Senior Property & Casualty Insurance & Model Risk Expert 80-100%

The job holder is a senior expert within the Commercial Insurance (CI) Risk team in Group Risk Management, who works closely with global P&C insurance functions and Capital Modelling teams, carrying out 2nd line reviews of insurance and model risk and independent model validations, and providing risk-based insights to senior stakeholders. The role has responsibility for governance, oversight and review of insurance and model risk, and provides strategic and operational leadership, including the professional development of technical staff.

What you will do

As a Senior P&C Insurance & Model Risk Expert your main responsibilities will involve:

• Act as independent Risk adviser to P&C insurance functions, providing Risk challenge and review; this includes engaging in and providing independent challenge in insurance functions’ decision making processes, as well as the review and challenge of governance, assurance activities and model validation

• Oversee development, maintenance and embedding of effective Risk Governance relating to insurance risk, model risk and validation

• Lead and deliver independent top-down analysis and assessment of insurance risks (including specific targeted deep dive analyses) including review of methodology and approaches, and producing reports and documentation

• Lead, deliver and oversee independent validations of P&C related models including specifying, implementing and executing validation tests, identifying, quantifying and assessing weaknesses and limitations of models, and producing validation reports and documentation

• Provide professional support and advice to senior management including risk insights and implications for the business

• Provide P&C input into the annual insurance risk review and model validation plan; Provide model knowledge and insights and advise on prioritization of model developments and change processes

• Provide guidance to other team members and perform peer reviews of insurance risk reviews and model validation activities performed by other team members or delegated activities

• Participate in group-wide projects for developing and enhancing the way Zurich manages its Insurance Risks and Model Risks by providing subject matter expertise or leading a project work stream

• Communicate and engage with regulators, external auditors, Group experts, the Group CRO and the relevant Boards on P&C insurance and model risk topics

• Mentor and develop other professionals within Risk Management, providing input to or leading global training and people development initiatives

• Primary work location is Zürich. The travel requirement is up to 5%

What you bring

As a Senior P&C Insurance & Model Risk Expert your skills and qualifications will include:

• Bachelor’s or master’s degree in Mathematics/Statistics/Finance (or equivalent)

• Fully qualified actuary in a recognized actuarial body

• 10 or more years of relevant work experience

• Advanced business acumen and knowledge of the insurance industry coupled with experience gained in the P&C insurance sector and in multiple functions (pricing, reserving, capital management); Experience in Commercial Insurance

• Advanced understanding and experience of P&C actuarial reserving, pricing and capital modelling concepts (including SST/SII) and risk and statistical methodologies

• Advanced data literacy, analytics and visualization skills; Understanding of AI modelling techniques is an advantage

• Advanced Risk Management Expertise including understanding of both risks embedded in insurance products and risks in models, related processes and underlying data; Expert Quantitative Risk Expertise

• Advanced problem-solving, decision-making and judgment skills with the ability to find practical solutions in complex, multi-interest settings by showing adaptability and taking personal ownership of delivery

• Excellent communication, influencing, advisory and negotiating skills and relationship building capabilities with a broad range of internal clients, including senior management

• Strong actuarial software and/or programming skills are an advantage

• Role modelling of behaviors that demonstrate commitment to Zurich values

• Strong focus on execution and delivery; Proactive, driven, action and outcome oriented

• Experience of working with different national and business cultures

• Fluent English, both oral and written

Additional Information

We look forward to receiving your online application.

Zurich wants to attract the best talent and we acknowledge that talents might not always be available full-time. At Zurich we will consider requests for flexible working. Many of our employees work flexibly in a variety of ways. Please talk to us during the interview about the flexibility you may need.

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Information for recruitment agencies

Zurich does not accept any applications from recruitment agencies for this position. We refuse any responsibility for unsolicited applications as well as any associated fees.

Why Zurich

At Zurich, we like to think outside the box and challenge the status quo. We take an optimistic approach by focusing on the positives and constantly asking What can go right?

We are an equal opportunity employer who knows that each employee is unique - that’s what makes our team so great!
Join us as we constantly explore new ways to protect our customers and the planet.

• Location(s): CH - Zürich
• Remote working: Hybrid
• Schedule: Full Time
• Recruiter name: Grace Cunningham