VP, Head of CAT Modeling

LE003 Coaction Specialty Management Company, Inc.; Morristown (NJ); On-site; USD 192,000 - 260,000; Full time

Benefits offered by this job

Benefits package

Job summary

Coaction Specialty Insurance Group in Morristown, NJ seeks the Head of CAT Modeling to lead catastrophe management and modeling, overseeing portfolio monitoring and reporting, and integrating catastrophe analytics into underwriting and reinsurance decisions.

The role requires directing a team, coordinating with CUO, CRO, actuarial, and claims, and delivering insights to regulators and rating agencies while driving risk reduction through CAT tools such as AIR models.

Qualifications

• 10-15 years of CAT management and modeling experience.
• Ability to build relationships across diverse teams and manage priorities.
• Strong communication with regulators and rating agencies.

Responsibilities

• Build partnerships to leverage catastrophe analytics for underwriting and reinsurance decisions.
• Monitor CAT portfolio and provide analytics to improve risk and portfolio management.
• Deliver high-quality reports to internal and external stakeholders including management, regulators, and rating agencies.

Skills

CAT modeling

Stakeholder management

Team leadership

Tools

AIR models

Job description

At Coaction, we're a unique mix of leaders, achievers, thinkers, and team players with a high-performance mindset and a diverse skillset. We bring our industry expertise together to continually push the boundaries of what insurance can be for our clients. The Head of CAT Modeling leads Coaction's catastrophe management and modeling. They are responsible for portfolio monitoring and reporting, integration of catastrophe analytics in underwriting and reinsurance decisions, and event monitoring and reporting.

Responsibilities

• Building partnerships with stakeholders to leverage catastrophe analytics in support of underwriting and reinsurance decisions across multiple business units.
• Regularly monitoring CAT portfolio leveraging CAT models and accumulation management analytics to identify and explain portfolio changes and recommend actions to improve risk and portfolio management.
• Delivery of high-quality reports and insights to internal and external stakeholders including underwriting and company management, regulators, and rating agencies. Streamline reporting of property-related data to improve speed-to-insight and stakeholder self-service.
• Oversee pre-event monitoring and post-event impact reporting coordinating with CUO, CRO, actuarial, claims, reinsurance, and others.
• Working with CUO and CRO teams to support optimal underwriting strategies within the parameters of a risk/reward framework.
• Support evaluation and planning of new business opportunities including CAT exposures to understand accumulation impact and de-risking strategies.
• Manage CAT referral processes across multiple business areas. Identify opportunities to enhance processes and implement changes as models, systems, and business dynamics change.
• Maintain and enhance analytical reinsurance framework utilizing experience, market, and pro-forma data sources to evaluate reinsurance solutions and identify and communicate tradeoffs to balance business needs, risk, and cost.
• Managing and training staff on usage of CAT modeling tools including AIR models and relevant databases and analytical tools.
• Support reinsurance operations in monitoring and reporting across multiple property placements.
• Coordinating closely with CAT modeling vendors and reinsurance brokers, providing insight and recommendations on data and tools to improve risk and portfolio management capabilities.

Qualifications

• 10-15 years of CAT management and modeling experience, with a track record of building or substantially improving CAT reporting, underwriting analytics, and reinsurance decision-making processes.
• Experience partnering with colleagues at all levels across different functional areas, managing competing priorities and deadlines.
• Demonstrated ability to build and manage relationships with internal and external stakeholders establishing a level of mutual respect and challenge.
• Strong technical knowledge of catastrophe models; AIR preferred, with the ability to evaluate and lead platform transitions.
• Demonstrated ability to lead, train, and motivate a team, as both a manager and a member.
• Conscientious, well organized, efficient, and autonomous.
• Able to identify and summarize complex, cross-functional issues in clear, concise language for non-technical audiences.
• Excellent interpersonal skills.

Salary range specific to for this role: $192,000-$260,000 + discretionary incentive bonus + benefits depends on various factors including, without limitation, individual and organizational performance. The offered rate of compensation will be based on individual education, experience, and qualifications. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.

Equal Opportunity Employer

Coaction is an Equal Employment Opportunity employer. Coaction's policy is not to discriminate against any applicant or employee based on race, color, religion, national origin, gender, age, sexual orientation, gender identity or expression, marital status, mental or physical disability, and genetic information, or any other basis protected by applicable law. Coaction also prohibits harassment of applicants or employees based on any of these protected categories.

Coaction Specialty Insurance Group (Coaction) is a privately-owned, specialty property and casualty (P&C) insurance company headquartered in Morristown, New Jersey, with additional offices in Glendale, California, and New York City. Founded in 2009 as ProSight, the company completed a go-private transaction with investment management firm, TowerBrook Capital Partners (TowerBrook), and private-equity firm, Further Global Capital Management (Further Global), in August of 2021. Today, Coaction is a full specialty underwriter across five major product verticals: property, casualty, entertainment, executive liability, and multi-line. Through these verticals, Coaction provides a range of coverages to customers across the U.S. via both open brokerage and delegated underwriting authority platforms. Coaction's authentic, collaborative, and results-oriented culture is reflected in the focused approach the company takes to fulfilling the needs of each individual customer by combining product, analytics, and underwriting capabilities with strong industry knowledge and partnerships to develop real-world solutions. Through data-driven insights and collaboration with partners, the company coacts with customers and partners to rationally manage risk so businesses and communities can build a more ambitious, confident, and sustainable future.

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