NatCat Modeller

Short Summary

As a leading global reinsurer, the company offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” the company uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.

The P&C Pricing & Modelling (P&M) team provides comprehensive risk pricing and modelling analyses to SCOR’s underwriting teams located worldwide, ensuring adequate solutions for clients. The P&M teams are also highly involved in the development and improvement of methods, tools and processes for Pricing and Modelling, as well as the integration of data science and AI.

[SBP intro to be produced by HR]

Job Summary

The role covers all aspects of

• Assisting standard operational modelling tasks
• Assisting in the development of modelling methods and tools
• Assisting in P&M projects and studies

Key duties and responsibilities

Support the Cat Modelling with ensuring smooth operations, by ensure pricing and accumulation are timely, accurate and compliant with guidelines and with the catastrophe risk management of company’s portfolio.

Executing Standard Operational Cat Modelling Tasks, under the supervision and guidance of senior staff (which can be located either in nearshore or onshore offices), the individual in this role will:

• Support senior members of the Team in the provision and delivery of analytics relating to modelled and non-modelled CAT
• Entering/uploading/modelling of exposure information in catastrophe modelling software (RMS RiskLink)
• Perform Portfolio roll-up using third-party catastrophe models with high accuracy and in a timely manner.
• Assist with processing of pre/post bind analyses and maintenance of a reliable and accurate exposure dataset
• Perform the relevant checks and resolve queries to ensure the accuracy and quality of the portfolio.
• Working closely with the outsourcing provider in formatting exposure schedules and performing data quality reviews
• Should be able to identify the movements between the portfolios and able to justify them with sensible commentaries.
• Conduct a thorough analysis of exposure data across multiple lines of business, regions, and products..
• Liaise with internal and external data teams to ensure all modelled policies are captured, that the data is up to date, and data interpretations are accurate.
• Evaluate and quantify potential risks associated with speciality accumulations, such as natural catastrophes, terrorism, or other relevant perils at both risk and portfolio levels.
• Collaborate with underwriting teams to assess and manage accumulations of risk within defined tolerances.
• Internal training for junior staff and new joiners of other departments
• Support other Stakeholders in designing and improving analytics and MI related to CAT at segment and portfolio level to support management in decision making
• Other ad-hoc projects, reports and responsibilities as agreed

P&M activities, processes and methods improvement:

• Participate in the evaluation and enhancement of the P&M processes, workflows, methods, tools (xAct, vendor models, new tools, ...), identifying opportunities for automation, standardisation and streamlining to gain efficiency.

Help expand company’s Analytical Capabilities:

• Tools: develop the code, support testing and maintenance, partner with IT.
• Analyse data to extract insights in support of decision-making within pricing / modelling teams, underwriting functions and management.

Project / Research & Dev:

• Support onshore teams with various Nat Cat projects as needed including collaborating on projects to address specific queries regarding hazard, vulnerability and model behaviour.
• Learn to understand and analyze vendor models.
• Participate in research to better understand natural perils

Required experience & competencies

• Some work experience in the financial services industry, preferably in reinsurance/insurance with a focus on analytical and/or actuarial work, for instance the development and structuring of reinsurance products, financial instruments, and pricing tools
• Knowledge in P&C lines of business and reinsurance/insurance underwriting is an advantage
• Knowledge of Microsoft Office (Proficiency in Excel). SQL, GIS and Programming skills ideally in R or Python is a plus
• Strong analytical skills. Pro-active, hands-on mentality and can-do attitude. Self-starter and solution oriented. Flexible, can adapt according to priorities. Expertise in digital technology and Data Engineering
• Clear communicator, able to structure an argument and ability to explain complex issues in a simple way. Team player, interested in sharing knowledge and helping to develop the team.
• Strong mathematical, modelling, technical background, good knowledge in digital technology
• Skills in data science, predictive modelling & analytics, machine learning, AI, Programming skills

Required Education

• Excellent academic qualifications including a minimum of a bachelor’s degree in mathematics, actuarial science, other scientific discipline (statistics, physics, natural science), economics or finance. An advanced degree (master’s or PhD) would be a plus.
• English: B2 level (CECRL)