Underwriting Risk Modeler or Capital Modeler- Commercial Lines

Liberty Mutual's Global Risk Solutions (GRS) Capital & Analytics group is hiring an Underwriting Risk Modeler or Capital Modeler for its Insurance Risk Parameterization & Analytics team. You would join a small group of modelers who design, build, and validate underwriting risk models for the GRS organization. This is for someone with strong analytical skills who likes developing statistical models, working with large data sets, and digging into what drives line-of-business dynamics.

Global Risk Solutions provides commercial, specialty insurance, and reinsurance products. Product lines include workers' compensation, commercial multi-peril, surety bonds, crisis management, marine, terrorism, management liability, cyber liability, and energy.

What you will do

• Parameterize underwriting risk, excluding natural catastrophe risk
• Build and maintain UW risk models and output exhibits
• Develop new solutions and improvements for the statistical models and processes used to calculate these inputs
• Keep clear and concise documentation of methods and activities
• Implement timely, practical solutions to complex problems
• Validate model parameterization and model function
• Work with Underwriting and Actuarial to understand the business and guide development of Risk Analytics tools that reflect it
• Communicate processes and parameterization results to stakeholders outside the team

What they are looking for

• Bachelor's degree or higher in Mathematics, Actuarial Science, Statistics, Finance, Economics, or a similar field
• Minimum 5-7 years of relevant experience
• Very strong analytical skills and a solid understanding of core casualty actuarial methods, techniques, and standards
• Expert in MS Excel and experience coding
• Experience with Visual Basic for Applications (VBA) and Capital modeling software, R, and Python preferred
• Experience with stochastic financial modeling and forecasting preferred
• Experience parameterizing reserve risk and UW risk preferred
• Comfort solving new problems and generating ideas to improve existing processes
• Experience communicating analysis and technical concepts

The qualifications section also lists competencies typically acquired through a Bachelor's degree in a quantitative field, and an advanced degree (MBA) and/or professional qualification in risk management with 8 to 10 years of relevant experience as preferred. Excellent quantitative analysis and modeling skills are required, along with significant experience in an analytical capacity such as financial analysis, product management, actuarial, or underwriting. Working knowledge of ERM-related regulatory frameworks (Solvency II, NAIC ORSA, ComFrame) is a plus. A very strong understanding of the risk characteristics of the insurance industry is required, as is an excellent understanding of basic financial concepts and metrics, including financial statement analysis.

Pay and benefits

The typical starting salary range is determined by factors including skills, experience, education, certifications, and location. The full salary range reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop in the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

Liberty Mutual says its goal is a workplace where everyone feels valued, supported, and can thrive. It points to benefits, workplace flexibility, professional development opportunities, and Employee Resource Groups. The company states it is an equal opportunity employer and will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information, or on any basis prohibited by federal, state, or local law. Fair Chance Notices are listed for California, Los Angeles Incorporated, Los Angeles Unincorporated, Philadelphia, and San Francisco.