Catastrophe Risk Analyst

Catastrophe Risk Analyst    

Employee Status: Regular

Schedule: Full-time

Location: Hybrid - defined as three days in office in Westfield Center, OH 

About Us:

You’re ready to make your mark where people care about each other. Where your work is meaningful. And where your unique perspectives are welcome. Think about joining Westfield, a company focused on what’s most important – the people behind our policies. 

Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Today, as one of the nation’s leading property and casualty (P&C) companies, we remain true to their vision and are dedicated to making a positive difference in our customers’ lives.

Responsibilities:

• Under direct supervision, collects, analyzes, and maintains reinsurance renewal submission data and records. This includes reinsurance placements, catastrophe exposure management, portfolio analytics, and reinsurance recovery.
• Maintains accurate data input for catastrophe exposure monitoring and models. Prepares, tests, and analyzes modeling data and results.
• Analyzes catastrophe exposures and collaborates with underwriting leaders to assist with managing their catastrophe exposures (e.g. hurricane, earthquake, tornado/hail, and terrorism).
• Monitors, reviews, and analyzes large losses and catastrophe losses to identify trends that would impact the reinsurance program and to ensure compliance with contractual reporting requirements.
• Assists with the monitoring of premium and loss accounts, commissions, reinsurance collections and collateral management; prepares, processes, and renders catastrophe reinsurance program billing statements.
• Assists in the coordination of periodic underwriting and claims file audits with reinsurers and provides assistance to auditors as needed.
• Assists in the development of subject premium estimates and other support information for reinsurance placement.
• Assists in preparation of annual reinsurance budget and periodic variance analyses.
• Provides support to underwriting units for reinsured products and reinsured product development, assists in the administration of various ceded reinsurance pools & associations.
• Prepares reporting for senior management, governmental and rating agencies relating to Westfield’s reinsurance programs, catastrophe losses, and modeling results.
• Monitors compliance to guidelines and procedures by various departments for placement of reinsurance.
• Responds to inquiries from various units within Westfield regarding reinsurance contracts, premium and claim inquiries, and processing and procedural issues.
• Assists in the management of the facultative reinsurance process including collaboration with underwriting office staff on ceding guidelines and procedures, taking action to resolve facultative issues, and monitoring property and umbrella exposure to ensure proper reinsurance coverage.
• Works with reinsurers along with both internal and external accounting departments to coordinate reinsurance transaction issues.
• Builds and maintains positive relationships and appropriately represents Westfield to existing and potential reinsurance partners.
• Travels occasionally to participate in special assignments, training, and/or travel between office locations.

Qualifications:

• 0-3 years of insurance/reinsurance experience.
• Strong analytical, problem solving, and research/data mining skills.
• Experience utilizing MS Excel and Access or similar data tools.
• Knowledge of P&C financial statements and an understanding of the effects of reinsurance on financial results.
• Experience working as a member of an integrated team and displaying good judgment on when to confer with leadership.
• Active pursuit in advanced degree in business, finance, or professional designation(s) such as CPCU, AINS, ARM and ARe.
• Excellent oral, written and interpersonal skills, including:
  • Effective presentation skills.
  • Delivers messages in a clear, compelling, and concise manner.
  • Articulates messages in a way that is broadly understandable.
  • Actively listens and checks for understanding.
• Strong organization skills including the ability to prioritize and handle multiple tasks while meeting schedules and deadlines.
• Bachelor’s degree in business, finance, insurance, data analytics, computer science, related field, or commensurate experience.
• Experience with PC desktop tools and use of Westfield applications.
• Valid driver’s license and a driving record that conforms to company standards.
• Physical essential functions: ability to work 40 hours in an office environment (sitting, standing, on a computer, etc.), operate office related technology (computer, phone, etc.), travel as required.

Westfield offers a Total Rewards program that focuses on compensation, benefits and wellness, and includes perks like 401(k), pension plan, annual incentive, education reimbursement, onsite fitness center or gym reimbursement and casual dress. Work/life balance, recognition, and learning and career development are all part of a rewarding career with Westfield.

Learn more about current opportunities at www.westfieldinsurance.com/careers.

We are an equal opportunity employer/minority/female/disability/protected veteran.