The Global Risk Solutions (GRS) Capital & ERM group is seeking a highly motivated individual to join its Capital Modeling group. This individual will join a small team of capital modelers responsible for designing, developing, and implementing dynamic financial analysis solutions for the Global Risk Solutions organization. The team is responsible for parameterizing the GRS Capital Model and legal entity models, including coordinating with Finance, Pricing, and Reserving, fitting distributions, developing risk dependencies, and supporting capital allocation. The successful candidate will have strong analytical abilities, enjoy developing statistical models and processes, working with large data sets, and diving deep into drivers of line of business dynamics.
Global Risk Solutions is a leading provider of commercial, specialty insurance, and reinsurance products, delivering a wide array of innovative products, deep technical expertise, strong client engagement and market-leading performance worldwide. The product lines include workers’ compensation, commercial multi-peril, surety bonds, crisis management, marine, terrorism, management liability, cyber liability, and energy.
Responsibilities
Collaborate with other team members to achieve the following goals:
Regularly update capital model parameters and assumptions for multiple modelsDevelop new solutions and improvements for statistical models and processes used to calculate these inputsImplement timely and practical solutions to complex problemsLead collaborative projects with Finance, Reserving, Pricing, and Underwriting with the goal of better understanding the business and reflect that understanding in model parametersCommunicate processes and parameterization results to stakeholders outside the team
Preferred Qualifications
Expert in MS Excel and experience coding; Experience working with Visual Basic for Applications (VBA) and Capital modeling software, R, and Python preferredExperience with stochastic financial modeling and forecasting preferredExperience parameterizing reserve risk and UW risk preferredComfort with solving new problems and generating ideas for improving existing processesExperience communicating analysis and technical concepts Qualifications Competencies typically acquired through a Bachelor`s degree in a quantitative fieldAdvanced degree (MBA) and/or professional qualification in one or more areas of risk management is preferred, and 8 to 10 years of relevant experienceAdditionally, excellent quantitative analysis and modeling skills are required, in addition to significant experience in an analytical capacity (e.g, financial analysis, product management, actuarial, underwriting, etc)Working knowledge of ERM-related regulatory frameworks (Solvency II, NAIC ORSA, ComFrame) is a plusVery strong understanding of the risk characteristics of insurance industry requiredExcellent understanding of basic financial concepts and metrics, including financial statement analysis required About Us**This position may have in-office requirements depending on candidate location.**
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