Catastrophe Modeling Analyst

  • 37317
  • Non-Life - CAT Modeling
  • |
  • New Jersey, United States
  • |
  • May 4, 2020
Insurance
RESPONSIBILITIES
  • For larger accounts, upload submission information and prior year’s bound file to vendor website for data preparation; when account is available, download the file and verify the quality, validity and completeness of the account prior to modeling.
  • For smaller accounts or accounts where a quick turnaround is needed, prepare and format location data for import into data aggregation software; this usually involves reformatting data in a spreadsheet; it could also involve conversion of data from pdf or manual data entry.
  • Verify quality, validity and completeness of the property location data prior to geocoding and catastrophe modeling.
  • Where location information is incomplete, use internal and external sources to enhance it; where appropriate, use assumptions to distribute the values over selected geographic areas.
  • Use information from the engineering reports to supplement submission information for occupancy type, year built, coordinates, building elevation, and flood defenses.
  • Document the enhancements or changes made to each account to ensure data integrity.
  • Build an effective working relationship with company underwriting and loss control staff.
  • Prioritize CAT pricing requests based on Underwriters’ needs and quoting deadline; prepare CAT pricing reports including details on year-to-year account changes.
  • On a monthly basis, use finalized policy wording to update location data in OpenXposure with participation, limit, peril sublimits, and peril specific deductibles.
  • Add endorsement information to the policy when there is a cancellation, extension, a change in location values, or an addition or removal of locations.
  • Answer questions from manager and colleagues regarding data discrepancies and make necessary corrections in the data aggregation system.
  • Special projects as assigned.
QUALIFICATIONS
  • Minimum 2 years of catastrophe modeling and/or related work experience using catastrophe modeling software such as RMS or AIR.
  • Undergraduate degree in mathematics, computer sciences, finance, actuarial science, or related discipline.
  • Working knowledge of the RMS Industrial Facilities model used for highly-engineered structures.
  • Working knowledge of insurance and reinsurance coverages.
  • Proficiency with Microsoft Office: strong proficiency in Excel and Access for data manipulation, writing SQL queries and VBA.
  • Achievement-Oriented, demonstrates persistence and perseverance in achieving concrete and tangible outcomes by taking action to get optimum results when encountering obstacles or resistance.
  • Collaborative, Develops and maintains effective working relationships across functional and divisional lines by readily sharing information, knowledge, and resources
  • Detail-Oriented, displays thoroughness and accuracy in quality communications and deliverables through the application of technical skills and industry/product knowledge.
  • Service-Oriented, conveys a genuine desire and ability to anticipate and meet customer needs and creates and nurtures mutually beneficial relationships within the company and with Members and broker.
  • Work Ethic, takes ownership for one’s responsibilities by acting with integrity and holding oneself accountable to continuous improvement.