Actuarial Associate - Catastrophe Modeling

Company Description

We help the world see new possibilities and inspire change for better tomorrows. Our analytic solutions bridge content, data, and analytics to help business, people, and society become stronger, more resilient, and sustainable.

Job Description

About the Role

As an actuarial associate in the Arium group, part of the Verisk Extreme Event Solutions division, you will serve as the group’s actuarial subject matter expert to support the development of the insurance industry’s leading liability catastrophe modeling solution for the global insurance and reinsurance market. The Arium models quantify the systemic and emerging liability risks that can lead to significant aggregations and clash risks across portfolios, ranging from climate change to recessions to chemical exposures and across major commercial liability lines, including commercial general liability and professional/management liability lines. Your actuarial, modeling, and (re)insurance knowledge will have a direct impact on model development and supporting this fast-growth space in the liability industry. This role is part of the Arium research and modeling team and will be based in the Verisk headquarters in Jersey City, USA.

About the Day to Day Responsibilities of the Role

• Contribute significantly to projects and lead certain projects that involve model development enhancements and innovations and embed (re)insurance actuarial expertise into the model development process.
• Act as the go-to expert for actuarial insights and approaches for commercial liability lines of business, including technical peer review of models and model components
• Collaborate closely with other business units and experts across Verisk, including other catastrophe modeling and research teams in Extreme Event Solutions and actuarial, coverage, and emerging issues research departments within Verisk Underwriting Solutions.
• Support alignment of Arium modeling methodologies with the best-in-class approaches and insurance industry expectations.
• Support Arium client services through responses to relevant client inquiries and presentations to clients, as needed, including insurers, reinsurers, and brokers.

Qualifications

• Associate of the CAS or several Casualty Actuarial Society exams passed; 5 years industry experience preferred
• Experience in pricing, reserving, and capital modeling for multiple commercial liability lines, including commercial general liability and professional lines
• Familiarity with modeling concepts and principles required; comfort with working modeling and data uncertainty
• Knowledge of Python and R strongly preferred; some experience with SQL would be a plus, as would familiarity with GitHub and Bitbucket, but not required
• Ability to work independently and as part of a team
• Good interpersonal, oral and written communication skills

#LI-MC1

Additional Information

In 2022, Verisk received Great Place to Work® Certification for our outstanding workplace culture for the sixth year in a row and second-time certification in the UK, Spain, and India. We’re also one of the 38 companies on the UK’s Best Workplaces™ list and one of 18 companies on Spain’s Best Workplaces™ list.

For over fifty years and through innovation, interpretation, and professional insight, Verisk has replaced uncertainty with precision to unlock opportunities that deliver significant and demonstrable impact. From our historic roots in risk assessment, we’ve grown to provide analytic insights that help transform industries focused on some of the world’s most critical areas. Today, the insurance industry relies on Verisk to be, and to make the world, more productive, resilient, and sustainable.

Verisk works in collaboration with our customers and at the intersection of people, data, and advanced technologies. Through proprietary platformed analytics, advanced modeling, and interpretation, we deliver immediate and sustained value to our customers and through them, to the individuals and societies they serve, with greater speed, precision, and scale.

We’re 9,000 people strong, committed to translating big data into big ideas. We help others see new possibilities and empower certainty into big decisions that impact individuals and societies. And we relentlessly and ethically pursue innovation to help move our customers, and the world, toward better tomorrows.

Everyone at Verisk—from our chief executive officer to our newest employee—is guided by The Verisk Way, to Be Remarkable, Add Value, and Innovate.
• Be Remarkable by doing something better each day in service to our customers and each other
• Add Value by delivering immediate and sustained results that drive positive outcomes
• Innovate by redefining what’s possible, embracing challenges, and