AVP, Head of Model Risk Management

Chubb is seeking a highly motivated and experienced Model Risk Manager to join our Global Enterprise Risk Management Team. The successful candidate will play a pivotal role in leading the implementation of a comprehensive model risk management framework across Chubb Group and contributing to the effective execution of the firm's strategic objectives.

Responsibilities

• Lead Chubb's model governance processes, including:
• Administration of the Model Risk Committee.
• Updates to the Model Risk Policy.
• Maintaining of model inventories, from model discovery, registration, risk tiering, to periodic attestation.
• Development and application of Key Risk Indicators for early detection and monitoring of model risk.
• Review of model risk and control allocation and evaluation of control design in accordance with risk-based governance requirements.
• Ad-hoc reviews of control execution, identifying potential issues or deviations, documenting findings, and tracking resolution.
• Advancing the risk and control assessment process around models and tools.
• Reporting model risk to senior management committees and the Board.
• Managing model risk management platform.
• Designing and implementing processes for model validation, monitoring, and performance assessment, including stress testing and backtesting.
• Reporting model validation results to relevant governance bodies.
• Staying current on Chubb's business risk profiles including non-life and life risks, industry best practices and emerging trends in modelling.
• Understanding of regulatory compliance requirements for models within the insurance industry across different jurisdictions including the US, Europe, UK, Swiss, and APAC markets.
• Lead a team of India-based technical experts in validating Chubb's capital models, including
• Review and approve models and tools for deployment based on established governance requirements.
• Develop training programs and materials to educate Chubb employees on model governance principles and practices.
• Serve as a subject matter expert on model governance, providing guidance and support across the organization.
• Build strong relationships and trust with stakeholders across all model owner, developer and user communities within Chubb.
• Participate in ad-hoc projects to support department objectives.
• Occasional international travel is required.

Qualifications

• Bachelor's degree in actuarial science, statistics, mathematics, or a related field. ACAS or FCAS (or comparable credential) preferred. Designation in Life insurance (FLMI) is a plus.
• Minimum of 5 years of experience in capital model development, deployment, and monitoring within the insurance industry.
• Proficiency in modeling tools and platforms commonly used in the insurance industry (e.g., SAS, SQL, Excel VBA, Power BI, R, Python). A high degree of comfort working with large datasets is preferred.
• In-depth business knowledge and familiarity with insurance products, operations, and business processes.
• Excellent analytical and problem-solving skills.
• Strong communication and interpersonal skills, with the ability to convey complex technical concepts clearly and concisely to diverse audiences.
• Proven ability to work independently and as part of a team, leading and motivating others while fostering collaboration.
• Excellent project management and organizational skills.
  Strong attention to detail and commitment to the highest quality standards.

The pay range for the role is $133,300 to $226,700. The specific offer will depend on an applicant's skills and other factors. This role may also be eligible to participate in a discretionary annual incentive program. Chubb offers a comprehensive benefits package, more details on which can be found on our careers website . The disclosed pay range estimate may be adjusted for the applicable geographic differential for the location in which the position is filled.

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.