Senior CAT Risk Analyst - Natural Resources & Construction - Allianz - Toronto

Job description

We are looking for a Senior CAT Risk Analyst to help our underwriters with transactions, translate and understand complex CAT models, client facing, accumulation steering for our Natural Resources & Construction line of business. This is a hybrid position that requires some in-office working days based in our Toronto, Ontario office.

Your Team  

As industrial specialists, Allianz Commercial has a long-standing tradition of supporting the natural resources & construction industry. We are committed to best serve our partners and clients by offering customized solutions from initial construction through to the operational phase.

Our risk consulting, claims and underwriting teams have many years of practical experience of leading the largest engineering risks and construction projects across the globe, covering a wide range of engineering classes, including oil and gas, power and utilities, heavy industries, transportation systems and heavy civil engineering projects. With dedicated energy experts serving both the onshore and offshore oil and gas industries, AzC can also provide flexible and tailored solutions to the most demanding energy insurance challenges.

The Impact You Will Have  

Reporting to the Global Head of Construction, this position will identify and quantify major accumulation risks (modelled and non-modelled nat cat risks) to assist in the establishment of the appropriate risk mitigation and control mechanisms. The Senior Analyst role requires application of solid catastrophe modelling techniques, principles and understanding to meet team objectives and the ability to guide others in these activities. The Senior Analyst will work closely with the Product Leaders in the Region to enhance the Nat Cat Underwriting Strategy and Controls and has responsibility to develop tools which aid the Underwriting process so that Underwriters can identify the exposure for the individual risk and assess how a risk contributes to the overall portfolio and capacity steering, incl. risk visualization. Ensure tools tie in with the Authority grid and Functional Rule to support adherence. Close cooperation with the AzC Nat Cat Management team and CFO risk management to ensure alignment with the overall Nat Cat and accumulation control strategy. Support pricing and model development to ensure risks and values are appropriately reflected.

Some of your specific responsibilities could include:  

Develop Nat Cat Underwriting tools and reports specific to the lob to enable portfolio steering and to support the Underwriting process. Run Catastrophe loss modelling reports and prepare regular and ad-hoc data extracts and reports for the monitoring of AzC global loss potential - including portfolio analyses, CAT limit monitoring (AZ Group and AzC internal limits), supporting global business steering and providing input to ensure adequate Reinsurance protection. Cooperate closely with the Product Leaders and Regional Underwriting specialists. Support the definition of the risk appetite and capacity steering.

For ad-hoc data and reporting as well as project related tasks: Ability to define scope, agree on timeframes and execute deliverables with internal and external clients with minimal additional guidance. Ability to lead / mentor others in global loss modelling activities and related analyses including use of in-depth knowledge of model methodology and function to explain, validate modelled loss output.

Collaboration with the Natural Resources and Construction community and other relevant functions (Actuarial, Risk Management, Reinsurance, Nat Cat Capacity Steering Desk - ARC, Claims, etc.) to support business steering and portfolio management and Data Quality improvements with minimal guidance.

Provide on the spot consultancy and translate or explain CAT Modeling results and reports to Underwriters, Communication and explanation of portfolio impact. Evaluate and make recommendations to ensure Property specific requirements and exposures are most appropriately reflected and cater for the special nature of Property. Training & education of the Natural Resources & Construction Underwriting community with minimal guidance.

Drive innovation and change through managing the evaluation process relating to modelling upgrades as well as developing and enhancing lob specific tools. All upgrade and change activities include technical and portfolio impact analyses and complete documentations.

What You’ll Bring to the Role –  

A minimum 5 years’ professional insurance and/or reinsurance experience. Understanding of underwriting practice for Energy and Construction business on a global basis. Project Management experience.

With knowledge of power generation, mining, oil & gas, and construction lines of business.

A bachelor’s degree preferably in Geosciences, Engineering or Mathematics.

Technical Skills: Catastrophe Modeling Software (RMS, AIR, EQECAT). GIS (Geographical Information Systems) applications. PC software such as Microsoft Excel, Access and SQL.

Professional communication, technical depth and ability to communicate with required levels / functions internally and externally in a global environment. Ability to deliver results, develop talent and performance and drive innovation and change. Lead oneself and others in-line with agreed organizational strategic orientation.

The annualized base pay range for this role is $95,359 to $148,418. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by several factors, including the scope, complexity and location of the role, the skills, education, training, credentials, and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

Offers “Allianz”

Job description