Catastrophe Risk Analyst Senior

Company



Munich Re America



Location



Philadelphia
, United States

Senior Catastrophe Risk Analyst

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re Specialty North America provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty North America is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on Munich Re Specialty North America, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.

Future focused and always one step ahead

The Opportunity

This Senior Catastrophe Risk Analyst role is responsible for developing methods to Extract, Transform and Load catastrophe data, assist underwriters and clients in evaluating and understanding their exposures to catastrophes, and acting as the modeling lead on selected accounts. We are seeking collaborative leaders with experience managing both data and catastrophe modeling projects, with appetite to develop efficiencies and improvements to the modeling process and environment. Candidates should be self-starters, with strong data skills who are looking to be creative and ready to take on any task put in front of them.

Responsibilities:

• Use RMS catastrophe models to develop pricing analyses, including loss costs, uncertainty parameters, PML curves, and cost of capital/budget data, to help underwriters price business. Ensure data integrity and accuracy for reliable model outputs.

• Utilize advanced statistical and analytical techniques to assess risks associated with catastrophic events

• Improve all aspects of the cat modeling process including data transformation, data storage, data visualization, automated workflows and customized report output by understanding and leveraging dependencies of MRS-NA systems.

• Participate in and/or lead projects to support risk accumulation initiatives related the needs of the clients, MRS-NA and the Munich Re Group as directed by Cat Team management.

• Ability to work independently on various ad-hoc projects, including IT projects to develop creative, forward-thinking solutions to support the growth in MRS-NA catastrophe modeling.

• Participation in underwriting audits for property catastrophe exposed clients

• Engage in forensic analyses of claims to uncover insights and patterns, further improving risk segmentation and predictive modeling capabilities

• Understand and clearly communicate Munich Re's best practices regarding all catastrophe perils. Understand and apply MRS-NA property underwriting and pricing guidelines.

• Prepare and give presentations and training sessions on various Catastrophe Management topics to internal and external clients.

• Participate in event response including updating exposure and loss estimates for relevant natural catastrophe events.

• Commitment to continual growth in cat modeling analytics, industry knowledge, and peril expertise.

Job Requirements:

• 7+ years of insurance industry experience

• 5+ years of experience with catastrophe models (RMS model experience preferred, especially HD models)

• Bachelor's degree in a quantitative field such as Mathematics, Statistics, Science, Engineering, Finance or equivalent education/experience; some graduate level or professional level insurance coursework desirable.

• Expert knowledge of primary insurance and reinsurance coverages, including complex policy structures and financial metrics.

• Highly developed analytical, problem solving, presentation and communication skills.

• Critical thinking skills and precise attention to detail, along with ability to prioritize work across multiple accounts

• Knowledge of probabilities, statistics, simulation, & stochastic modeling techniques

• Fluency in coding languages required, specifically in SQL, with knowledge of other programming languages such as R and Python.

• Advanced Microsoft Office and overall database-related skills

• Expertise with GIS applications, specifically ARGIS.

• Industry certifications (CPCU, CSCRA, ARe) are preferred

• Meteorology / Science background is a plus

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.