Insurance Risk Lead, Capital Modeling

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.

Key Responsibilities:

• 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.