Senior Catastrophe Modelling Analyst I

Singapore | permanent

Division: Group Underwriting

Department: Underwriting Modelling

1.         Purpose

Support catastrophe modelling services delivery within the catastrophe modelling team in Singapore, for different classes across MS Amlin and for assisting the outsourced support work for MS&AD group, to provide an excellent, high quality and valued modelling service to assist underwriting decisions and effectively manage risk.

2.         Dimensions

The role will stretch across various classes of insurance and reinsurance business as needs arise.

Catastrophe risk is the largest risk within the Group, representing 2/3rd of pre-diversified capital requirement.

The Underwriting Modelling team includes over 60 staff across offices in Bermuda, Miami, Zurich, Singapore, Kuala Lumpur and London, and provides support to all divisions and underwriting business units (SBUs) through its catastrophe modelling services. This newly formed team (of 8 people including this role) in Kuala Lumpur will add more support to this global unit of catastrophe modelling.

Underwriting Modelling has circa £14m budget (including responsibility for £7.0m of software licenses).

This role will support the Modelling Manager in Singapore, and help the Catastrophe Modelling team in the successful delivery of catastrophe modelling output and analytics across the Property and Casualty, Marine and Aviation, and Reinsurance SBUs, as well as supporting outsourced modelling work MS Amlin provide to the MS&AD Group The work includes management of exposure data processing and aggregate accumulation management in non-modelled classes.

The candidate should have built up significant catastrophe modelling experience, ideally in both Direct & Facultative and Binders Property business, in Marine classes, and in core components of modelling inwards reinsurance business. The role is expected to provide direct management and significant mentoring to junior team members in the team.  The candidate must have a strong and experienced understanding in all technical aspects of modelling and exposure data management (at least 5 years), and should be able to converse with internal clients and peers in a proficient manner.

3.         Key Result Areas.

  • Operational - In-depth understanding of all modelled classes and/or different modelling software. Works independently with guidance in only the most complex situations and regularly resolves a wide range of complicated problems. Serves as best practice/quality resource within the team. Interprets business issues and recommends solutions.
  • Compliance and Monitoring - Adhere to agreed service levels. Always conduct themselves in accordance with the Company’s Business Ethics Policy. Participate in the monitoring of compliance having responsibility for audit processes and peer review.  Ensure that management standards are maintained and bring to the attention of line management any areas of potential deficiency.

Provide support to Modelling Manager, Singapore on following:

  • Management Information - Communicating modelling results with the underwriting business units, the modelling team, and other functions, and assisting them in fully utilizing these results in their pricing and exposure management, and supporting the Underwriting Modelling function to produce management reports and information including Lloyds RDS, Internal DFA model portfolios, and the company’s Exposure Monitoring Framework, which enables the business to monitor actual exposures against aggregate limits agreed with the Divisional Underwriter / Underwriting Manager.
  • Personnel - Ensure own development and knowledge remains up to date. Has the responsibility for training and development of more junior staff.
  • Customer Relations - Strong, effective relationships with fellow team member both in Kuala Lumpur and Singapore and with underwriters across the region. 

4.         The Operating Environment and Context of the Job

The importance of catastrophe modelling has grown within MS Amlin especially with an increase in exposure to catastrophe risks from many classes of business. Internal and external standards, requirements and directives (such PRA, Lloyd’s of London, Solvency II) place a greater emphasis on the appropriate and fit for purpose deployment of catastrophe models within MS Amlin for decision making, analytics and reporting.

5.         Conduct Rules

The role holder will be expected to perform to the highest of standards and conduct which include:

  • You must act with integrity
  • You must act with due care, skill and diligence
  • You must be open and co-operative with all regulators
  • You must pay due regard to the interests of customers and treat them fairly
  • You must observe proper standards of market conduct

6.         Cultural Behaviours:

The behaviours/competencies that the job holder must exhibit for desired cultural fit.

Client Centric | Places all our internal and external clients at the centre of decision making; develops propositions that are fair, relevant and useful

Innovative | Thinks about future possibilities and outcomes that can shape success in original ways

Empowering | Provides opportunities and support for colleagues to grow and succeed

Collaborative | Able to work as ‘one team’ to gain commitment and results to ensure success for all

Accountable | Acts with integrity to deliver on commitments, ensuring the same for others

Disciplined | Ambitious and disciplined in setting and achieving goals

7.         Job Specific Competencies:

Generic

  • Teamwork and relationship building skills
  • Project management skills with an ability to manage multiple projects effectively and lead a team
  • Excellent analytical critical thinking and problem solving skills with the ability to effectively resolve complex situations and issues.
  • Strong verbal and written communication skills

Job Specific

  • Minimum five years of experience using catastrophe models (AIR and/or RMS) for pricing and portfolio work
  • Experience of modelling both U.S. and non-U.S. exposures is preferred
  • Advanced user of Excel, Access and SQL. Programming experience is a plus (e.g. Python, R, VBA).

8.         Key Interfaces:

The role involves working closely alongside other members of the Underwriting Modelling team, in Singapore and all other locations, as well as interaction with underwriters across MS Amlin.


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