We are looking for Catastrophe Modellers (Analyst/ Sr. Analyst, Advisor/ Sr. Advisor/ Trainee) for a multinational general insurance and reinsurance company.
Catastrophe Modelers quantify catastrophe loss potential of risk exposures carried by different entities, especially Insurers.
The incumbent will be responsible for independently modeling insurance exposures for midsized/light complex insurance books having moderately complex insurance and/or reinsurance terms using leading catastrophe models like RMS RiskLink, AIR Touchstone, CoreLogic RQE as well as proprietary WTW models.
This includes independently preparing the data for analysis, data scrubbing as well as data mining, generating probabilistic loss estimates using catastrophe models as well as creating and visualizing exposure and loss summaries.
Independent thinking and supervised loss investigation, agility with researching systems and resources under basic guidance from seniors/lead analysts are crucial requirements for this role. It also includes coordinating with the onshore Lead analyst in order to ensure modeling and client satisfaction goals are met.
Initiative taking is a very critical expectation at this level and the candidate is expected to feel comfortable with taking initiatives to add value to the modeling process, train/mentor junior analysts as and when needed, perform SPOE reviews whenever requested and also upskill themselves on complex catastrophe modeling concepts and upcoming technologies.
The candidate is expected to work on projects that include dynamic deliverables with shifting timelines, involving multiple stakeholders. The models and technology are also continuously evolving. As such, the candidate should display great alacrity and agility and should be an excellent team player who can adapt to changing circumstances and the dynamic nature of demands/challenges.
- Model input preparation – Includes data preparation as well as data scrubbing using SQL/Excel.
- Analyzing the exposures – Includes geocoding the exposures, implementing modeling assumptions accurately in the modeling process, ensuring correct model and peril settings, etc. in order to quantify insurers’ catastrophe loss potential.
- Generating reports – Includes using internal tools like iFM, WorkFlowManager for creating exposure as well as loss summary reports, visualizing various statistics by creating maps using SpatialKey, ArcGIS, etc.
- Running proprietary models – Running customized peril analysis using WTW proprietary models.
- Model Sensitivity Analysis – Testing the change in model output with change in input parameters.
- Answering SRQ – using internal tools and modeled losses for answering Natural Catastrophe portion of SRQs.
- Modeled loss investigation – Undertake studies to find drivers of losses and validate the loss movements. May need some support from the seniors for complicated loss movements .
- The incumbent will also be expected to co-ordinate and communicate with the onshore lead analyst as and when needed in order to
- discuss the progress made as well as any items of significance
- seek feedback and suggestions
Desired skills and competencies
- SQL (including stored procedures) Intermediate/Advanced
- Excel (including VBA) Intermediate/Advanced
- Statistics including knowledge of simulation methodologies Intermediate/Advanced
- Catastrophe Model Framework (including RiskLink and Touchstone Financial Modules) Intermediate/Advanced
- Insurance and Re-insurance terms coding, including multi layered sublimits and policy restrictions Intermediate/Advanced
- Treaty coding Intermediate/Advanced
- Proprietary Modeling (iQUIP modeling) Intermediate/Advanced
- ArcGIS Intermediate/Advanced
- Event Response Intermediate/Advanced
- Programming skills (Preferred) – R/Python/Matlab Intermediate/Advanced
- Model Sensitivity Analysis Intermediate/Advanced
- Financial Module / Backend loss calculations Intermediate/Advanced
- Model Change Management Intermediate/Advanced
- Database schema (manipulate tables and automate tasks through backend) Intermediate/Advanced
- Inter model exposure conversion Intermediate/Advanced
- New tool development Basic/Intermediate
- Analytical Advanced
- Communication (verbal and written) Advanced
- Time Management Advanced
- Stakeholder Management Advanced
- Dealing with Ambiguity Advanced
- Complex problem solving Advanced
- Multi-tasking Advanced
- Presentation Advanced
- Mentoring Basic/Intermediate
- Decision making Intermediate/Advanced
- Investigation Intermediate/Advanced
- Project Management Intermediate/Advanced
Education Major Graduate/Post-Graduate in any Quantitative Discipline, preferably, but not limited to, Mathematics/Statistics/Economics, Engineering, etc. Degree Bachelor Post-graduate