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    director - capital modeling - Des Moines, United States - Grinnell Mutual Reinsurance

    Grinnell Mutual Reinsurance
    Grinnell Mutual Reinsurance Des Moines, United States

    3 weeks ago

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    Description

    Job Description



    Overview:


    Grinnell Mutual is looking for a technical expert to identify the key inputs needed to build a successful modeling capability in a complex insurance and reinsurance environment.

    This role will apply the technical expertise to construct and refine various capital models in support of pricing, reserving, and forecasting.

    A key responsibility will be to monitor key performance indicators within the property and casualty insurance industry, and provide ongoing analysis to optimize solutions ensuring profitable growth and surplus exposure.


    The Director of Capital Modeling will work collaboratively with senior leadership team members to build capital modeling capabilities for the entire enterprise.

    This position will establish a basic model and then enhance the model over time and experience to create a robust modeling function.


    This is your opportunity to be part of Grinnell Mutual's amazing (and highly decorated) culture - which continues to thrive and functions in a largely virtual world.

    Speaking of which, this position qualifies for our flexible workplace options.

    Work at our Grinnell, Iowa, headquarters, or work from home in any of the following states:


    Alabama, Arizona, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Maine, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Virginia, Wisconsin, and Wyoming.

    Please note that candidates must be eligible to work in the U.S. without Grinnell Mutual sponsorship.


    Responsibilities:


    Manages development efforts for capital risk modeling and presents to stakeholders, including senior leadership, board members and external partners, on an as needed basis.


    Serves as subject matter expert in the areas of risk quantification and modeling while working closely with internal and external stakeholders.

    Ensures compliance with risk modeling procedures and policies.

    Develops and presents technical models and documentation as needed to ensure proper understanding of data and analysis.

    Analyzes variances in insurance models, pricing, performance, and working capital models, making suggestions for improvement. Surplus at risk analysis and other actuarial type models.

    Implements, maintains, and refines a functional capital model to manage CAT risk.

    Seeks corporate support for proposed CAT allocations and develop a plan to measure corporate and division risk tolerance using this model.


    Leverages capital modeling software, other tools, and external partnerships to develop a model to measure property exposure for catastrophe perils and relative return periods by building out Occurrence Exceedance Probability (OEP) curves for each of the business units.

    Proposes the appropriate portion of surplus to be allocated to business units based on capital risk models.

    Measures and reports the portfolio against risk tolerance statements. If portfolio risk is outside of risk tolerance parameters, makes recommendations for compliance.

    Designs modeling methods and measurements in a way that can be leveraged corporately.

    Performs all other duties as assigned.

    Qualifications:
    Bachelor's degree from an accredited college or university required, preferably in actuarial science, mathematics, economics, or related fields.

    10 + years of property-casualty insurance experience, with focus on valuation, modeling or capital management preferred.


    Fellowship in the Casualty Actuarial Society (FCAS) with 10+ years of experience, or Associateship in the Casualty Actuarial Society (ACAS) with 12+ years of experience.

    Experience with financial analysis of income statement, balance sheet and capital projections.

    Experience with actuarial projection or valuation software, database applications, business intelligence tools.

    Demonstrated experience with statistical modeling, regression analysis, copula probability, Monte Carlo Simulations, and other forms of analysis.


    Exhibited strong analytical skills and critical thinking skills with the ability to assimilate information, understand new and complex topics, and integrate data for analysis.

    Demonstrated ability to plan proactively over a multi-year period with knowledge of strategic actuarial practices.


    Possesses advanced knowledge of business, industry, and market information with ability to apply knowledge to actuarial division and job responsibilities.


    Aptitude to make effective decisions and/or involve others in the decision-making process as needed to obtain information, generate alternatives, and make the best decision.

    Ability to use personal judgment, experience, facts and figures to make decisions and resolve problems.


    Capacity to think creatively to recommend innovative ideas and solutions to grow the business while supporting the organization's mission and goals.

    Ability to manage multiple priorities and projects as required.

    Ability to use general office equipment; knowledge of Microsoft Office suite products including MS Word and Outlook.

    Requires regular and predictable attendance to meet the customer needs of the position.

    Occasional overnight travel for training or conferences.

    Must be able to maintain confidentiality and proprietary information.

    Demonstrated ability to adhere to all Grinnell Mutual policies.

    Demonstrated ability to incorporate Grinnell Mutual core values in all areas work.

    Working conditions and physical efforts

    To perform this job successfully, an individual must be able to perform each job duty and responsibility satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform job duties and responsibilities.


    This position is physically located in a remote office or at one of Grinnell Mutual's campuses with a work environment of a typical office setting; work environment of a typical office setting; noise level is relatively quiet.

    Requires an individual to sit or stand for long periods of time and to drive a vehicle on an occasional basis, including during inclement weather.

    Interacts with many types of people, may encounter resistance, which can be stimulating, yet demanding and stressful.

    Works under externally imposed deadlines with unexpected and frequent interruptions to the workflow making it challenging to anticipate the nature and volume of work to perform and meet established deadlines.

    Requires the individual to frequently interact via telephone, video conference, and in-person.

    Ability to exert up to 20 pounds of force and to lift to 10 pounds.


    This job description is not intended to describe, in detail, the multitude of tasks that may be assigned, but rather to give the employee a general sense of the responsibilities and expectations of the position.

    As the nature of the business demands change, so too may the job duties and responsibilities.


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