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Job Descrption
The job holder will manage the Reinsurance & MGA Modelling work outputs in London supporting Property, Construction, Marine and other lines of business underwritten by the treaty, MGA and syndicate binders teams. The position is embedded within the Reinsruance/MGA Pricing & Modelling Team in London and is responsible for:
- creation and ownership of cat modelling results used for pricing and internal/external reporting
- developing and clearly communicating reliable CAT analytics to underwriting teams and other internal and external Stakeholders
The job holder will also represent the Reinsurance/MGA Portfolio Cat Modelling team in the ongoing and future development of SCOR catastrophe modelling systems and will ensure consistency of CAT modelling approach across SCOR’s treaty & delegated business.
- Manage CAT Pricing, Contribution and Accumulation Process: Oversee and manage pre- and post-bind CAT pricing process. This includes checking accuracy of exposure data to reasonability/plausibility of the analysis results for pricing and portfolio accumulation. Support and help Underwriters interpret and use outputs from CAT models appropriately and ensure data used within CAT models represent the underlying exposure.
- Manage the external data scrubbing team: including organisation, resource allocation, training and development of team members and with other areas in SCOR and the SCOR Syndicate, in cooperation with pricing actuaries, internal and external Stakeholders.
- CAT Reporting: Ensure that regular portfolio roll-up and probabilistic analyses are delivered on schedule for SCOR Treaty/MGAs/Binders, including peer-review and sign-off. Support wider team in the preparation and submission of CAT data to stakeholders, both internal (e.g. NORMA, Retro and CAT Accumulation Team) and external (e.g. Lloyd's)
- CAT Modelling and Implementation of SCOR One View of Risk: Ensure consistency of CAT Modelling approach is maintained across SCOR Treaty/MGAs/Binders as per SCOR Nat-Cat Handbook
- CAT Pricing Platforms and Systems: Support current and future CAT systems (e.g. Risk Reveal, ARC, CAT Extract) development, which includes writing technical specifications/user stories, producing run-books and validation/reconciliation of results.
- CAT Model Evaluation: Represent TreatyMGA/Binders Risks CAT Modelling in ongoing CAT modelling projects such as evaluation of new CAT models or new peril-regions, impact analysis on any model changes and implementation of appropriate adjustment factors to reflect SCOR view of risk.
- Continual Improvement of CAT MI, Pricing & Accumulation process: Continually look for ways to improve efficiency of modelling, pricing, and portfolio workflow. Support other Stakeholders in designing and improving analytics and MI related to CAT modelling at segment and portfolio level to support management in decision making
- Pricing and Accumulation for Non-Modelled CAT: Work with external Stakeholders to develop pricing/accumulation methodologies for territories or lines with no models, or where those available are in need of improvement (e.g. offshore platforms in non-RMS modelled regions, global flood pricing and accumulation based on hazard scores, etc.)
- Other ad-hoc projects, reports and responsibilities as required
Experience
- Result-oriented individual with proven management experience in an Exposure Management or Cat Modelling team either in Lloyd's Market or Reinsurance setting
- Strong catastrophe modelling skills and portfolio management for direct/insurance business, using RMS RiskLink (preferable) or AIR Classic2/Touchstone.
- Success in leading CAT projects in past
- Experience working with Microsoft Excel, Access, SQL and/or programming languages like R and Python within a cat modelling context
- Good understanding of the underwriting process, including commercial considerations and policy terms and conditions
Personal Competencies
- Effective communication and collaboration skills with excellent interpersonal verbal and written skills that enable the candidate to communicate with colleagues and across functions.
- Ability to engage and build strong and effective relationship/rapport with Underwriters and other internal/external Stake holders
- Must be self-motivated and able to operate independently
- Leadership skills. Takes the initiative to identify areas for further development, with effective implementation of solutions/projects. Leads the team by example. Manages self and others against high personal standards. Empowers staff to take responsibility. Gives team-members stretch goals when assigning tasks or responsibility. Attracts and retains high potential individuals.
- Ability to deal with challenges and think on their feet when dealing with Underwriters and Senior Management
- Shares know-how and technical knowledge with team members (locally and globally). Ensures co-operative spirit and energises others by showing pride to be part of the team.
Education
- Masters or Bachelor’s degree in a relevant subject such as Natural Science, Geography, Engineering, Mathematics or Economics, or equivalence
- Professional qualification would be an advantage (desirable but not required)
In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.
At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.
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