Accumulations Lead, Casualty
- London
- Permanent
- Full-time
- Define scope of use and processes to support SCOR's strategy and improve the performance of the casualty lines of business via both risk selection and accumulation control.
- Support underwriters during client visits as it relates to Casualty exposure data and Accumulation.
- Develop processes ranging from supporting the Global and Legal Entity accumulations of risks to monitoring against limits / capacities
- Contribute to the event response process as it relates to Casualty lines.
- Enhance, harmonize and maintain the tools and systems to support the risk accumulation process
- Expertise in Property and Casualty risk modelling and aggregation, in particular US Casualty is essential. The job also requires significant internal interaction with stakeholders across many functional areas including underwriting/ management, actuarial pricing (and reserving), legal and claims.
- Lead the groupwide accumulation processes from all major risk sources for all casualty related exposures.
- In collaboration with the Casualty CUO and other Casualty UW experts;
- Define new risk scenarios to continuously assess emerging risks and challenge the accumulation approach, including leveraging from data sources which reflect social, technical and legal factors to develop more comprehensive and forward-looking views of the casualty landscape and improve underwriting risk selection and risk mitigation.
- Steer the portfolio through analyses of the evolution of accumulation and portfolio optimization analyses & develop a strong relationship with business partners across both Divisions to implement a well-defined process for monitoring and management of capacities.
- Training of Casualty underwriters on the new Casualty Capacity framework such that during the renewal the understanding of the consumed capacity is clearly understood and adherence to the capacity limits can be effectively controlled as well as supporting underwriters during client visits when exposure data and Accumulation are topical.
- Monitor P&C's risk profile and define alert trigger point and referral process for risk accumulation.
- Leverage from the accumulation output to challenge / re-calibrate the P&C Capital Modelling Tool.
- Manage all regulatory and rating agency reporting requirements for the Group and legal entity, including ORSA and governance documentation whilst coordinating with the Group's global risk reporting community.
- Contribute to the groupwide casualty related major event response with catastrophe loss estimation, in close coordination with claims, underwriting, actuarial.
- Actively contribute to various ERM initiatives including ad-hoc reporting requests, risk assessments on emerging risks, internal and external audits, risk training etc.
- Processes:
- Establish a strong relationship with the owners of the data feed by establishing a well-defined process.
- Develop new methods & processes to enhance SCOR's casualty catastrophe modelling capabilities and quantification of casualty risks.
- Harmonize the approach for the risk identification and aggregation, the assessment, the monitoring and the reporting of the accumulations at various levels (risk, portfolio, cedent, region, country, entity, division…)
- Define and implement guidelines on data (structure and type) needed for the analysis of the accumulations (including refinement of the optimal frequency of updates)
- Tools:
- Enhance, harmonize and maintain the tools and systems to support the risk accumulation process
- Develop a strong relationship with SCOR's casualty vendor models to including coordination with central functions on licensing and contract renewal negotiations.
- Excellent Analytical and Synthesis skills: Drills down to explore root causes of observable facts; is able to reduce complicated factual contents to the essentials.
- Sound knowledge of insurance/reinsurance business and principles.
- Hands-on leadership with excellent communication skills: Has very good listening skills and communicates clearly and concisely verbally and in writing at all levels
- Collaborative spirit: key to both the risk aggregation process
- Good understanding of Actuarial/Risk Assessment/Financial Techniques in particular related to the aggregation of risks.
- Experience in using standard business software a must.
- Competence in a language/tool supporting numerical programming very useful (e.g. R, Python), noting that the role will have expert support in this area from other team members.
- None, but as an expert you will provide mentoring and coaching to team analysts/ interns
- Degree in a field of study where strong quantitative skills, or equivalence