2 new positions: Head of General Insurance Model Risk Management and Head of Life Insurance Model Risk Management.
Our client a large international insurance corporation involved us to search for a Head of General Insurance Model Risk Management and Head of Life Insurance Model Risk Management. Two positions
In Group Risk Management we have created 2 new positions: Head of General Insurance Model Risk Management and Head of Life Insurance Model Risk Management.
The purpose of the roles is the oversight of risks associated with strategic models in use throughout the Group, in the GI or Life Insurance segment (excluding investments). As the Head of GI Insurance Model Risk Management or the Head of Life Insurance Model Risk Management, you will lead the development, implementation and execution of the model risk management (MRM) framework for all GI or Life strategic models (e.g. pricing, reserving, economic valuation, and economic capital).
As a Head of General or Life Insurance Model Risk Management your main responsibilities will involve:
- Developing the model risk management framework, with a focus on strategic models in General Insurance or Life Insurance
- Leading and overseeing second line of defense activities in order to limit and mitigate model risk within General Insurance or Life Insurance segment
- Reporting to management and external stakeholders on model risk and model risk framework within General Insurance or Life Insurance segment
- Ensuring compliance of validation process with regulatory requirements (e.g. SII/SST for internal capital models) and internal policy
- Establishing and managing alliances with key partners in the validation process
- Providing risk insights and expert advice to model owners
- Managing resources involved in validation projects
- Creating teams of appropriate internal and external resources
- University degree in Mathematics/Statistics/Finance and fully qualified actuary, with at least 10 years of relevant work experience in a General Insurance or Life Insurance company, in a reinsurance company or a consulting firm.
- Solid experience in modeling for economic capital, reserving and pricing in General Insurance or Life Insurance
- Excellent statistical and actuarial background (e.g. Monte-Carlo simulation techniques, stochastic processes, dependency modeling and copulas, loss triangle, modeling of claims payment pattern and liability valuation and reserving)
- Proven project experience, including strong communication and relationship building capabilities
- Solid understanding of risks in General Insurance or Life Insurance models, related processes and underlying data
- Strong analytical skill, capable of efficiently solving complex analytical problems in a structured way
- Ability to think in models and gain a quick and in-depth understanding of complex relations
- English fluent in written and spoken
Primary work location is Zurich. Ability to travel within specified region for short durations.