Senior Catastrophe Risk Analyst

About us

At Munich Re Specialty - Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Senior Catastrophe Risk Analyst (Cyber)

We are currently looking for a Senior Catastrophe Risk Analyst to be based in London on a full-time basis, reporting into the Group Head of Exposure Management.

We are seeking an experienced Senior Catastrophe Risk Analyst with expertise in analysing, modelling, and mitigating cyber risk exposures. Skilled in developing and applying advanced catastrophe models to assess potential losses from cyber incidents, including data breaches, ransomware, and systemic IT failures. Proficient in working with underwriting, actuarial, and IT security teams to develop strategies that balance risk and opportunity. In-depth knowledge of cyber risk transfer mechanisms, regulatory environments, and emerging cyber threats. Adept at using data analytics, scenario testing, and cyber event modelling to provide actionable insights for informed decision-making.

Responsibilities:

• Support the Catastrophe Risk Manager in the ongoing development of Cyber catastrophe risk analytics to implement an appropriate view of Cyber catastrophe risk.
• Develop Cyber post-event loss estimation processes / claims calibration.
• Enhance current portfolio accumulation & optimisation practices.
• Assist the Catastrophe Risk Manager in developing a continuous appraisal of model validation and model calibration cycles demonstrating good governance and auditable process.
• Collaborate closely with underwriting teams to provide insights into cyber risk profiles, aiding in risk selection, pricing strategies, and portfolio optimization for cyber insurance products.
• Design and lead scenario development exercises to assess the potential impact of various Cyber risk scenarios on our portfolios of business.
• Enhance current practices of data visualisation and management information through reporting and dashboard creation.
• Review, develop and implement emerging modelling practices to improve model completeness and modelling gap.
• Support the continuing improvement of the department's function and output by advancing the automation of processes where possible, leading the development of new tools and establishing new approaches to enhance view of risk.
• Collaborate with cross-functional teams to gather data, validate models, and ensure the accuracy of catastrophe risk assessments.
• Stay up-to-date with the latest industry trends and emerging risks, and provide thought leadership on best practices in catastrophe modelling.
• Lead ad hoc project work, model validation, and process design.
• Collaborate with underwriters and other stakeholders to provide insights and recommendations on risk selection, pricing, and portfolio management.
• Mentor and provide guidance to junior analysts, fostering a culture of continuous learning and development within the team.
• Present findings and recommendations to senior management and external stakeholders, including reinsurers and regulators.

Knowledge and Skills:

• Strong proficiency in using Cyber catastrophe models (i.e. CyberCube or Moody's RMS Cyber Solutions) and statistical analysis tools (such as R or Python).
• Experience in developing and implementing emerging modelling practices for catastrophe risk assessment.
• Excellent analytical and problem-solving skills, with the ability to interpret complex data and communicate insights effectively.
• Ability to work collaboratively in a team environment and build effective relationships with stakeholders at various levels.

Benefits:

• 25 days Annual Leave + Bank Holidays.
• 10% Non-contributory Pension.
• Eligibility for an Annual Bonus.
• Private Medical + Dental Insurance.
• Critical illness insurance + Life Assurance + Permanent Health Insurance.
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility).
• Electric Vehicle Salary Sacrifice Scheme.
• Study & continuing Professional Development Support.
• Hybrid Working + IT Home Set-up Support.