P&C Insurance Capital Modeler (Actuary or Sr ERM Consultant)

Job Description

Job Category: Actuarial

Minimum Salary: $128,000.00

Maximum Salary: $225,000.00

Schedule: Full-Time

Flexible Time Off Annual Accrual: 20 days

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 should be comfortable working with large data sets and diving 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 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

Preferred Qualifications

• Bachelor’s degree or higher in Mathematics, Actuarial Science, Statistics, Finance, Economics, or similar required
• Minimum 5-7 years relevant experience required
• Strong analytical skills with solid understanding of core casualty actuarial methods, techniques, and standards
• Expert in MS Excel and experience coding; experience 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

Qualifications

• Bachelor's degree required; Master’s degree preferred
• Associateship or Fellowship in the Casualty Actuarial Society (ACAS/FCAS) or in Society of Actuaries (ASA/FSA) designation preferred or comparable education/designation with relevant experience
• Minimum 5-7 years relevant experience required
• Sound knowledge of actuarial techniques and standards, as well as other business operations including financial, underwriting, legal, statistics, claims, sales, etc.
• Advanced communication and interpersonal skills and ability to build relationships and interact effectively with others within and outside the organization
• Ability to motivate and mentor peers and train subordinates
• Advanced computing skills (MS Office Excel, SAS, etc.) with ability to build complex models

Fair Chance Notices

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