Willis Towers Watson - Senior Catastrophe Modeler/Catastrophe Risk Analyst

ROLE : Senior Catastrophe Modeler/Catastrophe Risk Analyst

DEPARTMENT : Reinsurance

OTHER INFORMATION :

- Modeling natural catastrophe exposure is an exciting and rapidly expanding area of our business. The Analytics Catastrophe Management team assists Clients and business units worldwide in understanding risk from natural perils such as windstorm, earthquake and flood etc.

- The team is expanding to meet ever growing client demands. Catastrophe risk analysts will be involved in processing and auditing data, running insured property portfolios against state-of-the-art third party and proprietary catastrophe models and synthesizing the results.

- Catastrophe Risk Analysts may come from any background, but they should be able to adopt a methodical approach to problem-solving and be extremely comfortable with numbers and IT.

ROLE SUMMARY :

- The role requires deep analytical and organizational skills, the capability to see the wider picture while maintaining an eye for detail, and the ability to maintain a rigorous process and high quality output under time pressure.

- The ideal candidate should display active and quick self-learning qualities along with the ability to work in different teams and contribute to the knowledge sharing and other activities for team and individual development.

- Successful candidates will be degree educated, ideally have experience of working within the insurance industry and will be confident with computers and figures

DUTIES AND RESPONSIBILITIES :

Although the main goal of a senior catastrophe modeler is to produce and validate probabilistic estimates of losses to insurance companies due to various perils including earthquake, windstorm, etc., the other duties and responsibilities of this position include :

- Preparing data for auditing - data cleansing, data checks and importing data from Excel, text, etc. into SQL Query Analyzer along with troubleshooting errors encountered.

- Data auditing - creating and automating summary reports of client provided exposure data including effective data editing in advanced SQL.

- Implementing changes to the data following the Client's response to the audit report.

- Preparing model input files & importing data into models using assumptions from the audit report along with effective troubleshooting of systems of tools involved.

- Setting up and running multiple, latest catastrophe models (atleast 2 out of RiskLink /CLASIC2 & Touchstone/WorldCAT & RQE) as well as in-house models.

- Modeling for various perils including Earthquake, Windstorm, Flood, Terrorism on Property as well as Worker's Compensation exposures (Detailed and Aggregate models)

- Preparation and validation of catastrophe modeling reports (loss reports, reinsurer reports, etc.) including result interpretation

- Undertaking model sensitivity analysis of catastrophe modeling software.

- Preparation of maps, graphs using various tools like ArcGIS, Spatial Key, etc. and various other reports using proprietary tools (iFM, ReCast, etc.).

- Explaining factors driving losses for a given portfolio/account.

- Undertaking complex accumulation management for various reports, including Supplementary Rating Questionnaire (SRQ) along with study on Solvency II.

- Mentoring and training newer analysts in the team.

- Self-learning basic components of probabilistic financial module of at least one model and using it for understanding model behaviors.

- Have basic understanding of statistics involved in the model and using it to explain formation of loss curves and other loss statistics.

- Have good understanding of catastrophe modeling framework and use it effectively while creating deliverables and during discussions with different stakeholders.

- Should be well versed with core cat modeling perspectives and loss statistics and use it during discussions with stakeholders.

- Lead low to medium complexity projects independently and communicate effectively with stakeholders.

- Conduct a basic review work done by more junior analysts.

- Code all the reinsurance treaties in models and enter even complex reinsurance terms.