Job Description: Position: Credit Risk Analyst Reporting to: Director of Underwriting Risk and Reinsurance
Reinsurance Credit Risk Analyst - A role that combines the 'hard' with the 'smooth'.
You'll be that person who can help shape the way we think about, communicate, and set limits for reinsurance credit risk. In addition to developing robust management reporting and delivering reinsurer deep dives, you'll nurture and develop relationships in the market to ensure our decisions are led by more than company financials.
Its no secret that we cede a meaningful amount of risk to reinsurers. As such, proactive assessment of our counterparty credit exposures is of paramount importance. This risk is overseen by the Reinsurance Credit Committee (RCC) who set and review limits for individual reinsurers based on information from Ratings Agencies, bespoke analysis, market intelligence, and the experience of the committee members. As the Credit Analyst, you'll play a key part in this process. Is it for me?
Understanding and managing our credit risk exposure is at the heart of making some of our most important reinsurance decisions, so you'll relish the chance to come into the team and make this role your own.
This is by no means a trivial task. We have a complex business with multiple legal entities across many jurisdictions, multiple business units and Reinsurance coverages which will challenge even the most seasoned reinsurance expert.
But who doesn't like a challenge? What you'll be doing;
- You'll be developing different approaches for Long tailed exposures vs 'Catastrophe' exposures.
- Developing limits and measures for each of the separate carriers in the Hiscox Group, obtaining board sign off, and reporting on exposures against these limits.
- You'll also work with and advise Risk committees on issues relating to reinsurance credit risk.
- Oversee the way Reinsurance credit risk is modelled in and communicated form the capital model and aligning this to the way the risk is communicated in the RCC.
- You'll gathering market intelligence from senior executives in reinsurance broking houses and reinsurers.
- And you will assist the Reinsurance Purchase and Operations teams in Credit Control, particularly regarding late payments.
- Experience of Credit Risk Analysis within Insurance
- Strong working knowledge of financial statements and the ability to pull apart Insurer financial reporting.
- Insurance industry experience is essential as is an understanding of the motivations, trends, and history of what makes (re)insurers successful or get into difficulties.
- Natural curiosity to investigate issues and identify remediation options
- Strong communication skills, capable of working with people at all levels within and external to the business. And, the ability to explain technical concepts to non-technical audience
- Have the ability to combine "soft" influencing, persuasion with "leadership" qualities that will encourage business leaders to positively respond to questions, inquiries and requests to meet deadlines.
- Highly numerate with a finance or stem degree and/or finance related certifications related to Credit Analysis.
- Understanding of ratings agency models
If this sounds like an appealing proposition, please click the apply button or get in touch. Diversity and flexible working at Hiscox
At Hiscox we care about our people. We hire the best people for the job and we're committed to diversity and creating a truly inclusive culture, which we believe drives success. We also understand that working life doesn't always have to be 'nine to five' and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.