Portfolio Modeling (for one of Lloyd’s largest syndicates)- REF95205N

Job Description

We are hiring CAT Modeling professionals for one of Lloyd’s largest syndicates.

We're 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 Lloyd’s 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 Lloyd’s 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 VBA, .NET, R, Python