Insurance Risk Modeler

Job Category

Actuarial

Minimum Salary

$117,000.00

Maximum Salary

$225,000.00

Schedule

Full-Time

Flexible Time Off Annual Accrual - days

20

Pay Philosophy

The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications, and location. The full salary range reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role.

Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

Description

The Global Risk Solutions (GRS) Capital & ERM group is seeking a highly motivated individual to join its Insurance Risk Modeling team within the Capital Modeling & Analytics group.

The larger GRS Capital Modeling & Analytics team is responsible for designing, developing, and implementing dynamic financial analysis solutions for the Global Risk Solutions organization.

This individual will join a group of modelers responsible for parameterizing and modeling Insurance Risk for the GRS Capital Model, legal entity capital models, and other risk models.

This work includes coordinating with data owners, parameterizing model inputs, developing risk dependencies, model validation, and supporting model uses.

The successful candidate will have some commercial lines actuarial experience, strong analytical abilities, and enjoy developing statistical models and processes.

They will work with large data sets and dive deep into drivers of line of business dynamics. We encourage commercial lines pricing and reserving actuaries without capital modeling experience to apply for this role.

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 with the goals.
• Regularly update capital model parameters and assumptions for multiple models.
• Run the capital model and validate capital model outputs.
• Develop new solutions and improvements for statistical models and processes used to calculate these inputs.
• Implement timely and practical solutions to complex problems.
• Collaborate with model stakeholders across GRS to better understand the business and reflect that understanding in model parameters.
• Collaborate with modeling and risk management teams across the company to improve our understanding and modeling of risk.
• Communicate processes and results to stakeholders outside the team.

Qualifications

• Competencies typically acquired through a Bachelor’s degree in a quantitative field.
• Advanced degree (MBA) and/or professional qualification in one or more areas of risk management is preferred, along with 8 to 10 years of relevant experience.
• 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 plus.
• Very strong understanding of the risk characteristics of the insurance industry is required.
• Excellent understanding of basic financial concepts and metrics, including financial statement analysis.

Preferred Qualifications

• Bachelor’s degree or higher in Mathematics, Actuarial Science, Statistics, Finance, Economics, or similar required.
• Strong analytical skills with a solid understanding of core casualty actuarial methods, techniques, and standards.
• Expert in MS Excel and experience coding; experience working with Visual Basic for Applications (VBA) and capital modeling software, R, and Python preferred.
• Experience with stochastic financial modeling and forecasting preferred.
• Experience parameterizing reserve risk and underwriting risk preferred.
• Comfort with solving new problems and generating ideas for improving existing processes.
• Experience communicating analysis and technical concepts.

Fair Chance Notices

• California
• Los Angeles Incorporated
• Los Angeles Unincorporated
• Philadelphia
• San Francisco