Capital Modeling Actuary

  • 34431
  • Non-Life - Actuarial
  • |
  • Massachusetts, United States
  • |
  • Dec 5, 2018
  • Enterprise Risk Management and Capital Modeling.
  • Collaborate with Corporate, Investments and Global Risk Solutions to support risk/capital quantification and assessment as well as resulting equity allocations.
  • Enhance, update and maintain the Igloo-based economic capital model by ensuring the appropriate model structure, data requirements, insurance risk parameters and correlations framework needed for business decision-making.
  • Research, understand and incorporate changes in the company, the marketplace, external risk perspectives and non-economic capital constraints.
  • Be the subject matter expert in risk quantification in collaborating with GRM Finance, Product and Actuarial on ERM activities including assessing non-cat risks, identifying emerging risks, developing a cultural “risk mindset” and reporting quarterly to the ERM Committee.
  • Improve risk-reward tradeoff assessments.
  • Allocate equity down to individual products/geographies for financial planning and setting target combined ratios, balancing multiple capital constraints and perspectives on risk.
  • Improve long-term, strategic planning by developing tools to assess of changes in risk profile and materials to educate / inform business decision-makers on risk-reward tradeoffs.
  • Perform and/or supervise deep dives into complex risk analyses such as the value of earning vs tail volatility, economic scenario analysis and expanding use of predictive models.
  • Ensure efficient and effective processes.
  • Adapt, standardize and maintain the tools /policies / procedures used by the regional teams to evaluate evolving risks and risk mitigation efforts.
  • Integrate risk assessments into the business analyses including those used for business analysis, planning and forecasting.
  • Support the US and E&W regional teams at times of when they are at peak capacity.
  • Fellowship in the Casualty Actuarial Society designation required, or comparable. education/designation combined with relevant experience.
  • 5-10 years progressively responsible experience.
  • Solid understanding of all casualty actuarial techniques, standards, and assumptions.
  • Demonstrated ability communicate technical concepts to broad audiences.
  • Ability to establish and build effective relationships within and outside the organization.
  • Demonstrated commitment to company’s Values, including a focus on continuous improvement and creating a culture of inclusion.