Associate I – Catastrophe Risk Management – Marsh McLennan

Job Description

Guy Carpenter & Company, LLC is seeking candidates for the following position based in the New York, NY office (Remote work may be permitted within a commutable distance from the work site):

Associate I – Catastrophe Risk Management

We will count on you to:

Assist catastrophe reinsurance underwriting activity with quantitative analysis on construction projects under the guidance of senior project team members to evaluate modeling loss results, calculate risk exposure and potential loss that may occur due to natural and man-made catastrophes. Conduct research and collected scientific datasets pertaining to natural hazards risks, including earthquakes, tropical cyclones, and floods to support catastrophe reinsurance underwriting. Process raw data into digestible and compatible formats. Develop critical understanding of risk modelling methodologies to inform reinsurance underwriting activity. Design and implement methodologies for evaluating catastrophe risk models. Pursue and maintain relationships with third party scientific researchers. Stay abreast of research updates in the field. Serve as co-author of scientific papers. Draft and review reinsurance contracts, considering the perils of earthquake, hurricane, and wildfire. Gather, organize, and review raw exposure data for accuracy and validity, and to identify abnormalities, including a negative premium, abnormal construction types, and deductible overages. Collect data of interest to property underwriting and incorporate into spatial visualizations in client-facing tools as well as implementing data into individual account underwriting and profitability analytics. Synthesize risk exposure data and analyze risk using commercial and risk models. Collect, validate, and analyze catastrophe exposure and hazard data from clients to forecast losses using both commercial catastrophe models as well as scientific judgement and methods developed internally, and make appropriate recommendations. Collect data on historical events to provide brokers as-if recovery scenarios for various proposed reinsurance alternatives. Undertake quantitative analysis projects. Analyze and interpret changes in exposure and the associated impact of catastrophe model results using CAT modeling tools. Develop algorithms for the optimal design of parametric solutions designed to reduce the protection gap in risk prone areas, (earthquake, hurricane, and wildfire.) Analyze the distribution of results and relevant risk measures change due to various proposed reinsurance alternatives. Monitor and analyze organization product lines and industry conditions to identify significant considerations that insurers should address in designing reinsurance programs. Assess performance of alternative parametric structures to provide brokers and clients a better understanding of different available alternatives. Serve as partner to clients for understanding, quantifying, visualizing, and managing risk. Liaise with brokers to better understand clients’ needs/goals. Partner with team specialists in portfolio management to deliver underwriting probability analyses and portfolio growth analytics suited to a client’s underwriting and portfolio objectives. Onboard and train new colleagues and interns. Lead and/or support the interview process for new members and their training to achieve their efficiency in designing all parametric solutions as pertinent. Inform clients of potential loss estimates from given events as well as monetary recovery resulting from potential triggering of parametric insurance. Communicate technical solutions internally/externally. Prepare summaries, presentations, and reports for complex client projects to summarize potential risks and loss results for the client. Research and summarize industry publications and scientific papers of specific or regional perils to provide additional sources of information used for analyses and client reports and to build personal knowledge of perils. Conduct research tasks on the optimal design of parametric solutions to advance the development of state-of-the-art insurance solutions for our clients. Liaise and collaborate with scientific and academic research centers to advance the development of state-of-the-art parametric solutions.

What you need to have:

Must have Bachelor’s degree or foreign equivalent in Civil or Structural Engineering, or a related field plus three (3) years of experience in the position offered, as an Analyst II – Catastrophe Risk Management, Structural Engineering Graduate Research and Teaching Assistant, or a related position.

Special Requirements: Must have three (3) years of experience with: Leveraging structural engineering skills to understand the vulnerability module of catastrophe models; Leveraging hazard analysis skills in the area of seismology to understand the hazard module of catastrophe models. Preparing peer-reviewed scientific papers/publications about technical and/or research topics in the fields of Science, Technology, Engineering, and/or Math; Presenting technical concepts to internal and external audiences; Collecting, organizing, analyzing and interpreting processed and raw data from multiple sources; Identifying limitations and shortcomings of current practices, and proposing, testing and validating novel ideas, concepts, methodologies and formulations; Handling large amount of processed and raw data via database software to create, edit, and maintain database files and records; Processing ideas, concepts, solutions and transforming them into instructions, algorithms and codes, using programming platforms and languages, such as MATLAB, Python, Fortran, and R; Establishing, coordinating and executing a training protocol to bring trainee(s) to an agreed standard of proficiency, ability and competence by practice and instruction; Providing scientific and technical feedback on articles, papers, presentations and publications, suggesting improvements, changes, edits, and making recommendation about whether to accept, reject, or revise the work object of review; and Summarizing results, findings, and processes to promote and support collaboration and content sharing. Travel reqt: 15% national and international travel is required to various and unanticipated company and client sites.

Guy Carpenter & Company, LLC (“Guy Carpenter”) is the world’s leading risk and reinsurance specialist and a member of Marsh & McLennan Companies. With over 50 offices worldwide, Guy Carpenter creates and executes reinsurance solutions and delivers capital market solutions for clients across the globe. The firm’s full breadth of services includes line of business expertise in Agriculture; Aviation; Casualty Clash; Construction and Engineering; Excess and Umbrella; Life, Accident and Health; Marine and Energy; Medical Professional Liability; Political Risk and Trade Credit; Professional Liability; Property; Retrocessional Reinsurance; Surety; Terrorism and Workers Compensation. GCFac® is Guy Carpenter’s dedicated global facultative reinsurance unit that provides placement strategies, timely market access and centralized management of facultative reinsurance solutions. In addition, GC Analytics utilizes industry-leading quantitative skills and modeling tools that optimize the reinsurance decision-making process and help make the firm’s clients more successful. Guy Carpenter’s website address is www.guycarp.com.

Guy Carpenter is a wholly owned subsidiary of Marsh & McLennan Companies, a global professional services firm with approximately 85,000 employees worldwide and annual revenues exceeding $20 billion. Marsh & McLennan Companies’ website address. www.marshmclennan.com.

The applicable base salary range for this role is $131,248 to $152,900 per year.