Assistant Vice President – Catastrophe Modeler – Guy Carpenter
Marsh McLennan Companies is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital. It is the parent company of a number of the world's leading risk experts and specialty consultants, including Marsh, the insurance broker and risk advisor; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. With over 50,000 employees worldwide and annual revenue of approximately $10 billion, Marsh McLennan Companies provides analysis, advice and transactional capabilities to clients in more than 100 countries. Its stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges.
Guy Carpenter is the world's premier reinsurance intermediaryand strategic advisor to leading insurance and reinsurance organizations, delivering integrated solutions through its industry-leading analytics and advisory services, highly specialized product knowledge and trading relationships with reinsurance markets around the world. Headquartered in New York City, Guy Carpenter has more than 2,300 employees in more than 50 locations worldwide.
Guy Carpenter's GC Analytics unit has an unparalleled ability to help clients achieve a deeper, broader understanding of their risks. Our GC Analytics professionals apply a wide range of advanced modeling techniques - from sophisticated experience and exposure rating to advanced risk and simulation modeling - to help clients profile risk for virtually any line of business against a wide spectrum of reinsurance options.
Job Summary
An integral part of the Cat Modeling team, this role will be assigned to gather and apply exposure data to the cat modeling software products and support the technical infrastructure of the department. This individual will receive data from clients and prepare it for import; apply the data to the hazard models; and analyze and validate results. The person will engage in written and oral communications with clients, model vendors, IT staff and Cat Modeling staff.
Responsibilities Duties:
- Gather and prepare property exposure data for assigned client projects
- Assess the data quality and make necessary assumptions for modeling; analyze changes in exposure and the associated impact of cat model results
- Model the probability distributions of the gross/ceded/net results using AIR, EQE, RMS and other vendor cat models
- Analyze how the distribution of results and relevant risk measures change as a result of application of various proposed reinsurance alternatives; report on analysis to brokers and clients
- Identify significant considerations that insurers should address in designing their reinsurance programs
- Respond to client queries and concerns, resolving issues promptly
- Assist in responding to client requests for information, coordinating other departments, as necessary
- Establish and maintain strong relationships with clients, and colleagues.
- Document all external correspondence and telephone conversations in accordance with GC procedures, including where appropriate, GC Professional Standards guidelines minimizing the potential for errors and omissions
- Update management on issues, progress, etc, regularly and upon request.
- Perform other job-related duties as assigned.
Requirements: (Knowledge, Skills Abilities)
- Thorough knowledge of insurance/reinsurance concepts and terms for developing and placing reinsurance programs
- Interpersonal skills for establishing and maintaining good external and internal relationships
- Strong written and verbal communication skills and ability to clearly articulate thoughts for complex subject matter (presentations, negotiations, etc.) with clients, markets and GC colleagues at many levels
- Ability to prioritize workload according to volume, urgency, etc
- Ability to find creative solutions to new problems, as they arise
- Ability to be organize and synthesize data
- Strong attention to detail
- Strong computer skills for using Microsoft Office (Excel, Access, Word, PowerPoint and Outlook)
- Recent demonstrated proficiency with Microsoft SQL Server Management Studio for purposes of querying and synthesizing exposure and loss data
- Strong working knowledge of at least one (preferably more) commercial model vendor applications (e.g. AIR CLASIC/2, RMS RiskLink, EQE WCE), including how to use the applications, trouble shoot problems, and communicate results and associated model methodology to clients, brokers, and colleagues, as required
- Ability to maintain compliance with professional standards, where applicable, as well as company-wide quality initiatives
- Ability to understand clients' business/industry
- Ability to work as part of a team to support clients' needs
- Ability to address client needs by accessing and organizing resources
- Ability to handle significant workflow through efficient time management
- Ability to challenge appropriately - supports case with facts and information
- Ability to seek ways to streamline and improve current processes
- Ability to possess technical knowledge/expertise as demonstrated by the ability to provide appropriate support to clients
- Knowledge of world reinsurance markets to comprehend wide range of products necessary to address insurers financial needs
- Ability to travel, entertain, and attend meetings, up to 20% of the time
Educational/Experience Requirements
- Must have 2-3 years of reinsurance and/or insurance industry experience including 2 year minimum relevant experience in cat modeling.
- BA/BS in Economics, Finance, Statistics, Mathematics or other quantitative focused disciplines.
- Technical expertise in AIR, RMS, and/or EQE vendor cat models, reinsurance terms and conditions, and data management including statistical plans and policy or exposure data warehousing; with risk management and property underwriting expertise preferred.
- Completion of and/or Membership in IDMA, CPCU, ARe, etc. and/or advanced degree in IT or quantitative discipline desirable.
Marsh McLennan Companies offers competitive salaries and comprehensive benefits and programs including: health and welfare, tuition assistance, pension and 401K, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: http://www.mmc.com /.
We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity.
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