Flood Re Limited

In supporting the Head of Catastrophe and Climate, the candidate will show a willingness to either learn or increase their knowledge of the hydrological system within the UK context. As a business, it is important for Flood Re to demonstrate an understanding of how weather and climate may alter the hydrological balance and thus feed through into increased risk for the business. The main focus of this job will be quantifying the risk posed by extreme weather events through the production of outputs from the internal catastrophe risk modelling process. The job holder will also be encouraged to question and suggest improvements to the running of the catastrophe modelling process, as well as contribute to the validation of catastrophe risk models every three years, keeping up with market trends in the interim period and suggesting updates to the current processes. Key Responsibilities To run the quarterly catastrophe risk modelling process within Flood Re. To contribute to the continuous development of standard charts and metrics describing the risks posed to the Flood Re book. To contribute to documentation describing the validation of the catastrophe risk models used by Flood Re that will be used in order to meet our Solvency II requirements. To present on interesting topics within the field of the catastrophe risk modelling internally to the team at Flood Re. To present risk model metrics to the business in committees and meetings, advising on the changing nature of risk to the Flood Re portfolio over time. Ad-hoc tasks and pieces of analysis in order to support the head of catastrophe risk modelling and the chief actuary in order to further the Flood Re objective of transitioning out of the market in 2039. To question standard techniques and ways of thinking about problems that may subject the business to unnecessary risks. To represent Flood Re at external conferences and workshops. To help develop and promote strong working relationships between model vendors and the catastrophe and climate function at Flood Re. To ensure that the necessary quality control procedures are considered and adhered to in all work coming out of the catastrophe and climate department. To assist in analysing and interpreting UK Flood Risk across the entire market. To assist the Head of Catastrophe and Climate in support of the Chief Actuary by the production of materials as and when required by the business. Knowledge and Experience A background in catastrophe risk with experience of using at least one model vendor would be beneficial (e.g., RMS, JBA, AIR/Verisk, Fathom, Ambiental). A degree in either mathematics, geography, geophysics, hydrology, meteorology, or similar. Candidates without a degree but able to demonstrate degree-level quantitative skills and equivalent relevant experience in the field of natural hazards will also be considered. An interest in science. Some knowledge of one of the following languages: Python, R, or SQL. Experience of taking part in catastrophe risk model validation exercises. Familiarity with manipulating and organising data in Excel spreadsheets. Strong organisational skills. Experience of working with a wide variety of stakeholders. Flood Re is a world first - a collaboration between government and the insurance industry that makes flood cover in household insurance policies more affordable. You'll be joining a team of talented individuals from a variety of backgrounds, working to deliver an increasingly important social purpose. Find out more about our rewarding roles, supportive culture, and comprehensive package here.