Director - Corporate Risk Analysis

UFG Career•Cedar Rapids, IA

5d•$155,000 - $200,000•Remote

About The Position

UFG is looking for an experienced P&C capital modeling professional charged with advancing our capital modeling, solvency assessment and stress testing framework. As a member of the risk office, this position collaborates closely across all functions including underwriting, actuarial, finance, catastrophe modeling, and investment management. This position is a hands-on actuarial and financial modeling role with highly influential access to primary decision makers regarding capital management, reinsurance programs, and other corporate development activities requiring risk assessment and capital deployment. This is a challenging role requiring strong technical ability, financial business acumen and excellent communication skills. The Director - Corporate Risk Analysis will be involved in key strategic initiatives to assist in evaluating optimal outcomes of varied growth opportunities and capital management.

Requirements

Education: Bachelor’s degree in actuarial science, risk management, finance, mathematics, statistics, or related field.
Certifications/Designations: Fellow or Associate of the Casualty Actuarial Society (FCAS/ACAS) designation or related field equivalent
Commitment to continuing education to maintain current risk management and modeling best practices and newly developed capabilities
Experience: 8+ years relevant experience in P&C economic capital modeling
Strong understanding of corporate forecasting, statutory and GAAP accounting, capital adequacy evaluation, property catastrophe modeling, reinsurance pricing
Experience in risk quantification, financial modeling and regulatory stress testing (e.g., ORSA, AM Best, NAIC).
Skills: Strong technical, analytical and communication skills including effective presentation to a broad audience
The ability to translate mathematical model outcomes into strategic advice
Knowledge: Fluency in multiple computer languages and ability to learn new applications as needed.
Familiarity with MetaRisk or similar capital modeling software.

Nice To Haves

Advanced degrees in related fields are preferred.

Responsibilities

Develop, manage, and maintain the corporate economic capital model (ECM).
Work with internal and external parties leveraging model results to assist with strategic decision making for UFG.
Effectively present findings and proposals to senior leadership.
Evaluate capital adequacy based on a realistic representation of UFG’s existing and proposed risk profile and support internal, regulatory and rating agency capital evaluation and stress testing.
Perform optimization analysis of corporate reinsurance programs and recommend purchasing decisions supported by underwriting and financial analytics.
Advise senior leaders with clear and insightful reports and presentations on portfolio management efforts through ECM applications and modeling of industry exposures.
Recommend strategies for portfolio optimization and strategic corporate analysis.
Evaluate impact of business strategies, including catastrophe management, on overall capital requirements and engage with business and finance partners to optimize capital deployment.
Maintain a thorough understanding of regulatory and rating agency capital adequacy measures and engage with finance to monitor and optimize the external view of capital adequacy.
Support the corporate forecasting process to ensure all known information is incorporated into a rigorous projection.
Develop the company’s capabilities to measure and project capital adequacy.
Develop and implement a capital allocation framework to appraise underwriting performance on a risk-adjusted basis and produce required underwriting returns aligned with corporate targets.
In collaboration with the Enterprise Risk Manager, develop underwriting, investment, operational, and emerging risk scenarios for use in strategic planning and the Own Risk and Solvency Assessment (ORSA).
Maintain model documentation and adhere to corporate model governance standards including responsibility for maintaining proper controls and audit support
Perform analytical studies and maintain familiarity with current industry/trade developments to support robust parameterization and enhanced model designs.
May perform ad hoc special analyses and reinsurance pricing as needed