VP & Data Scientist Catastrophe Risk Management

Employer
Travelers Insurance
Location
Hartford, Connecticut
Salary
Not Specified
Closing date
Apr 5, 2024

View more

Category
Actuary, Executive / Management
Job Type
Not Specified
Career Level
Not Specified
Workplace
In-Office

Job Details

Who Are We?

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$222,700.00 - $356,500.00

Target Openings

1

What Is the Opportunity?

The VP in Catastrophe Risk Management is a senior analytic leadership role that encompasses broad strategic vision development, strategy execution, operational, and talent responsibilities for the enterprise Catastrophe Risk Management department. This unit is part of the Enterprise Risk Group and partners with our business segments to evaluate and manage catastrophe risk, including natural and manmade catastrophes. This role is expected to promote and drive change within the assigned business area and across the Travelers.

This position offers a unique opportunity for an individual who can strive in an analytical, innovation-driven environment, in tune with business needs. You will be responsible for enterprise initiatives and a dedicated team of scientific and analytic subject matter experts focused on leveraging actionable science, implementing sophisticated multivariate weather models, conducting advanced research across all major catastrophe perils, developing emerging capabilities, and making recommendations to enable timely and informed risk management decisions. As a member of the Catastrophe Risk Management leadership team, you will be actively engaged in the development of our catastrophe loss estimates utilized in risk aggregation management, risk reward evaluation, and business strategy. This position offers high visibility and opportunities for interaction with senior management.

What Will You Do?

  • Strategy:
    • Develop organizational strategy and long-term vision. Influence and communicate strategic portfolio recommendations to senior leaders at the Enterprise and Business Unit level.
    • Create environment for the successful execution and completion of entire strategic portfolio of peril initiatives.
    • Strategic peril research planning to maximize productivity of staff and impact to the business.  Provide thought leadership in identifying and prioritizing strategic research initiatives based on emerging peril risk trends or enhancements that could impact Travelers underwriting, pricing, risk reward, and/or aggregation of risk.
    • Be a leader of change and innovation across the organization.
    • In addition to leading a portfolio of assigned strategic initiatives, the position will be an advisor on many Enterprise-wide initiatives, and at times lead Enterprise initiatives.
  • Operational:
    • Recommend decisions resulting from team's analytic analyses.
    • Empower day to day execution within department. Consistently drive broad department initiatives.
    • Improve what we do and how we do it:  Promote innovative and transformative peril research; disseminate knowledge; present recommendations to leadership and  business partners; facilitate informed catastrophe risk management business decisions.
    • Advance our catastrophe peril research capabilities including hazard risk trends analysis, identification of potential new rating variables, leveraging new tools including geospatial and artificial intelligence, and climate scenario analysis.
    • Promote efficiency and influence appropriate resource investment across the Enterprise, balance additional effort against incremental lift gained from work.
    • Manage and provide guidance to a team with advanced subject matter expertise across major catastrophe perils which include hurricane, earthquake, severe convective storm, wildfire, winter storm, terrorism, cyber, as well as other emerging perils.
    • Makes decisions independently in accordance with Enterprise practices.
    • Ask pertinent questions to ensure quality of analytical work.
    • Prepare analytical foundations for future business needs.
    • Provide support as necessary for initiatives across the Enterprise within the scope of influence.
    • Lead multidisciplinary enterprise governance groups and initiatives.  Responsible for the Enterprise Catastrophe Research Council facilitating the communication, collaboration, and transparency around our research agenda and potential business implications with our enterprise and business partners.
    • Collaborate with other subject matter experts in Enterprise Risk Management, Actuarial, Underwriting, Product, and Reinsurance
    • Lead and/or provide inputs to external regulatory inquiries and reporting requirements with respect to our proprietary catastrophe view of risk methodologies and loss estimates.  Responsible for management review of catastrophe loss estimates provided to rating agencies and regulatory bodies.
    • Support other Department functions including business unit consulting, event response, audit/financial controls, and ESG reporting.
  • Communication:
    • Communicates on a regular basis with staff, peers, business partners, and senior leaders.
    • Tailors communication of analysis, project results, and other business initiatives to audience.
    • Skilled at communicating technical topics to non-technical audiences.
    • Leads group discussions with multiple disciplines or responsibility levels, including senior leaders.
    • Skilled at creating formal written communication such as memos or presentations.
    • Identifies actions to enhance business outcomes and influence peers and partners to take action.
  • Talent:
    • Staff responsibilities include direct management of a team of leaders.
    • Acquisition, retention, and development of talent for assigned department.
    • Execute, communicate, and influence standards for talent development processes, including performance and personal development goals.
    • Proactive succession planning and talent assessment recommendations.
    • Performance management including workforce planning.
    • Support staff engagement in cross Enterprise/Department initiatives.
    • Develop talent management strategy.
    • Mentor less experienced talent across the Enterprise .
    • Sponsor training and skill development initiatives across the Enterprise.
    • Support recruiting efforts and candidate talent assessment efforts across the Enterprise.
    • Perform other duties as assigned.

