Senior P&C Insurance & Model Risk Specialist 80-100%

The job holder is a senior specialist within the Commercial Insurance (CI) Risk team in Group Risk Management, who works closely with global P&C insurance functions and Capital Modelling teams, carrying out 2nd line reviews of insurance and model risk and independent model validations, and providing risk-based insights to senior stakeholders.

What you will do

As a Senior P&C Insurance & Model Risk Specialist your main responsibilities will involve:

• Act as independent Risk adviser to P&C insurance functions, providing Risk challenge and review; this includes engaging in and providing independent challenge in insurance functions’ decision-making processes, as well as the review and challenge of governance, assurance activities and model validation
• Oversee development, maintenance and embedding of effective Risk Governance relating to insurance risk, model risk and validation
• Lead and deliver independent top-down analysis and assessment of insurance risks, including deep dive analyses, review of methodology and approaches, and producing reports and documentation
• Lead and deliver independent validations of P&C related models including specifying, implementing and executing validation tests, identifying, quantifying and assessing weaknesses and limitations of models, and producing validation reports and documentation
• Provide professional support and advice to senior management including risk insights and implications for the business
• Contribute to the annual insurance risk review and model validation plan; Provide model knowledge, insights and advise on prioritization of model developments and change processes
• Support team members and perform peer reviews of insurance risk reviews and model validation activities
• Participate in group-wide projects to develop and enhance Zurich’s management of Insurance Risks and Model Risks by providing subject matter expertise or leading a project work streams
• Communicate and engage with regulators, external auditors, Group experts, the Group CRO and the relevant committees on P&C insurance and model risk topics
• Mentor and develop other professionals within Risk Management, providing input to or leading global training and people development initiatives
• Primary work location is Zürich. The travel requirement is up to 5%

What you bring

As a Senior P&C Insurance & Model Risk Specialist your skills and qualifications will include:

• Bachelor’s or master’s degree in Mathematics, Statistics, Finance or equivalent
• Fully (or near) qualified actuary in a recognized actuarial body
• 5+ years of relevant work experience
• Strong business acumen and knowledge of the insurance industry coupled with experience gained in the P&C insurance sector; Experience in multiple functions (pricing, reserving, capital management, accumulation management) is preferred; Experience in Commercial Insurance is an advantage
• Advanced understanding and experience of P&C actuarial reserving, pricing, accumulation modelling and capital modelling concepts (including SST/SII) and risk and statistical methodologies
• Advanced data literacy, analytics and visualization skills; Understanding of AI modelling techniques is an advantage
• Sound understanding of both risks embedded in insurance products and risks in models, related processes and underlying data
• Strong problem-solving, decision-making and judgment skills with the ability to find practical solutions in complex, multi-interest settings by showing adaptability and taking personal ownership of delivery
• Strong communication, influencing, advisory and negotiating skills, with strong relationship-building capabilities with a broad range of internal clients, including senior management
• Strong actuarial software and/or programming skills are an advantage
• Display behaviors that demonstrate commitment to Zurich values
• Strong focus on execution and delivery; Proactive, driven, action and outcome oriented
• Experience of working with different national and business cultures
• Fluent English, both oral and written

Additional Information

We look forward to receiving your online application.

At our Quai Zurich Campus , our culture and our people are what set us apart. We thrive on face-to-face interactions that drive collaboration, nurture our unique culture, and amplify our success. Enjoy the best of both worlds with the flexibility to work up to two days remotely per week within Switzerland, allowing you to balance personal commitments while excelling in your career. Please discuss your flexibility needs with us during your interview.

Information for recruitment agencies

Zurich does not accept any applications from recruitment agencies for this position. We refuse any responsibility for unsolicited applications as well as any associated fees.

Why Zurich

At Zurich, we like to think outside the box and challenge the status quo. We take an optimistic approach by focusing on the positives and constantly asking What can go right?

We are an equal opportunity employer who knows that each employee is unique - that’s what makes our team so great!
Join us as we constantly explore new ways to protect our customers and the planet .

• Location(s): CH - Zürich
• Remote working: Hybrid
• Schedule: Full Time
• Recruiter name: Grace Cunningham