Associate Director, Risk Management - Markel Insurance (US & Bermuda)

Markel•Richmond, VA

5d•$141,640 - $194,755•Onsite

About The Position

Markel Insurance, a leading global specialty insurer within Markel Group Inc. (NYSE: MKL), is seeking an Associate Director, Risk to join its Risk Management function based in New York, NY. Since 1930, Markel has built a reputation for finding creative solutions to complex risks and for leveraging the power of our people to deliver intelligent specialty insurance solutions worldwide. Guided by the Markel Style — our commitment to hard work, a zealous pursuit of excellence, honesty, fairness, and a disdain for bureaucracy — we empower individuals to reach their full potential while winning together as a team. The Associate Director, Risk will serve as a senior member of the risk management function, responsible for leading risk assessment and scenario development, supporting the review and challenge of business plans, maintaining the risk appetite framework, and partnering cross-functionally with underwriting and exposure management teams. This role carries significant responsibility for regulatory deliverables, executive-level risk reporting, and linking integrating analysis with business decision-making. The ideal candidate will combine deep technical expertise in P&C insurance risk management with strong communication skills and the ability to operate effectively in a collaborative, fast-moving specialty insurance environment. This position reports to the Chief Risk Officer, US & Bermuda, and will collaborate regularly with the Office of the Chief Underwriting Officer (OCUO), Actuarial, Finance, and other key stakeholders across the organization.

Requirements

Bachelor's degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related quantitative field is required.
A minimum of 8–12 years of progressive experience in enterprise risk management, actuarial, or insurance risk functions within the property and casualty insurance or reinsurance industry.
Demonstrated proficiency in capital modeling, catastrophe modeling platforms, and advanced data analysis using Excel, SQL, Python, or R.
Strong working knowledge of U.S. insurance regulatory frameworks, including NAIC requirements, ORSA, Risk-Based Capital (RBC), and AM Best rating agency methodologies.
Excellent analytical, problem-solving, and critical-thinking skills.
Superior written and verbal communication abilities, with a demonstrated capacity to present complex risk topics clearly to executive audiences and Board-level stakeholders.
Strong business judgment, intellectual curiosity, and the ability to work independently while building collaborative relationships across functions.
A results-oriented mindset consistent with Markel's culture of accountability, teamwork, and continuous improvement.
US Work Authorization required. Markel does not provide visa sponsorship for this position, now or in the future.

Nice To Haves

A master's degree or MBA is preferred.
One or more of the following designations is strongly preferred: Fellow of the Casualty Actuarial Society (FCAS), Chartered Property Casualty Underwriter (CPCU), Financial Risk Manager (FRM), Associate of the Casualty Actuarial Society (ACAS), or equivalent professional risk management certification.
Direct experience with specialty or surplus lines products is highly valued.
Experience with business intelligence and visualization tools (e.g., Tableau or Power BI) is a plus.
Familiarity with Solvency II concepts is advantageous.

Responsibilities

Lead the development of Probable Maximum Loss (PML) estimates by leveraging internal exposure data, catastrophe models, and actuarial analysis.
Design, execute, and refine risk scenarios to evaluate the impact of adverse events and to support strategic decision-making at the enterprise level.
Support the review and challenge of business unit plans from a risk perspective, evaluating alignment with risk appetite, capital adequacy, and strategic objectives.
Contribute to a robust, issues-based annual business planning process by providing independent risk assessments and facilitating challenge sessions with business leadership.
Develop, maintain, and monitor the company's risk appetite framework, including the formulation of risk appetite statements, risk tolerances, and risk limits across material risk categories.
Ensure that the risk appetite framework is integrated into underwriting, investment, and strategic planning processes and that Board and senior management understanding of risk appetite is current and actionable.
Partner closely with Underwriting Risk, Catastrophe and Exposure Management, and other functions within the OCUO to identify, assess, and mitigate insurance risks across Markel's P&C portfolio.
Leverage and support Markel's data and analytics strategy.
Identify opportunities to leverage advanced analytics and automation to improve the efficiency and effectiveness of risk processes.
Manage and support key regulatory deliverables, including the Own Risk and Solvency Assessment (ORSA) report, Commercial Insurer's Solvency Self-Assessment (CISSA), financial examinations, and supervisory college processes.
Ensure that regulatory submissions are accurate, timely, and reflective of the company's current risk profile and ERM framework.
Develop and maintain a suite of Key Risk Indicators (KRIs) and executive-level risk dashboards that provide senior management and the Board with transparent, actionable insight into the company's risk profile.
Continuously refine reporting to ensure relevance, clarity, and alignment with evolving strategic priorities.
Oversee risk exposure aggregation processes across insurance, market, credit, and operational risk categories.
Monitor risk appetite metrics on an ongoing basis and escalate breaches or emerging concerns to senior leadership in a timely manner.