What are the responsibilities and job description for the CAT Modeling Analyst position at UFG?
UFG is seeking for Catastrophe Modeling Analyst to join our growing primary & reinsurance team. This individual will be preparing catastrophe modeling data and analyzing the risks based on catastrophe models such as RMS. This is a great opportunity to support both our primary & reinsurance sectors of insurance/reinsurance risks arising from perils such as hurricane, tornado/hail, earthquake, fire following earthquake, winter storm, and wildfire. The ideal candidate will support underwriters (direct and assumed businesses) and actuaries on portfolio management and pricing decisions.
Responsibilities:
- Collaborate with data engineers and underwriters in gathering the data needed for catastrophe modeling as well as improving data accuracy and completeness; organize, scrub, and prepare the data for model ready import files using valuation tools including SQL/Excel.
- Collaborate with underwriters and broker companies in gathering the data needed for catastrophe modeling for our Alternative Distribution (Reinsurance) sector.
- Support Alternative Distribution (Reinsurance) underwriting and actuarial teams by interpreting the modeling outputs and price the reinsurance contracts.
- Prepare analytical reports on these reinsurance contracts for underwriters.
- Possess the drive to engage in diverse tasks including model validation, streamlining reinsurance contract pricing workflows through automations, and developing tools to enhance the overall process.
- Analyze the risks for data quality, accuracy, and completeness.
- Run analyses using proprietary catastrophe model such as RMS; generate outputs to analyze the loss results.
- Support the underwriting and actuarial teams by interpreting the modeling outputs for growth.
- Prepare analytical reports based on the output from RMS.
- Support improvement efforts to increase consistency, efficiency, and compliance with internal standards.
- Stay up to date with the continuously changing catastrophe modeling industry and the models.
Qualifications:
Education:
- Bachelor of Science degree in Mathematics, Data Science, Statistics, Computer Science, or related field preferred
- Either a minor concentration or additional degree in Meteorology preferred
Certifications/Designations:
- Employees are expected to participate in continuing education throughout their careers
- Possess, or working towards, an ARe certification preferred
Experience:
- 3 years of catastrophe modeling experience including working with large data sets
Working Conditions:
- General office environment
- Up to 10% travel for quarterly office visits and occasional conferences
Skills & Knowledge:
- Proficiency with Excel, PowerPoint, SQL, Tableau
- Analytical, technical and problem-solving skills
- Strong verbal and written communication skills
- Able to effectively work with a sense of urgency during event responses and while assessing new and renewed business.
- Working knowledge with catastrophe modeling software such as RMS and AIR
