Selective Insurance Company of America

  • Associate Business Analyst, ERM

    Location US-NJ-Branchville
    Experience (Years)
    1
    Category
    Control/Compliance
    Status
    Full-Time Regular
    FLSA Status
    Exempt/Salaried
    Job ID
    5888
    Travel %
    0-5%
    Auto Reimbursement
    No
  • Overview

    Support Enterprise Risk Management (ERM) in data collection, risk analytics and risk reporting. Assist in developing risk identification, measurement, monitoring and reporting capabilities to address existing and emerging risk considerations for management information. Support capital modeling and scenario testing efforts to produce solvency assessment and maintain compliance with key internal and external stakeholders. Collect and analyze industry data to extract risk/return insight and perform financial analysis on certain counter parties and peers. All job duties and responsibilities must be carried out in compliance with applicable legal and regulatory requirements.

    Responsibilities

    • Update existing risk reports (ERM Risk Scorecards) using internally approved methodologies and processes. Coordinate inputs from multiple sources while prioritizing work flow to manage tight deadlines. Consistently refine risk scorecard production process and enhance supporting documents to achieve better efficiency, accuracy and customer satisfaction. 
    • Assist in various risk studies by utilizing publicly available information from peer companies, rating agency publications and financial databases. Frame risk studies with appropriate business context for management information. Risk studies may cover reinsurance counterparty credit risk, catastrophe risk disclosures, loss reserve and capital management practices as well as other emerging risk issues.
    • Assist economic capital modeling by applying basic statistical and financial disciplines to model major risks such as catastrophe risk, insurance underwriting risk, reserve risk, investment market risk, credit risk and operational risk. Sensitivity test key parameters, document key methodologies and report any significant changes in modeled results.
    • Support capital model applications such as capital adequacy assessment, capital allocation for product pricing and ROE performance management, risk appetite & limit setting, financial planning, reinsurance/risk transfer evaluation, etc. 
    • Assist in preparing and filing Own Risk & Solvency Assessment (ORSA); maintain the inventory of stress scenarios and supporting documents; research other solvency frameworks such as Solvency II and Basel III with manager’s guidance
    • Participate in special projects as required, which may include testing and reconciling data for the Company’s main outwards treaties at renewal.

    Qualifications

    • Microsoft Office skills a must (Access, Excel, Power Point and Word). 
    • Understanding of accounting principles and financial/statistical modeling is desired. 
    • Ability to apply analytical skills to analyze, synthesize and integrate data/information. 
    • Ability to work across boundaries and collaborate with other areas of the organization. 
    • Flexibility to adapt to changing work priorities and assignments. 
    • Work effectively in team environment.
    • College degree of finance/math/ accounting/actuarial science/statistics/economics preferred.

     

     

     Selective is an Equal Employment Opportunity employer. Selective maintains a drug-free workplace.

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