Location
Bangalore | India
Job description
About The Team
We are Solvency and Financial Risk Management (SFRM), a team dedicated to ensure Swiss Re can deliver on its future promises by:
- protecting and enabling steering of the Group's solvency
- providing transparency on risks & costs of risk taking
- ensuring controlled risk taking and
- promoting a risk aware culture
Solvency and Financial Risk Management combines Group Risk and Analytics and Financial Risk Management to pursue even closer collaboration between financial risk controlling and solvency management. Each focus area contributes to key risk and capital decisions in Swiss Re.
Group Risk and Analytics (GRA) is the global center of competence for producing risk information and analysis for internal and external stakeholders as a basis for business decisions and compliance with regulatory requirements.
The GRA team in Bangalore which is also known as Risk Aggregation & Analytics (RAA) comprises about 14 risk professionals with focus currently on analyzing our business and performing calculations with our internal capital model (Internal Capital Adequacy Model). The team works very closely with other areas of GRA in Switzerland, the internal model development team and our global reporting teams besides key business functions providing data and input into the risk models.
Risk Aggregation & Analytics (RAA) Is Mainly Responsible For - SST and SII aggregation processes on a quarterly and weekly basis
- Report and consult on risk and solvency results on a quarterly and weekly basis
About The Role As a member of our team, you will have the opportunity to grow your own expertise in risk and capital analytics and gain profound insights into our Life & health business across the globe. You will learn how Swiss Re selects risks and how senior management considers risk adjusted performance in business decisions.
The role involves working together very closely with the other teams within RAA and Risk Reporting & Analytics (RRA) and Risk Modeling team along with other teams of SFRM based out of Zurich and a global network of risk officers in our hubs in Asia, Europe and the Americas.
Role's Description - Support key tasks within the Life & health Team of Risk Aggregation & Analytics:
- Provide Analysis of change commentaries on Life & health risk profile and potentials per Group and other legal entities
- Understand and use the capital model implemented for generating Life & health risk figures such as shortfall (tVaR and VaR), cost of capital, etc.
- Analyze Life & health model input data using cashflow analysis techniques and prepare change analysis
- Run calculations for regulatory reports and quarterly deliverables
- Ensure timely delivery of all reports
- Support legal entities in ad hoc requests related to the changes in risk profiles
- Understand the reporting structure of various Life & Health businesses of Swiss Re
- Maintain auditable documentation of process and analysis
- Understand Swiss Re's Internal Capital Model and take lead in Life & health risk's analysis
The role is part of the Risk Aggregation & Analytics (RAA) team and you will report into the Head RAA, Bangalore.
About You - 4-5+ years of relevant experience in re-/insurance industry preferably Life & health experience.
- Basic knowledge about solvency frameworks and regulations (e.g. Swiss Solvency Test (SST), Solvency II)
- Understanding of underwriting risk and/or financial market risk
- Be able to deliver under pressure and communicate openly in case of obstacles
- Knowledge of at least one programming language advantageous (preferable MATLAB, R or Python)
- Team player with excellent interpersonal, writing, and analytical skills
- Actuarial papers required
Skills - Good communication and interpersonal skills.
- Strong analytical skills as well as high interest in quantitative tasks.
- Self-starter with the ability to work with multiple stakeholders in an international, multi-cultural and diverse environment.
About Swiss Re Swiss Re is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. We cover both Property & Casualty and Life & Health. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 14,000 employees across the world.
Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.
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