LII Property Risk Manager (Exposure Management)

Description & Requirements

Role Title: LII Property Risk Manager

Division: Exposure Management

Location: London

Type: Permanent

About the Role:

This is a pivotal role within the GRS ( Global Risk Solutions) CRO organization which leads a group of catastrophe modelers who assess LII's ( Liberty International Insurance) exposure to natural peril and terrorism catastrophic loss events. This role will oversee a team of catastrophe analyst and business partners to identify and control the exposure to catastrophic loss. It will assist management to develop catastrophe control plans that address this risk through effective underwriting, allocation of capacity and loss measurement.

The role will report into the GRS Head of Property Risk Management, with a further dual reporting line into the LII CUO.

About the Department & Team:

• Risk Management exists to help people make effective risk based, disciplined decisions and do the right thing:
  • Commercial and pragmatic solutions
  • Robust oversight & challenge
  • Resilience to adverse events
  • Systemic & pre-emptive insights
  • Optimal risk-reward, and
  • Trusted business partner and adviser
• This is achieved via the development and implementation of the Risk Management Strategy that supports the GRS corporate vision, strategy and business plan.
• Risk Management also develops and embeds an effective Risk Management framework which allows the identification, assessment, mitigation, monitoring and reporting of risk and measures the management of those exposures to a level consistent with the GRS risk appetite.

LII Exposure Management:

The LII Exposure Management team is responsible for the assessment and management of LII's Underwriting Risk. This includes all natural and non-natural catastrophe risk.

Key Responsibilities:

• Lead a high performing catastrophe team through effective selection, development and performance management; drives clarity of business strategies and operating objectives; ensures strategies align within and across functions.
• Ensure effective business partnering with relevant underwriting teams and offices within LII, up to and including the LII CUO, to assist underwriting teams to optimize their portfolios.
• Prepare monthly analysis of current gross and net aggregate positions for senior management review.
• Oversee the day-to-day management of data collection of catastrophe information, ensuring data integrity, accuracy and timeliness of information within all catastrophe management systems.
• Advise on tools, capabilities and emerging best market practice to enhance existing processes and increase EM's analytical capabilities.
• Manage, analyze and interpret catastrophe exposures relating to lines of business and other applicable risks; scope of position will involve worldwide exposures.
• Provide training and development support to the wider EM team and business as needed to ensure the successful integration of new processes and systems.
• Perform ad hoc assessment of potential exposure for portfolio or individual account scenarios as they arise.
• Coordinate catastrophe exposure information for regulatory purposes.
• Consider changes to the policy terms and evolving perils of applicable classes, to propose any proportionate additions to the data collection requirements to enable effective ongoing exposure management.
• Monitor, evaluate and enhance catastrophe rating methodologies within the pricing tools (in conjunction with underwriting and actuarial departments).
• Assist the GRS Head of Property Risk Management by providing necessary metrics to perform exposure segmentation reviews, historical trend analysis and identify potential risk concentrations which may impact GRS risk tolerances and earnings volatility.
• Assist GRS Head of Property Risk Management by advising and providing exposure information during the business planning process, for both relevant legal entities and at overall LII level.
• Compile and present exposure information and results to reinsurers and brokers as required.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviors as set out in the Conduct Risk Policy, as they relate to your role, is core to LII's commitment to our Liberty Values, placing customers at the center of our business and behaving with integrity. LII expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviors at all times.

Skills and Experience:

• Consultancy and/or catastrophe modelling industries.
• In relation to exposure management, advanced knowledge of statistics, insurance concepts and catastrophe modeling tools, systems and platforms.
• Proven ability to lead a business partnership, including building effective relationships and experience of interacting with executive/senior management
• Leadership and management experience
• Problem-solving capability
• Demonstrated ability to get work done through project teams, direct reports and peers