Quantitative Strategic Risk Analyst

About the Role:

Liberty Mutual exists to help people embrace today and confidently pursue tomorrow and believes that nurturing your individual passions can create an organization unparalleled in its ability to meet the needs of our customers and the future. The GRS Strategic and Systemic Risk team (“S&SR team”), as part of the GRS Risk Centre of Excellence, plays a pivotal role in ensuring GRS is well-prepared to respond to risks and challenges that could jeopardise GRS’s strategy and business objectives. The S&SR team does this through implementing strategies to protect the business as well as ways to capitalise on the opportunities presented.

As a Quantitative Risk Analyst, you will use data and exposure analysis, scenario quantification, and cooperation with wider teams to develop clear reporting and new insights into GRS’s risk environment. This will cover systemic risks across established risk categories (i.e., underwriting, reserving, market, credit, and operational risks; and the dependencies between them) as well as the specifics of new emerging risks. Engagement with broader GRS business functions is essential in achievement of the S&SR team mandate, and this role will play a key part in this, utilising the GRS Teams of Teams approach.

About the Department & Team:

Risk Management exists to help GRS business stakeholders make effective risk based, disciplined decisions and do the right thing. This is achieved via the development and implementation of the Risk Management Strategy that supports GRS’s corporate vision, strategy, and business plan. This strategy aims to:

·Develop and embed an effective Risk Management framework which allows the identification, assessment, mitigation, monitoring and reporting of risk and enable the management of those exposures to a level consistent with the GRS’s risk appetite;

·Ensure stakeholder confidence in GRS’s systems of governance and internal control.

Key Responsibilities:

Stress & Scenario

●Contribute to the GRS Stress and Scenario Testing framework, globally, to identify, assess, and improve understanding of a variety of scenarios or stress events that have the greatest potential to cause a material loss to GRS. This brings together the scenario work undertaken throughout GRS for the purposes of risk and solvency assessments, emerging risk assessments, strategic decision making, and portfolio steering, ensuring appropriate segment and legal entity perspectives.

●Support the design and build of GRS scenario models in accordance with the framework.

●Engage with subject matter experts across Risk Management and within business functions in the delivery of scenario analysis including the final assessment and reporting. 

●Support the delivery of insightful reporting on stress and scenarios undertaken to all stakeholders, tailoring analysis towards specific requirements of deliverables.

Emerging and Systemic Risks

●As part of the broader Strategic and Systemic Risk Team, contribute to the assessment of new emerging or systemic risks, across relevant industry, economic, and academic resources, which supports GRS analysis.

●Support climate change risk assessments (physical, litigation and transition risks) across GRS

●Proactively conducts own research, across relevant industry, economic, and academic resources, so to support the assessment of new or emerging risks. 

Core Risk Management Activities

●Work closely with the GRS Risk Management community to deliver consistent, efficient and integrated risk management across business segments and legal entities. Ensure key information is distributed to stakeholders as relevant.

●Assist with assessing the risk implications of business plans, their achievability, and key areas of uncertainty, to inform related management decision making.

●Manage the delivery of assigned workstreams of the GRS Risk Management Plan including any thematic review and business challenge work identified and ad hoc projects as they may arise.

●Act as an ambassador to champion GRS’s Responsible Risk Management priorities through proactive education of and engagement with different business units.

●Act as an ambassador to champion GRS’s risk culture across GRS and demonstrate behaviours as set out in the Conduct Risk Policy and our Liberty Values.

Reporting and Governance

●Contribute to the delivery of assigned subsections (in particular the Stress and Scenarios) of the Own Risk and Solvency Assessment (ORSA) process for the prioritised legal entities within GRS.

●Contribute to the delivery of all regular and ad hoc reporting as applicable to role, including to the GRS Enterprise Risk Management Committee and supporting the SBU and Legal Entity Risk Management teams in their reporting to key Boards and Committees.

●Coordinate with Segment and Legal Entity CROs to deliver relevant risk reporting related to key responsibilities.

  Compliance

●Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to Liberty’s commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. GRS expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Skills and Experience

●Suitable quantitative skill set (evidenced from education and previous roles). Will consider candidates from Actuarial and non-Actuarial backgrounds.

●Substantial experience within the insurance, and notably the London Market is preferable. 

●Microsoft office skills for Excel, Word and Powerpoint essential

●Some experience of PowerBI (or other visualisation tools) preferable 

●Proactive knowledge and interest in emerging and systemic risk, and emerging insurance industry trends

●Logical mind-set, and able to translate detail into big picture, be proactive, result focussed and efficient.

●Ability to proactively lead work, including discrete projects on behalf of Risk Management function.

●Stakeholder management and relationship skills - to build relationships with a range of stakeholders at different levels of the business and communicate effectively.

●Project management skills – to deliver change within areas of responsibility.

Liberty Specialty Markets is part Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

·Offering a vibrant and inclusive environment and committing to their career development.

·Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.

·Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.

·A supportive culture, which includes promoting a healthy work-life balance and working flexibly.