Associate Director, Risk Management - Markel Insurance; US & Bermuda

Job Overview

The primary function of this role is to coordinate and perform risk assessments, risk reporting, and the review and challenge of catastrophe models across U.S. and Bermuda operations. The Associate Director, Risk will serve as a senior member of the risk‑management function, responsible for leading risk assessment and scenario development, supporting the review and challenge of business plans, maintaining the risk appetite framework, and partnering cross‑functionally with underwriting and exposure‑management teams.

This position reports to the Chief Risk Officer, U.S. & Bermuda, and collaborates regularly with the Office of the Chief Underwriting Officer, actuarial, finance, and other key stakeholders.

• Risk Assessments and Scenario Analysis – Lead the development of Probable Maximum Loss (PML) estimates using internal exposure data, catastrophe models, and actuarial analysis; design, execute, and refine risk scenarios to evaluate adverse events and support strategic decision‑making at the enterprise level.
• Business Plan Review and Challenge – Support the review and challenge of business unit plans from a risk perspective, evaluating alignment with risk appetite, capital adequacy, and strategic objectives; contribute to a robust, issues‑based annual business planning process by providing independent risk assessments and facilitating challenge sessions with business leadership.
• Risk Appetite and Limits – Develop, maintain, and monitor the company’s risk appetite framework, formulate risk appetite statements, risk tolerances, and risk limits across material risk categories, and ensure integration into underwriting, investment, and strategic planning processes.
• Cross‑Functional Partnership – Partner closely with Underwriting Risk, Catastrophe and Exposure Management, and other functions within the Office of the Chief Underwriting Officer to identify, assess, and mitigate insurance risks across Markel’s P&C portfolio.
• Innovation and Data Strategy – Leverage and support Markel’s data and analytics strategy; identify opportunities to apply advanced analytics and automation to improve the efficiency and effectiveness of risk processes.
• Regulatory Reporting – Manage and support key regulatory deliverables, including the Own Risk and Solvency Assessment (ORSA) report, Commercial Insurer’s Solvency Self‑Assessment (CISSA), financial examinations, and supervisory processes, ensuring accuracy, timeliness, and alignment with the company’s ERM framework.
• Key Risk Indicators and Dashboards – Develop and maintain a suite of Key Risk Indicators (KRIs) and executive‑level risk dashboards that provide senior management and the Board with transparent, actionable insight into the company’s risk profile; continuously refine reporting to ensure relevance and clarity.
• Risk Exposure Aggregation and Appetite Monitoring – Oversee risk exposure aggregation processes across insurance, market, credit, and operational risk categories; monitor risk appetite metrics on an ongoing basis and expedite escalation of breaches or emerging concerns to senior leadership.

• Education – Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related quantitative field is required; a master’s degree or MBA is preferred.
• Professional Credentials – One or more of the following designations is strongly preferred:
  Fellow of the Casualty Actuarial Society (FCAS), Chartered Property & Casualty Underwriter (CPCU), Financial Risk Manager (FRM), Associate of the Casualty Actuarial Society (ACAS), or an equivalent professional risk‑management certification.
• Experience – Minimum of 8–12 years of progressive experience in enterprise risk management, actuarial, or insurance risk functions within the property and casualty insurance or reinsurance industry; direct experience with specialty or surplus lines products is highly valued.
• Technical Skills – Demonstrated proficiency in capital modeling, catastrophe modeling platforms, and advanced data analysis using Excel, SQL, Python, or R; experience with business intelligence and visualization tools (e.g., Tableau or…