Capital Management Leader

5 days ago

Chicago, Illinois, United States Argo AI Full time
Job Summary

We are seeking a highly skilled Capital Management Leader to join our team at Argo Group. As a key member of our organization, you will be responsible for leading the development and implementation of our internal economic capital model, as well as providing strategic guidance on capital management and risk assessment.

Key Responsibilities
  • Lead the Development of the Internal Economic Capital Model: Own and lead the production of a capital dashboard on a quarterly basis that provides a clear view of the solvency position of the group across regulatory, rating agency, and economic models.
  • Operate and Develop the Internal Economic Capital Model: Own the operation and development of the internal economic capital model, which accurately represents the organization's risk profile.
  • Establish and Develop Model to Support Portfolio Optimization and Underwriting Strategy: Further establish and develop the model to support with portfolio optimization and underwriting strategy.
  • Lead Embedded Model Uses: Lead embedded model uses such as reinsurance analysis and optimization, capital allocation, and strategic opportunities (e.g., M&A, new classes, etc.).
  • Responsible for Calibration of Insurance Risk and External Vendor Models: Responsible for calibration of insurance risk and own view of risk on external vendor models (e.g., Economic Scenario Generator).
  • Provide Timely and Accurate Capital Metrics: Provide timely and accurate capital metrics to senior management, regulatory bodies, and rating agencies.
  • Improve Model Governance: Improve model governance, including documentation and processes.
  • Responsible for Analysis of Model Results and 1st Line Validation: Responsible for analysis of model results and 1st line validation.
  • Work Closely with CRO and ERM Function: Work closely with the Chief Risk Officer and Enterprise Risk Management function to support with risk management activities, including designing, building, and operating stress and scenario modeling tools to assist with the Own Risk and Solvency Assessment (ORSA).
  • Communicate Model Benefits and Limitations: Communicate the benefits and limitations of the economic model to underwriters and executives to drive understanding and confidence in the model outcomes.
  • Support Capital-Related Projects: Support the Chief Risk Officer with capital-related projects as they arise and provide capital management insights to strategic initiatives.
  • Collaborate with Key Stakeholders: Active collaboration and regular communication with key stakeholders and business partners across finance, actuarial, ceded, risk management, and other functions is an important part of this role.
Key Accountabilities
  • Management of End-to-End Projects: Management of end-to-end projects reporting to the Chief Risk Officer.
  • Integral Part of Model Design and Development: Integral part of the current design and future development of model components.
  • Process Development and Improvement: Ability to build processes and help shape developing projects.
  • Communication of Results and Opportunities: Communication of results and opportunities to develop model management information.
  • Enhance Use of Internal Model: Work with other group functions to enhance the use of the internal model within the organization.
  • Analysis and Communication of Solvency Position: Analysis and communication of solvency position, risk tolerances, and capital trends to internal and external stakeholders.
  • Subject Matter Expertise: Act as a Subject Matter Expert (SME) and reviewer on all aspects related to the internal capital model.
Requirements
  • Education: Bachelor's degree from an accredited college or university, preferably in Mathematics, Actuarial, Finance, or Science.
  • Qualifications: Qualified actuary.
  • Experience: 10 years+ experience required.
  • Model Development and Implementation: Experience in leading or working on all areas of an internal model and factor-based models (S&P/ BCAR/ BSCR).
  • Catastrophe Models and Investment Analysis: Knowledge of catastrophe models, investment analysis, PML calculations.
  • Accounting Standards: Understanding of different accounting standards – US GAAP, US STAT, Economic, etc., preferred.
  • Interpersonal and Stakeholder Management Skills: Strong interpersonal and stakeholder management skills.
  • Numeracy and Analytical Skills: High degree of numeracy – ability to analyze data and make sound expert judgments.
  • Project Management and Planning Skills: Ability to work with limited resources to reach successful outcomes.
  • Teamwork and Communication Skills: Motivated and an effective team player.
  • Abstract Reasoning and Organizational Skills: Excellent analytical and abstract reasoning skills and strong organizational skills.
  • Communication and Articulation Skills: Excellent communication skills and ability to articulate, to obtain buy-in from different functions.

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