Exposure Management Technical Specialist (ILS)

Chaucer Group; Greater London; Hybrid; GBP 110,000 - 170,000; Full time

Benefits offered by this job

Flexible hybrid work

Medical, life & pension benefits

Flexible holidays

Wellbeing support

Job summary

Chaucer Group, a leading Lloyd's insurer, seeks a senior technical professional to join the Exposure Management team. You will analyse non-traditional reinsurance structures (ILS), support modelling for outward RI purchases, and collaborate with the Head of Catastrophe Research and other senior managers.

Strong SQL, Power BI, VBA, and R/Python skills are required along with a commercial mindset. You will work in a flexible hybrid setup, engaging with external stakeholders and contributing to

Qualifications

• Strong statistical background with probability and statistics.
• Ability to explain complex technical work to varied audiences.
• Insurance and reinsurance experience with a commercial mindset.
• Experience in developing modelling tools and analytics.
• Experience establishing methods to assess new business opportunities.
• Familiarity with non-standard RI structures (ILS) and catastrophe modelling.

Responsibilities

• Design non-standard reinsurance treaties (ILS) and lead internal technical reviews.
• Lead EA activities related to non-standard RI (ILS), including reporting and stakeholder engagement.
• Minimise disruption to BAU for the Exposure Management team.
• Engage with external stakeholders as required.
• Drive change through value-added analytics in ExposMgt and Catastrophe Research.
• Support in developing pricing and aggregation systems to supportExposMgt analytics.
• Lead portfolio optimisation work for catastrophe-driven classes within Chaucer’s portfolio.
• Participate in broader Exposure Management team activities.
• Support non-standard projects and opportunities as they arise.

Skills

Exposure Management

Catastrophe Risk

Data Analytics

R and Python

Tools

MS SQL

Excel

GIS

R

Python

RMS/AIR

Job description

Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Headquartered in London, with international hubs in Copenhagen, Dubai, Miami, Dublin, Singapore, Sydney and Bermuda, to be closer to our clients across the world. To learn more about us please visit our website: www.chaucergroup.com

The role:

This is a senior technical position within the Exposure Management Team, working directly with the Head of Catastrophe Research, Head of Exposure Management, CUO, CRO and Head of RI Purchasing. This role mainly provides support for the more ad hoc technical work that comes up in the Exposure Management team outside of standard modelling or Portfolio Analytics BAU. The main focus of the role relates to non-traditional reinsurance structures (ILS).

The role requires close collaboration with the Outwards RI Purchasing team providing Exposure Management analysis for more unusual products that may be purchased to protect the Chaucer portfolio as part of the intelligent capital strategy. The holder of the role would be expected to explain complex technical work to technical and non-technical internal and external stakeholders. The role holder is also expected to provide technical support for modelling produced for standard Outwards RI purchases.

The role requires a strong statistical background with a good knowledge of SQL, Power BI, VBA, R/Python, whilst having good commercial understanding.

Detailed knowledge about different reinsurance structures is essential, especially non-traditional structures (ILS) as well as detailed understanding of simulation financial models, given this is the main focus of the role.

There will be some opportunity to get involved in different projects and to help the team improve and refine overall processes through automation whilst ensuring suitable controls and quality control.

There will also be some opportunity to work with the other senior managers within Exposure Management to develop alternative tools or analytics to support the business supporting the Portfolio Manager as required.

• Support the Head of RI Purchasing in the design of non-standard reinsurance treaties (ILS), leading the internal technical review of these treaties. Working closely with the Analytics Lead and other senior members of the Exposure Management team as required. Building strong relationships with Broker Analytics teams.
• Lead and complete the Exposure Management activities related to non-standard RI (ILS) already in place, including reporting and stakeholder engagement, ensuring an efficient and effective process.
• Ensuring minimal disruption to BAU for other members of the Exposure Management team.
• Engaging with external stakeholders as required.
• Help the Head of Exposure Management and Head of Catastrophe Research drive change through value-added and influential analytics.
• Support in the development and training of the in-house pricing and aggregation system to support
• Exposure Management tasks and analytics and the integration with modelling tools and Chaucer’s data strategy.
• Lead the portfolio optimisation work for Catastrophe driving classes with the Chaucer portfolio utilising a variety of statistical techniques and methods.

Additional Responsibilities

• Provide input and ideas for improvements in current Exposure Management activities and processes, including the appropriate implementation of controls and automation.
• On occasion, support the R&D team in the validation of both internal and externally licensed catastrophe models and provide input on data analytics options to assess different models or tools.
• Produce ad hoc Catastrophe modelling related technical support when required within Exposure Management or for the wider business.
• Participate in the wider activities of the Exposure Management Team.
• On occasion, support the business in non-standard projects as necessary including assessment of new business opportunities.
• Keep up-to-date with new science and technological developments in the Catastrophe Management field and ensure that all of the team are improving their scientific and technical understanding.
• As an attendee of CUG, provide technical and commercial input to decision making around the use of internal and proprietary models.

Skills, Knowledge and Experience

• Previous Exposure Management and Catastrophe Risk experience.
• Previous experience explaining technical information to a variety of audiences.
• Previous Insurance and Reinsurance experience with a commercial mind set.
• Experience of developing modelling tools.
• Experience of developing new and alternative analytics.
• Experience in establishing alternative methods to assess impact of new business opportunities.

Technical Skills

• Excellent numeracy skills with a good understanding of probability and statistical methodologies
• including the ability to pass on this knowledge to others.
• An understanding of insurance and reinsurance financial terms and structures, both traditional and non-traditional.
• Microsoft Excel and MS SQL.
• Programming languages, including R and Python.
• A comprehensive understanding of catastrophe modelling software – RMS or AIR.
• Knowledge of GIS and/or other mapping software.
• Knowledge of key modelling processes within a global (re)insurer.

Why Join Chaucer?

Chaucer is a leading global insurer operating in both Lloyd's and company markets, helping industries worldwide manage risk-from nuclear, shipping, manufacturing, and property. Headquartered in London, with offices in Copenhagen, Bermuda, Sydney, Ireland, Miami, Dubai, and Singapore, we're close to our clients wherever they are.

We have shown strong financial success with our Gross Written Premiums growing from $1.4bn in 2019 to $3.5bn in 2024. Backed by strong teams, platforms, and client relationships, Chaucer is poised for continued success.

We offer:

• A flexible hybrid work model that supports individual and team needs.
• A diverse, inclusive culture that values people for who they are.
• Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.