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Capital Modeling Director
CNA Financial Corporation
Chicago, IL, United States
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Description
Job Summary
This is an exciting opportunity to be part of an Economic Capital Modeling team within an Enterprise Risk Management organization that is rapidly evolving and focused on continually increasing its use of advanced risk analytics.
The successful candidate will be responsible for leading the building and validating of group-level risk models that quantify risk-adjusted capital, including underwriting, reserving and reinsurance credit. They will effectively collaborate with subject matter experts across the organization, including a dedicated U.K.-based capital team, to deliver timely high quality results and metrics to Enterprise Risk team members in order to inform risk-based business decisions and strategy. They will be involved in analyzing the risk-adjusted capital impact of reinsurance and other strategic activities, perform enterprise stress testing as part of Own Risk and Solvency Assessment analysis, work with rating agency capital models, and participate in the ongoing development, implementation and enhancement of various ERM processes related to risk-adjusted capital.
The ideal candidate will be highly collaborative with strong project management skills, be a rapid learner, and able to adapt to changing priorities to respond to changing goals. Experience in capital modeling and familiarity with related industry tools is preferred.
Recommended credentials include ACAS/FCAS, MS/MBA/PhD, or other advanced quantitative credentials.
Essential Duties and Responsibilities
Performs a combination of duties in accordance with divisional guidelines:
1. Implements strategic objectives with substantial impact on the P&C risk modeling function.
2. Provides the analytical and technical leadership to support staff in the design, development and implementation of P&C risk models and related metrics and tools to improve the company’s ability to accurately assess volatility and establish competitive advantage.
3. Partners closely with the newly expanded Enterprise Risk function, providing consultation and recommendations on the impact of business and strategy decisions to risk-adjusted capital.
4. Collaborates effectively with Actuarial, Accounting, Finance and other internal departments to establish a cycle of feedback and collaboration to continuously improve models and their impact on business decisions.
5. Presents model results including validation and documentation, to Group and International CROs as well as Enterprise Risk colleagues and makes recommendations on future updates.
6. Identifies and recommends solutions for inconsistencies or inadequacies that will facilitate more effective modeling and analytics.
7. Fosters innovation and empowers others to take calculated risks and continuously improve skill, efficiency and quality of work.
8. Remains current on issues and regulations, industry activity and trends. May represent the company in industry trade groups.
9. Leads, directs and has accountability for staff in area of responsibility with an emphasis on talent development and succession planning in accordance with corporate strategic direction.
Other duties as assigned.
Reporting Relationship
Typically AVP and above
Skills, Knowledge & Competencies
1. Strong technical knowledge of data modeling (e.g., Enterprise Risk Modeling (catastrophe, reinsurance, capital management), actuarial predictive modeling, etc.) and working knowledge in other related fields; in depth knowledge of P&C risks, including underwriting, reserving and reinsurance
2. Ability to effectively collaborate with Enterprise Risk team members and all levels of CNA’s internal and external business partners within scope of responsibility, team and/or matrix environment.
3. Leadership and management skills demonstrating integrity and professionalism.
4. Strong communication and influencing skills with the ability to develop and maintain collaborative relationships internally and externally.
5. Ability to proactively anticipate issues and drive initiatives that achieve results
6. Change agent that can identify opportunities for process improvement and execute on them
7. Ability to operate effectively in a matrix organization and work well under pressure and tight deadlines
8. Knowledge and expertise with capital modeling software, Microsoft Office Suite and other business-related software.
9. Strong project management discipline and approach
10. High Energy level and strong sense of urgency
Education, experience, and certifications
1. Bachelor’s degree with Master’s preferred in accounting or finance or a related discipline, or equivalent.
2. Typically a minimum of seven to ten years of related actuarial and/or capital modeling experience, with some management experience.
3. Experience with project management, data management, and coordination of IT initiatives is required.
4. Applicable certifications required e.g. ACAS/FCAS, MS/MBA/PhD, or other advanced quantitative credentials.