Our Client is one of the United States’ largest insurers, providing a wide range of insurance and financial services products with gross written premium well over US$25 Billion (P&C). They proudly serve more than 10 million U.S. households with more than 19 million individual policies across all 50 states through the efforts of over 48,000 exclusive and independent agents and nearly 18,500 employees. Finally, our Client is part of one the largest Insurance Groups in the world.
Job SummaryThis position is responsible for implementing and maintaining model risk management framework.
The purpose of the role is to embed and oversee best practices for managing model risk across the enterprise for both financial and non-financial models (example pricing, reserving, economic valuation, economic capital, generative artificial intelligence), in line with regulatory and internal requirements.
Essential Job FunctionsDevelops and maintains the requirements for management of model risk, designed to mitigate the risk of model weaknesses or failures leading to adverse financial, strategic, or reputational consequences originating from the following areas: model inputs (data, parameters), methodology (methods, assumptions, and expert judgements), model implementation (development, maintenance, and running the model), model outputs (and their usage).
Subject matter expert of model risk governance best practices for both financial and non-financial models.
Maintains expertise of model workings, differences, functional capabilities, and changes.
Keeps management updated on current technical and industry trends related to the catastrophe modeling.
Stays current on developments and new trends in science that may affect long-term trends in catastrophe losses and our ability to forecast them.
Manages and prioritizes multiple projects through efficient time management. Inspires, leads, and trains the modeling teams.
Coordinates necessary training to ensure the team is current on the developments in the catastrophe modeling field.
Facilitates requirements with model owners and monitors compliance with requirements.
Identifies weaknesses and develops and provides oversight of issue remediation.
Interacts with stakeholders to present work product in a clear, concise fashion without need for guidance.
Challenges and advises stakeholders as appropriate. Establishes relationships with stakeholders and colleagues.
Prepares and delivers risk reports to Risk and Control committees and company executives. Performs other tasks as assigned.
RequirementsExperience Requirements
Minimum 3 years of experience in modelling, risk management, or related business experience required.
Risk Management and/or insurance industry underwriting, actuarial, reinsurance and/or claim operations related experience preferred.
Education Requirements
High School Diploma or equivalent required. Bachelors degree preferred in an analytical field (mathematics, engineering, actuarial science, economics, atmospheric or natural science).
Benefits
This position comes with competitive compensation and benefits package:
- Competitive salary and performance-based bonuses
- Comprehensive benefits package
- Career development and training opportunities
- Flexible work arrangements (remote and/or office-based)
- Dynamic and inclusive work culture within a globally renowned group
- Private Health Insurance
- Pension Plan
- Paid Time Off
- Training & Development
Top Skills
What We Do
Capgemini is a global leader in partnering with companies to transform and manage their business by harnessing the power of technology. The Group is guided everyday by its purpose of unleashing human energy through technology for an inclusive and sustainable future. It is a responsible and diverse organization of 270,000 team members in nearly 50 countries. With its strong 50 year heritage and deep industry expertise, Capgemini is trusted by its clients to address the entire breadth of their business needs, from strategy and design to operations, fueled by the fast evolving and innovative world of cloud, data, AI, connectivity, software, digital engineering and platforms. The Group reported in 2020 global revenues of €16 billion.