What Will Our Ideal Candidate Have?

  • Demonstrated leadership ability.
  • College degree in STEM or business-related field.
  • 15+ years of quantitative analysis experience in an actuarial, scientific,  or related analytic discipline.
  • Fellow of the Casualty Actuarial Society (FCAS) or International Society of Catastrophe Managers (CCRMP or CSCR) credentials preferred.
  • Extensive catastrophe risk management experience preferred.
  • Advanced knowledge and familiarity with catastrophe models, tools, and metrics preferred, including use of model output for risk selection, insurance pricing, reinsurance placement, capacity management, capital modeling, and risk-based capital calculations.
  • Proven track record of developing and executing strategy.
  • Strong understanding of insurance products and industry.
  • Demonstrated ability to convey technical concepts across professional fields of discipline. 
  • Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
  • Exceptional influencer and/or consulting skills; able to build consensus among a diverse group of stakeholders.
  • Excellent communication skills with the ability to present and translate complex information to senior leadership and non-technical teams.
  • PC skills (MS Office).
  • Leadership:
    • Promotes a culture that challenges conventional thinking.
    • Exercises decision-making authority over projects/portfolios of projects and makes independent recommendations to influence business outcomes.
    • Proficient in Leading Self including exhibiting decisiveness and self-awareness while also effectively managing ambiguity.
    • Proficient in Leading Others including modeling the way for others, forging synergy and participative management .
    • Demonstrates mastery of and mentors others on Leading the Business including actively engaging in driving business results, broad thinking, change management and promoting an Enterprise culture.
  • Business Acumen:
    • Has an in-depth understanding and knowledge of most business drivers and disciplines as well as their interrelationships. Areas include, but are not limited to: catastrophe risk management, underwriting, products, reinsurance, distribution, sales, operations, risk control, claim, and financial.
    • Has a perspective on the industry and developing trends, including technology, analytic methodology, products, and performance of competitors.
    • Able to effectively utilize this business knowledge in developing and implementing analytic solutions and anticipate the impact of market dynamics on Travelers performance.
    • May influence the insurance industry.
  • Relationship Management:
    • Proactively build, own, and leverage business relationships across the Enterprise.
    • Encourage cross-functional teams to allow for sharing of ideas across the Enterprise.
    • Identify and address areas of tension across organizations with business partners and suggest any necessary changes.
    • Expose accomplishments of other disciplines to their own organization.
    • Alongside business partners, develop long term strategy and road maps for the Enterprise.
    • Develop a culture that promotes understanding diverse perspectives.
  • Quantitative Analysis:
    • Able to introduce innovative techniques to both new and existing problems, and influence the business by recommending solutions.
    • Awareness of methodologies to customize catastrophe models and adjust claim loss experience to create a proprietary view of risk is a plus.
    • Stays aware of advancements in analytical techniques and technology used to implement them.
    • Regularly offers technical consultative feedback.
    • Can assess various technical solutions to optimize analytical outcomes.
    • Ability to synthesize complex multivariate problems. 
    • Ability to find ways to use available data sources to answer questions and solve problems. 
    • Consistently recognizes and solves for emerging issues that require a quantitative solution within and outside functional area.

What is a Must Have?

  • Master's degree in Statistics, Mathematics, Decision Sciences, Actuarial Science or related analytical STEM field plus nine years of experience or any suitable and equivalent combination of education and work experience.
  • Heavy concentration in mathematics, including statistics and programming, business intelligence/analytics, as well as data science tools and research using large data sets.
  • Additional verification of specific coursework will be required.

What Is in It for You?

  • Health Insurance: Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
  • Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
  • Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
  • Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We believe that we can deliver the very best products and services when our workforce reflects the diverse customers and communities we serve. We are committed to recruiting, retaining and developing the diverse talent of all of our employees and fostering an inclusive workplace, where we celebrate differences, promote belonging, and work together to deliver extraordinary results. 


If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.


Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.


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WHO WE ARE

Imagine a Career With Purpose.

For more than 160 years Travelers has earned a reputation as a leader in personal, business and specialty insurance because we take care of our customers. When you work at Travelers, life’s most important moments become your life’s work. That means helping families feel secure, businesses to prosper, knowing that you’ve made a difference, and feeling like you belong to something bigger.


LIFE AT TRAVELERS

Imagine Playing a Role in Something Bigger.

A career at Travelers means being part of a team comprised of 30,000 + talented and passionate people that’s evolving to meet changing needs – from customer service to data science and beyond. If that’s more than you imagined in an insurance career, it’s time to join us at Travelers.


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