Insurance Risk Lead, Capital Modeling

American International Group, Inc.; London; On-site; GBP 50,000 - 90,000

Job description

Join us as an Insurance Risk Lead in our Capital Modelling team to take your career to the next level with a global market leader.

Make your mark in Capital Modelling

Economic capital is of growing importance at AIG as it supports capital and risk management, budgeting, strategy and pricing. It provides guidance on the trade-off between risk and return and informs risk-aware business decisions that support corporate objectives.

How you will create an impact

This is an excellent opportunity to join a forward-thinking business with the responsibility for enhancement of methods and update of calibrations for Insurance Risk, consolidating approaches for AIG's Group and Local Economic Capital Models. We seek to embed a greater understanding of the quantification of volatility and risk with the business, and this role will be key in facilitating that outcome with business partners.

This role has a high level of communication and collaboration with internal stakeholders, including Actuarial, Underwriting, ERM, and Finance.

Some of the key responsibilities include:

• Quantify insurance risk inputs, including reviewing inputs provided by other teams for appropriateness.
  • Lead the update of non-cat Insurance Risk calibration by working with the central, regional and line of business actuarial teams across North America and International.
  • Update AIG's statistical Man-Made Cat models used as part of the group Economic Capital model and seek convergence with methods used for local legal entities.
• Be responsible for the maintenance of AIG's models and methods for measurement of non-cat Insurance Risk.
• Develop new methodologies and metrics to address emerging risk issues and business profile changes.
• Communicate results to stakeholders and empower and train stakeholders in using risk-based metrics in business decisions.
• Empower first line actuaries to use resulting risk quantifications as part of technical pricing or in their discussion with business leaders.
• Create line of business presentations which demonstrate a quantification of risk based on the characteristics and risk profile of that line.
• Prepare and present Insurance Risk reports and updates to working groups and Risk Committees.
• Design the testing framework, including back-testing, benchmarking and sensitivity testing. Documentation of the model and lead role in interaction with the Internal Model Validation team.
• Ensure logs, reports and documentation are maintained and available for use/review by both internal and external parties.

What you'll need to succeed

• Experience in Insurance Risk measurement within General Insurance.
• An experienced Economic Capital Modeller with experience of stochastic modelling techniques.
• Experience in managing large projects - ensuring appropriate allocation of resources and ability to plan for tight deadlines.
• Strong leadership skills with the ability to manage, coach and mentor colleagues.
• Strong quality control and review skills, both qualitative and quantitative.
• Strong written and verbal communication skills, with the ability to present to stakeholders and write reports.
• Knowledge and experience in the regulation of Solvency II and other related regulatory regimes.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what's most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security-as well as your professional development-to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world's most far-reaching property casualty networks. It is an exciting time to join us - across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of belonging

We're committed to creating a culture that truly respects and celebrates each other's talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through our flexible work arrangements, diversity and inclusion learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The diversity of our people is one of AIG's greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to [e-mail].

Functional Area:

RK - Risk

AIG Europe (Services) Limited