DIRECTOR - CAPITAL MODELING
Company: Grinnell Mutual Reinsurance
Location: Des Moines
Posted on: May 9, 2024
|
|
Job Description:
Overview:
Grinnell Mutual is looking for a technical expert to identify the
key inputs needed to build a successful modeling capability in a
complex insurance and reinsurance environment. This role will apply
the technical expertise to construct and refine various capital
models in support of pricing, reserving, and forecasting. A key
responsibility will be to monitor key performance indicators within
the property and casualty insurance industry, and provide ongoing
analysis to optimize solutions ensuring profitable growth and
surplus exposure.
The Director of Capital Modeling will work collaboratively with
senior leadership team members to build capital modeling
capabilities for the entire enterprise. This position will
establish a basic model and then enhance the model over time and
experience to create a robust modeling function.
This is your opportunity to be part of Grinnell Mutual's amazing
(and highly decorated!) culture - which continues to thrive and
functions in a largely virtual world.
Speaking of which, this position qualifies for our flexible
workplace options. Work at our Grinnell, Iowa, headquarters, or
work from home in any of the following states:
Alabama, Arizona, Florida, Georgia, Illinois, Indiana, Iowa,
Kansas, Maine, Minnesota, Missouri, Montana, Nebraska, New Mexico,
North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South
Dakota, Tennessee, Texas, Virginia, Wisconsin, and Wyoming. Please
note that candidates must be eligible to work in the U.S. without
Grinnell Mutual sponsorship.
Responsibilities:
Manages development efforts for capital risk modeling and presents
to stakeholders, including senior leadership, board members and
external partners, on an as needed basis.
Serves as subject matter expert in the areas of risk quantification
and modeling while working closely with internal and external
stakeholders.
Ensures compliance with risk modeling procedures and policies.
Develops and presents technical models and documentation as needed
to ensure proper understanding of data and analysis.
Analyzes variances in insurance models, pricing, performance, and
working capital models, making suggestions for improvement. Surplus
at risk analysis and other actuarial type models.
Implements, maintains, and refines a functional capital model to
manage CAT risk. Seeks corporate support for proposed CAT
allocations and develop a plan to measure corporate and division
risk tolerance using this model.
Leverages capital modeling software, other tools, and external
partnerships to develop a model to measure property exposure for
catastrophe perils and relative return periods by building out
Occurrence Exceedance Probability (OEP) curves for each of the
business units.
Proposes the appropriate portion of surplus to be allocated to
business units based on capital risk models.
Measures and reports the portfolio against risk tolerance
statements. If portfolio risk is outside of risk tolerance
parameters, makes recommendations for compliance.
Designs modeling methods and measurements in a way that can be
leveraged corporately.
Performs all other duties as assigned.
Qualifications:
Bachelor's degree from an accredited college or university
required, preferably in actuarial science, mathematics, economics,
or related fields.
10 + years of property-casualty insurance experience, with focus on
valuation, modeling or capital management preferred.
Fellowship in the Casualty Actuarial Society (FCAS) with 10+ years
of experience, or Associateship in the Casualty Actuarial Society
(ACAS) with 12+ years of experience.
Experience with financial analysis of income statement, balance
sheet and capital projections.
Experience with actuarial projection or valuation software,
database applications, business intelligence tools.
Demonstrated experience with statistical modeling, regression
analysis, copula probability, Monte Carlo Simulations, and other
forms of analysis.
Exhibited strong analytical skills and critical thinking skills
with the ability to assimilate information, understand new and
complex topics, and integrate data for analysis.
Demonstrated ability to plan proactively over a multi-year period
with knowledge of strategic actuarial practices.
Possesses advanced knowledge of business, industry, and market
information with ability to apply knowledge to actuarial division
and job responsibilities.
Aptitude to make effective decisions and/or involve others in the
decision-making process as needed to obtain information, generate
alternatives, and make the best decision.
Ability to use personal judgment, experience, facts and figures to
make decisions and resolve problems.
Capacity to think creatively to recommend innovative ideas and
solutions to grow the business while supporting the organization's
mission and goals.
Ability to manage multiple priorities and projects as required.
Ability to use general office equipment; knowledge of Microsoft
Office suite products including MS Word and Outlook.
Requires regular and predictable attendance to meet the customer
needs of the position.
Occasional overnight travel for training or conferences.
Must be able to maintain confidentiality and proprietary
information.
Demonstrated ability to adhere to all Grinnell Mutual policies.
Demonstrated ability to incorporate Grinnell Mutual core values in
all areas work.
Working conditions and physical efforts
To perform this job successfully, an individual must be able to
perform each job duty and responsibility satisfactorily. Reasonable
accommodations may be made to enable individuals with disabilities
to perform job duties and responsibilities.
This position is physically located in a remote office or at one of
Grinnell Mutual's campuses with a work environment of a typical
office setting; work environment of a typical office setting; noise
level is relatively quiet. Requires an individual to sit or stand
for long periods of time and to drive a vehicle on an occasional
basis, including during inclement weather.
Interacts with many types of people, may encounter resistance,
which can be stimulating, yet demanding and stressful. Works under
externally imposed deadlines with unexpected and frequent
interruptions to the workflow making it challenging to anticipate
the nature and volume of work to perform and meet established
deadlines.
Requires the individual to frequently interact via telephone, video
conference, and in-person.
Ability to exert up to 20 pounds of force and to lift to 10
pounds.
This job description is not intended to describe, in detail, the
multitude of tasks that may be assigned, but rather to give the
employee a general sense of the responsibilities and expectations
of the position. As the nature of the business demands change, so
too may the job duties and responsibilities.
Keywords: Grinnell Mutual Reinsurance, Ankeny , DIRECTOR - CAPITAL MODELING, Executive , Des Moines, Iowa
Click
here to apply!
|