At a Glance
- Tasks: Support the Exposure Management Team with innovative reinsurance solutions and complex analytics.
- Company: Join Chaucer, a leading insurance group at Lloyd’s, with a global presence.
- Benefits: Flexible working arrangements, competitive salary, and opportunities for professional growth.
- Other info: Dynamic role with opportunities to drive change and improve processes.
- Why this job: Make an impact in catastrophe risk management while collaborating with industry experts.
- Qualifications: Strong statistical background and experience in insurance or reinsurance required.
The predicted salary is between 56700 - 69300 £ per year.
This is a senior technical position within the Exposure Management Team, working directly with the Head of Catastrophe Research, Head of Exposure Management, CUO, CRO and Head of RI Purchasing.
This role mainly provides support for the more ad hoc technical work that comes up in the Exposure Management team outside of standard modelling or Portfolio Analytics BAU.
The main focus of the role relates to non-traditional reinsurance structures (ILS).
The role requires close collaboration with the Outwards RI Purchasing team providing Exposure Management analysis for more unusual products that may be purchased to protect the Chaucer portfolio as part of the intelligent capital strategy.
The holder of the role would be expected to explain complex technical work to technical and non-technical internal and external stakeholders.
The role holder is also expected to provide technical support for modelling produced for standard Outwards RI purchases.
The role requires a strong statistical background with a good knowledge of SQL, Power BI, VBA, R/Python, whilst having good commercial understanding.
Detailed knowledge about different reinsurance structures is essential, especially non-traditional structures (ILS) as well as detailed understanding of simulation financial models, given this is the main focus of the role.
There will be some opportunity to get involved in different projects and to help the team improve and refine overall processes through automation whilst ensuring suitable controls and quality control.
There will also be some opportunity to work with the other senior managers within Exposure Management to develop alternative tools or analytics to support the business supporting the Portfolio Manager as required.
Main duties
- Support the Head of RI Purchasing in the design of non-standard reinsurance treaties (ILS), leading the internal technical review of these treaties.
Working closely with the Analytics Lead and other senior members of the Exposure Management team as required.
Building strong relationships with Broker Analytics teams.
- Lead and complete the Exposure Management activities related to non-standard RI (ILS) already in place, including reporting and stakeholder engagement, ensuring an efficient and effective process.
- Ensuring minimal disruption to BAU for other members of the Exposure Management team.
- Engaging with external stakeholders as required.
- Help the Head of Exposure Management and Head of Catastrophe Research drive change through value-added and influential analytics.
- Support in the development and training of the in-house pricing and aggregation system to support Exposure Management tasks and analytics and the integration with modelling tools and Chaucer’s data strategy.
- Lead the portfolio optimisation work for Catastrophe driving classes with the Chaucer portfolio utilising a variety of statistical techniques and methods.
- Additional Responsibilities
- Provide input and ideas for improvements in current Exposure Management activities and processes, including the appropriate implementation of controls and automation.
- On occasion, support the R&D team in the validation of both internal and externally licensed catastrophe models and provide input on data analytics options to assess different models or tools.
- Produce ad hoc Catastrophe modelling related technical support when required within Exposure Management or for the wider business.
- Participate in the wider activities of the Exposure Management Team.
- On occasion, support the business in non-standard projects as necessary including assessment of new business opportunities.
- Keep up-to-date with new science and technological developments in the Catastrophe Management field and ensure that all of the team are improving their scientific and technical understanding.
- As an attendee of CUG, provide technical and commercial input to decision making around the use of internal and proprietary models.
Skills, Knowledge and Experience
Experience
Essential
- Previous Exposure Management and Catastrophe Risk experience.
- Previous experience explaining technical information to a variety of audiences.
- Previous Insurance and Reinsurance experience with a commercial mind set.
Desirable
- Experience of developing modelling tools.
- Experience of developing new and alternative analytics.
- Experience in establishing alternative methods to assess impact of new business opportunities.
- Technical Skills
Essential
- Excellent numeracy skills with a good understanding of probability and statistical methodologies including the ability to pass on this knowledge to others.
- An understanding of insurance and reinsurance financial terms and structures, both traditional and non-traditional.
- Microsoft Excel and MS SQL.
- Programming languages, including R and Python.
Desirable
- A comprehensive understanding of catastrophe modelling software – RMS or AIR.
- Knowledge of GIS and/or other mapping software.
- Knowledge of key modelling processes within a global (re)insurer.
Qualifications
- Desirable
- Relevant professional qualifications such as ACII, CRM or CCRA or FIA
ABOUT US
Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market.
We help protect industries around the world from the risks they face.
Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.
Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world.
To learn more about us please visit our website.
Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation).
We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.
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Exposure Management Technical Specialist (ILS) employer: SwiftCruit
At Global, we pride ourselves on being an exceptional employer, offering a dynamic work environment in the heart of London that fosters innovation and collaboration. As a Senior Machine Learning Engineer, you'll not only have the opportunity to influence millions through cutting-edge AI solutions but also benefit from a culture that encourages professional growth, cross-functional partnerships, and the development of reusable engineering standards. With a commitment to employee development and a focus on impactful projects, Global is the ideal place for those seeking meaningful and rewarding careers in data science and machine learning.
StudySmarter Expert Advice🤫
We think this is how you could land Exposure Management Technical Specialist (ILS)
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We think you need these skills to ace Exposure Management Technical Specialist (ILS)
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.
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✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at SwiftCruit to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
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