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    Insurance Risk Analyst - Chicago, United States - Diligente Technologies

    Default job background
    Banking / Loans
    Description

    Role: Insurance Risk Analyst

    Location: Chicago, IL – Hybrid

    Type: Fulltime

    What You'll do

    We are seeking a highly motivated individual to join our team as an Insurance Risk Analyst. In this role, you will be responsible for assisting in the development and maintenance of risk rating models, utilizing your quantitative, actuarial, or statistical background. You will work closely with senior analysts to analyze data, build and validate models, and provide insights to support decision-making processes for our insurance company members.

    How you'll make an impact:

    • Contribute to the on-going support, development and implementation of risk rating models for insurance Members, ensuring accuracy and efficiency in data analysis to support informed decision-making processes.
    • Collaborate with cross-functional teams to gather data and insights, staying updated on industry trends and regulatory requirements, and recommending necessary changes to enhance model performance.
    • Assist in underwriting and preparing of comprehensive reports covering financial condition, trend, and prospects of members and prospective members, thereby supporting the Bank in managing credit risk effectively.

    What you can expect:

    • Develop and support internal models for assessing credit risk and assigning risk ratings for our life and property & casualty insurance members.
    • Maintain credit models, as well as support department analytics of large financial data sets
    • Utilize Excel VBA to build and automate models, ensuring accuracy and efficiency in data analysis.
    • Conduct statistical analysis and data mining to identify trends and patterns in credit risk.
    • Collaborate with cross-functional teams to gather data and insights to enhance model performance.
    • Stay updated on industry trends and regulatory requirements related to credit risk modeling.
    • Provide support in the preparation of reports and presentations as well as ad hoc analysis for senior management and third parties (such as regulators).

    What you'll bring:

    • Bachelor's or Master's degree in Mathematics, Actuarial Science, Statistics, or some other analytical field
    • 1-4 years of experience in insurance analysis required
    • Experience with insurance organizations and statutory accounting is desired including but not limited to previous experience in credit underwriting or financial analysis, preferably in the insurance industry.
    • Familiarity with regulatory filings, statutory accounting principles, and financial modeling.
    • Experience with SNL Financial or similar financial data platforms.
    • Strong analytical skills with the ability to interpret complex data sets.
    • Knowledge of the insurance industry and understanding of credit risk principles.
    • Excellent interpersonal communication skills (written, oral, and listening) are required.
    • Attention to detail and commitment to producing high-quality work.
    • At ease working within a team-based environment.
    • Time management and an ability to display curiosity and initiative are necessary.
    • Tableau, VBA, R, SNL and Bloomberg experience is a plus
    • Familiarity with MS Office Products Required (Excel, Outlook, Access, and Word)

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