DIRECTOR - CAPITAL MODELING
Company: Grinnell Mutual Reinsurance
Location: Des Moines
Posted on: May 9, 2024
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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 effortsTo 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.by Jobble
Keywords: Grinnell Mutual Reinsurance, Ankeny , DIRECTOR - CAPITAL MODELING, Executive , Des Moines, Iowa
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