Capital Modeling Lead, P&C Insurance - Remote
About The Position
CSAA Insurance Group (CSAA IG), a AAA insurer, is one of the leading personal lines property and casualty insurance groups in the United States. We build innovative, human-centered solutions that help AAA members prevent, prepare for, and recover from life's uncertainties. You will join a collaborative, inclusive culture where your strengths have room to grow and your ideas can drive real impact. Step into a role where you can contribute to our shared success through meaningful work. We are actively hiring for a Capital Modeling Lead! The Capital Modeling Lead will develop CSAA Insurance Group's internal economic capital modeling and analytics capabilities. The role will initially operate alongside CSAA's external capital modeling consultant, which will continue to produce the company's official annual economic capital model results. The Capital Modeling Lead will have access to CSAA's existing ReMetrica-based economic capital model and will be responsible for developing CSAA's independent internal modeling expertise. The successful candidate will be capable of understanding, challenging, modifying, and, where appropriate, independently building an economic capital model from the ground up. The role will partner with Enterprise Risk Management, Actuarial, Reinsurance, Investments, Product Management, catastrophe modeling, and FP&A to expand the use of capital analytics in business decisions. Over time, this role may become the technical lead for an internally operated economic capital model.
Requirements
- A Bachelor’s degree in a related field or equivalent combination of education and experience.
- 10+ years of related experience, including considerable experience in P&C insurance economic capital modeling, enterprise risk modeling, or closely related quantitative insurance modeling.
- Proven ability to design or build stochastic insurance models, rather than solely operate existing models.
- Strong understanding of Monte Carlo simulation, probability distributions, VaR and TVaR, dependency and correlation modeling, diversification, capital attribution, and parameter/model uncertainty.
- Solid understanding of P&C underwriting and reserve risk.
- Experience incorporating catastrophe-model output into economic capital or other stochastic insurance models.
- Understanding of reinsurance structures and their impact on loss distributions and capital.
- Working knowledge of investment market and credit risk within an insurer's balance sheet.
- Strong programming capability in Python, R, or another quantitative language.
- Ability to work with large datasets and develop repeatable analytical processes.
- Ability to communicate sophisticated quantitative concepts to nontechnical business leaders.
Nice To Haves
- Experience with ReMetrica.
- FCAS, ACAS, CFA, FRM, graduate degrees, or other relevant quantitative credential; actuarial credentials are useful but not required.
- Experience with capital allocation, marginal capital, or RORAC.
- Experience with catastrophe vendor models such as Verisk/AIR, Moody's RMS, or Cotality/CoreLogic.
- Experience modeling reinsurance treaties.
- Familiarity with NAIC RBC, AM Best BCAR, ORSA, statutory accounting, and insurance regulatory capital.
- Experience with model validation or model-risk-management frameworks.
- Experience with Git/version control and production analytical-development practices.
- Experience supporting senior management, Board, rating agency, or regulatory discussions.
- Actively shapes our company culture (e.g., supporting employee resource groups, mentoring employees, volunteering, joining cross-functional projects).
- Champions our cultural norms (e.g., willing to have cameras on when it matters: helping onboard new team members, building relationships, etc.).
- Demonstrates a company ownership mindset, thinking beyond boundaries of their own area.
- Travels as needed for role, including divisional / team meetings and other in-person meetings.
- Fulfills business needs, which may include investing extra time, helping other teams, etc.
Responsibilities
- Develop deep technical understanding of CSAA's existing ReMetrica-based economic capital model.
- Independently reproduce, challenge, and enhance existing model calculations and methodologies.
- Design and build stochastic economic capital models integrating underwriting, reserve, catastrophe, investment, credit, reinsurance, and other material risks.
- Evaluate alternative approaches to VaR, TVaR, tail-risk measurement, diversification, and capital attribution.
- Analyze dependency structures and correlations across insurance risks, business lines, geographies, catastrophe perils, and investment risks.
- Perform sensitivity, scenario, stress, and parameter uncertainty analyses.
- Assess model stability and uncertainty in extreme-tail estimates.
- Develop approaches for marginal and incremental capital analysis.
- Partner with Reinsurance to evaluate capital relief, attachment points, limits, alternative structures, and cost of capital.
- Partner with Investments to evaluate the economic capital effects of asset allocation and investment risk decisions.
- Collaborate with Product Management, catastrophe modeling, and Actuarial teams to evaluate the capital implications of growth, geographic concentration, underwriting strategies, catastrophe exposure, and portfolio changes.
- Support FP&A and Enterprise Risk Management in forward-looking capital projections, stress testing, and strategic planning.
- Develop analyses that translate economic capital results into actionable business insights.
- Identify opportunities where improved capital information could materially enhance business decisions.
- Develop and evaluate methodologies for allocating enterprise capital to products, states, risks, and other business segments.
- Evaluate marginal and diversified capital approaches relative to existing allocation methodologies.
- Support calculation and analysis of risk-adjusted profitability, capital intensity, and return on risk-adjusted capital.
- Analyze the relationship between capital allocation and target combined ratios.
- Build reproducible and controlled modeling processes.
- Develop automated data validation, model testing, reconciliation, and change-control processes.
- Maintain clear documentation of methodology, assumptions, model architecture, limitations, and model changes.
- Establish version control and appropriate development/production model practices.
- Develop efficient processes for recurring scenario and sensitivity analyses.
- Provide independent technical challenge of assumptions supplied by internal subject-matter experts and external consultants.
- Collaborate with external capital modeling consultants on methodology development and model enhancements.
- Support independent model validation and remediation of identified findings.
- Support ORSA, rating agency, regulatory, and management discussions related to economic capital.
- Clearly distinguish experimental/internal analyses from official capital-model results.
Benefits
- Total compensation package
- Annual bonus eligibility for most roles
- 401(k) with a company match
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What This Job Offers
Job Type
Full-time
Career Level
Senior
