Project Manager - MRP (c)
MS Amlin
2 months ago

The Underwriting Modelling function provides a core service to MS Amlin Legal Entities and affiliated insurance businesses within the MS&AD group. They are responsible for the management of Catastrophe Risk and other risk accumulation for more than 30 major class groups across Specialty and Reinsurance business: including capturing exposure, pricing contracts, maintaining the quarterly portfolio, measuring the portfolio against capital tolerances, supporting tolerance setting, analysing risk exposure and accumulations, providing data and metrics for Business Planning and outward reinsurance purchase, and providing event response and other ad hoc services. The Modelling function also manages the Technical Pricing Framework, and manages the View of Risk for catastrophe modelling.

Regulatory responsibilities include: producing quarterly Exposure Monitoring Packs for Executive Underwriting Committee, Risk & Solvency Committees and Legal Entity Boards, managing the RDS returns for internal stakeholders and Lloyd’s, Standard Formula returns for Lloyd’s, the PRA and the NBB, and the Swiss Solvency Test for FINMA; providing first line dependent validation of catastrophe models; completing a number of other regulatory returns; and managing components of returns and presenting to rating agencies. The Modelling function works closely with Underwriters, Capital and Reserving Actuarial teams, Compliance, Finance, and Risk in these tasks, as well as with Underwriting Management.

We are delivering changes to the Underwriting Modelling function in MS Amlin, across process, operating model and applications; designing and implementing new and updated applications, changes in resourcing, business processes and operating model (as required). The objective is to simplify the process, organisation and IT architecture to realise operational efficiencies and an improved analytical service to the numerous customers of modelling.

A key component of the change programme is achieving sign off from MS Amlin’s regulators to the broad scope of changes being delivered within the programme. Securing the necessary approvals from all internal and external stakeholders is a critical requirement ahead of “Go Live”. The co-ordination and successful execution of the Solvency II and FINMA Major Model Change process across all business owners, contributing teams, and governance bodies within MS Amlin is a key activity that needs to be scoped, planned and progress tracked and reported.

The tasks will include:

  • Working with the Programme and BAU teams and governance bodies (where appropriate and applicable), to detail all the required deliveries and dependencies.
  • Working with the business owners of Major Model Change to manage their interests/requirements with regard to the programme and the business in BAU for the Major Model Change(s).
  • Managing the approval risk, by developing an engagement plan for all internal and external stakeholders to ensure all potential issues and concerns are pre-empted to secure timely approval.
  • Developing a delivery plan for the Major Model Change process for each of MS Amlin’s regulators ensuring all deliverables are scoped out, the review and validation process for all deliverables across 1st and 2nd line functions is clearly understood and planned out, delivery is actively managed; governance and approval steps are detailed across all external and internal governance bodies, including boards, with all supporting materials produced and distributed in a timely fashion ahead of meetings.
  • Working with one Legal Entity currently preparing IMAP to ensure timeline and deliverable conflicts are resolved and resourced appropriately.
  • Managing the production schedule, delivery, and analysis programme for a "new world" catastrophe portfolio as input to the phase one MMC
  • Managing the production schedule for papers for approval at the (internal model) Model Governance Committee and sub-committees, including producing report templates, and managing the review and sub-editing processes.
  • Working with the Programme delivery and BAU teams to understand their delivery scope and schedules, identifying gaps or scheduling issues that jeopardise the delivery of the Major Model Change process to expected timescales, including supporting resolution of conflicts with BAU reporting requirements
  • Identify and manage ongoing risks to the schedule and quality of delivery – identifying gaps in resources; knowledge/skills and providing options to remediate.
  • Organising and running workshops / 1-2-1 meetings with senior stakeholders
  • Working under the direction of a programme manager and alongside project managers of parallel workstreams
  • Plus the standard project management activities (e.g. monitoring, risk and issue management, regular reporting, Steer Co preparation)

Critical success factors of the role are:

  • Ability to build and maintain strong, cohesive working relationships with senior stakeholders
  • Strong sense of prioritisation and execution against critical deliverables, coupled with a sense of personal ownership for key projects deliverables
  • A track record of delivering against tight timescales in an ambiguous environment
  • Ability to demonstrate flexibility, multi-tasking skills and a ‘can do attitude’
  • Be able to work in an unstructured analysis environment, identifying / anticipating problem areas before they occur
  • Ability to develop junior and BAU colleagues understanding of and secure buy in to their role to achieving success.