambridge on an ad-hoc basis (probably for 1 or 2 days per month). Availability to travel on an as needed basis is also required, particularly across Europe.

The Company

Willis Towers Watson is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas – the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com .

Willis Towers Watson is an equal opportunity employer

Willis Towers Watson believes that effectively managing a diverse workforce is vital to our business strategy. We have an obligation to our organization, ourselves and our clients to hire and develop the best people we can find. We will continually review our policies and practices to ensure that all areas of the employment process (including recruiting, hiring, work assignments, compensation, benefits, promotions, transfers, company-sponsored development programs and overall workplace experience) are free from discriminatory practices. We are committed to equal employment opportunities at Willis Towers Watson.

Unsolicited Contact: Any unsolicited resumes/candidate profiles submitted through our web site or to personal e-mail accounts of employees of Willis Towers Watson are considered property of Willis Towers Watson and are not subject to payment of agency fees. In order to be an authorized Recruitment Agency/Search Firm for Willis Towers Watson, any such agency must have an existing formal written agreement signed by an authorized Willis Towers Watson recruiter and an active working relationship with the organization. Resumes must be submitted according to our candidate submission process, which includes being actively engaged on the particular search. Likewise, for our authorized Recruitment Agencies/Search Firms, if the candidate submission process is not followed, no agency fees will be paid by Willis Towers Watson. Willis Towers Watson is an equal opportunity employer.


Not ready to Apply? at https://willistowerswatson.avature.net/WTWTalentNetwork


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  • Location:London, England, GBCambridge, EnglandReigate, England

  • Date Posted:June 14, 2018