Senior Catastrophe Risk Analyst

Munich Re; London; On-site; GBP 50,000 - 90,000; Full time

Job summary

Join a forward-thinking company as a Senior Catastrophe Risk Analyst in London, where you will play a crucial role in analyzing and modeling cyber risk exposures. This exciting position involves collaborating with various teams to develop strategies that balance risk and opportunity while enhancing data visualization practices. You will lead scenario development exercises and mentor junior analysts, fostering a culture of continuous learning. With a strong commitment to diversity and inclusion, this innovative firm offers a supportive environment that encourages professional growth and development, making it an ideal place for those passionate about making a difference in the insurance industry.

Benefits

Critical illness insurance

Life Assurance

Permanent Health Insurance

Wellbeing and Development Scheme

Electric Vehicle Salary Sacrifice Scheme

Study & continuing Professional Development Support

Qualifications

• Experience in cyber risk analytics and catastrophe modelling.
• Strong analytical skills with proficiency in statistical tools.

Responsibilities

• Support Cyber catastrophe risk analytics and model validation.
• Collaborate with underwriting teams on cyber risk profiles.
• Lead scenario development exercises for cyber risk assessment.

Skills

Cyber catastrophe models

Statistical analysis tools (R, Python)

Data analytics

Model validation and calibration

Scenario testing

Cyber risk transfer mechanisms

Collaboration with underwriting teams

Education

Degree in a relevant field (e.g., Mathematics, Statistics, Finance)

Tools

CyberCube

Moody’s RMS Cyber Solutions

Job description

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.

We are currently looking for a Senior Catastrophe Risk Analyst to be based in London on a full-time basis, reporting into the Group Head of Exposure Management.

We are seeking an experienced Senior Catastrophe Risk Analyst with expertise in analysing, modelling, and mitigating cyber risk exposures. Skilled in developing and applying advanced catastrophe models to assess potential losses from cyber incidents, including data breaches, ransomware, and systemic IT failures. Proficient in working with underwriting, actuarial, and IT security teams to develop strategies that balance risk and opportunity. In-depth knowledge of cyber risk transfer mechanisms, regulatory environments, and emerging cyber threats. Adept at using data analytics, scenario testing, and cyber event modelling to provide actionable insights for informed decision-making.

Responsibilities:

• Support the Catastrophe Risk Manager in the ongoing development of Cyber catastrophe risk analytics to implement an appropriate view of Cyber catastrophe risk.
• Assist the Catastrophe Risk Manager in developing a continuous appraisal of model validation and model calibration cycles demonstrating good governance and auditable process.
• Collaborate closely with underwriting teams to provide insights into cyber risk profiles, aiding in risk selection, pricing strategies, and portfolio optimization for cyber insurance products.
• Design and lead scenario development exercises to assess the potential impact of various Cyber risk scenarios on our portfolios of business.
• Enhance current practices of data visualisation and management information through reporting and dashboard creation.
• Review, develop, and implement emerging modelling practices to improve model completeness and modelling gap.
• Support the continuing improvement of the department’s function and output by advancing the automation of processes where possible, leading the development of new tools and establishing new approaches to enhance view of risk.
• Collaborate with cross-functional teams to gather data, validate models, and ensure the accuracy of catastrophe risk assessments.
• Stay up-to-date with the latest industry trends and emerging risks, and provide thought leadership on best practices in catastrophe modelling.
• Lead ad hoc project work, model validation, and process design.
• Collaborate with underwriters and other stakeholders to provide insights and recommendations on risk selection, pricing, and portfolio management.
• Mentor and provide guidance to junior analysts, fostering a culture of continuous learning and development within the team.
• Present findings and recommendations to senior management and external stakeholders, including reinsurers and regulators.

Knowledge and Skills

• Strong proficiency in using Cyber catastrophe models (i.e. CyberCube or Moody’s RMS Cyber Solutions) and statistical analysis tools (such as R or Python).
• Experience in developing and implementing emerging modelling practices for catastrophe risk assessment.
• Excellent analytical and problem-solving skills, with the ability to interpret complex data and communicate insights effectively.
• Ability to work collaboratively in a team environment and build effective relationships with stakeholders at various levels.

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets, our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social, and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support