At a Glance
- Tasks: Develop and enhance insurance risk models using advanced statistical techniques.
- Company: Join AIG, a global leader in insurance solutions with a collaborative culture.
- Benefits: Comprehensive benefits package focusing on health, wellbeing, and professional development.
- Other info: Inclusive culture that values diversity and supports continuous learning.
- Why this job: Make a real impact in risk modelling while working with cutting-edge technology.
- Qualifications: Experience in insurance, actuarial science, or quantitative risk management is essential.
The predicted salary is between 59400 - 72600 £ per year.
- Join us as Insurance Risk Modelling Senior Risk Analyst
- Make your mark in Risk Modelling
Reporting to the Head of Insurance Risk Modelling, you will support the development, calibration, testing, and enhancement of AIG's Insurance Risk capital models and associated business uses.
The primary focus of the role is the quantification of non-catastrophic Insurance Risk, including Reserve Risk and Premium Risk, within AIG's Economic Capital Models.
A significant component of the role involves the development and application of stochastic actuarial techniques to estimate the full probability distribution of unpaid claim liabilities.
This involves end to end processes from methodology, coding, data gathering, model execution, assumption setting, measurement, testing, and communication of results to business stakeholders.
The role has a broad range of exposure, supporting both Solvency II models for UK and European entities, Canada, Bermuda, Japan and Group Economic Capital Models.
The models are used both for regulatory capital requirements and for internal uses such as capital allocation and inputs to technical pricing.
How you will create an impact
The role works closely with actuarial, risk management, underwriting, and finance teams across AIG's global operations.
It is ideally suited to a candidate with strong interests in capital modelling, Insurance Risk, statistical methods, and coding.
Responsibilities
- Develop stochastic actuarial models and applications for non-catastrophic Reserve and Premium Risks including AIG’s existing in-house models and advancement of related actuarial techniques.
- Calibration of Insurance Risk parameters within AIG's Internal Capital Model. Includes both line of business volatilities and cross-line correlations.
Analyse historical claims and underwriting data to develop model assumptions and parameters.
- Translate business requirements into analytical solutions and model specifications.
- Perform testing, sensitivity analysis, benchmarking, and validation of model results.
- Support business partners in understanding Insurance Risk, capital requirements, and model outputs.
- Communicate analytical approaches and results to both technical and non-technical audiences.
- Maintain model documentation and support governance, validation, and review activities.
- Respond to ad hoc requests relating to Insurance Risk and capital analysis.
- Experience working with programming languages such as Igloo, Python, R, VBA, MATLAB, or similar quantitative tools.
- Strong analytical, problem-solving, and critical-thinking skills.
- Ability to evaluate model assumptions, data quality, and reasonableness of results.
- What you’ll need to succeed
- Experience in insurance, actuarial, capital modelling, or quantitative risk management.
- Experience applying stochastic modelling techniques within Property & Casualty insurance or related areas.
- Understanding of reserving, pricing, Insurance Risk, economic capital modelling, and risk aggregation principles.
- Proven proficiency in mathematical, statistical, actuarial, and quantitative methodologies.
- Knowledge of Solvency II and related insurance capital regulatory frameworks is advantageous.
- Progress toward an actuarial qualification is desirable but not required.
- Degree in Actuarial Science, Statistics, Quantitative Finance, Data Science, or Mathematics.
- #LI-AIG
At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office.
This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.
Enjoy benefits that take care of what matters
At AIG, our people are our greatest asset.
We know how important it is to protect and invest in what’s most important to you.
That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.
Reimagining insurance to make a bigger difference to the world
American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks.
It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers.
At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential.
We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.
Welcome to a culture of inclusion
We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals.
We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs).
With global chapters, ERGs are a cornerstone for our culture of inclusion.
The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.
AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities.
If you believe you need a reasonable accommodation, please send an email to candidatecare@aig. com .
Functional Area
RK - Risk AIG Europe (Services) Limited
Insurance Risk Modeling Senior Risk Analyst in London employer: AIG Insurance
AIG Insurance is an exceptional employer, offering a dynamic work environment where collaboration thrives, particularly in the heart of Lloyd's. With a strong emphasis on professional development, employees benefit from extensive growth opportunities and a supportive culture that values teamwork and compliance excellence. Working at AIG not only provides a chance to be part of a leading insurance firm but also ensures meaningful contributions to the financial integrity of managed syndicates.
StudySmarter Expert Advice🤫
We think this is how you could land Insurance Risk Modeling Senior Risk Analyst in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like AIG Insurance). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like AIG Insurance. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Insurance Risk Modeling Senior Risk Analyst in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at AIG Insurance.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at AIG Insurance. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at AIG Insurance
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at AIG Insurance to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at AIG Insurance, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding AIG Insurance's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
