Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
Role Description
The Chubb Catastrophe Management Team supports the underwriting, claims, risk, and actuarial functions of Chubb Europe, Chubb Global Markets, and Chubb Overseas General. A main function of the Catastrophe Management Team is ensuring that Chubb European Group’s Catastrophe Management practices and procedures are best in class and compliant with all regulatory expectations, including those of Solvency II and Lloyd’s. The function is also significantly involved in the business planning process and determining the potential effect catastrophe exposures can have on future underwriting strategies.
Reporting directly into the Regional Catastrophe Risk Manager, the Catastrophe Reporting Manager will be responsible for all of Chubb’s Catastrophe internal and external regulatory reporting requirements.
Key Responsibilities
Managing and delivering the reporting and regulatory requirements of Catastrophe Management in Chubb European Group, ensuring accuracy and timeliness of all internal and external submissions:
1. To work with the Regional Catastrophe Risk Manager in the provision of catastrophe services, ensuring all regulatory submissions and requirements are made on time and accurately.
2. Ensure the timely submission of key external regulatory submissions such as the Lloyds RDS or LCM, Terror exposure returns to Pool Re, ARPC, GAREAT and the London Fire Brigade return.
3. Undertake new regulatory reporting requirements, such as the Lloyds EDS or the PRA’s DyGist.
4. Manage the internal Catastrophe and Accumulation Working Group and provide a Catastrophe Risk viewpoint on other working groups within Chubb European Group.
5. Direct managerial responsibility for one Catastrophe Reporting Analyst.
6. Work with the Catastrophe Modelling teams to understand the exposure of Chubb European Group to various peril region hazards whilst reporting against set benchmarks or appetites.
7. Maintain current, whilst also developing new and appropriate, catastrophe risk disaster scenarios.
8. Develop an understanding of how emerging risks could impact Chubb European Group.
9. Develop methodologies for managing new and emerging natural or man-made risks.
10. Drive the constant improvement of reporting and analytics.
11. Work with Actuarial and Risk functions to provide the necessary Catastrophe inputs into the internal capital model.
12. Undertake model validation for new models or model updates, understand and report on the impact these have on Chubb’s capacity guidelines or solvency capital requirements (SCR).
13. Ensure Chubb’s view of risk is complete and appropriate for the exposures underwritten by the company.
Experience
14. 7+ years of catastrophe modelling experience across various lines of business with emphasis on regulatory reporting.
15. In depth knowledge of Moody’s Risk Link / Risk Modeller, AIR Touchstone, or both.
16. Advanced SQL and preferably an ability to code in either of either VBA, R or Python.
Skills and qualifications
17. Degree educated, preferably in mathematics, engineering or a science.
18. Advanced Excel.
19. Advanced SQL
20. Knowledge of RMS EDM and RDM structures or AIR Touchstone database structures.
21. Experience in managing and submitting regulatory returns to Lloyds of London, the PRA or ACPR.
22. Strong maths capabilities and the desire to work heavily with numbers.
23. Strong people skills with the ability to present to wide audiences.
24. Strong project management skills, with the ability to balance multiple projects.
25. Good written and oral communication skills; ability to explain technical issues in non-technical terms and to present to senior management.
26. The ability to produce high quality presentation material.
27. Attention to detail.
28. An in-built desire to impress stakeholders and increase the impact that catastrophe management has on the business.