Portfolio Modeling (for a top UK based insurance & reinsurance client) REF95205N

Job Description

We are hiring CAT Modeling professionals for a UK based insurance & reinsurance client.

Were looking for the below mentioned skill-mix. Kindly refer to the job description mentioned against the desired skill-mix. 

1. Portfolio Modeling (3 years relevant work- experience in end-to-end portfolio rollups)

2. Model Validation (4 years experience in Model Validation with tools like RMS/AIR)

3. Reinsurance/ Treaty Modeling 

4. Catastrophe Risk Natural Hazards Research

JOB DESCRIPTIONS:

Portfolio Modeling

Good understanding Cat Modeling process and workflows

Run vendor catastrophe modeling platforms (primarily RMS AIR Elements) for insureds and perform portfolio risk analyses.

Working knowledge of RMS model scope across worldwide peril-regions regarding sub-perils amplification etc. along with basic understanding of cat-modelling four-box principle concerning exposure hazard vulnerability modules and translation of insurance and (re)insurance financial terms through coding in RMS and SQL.

Assist clients in the understanding of catastrophe risk of individual insured through analytics based on catastrophe model results.

Provide analytical support to catastrophe modeling team operations by sharing knowledge and information Develop processes and scripts for process improvements

Provide timely and frequent feedback to team members.

Preparing MIS reports

Training and mentoring of team members inducted in the pricing process.

Assisting in monthly post bind and portfolio rollup activities.

Ensure all SLAs are met

Communication with onshore SPOCs at regular intervals.

1. Portfolio Modeling

Good understanding Cat Modeling process and workflows

Run vendor catastrophe modeling platforms (primarily RMS AIR Elements) for insureds and perform portfolio risk analyses.

Working knowledge of RMS model scope across worldwide peril-regions regarding sub-perils amplification etc. along with basic understanding of cat-modelling four-box principle concerning exposure hazard vulnerability modules and translation of insurance and (re)insurance financial terms through coding in RMS and SQL.

Assist clients in the understanding of catastrophe risk of individual insured through analytics based on catastrophe model results.

Provide analytical support to catastrophe modeling team operations by sharing knowledge and information Develop processes and scripts for process improvements

Provide timely and frequent feedback to team members.

Preparing MIS reports

Training and mentoring of team members inducted in the pricing process.

Assisting in monthly post bind and portfolio rollup activities.

Ensure all SLAs are met Communication with onshore SPOCs at regular intervals.

2. Model Validation:

: Perform model validation and provide recommendations on model use and/or required adjustments.

Work with internal teams and external data providers on analysis utilising available data including scientific information claims and insured exposure

Contribute to and lead Group projects as required liaising with other teams globally.

Produce customised reports on exposure and modelled results.

Evaluate re/insurance pricing for individual accounts and product classes.

Analyse catastrophe reinsurance structures and strategies to support reinsurance placements.

Assist with the analysis of real time events and identify learnings from post-event reviews.

Strong analytical and numerical ability in order to interrogate large datasets

Experience of working with re/insurance catastrophe data and/or catastrophe modelling software

Excellent written and verbal communication skills and the ability to explain technical concepts clearly

Intermediate/Advanced Excel skills

Pro-active attitude to identifying inefficient processes and developing improvements

Desirable Requirements

Knowledge of commercial insurance and/or the catastrophe modelling industry

Sound working knowledge of RMS/AIR and any other vendor modelling platforms

Coding experience in a relevant language (e.g. SQL VBA R C#) Experience in using mapping software (e.g. GIS)

3. Reinsurance/ Treaty Modeling

Key Responsibilities

Maintain and establish reinsurance catastrophe modelling workflows.

Review cedant modelling files transmittal data and allied documents to perform treaty modelling using multiple vendor models.

Support treaty reinsurance pricing and accumulation control process peer review of treaty modelling results.

Communicate relevant information such as treaty loss results exposure and loss analytics and key drivers of risks to underwriters and senior managers.

Support analyses for periodic catastrophe portfolio roll-ups internal and external reporting needs

Provide support for internal projects including testing sensitivity analyses and impact studies Support catastrophe event response reporting

Support the development of tools to help automate current Cat modelling processes

Collaborate present and share knowledge with the wider Exposure Management team and Group Exposure Management function

Use technical expertise to resolve basic catastrophe modelling issues to ensure timely delivery of quality analyses that meet business needs and requirements

Knowledge and Skills

Sound understanding of different types of reinsurance structures Proportional/Non-proportional

CAT modelling experience with in depth knowledge of the underlying model methodologies and assumptions

Technical expertise working with AIR RMS Impact Forecasting and other catastrophe models

Working knowledge of additional re-insurance tools like AnalyseRe TigerEye etc.

Excellent data management skills one must have the ability to manipulate interpret and extrapolate complex data

Excellent interpersonal and communication skills

Strong analytical skill with attention to detail

Strong technical skillset (e.g. Excel /Access/ SQL/ GIS / PowerBI / Python)

Proactive; a desire and ability to lead internal initiatives and research projects to completion

4. Catastrophe Risk Natural Hazards Research

The Role

An exciting opportunity for a Catastrophe Risk Manager to join a leading Exposure Management team at one of Lloyds largest syndicates. The successful candidate will be helping to develop and maintain cutting edge analytics across all classes of business.  This is an excellent opportunity for a candidate looking to have a material impact at a top Lloyds syndicate and global (re)insurer.

The role requires strong knowledge of cat models and cat processes as well as a solid understanding of the commercial insurance business. As an analyst the successful candidate will enjoy a close working relationship with the wider Exposure Management team and have a real opportunity to meaningfully influence the cat portfolio management process and risk selection.

Responsibilities:

• Working with the Analytics & Research and wider exposure management team to drive improvements to view of risk (VoR) across classes of business.
• Work with exposure management team claims and other areas of the business to collect data to help inform VoR improvements.
• Conduct selection and validation of new Catastrophe vendor models and products incorporating them into Canopius VoR and processes.
• Develop research agenda that delivers commercial value to Canopius working closely with underwriting to assess priorities for Natural Hazard classes.
• Work with wider exposure management team to develop and maintain event response processes and to communicate event impacts to wider business.
• Develop in-house approaches to exposure management for perils/risks not covered by catastrophe models.
• Ensure Canopius meets requirements on research and view of risk for both Lloyds Principals and internal controls.

Skills and Experience:

• 8 years experience in a Cat Modelling role insurance experience and RMS/Risk Modeler experience is required
• Highly numerical and strong mathematical/statistical knowledge is required
• Excellent business communication skills ability to influence negotiate and listen
• Experience in model validation and view of risk work is highly desirable.
• Ability to manipulate large data sets with strong Excel and SQL skills.
• Strong experience using Microsoft Power BI for analytic is desirable
• Familiarity with another programming language such as R Python

Qualifications :

Bachelors Degree in Mathematics/ Applied Mathematics/ Statistics/ Operations Research/ Actuarial Science

Remote Work :

No

Employment Type :

Full-time