FBS Risk Modeling Specialist (Insurance sector)

Our Client is one of the United States’ largest insurers, providing a wide range of insurance and financial services products with gross written premium well over US$25 Billion (P&C). They proudly serve more than 10 million U.S. households with more than 19 million individual policies across all 50 states through the efforts of over 48,000 exclusive and independent agents and nearly 18,500 employees. Finally, our Client is part of one the largest Insurance Groups in the world.

Job Summary

This position is responsible for model validation and assessment of model suitability, including a range of activities designed to gain comfort that Model Owners adhere to the model risk management framework requirements.

This role will advise Model Owners in peer review standards as well as execute tests and techniques (example stress-testing, back-testing) for higher risk models.

The purpose of the role is to provide assurance for models across the enterprise for both financial and non-financial models (example pricing, reserving, economic valuation, economic capital, generative artificial intelligence).

Essential Job Functions

Executes validation tests in accordance with the model risk management framework requirements such as critical review of data inputs and data quality, data controls, data parameters, etc.

For models using AI techniques, inspects data bias such as potential bias introduced in data collection and / or data classification.

Conducts validation tests for assumptions and expert judgements and / or model simplifications and limitations.

Interacts with stakeholders to present work product in a clear, concise fashion without need for guidance.

Challenges and advises stakeholders as appropriate. Establishes relationships with stakeholders and colleagues.

Manages and prioritizes multiple projects through efficient time management.

Inspires, leads, and trains the modeling teams. Coordinates necessary training to ensure the team is current on the developments in the catastrophe modeling field.

Performs other tasks as assigned.

Experience Requirements

Minimum 3 years of experience in analytical and statistical modelling, testing, and validation in the insurance or financial industry, including forecasting models as well as other business areas such as pricing, scoring etc.

Actuarial property/casualty insurance industry experience preferred.

Education Requirements

High School Diploma or equivalent required. Bachelors degree preferred in an analytical field (mathematics, engineering, actuarial science, economics, atmospheric or natural science).

This position comes with competitive compensation and benefits package:

• Competitive salary and performance-based bonuses
• Comprehensive benefits package
• Career development and training opportunities
• Flexible work arrangements (remote and/or office-based)
• Dynamic and inclusive work culture within a globally renowned group
• Private Health Insurance
• Pension Plan
• Paid Time Off
• Training & Development