Cyber & Liability Catastrophe Modeller

General

Job Title:

Cyber and Liability Catastrophe Modeller Division:
Exposure Management – Underwriting

Reports To:

As per Beazley’s organisational chart

Key Relationships:
Exposure Management team, Cyber Underwriting teams, Specialty Underwriting teams, Capital Modelling team, Ceded Reinsurance team, Risk Management teams, Data teams, Governance Committees, Third-parties (e.g. modelling vendors, reinsurance brokers)

Job Summary:

This role is within the Exposure Management team dedicated to catastrophe risk management for Beazley’s Cyber Risks (CR) and Speciality Risks (SR) divisions. The role is responsible for the development, validation, maintenance and application of both internal modelling methodologies and third-party vendor models for cyber and liability catastrophe risk, ensuring outputs are robust, fit for purpose, and aligned to business requirements

Key Responsibilities (including but not limited to):
Cyber and Liability Modelling & Analytics:

Responsible for interpretation and execution of catastrophe modelling across internal and external scenarios (including third-party models), overseeing Analysts where appropriate. Support the execution of modelling and associated responses for cyber and liability regulatory reporting, including the Lloyd’s Realistic Disaster Scenarios (RDS).Responsible for running internal probabilistic models, under guidance from the Capital team. Provide portfolio commentary and insights, including presenting modelling results and catastrophe risk papers to governance committees.

Support the validation and challenge of third-party models and internal scenarios. Assess model assumptions, limitations, uncertainty and sensitivity, and explain their impact on results. Benchmark model outputs, using internal and external comparisons. Provide technical expertise in modelling complex (re) insurance structures, developing appropriate methodologies to represent exposures and reinsurance terms. This includes consortia, delegated authority, facility, and programme business as well as reinsurance and alternative risk transfer arrangements, including Cat Bonds / ILS and other bespoke structures.

Maintain clear documentation of methodologies, assumptions, judgements and model changes.

Portfolio Management & Reporting:

Support collation of cyber and liability portfolios for monthly roll-up processes and monitoring of risk appetites. For example, monitoring portfolio aggregations and trends, and identifying material changes in exposure profile, data quality or modelled loss. Strategic Engagement & View of Catastrophe Risk:

Involved in strategic discussions on catastrophe modelling methods, including engagement with transformation projects and overall team strategy.

Keep abreast of industry good practice, market insights and regulatory expectations on catastrophe management, including Lloyd's Principles.

Engage with external stakeholders, including brokers, vendors, Lloyd's and other regulators on catastrophe modelling developments and expectations.

Assist with ad-hoc research, including emerging threat analysis, vendor model changes and industry cyber and liability events.

Operational Support & Process Management:

Provide insights to Underwriters, Capital Modelling, Ceded Reinsurance, Risk teams and governance committees in a clear and digestible format.

Provide cyber and liability catastrophe output and analytical support for underwriting decisions.

Provide ad-hoc event response support.

Develop, maintain and own documentation, files and controls on cyber and liability modelling processes, tools and governance.

Identify and execute process and control improvements, including exposure and results data.

Contribute to third-party model system upgrades, including user acceptance testing…