Job Description: Group Head of Property Exposure Management
A senior role reporting to the Group Director of Underwriting Risk and Reinsurance
As our Group Head of Property Exposure Management you'll beresponsible for leading our efforts in property catastrophe exposure management and Natural Catastrophe risk. You'll be in charge of a team that is responsible for managing exposures to non-natural Property catastrophe risks such as terrorism or fire accumulation management. Plus, you'll manage our broader Exposure Management regulatory deliverables with Lloyds, the PRA and BMA.
The team you'll have consists of a Risk Manager, two Senior Analysts, two Risk Analysts, a Lead Researcher and Research Analyst. It is part of a wider Underwriting Risk and Reinsurance function led by the Director of Underwriting Risk & Reinsurance, reporting to the Group CUO.
Your goals will be to:
Ensure catastrophe exposures are understood, measured, and communicated and are in line with internal and external appetites - no surprises.
Own, manage, and embed the Hiscox View of Risk for Natural Catastrophe risk
Ensure best practice in Catastrophe Risk Analysis and compliance with regulatory requirements
Ensure Hiscox is taking the right sized bet in the right places
Meet internal committee, regulatory, and rating agency reporting requirements
Support reinsurance purchase
Provide inputs to other internal teams - Risk/Capital
No surprises: Ensures that we understand where our risk is, where it is measured well/poorly and knows what to do about it.
Exposure Management Framework: Drive agenda for and ensure delivery of the Group's Catastrophe exposure management framework.
Thought leadership on most appropriate metrics for Nat-Cat and War/Terror. Ensure that the metrics and numbers are appropriate.
Group cat bets & Hiscox View of Risk ("HVoR"): Challenges group appetites and Business Unit strategies. Drive the research agenda and ensure best practice on Hiscox View of Risk (HVoR) and implement this view in our exposure management systems and reporting.
Exposure Management Standards: Leadership on group wide EM standards. Main contact for Risk team and regulators.
Tech strategy: Thought leadership / medium term strategy on tech direction of the Group exposure management team and broader Cat team
Cat risk in the Capital models: Responsibility for overall way in which natural catastrophe & War/Terror risk is represented in the internal capital & rating agency models. Collaborate closely with group head of underwriting risk analysis, capital team and IT development team
Event Response: Lead communications with Executives (ExCo), numbers challenge & review
Cat deep dives: Prioritise which deep dives happen, taking into account Business Unit and Board needs. Set standards / expectations and oversee results.
Cat research: work with business units and Exposure Management Groups to prioritise the research work. Provide perspective on group / capital / regulatory priorities
Expert groups: Contribute to internal expert groups and committees and market bodies such as LMA EMWG
Model licences: Own the relationshipwith the model vendors - which models do we license and why, how do we assess new models, manage licensing and costing.
Cat managers meetings: Chair Cat Managers meeting - define annual schedule, papers & drive the agenda for Catastrophe Exposure Management Group
Good understanding of how risk is described well/badly by the tools we have and complexities of measuring natural catastrophe risk in a capital model.
Can own the regulatory oversight of exposure management and ensure that all deliverables are met to the appropriate standard.
Experience planning and managing delivery in a complex environment.
Proven experience of technical process improvements
Senior stakeholder management - understands the key metrics used to run our business (and can suggest a few more.) Is able to communicate the uncertainty in risk measures in a way that drives decision making in our largest bets.
Strong academic background in an appropriate field.
Useful experience that is "nice to have"
Experience of outwards RI purchase and capital modelling highly desirable.
Experience with technical tools such as SQL, R, Python, Alteryx, VBA or Tableau
Strategic IT / technology implementation in exposure management setting
Experience/knowledge of rating agency and regulatory requirements.
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
#LI-AS1 If you would like to know more about the role, or you are having any difficulties with the application process please send your CV and the four-digit job ref number to [email protected]
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