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VP, CAT Financial Manager in Bernards, NJ at Chubb Group of Insurance Companies

Date Posted: 7/16/2018

Job Snapshot

Job Description

Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
Position Description:
The CAT Financial Claim Manager for the North America Claim Organization assures the accurate and timely management of CAT Claim data and exposure reporting processes. This includes but is not limited to CAT event reporting, tracking and daily updates to senior leaders, assessing exposures to contribute to event / quarterly projections, evaluating claim severity data, reinsurance, financial/expense tracking, operational costs, CAT/Staff modeling information. Works closely claim business leaders, actuary, corporate catastrophe solutions, group claims and finance. 
Provides centralized CAT financial leadership and develops processes to drive efficiencies in CAT Claim reporting.  Analyzes data, trend and variables which impact the financial components of CAT indemnity and expense.  Utilizes internal resources such as claimsmart and CAT Dashboards to assess claim trends.
Works closely with Actuary, CCS, Reinsurance, Enterprise Risk, Treasury and other key business partnerships to support and drive the achievement of CAT financial objectives. Responsible for the financial reporting of exposures and works with the claim units, group claims and actuary teams to establish event projections during reporting cycles.  Manages CAT Analysts and their responsibilities relating to the CAT financial process.  Utilizes CAT modeling, mapping and industry data to assess CAT event impact to the business.
Key Responsibilities:
  • Primary manager of the CAT financial process and related items.
  • Daily reporting of significant events, exposures and severity.
  • Assists with the assessment of CAT capacity, modeling and associated expense. 
  • Maintains and updates of CAT financial playbooks and processes.
  • Seeks and develops efficiencies in reporting through the use of technology.  
  • Responsible for coordination of operational and financial metrics and reporting from various precincts. 
  • Oversight of CAT analysts and participates as a key member of the actuary Financial CAT projection process. 
  • Program business interaction and financial tracking
  • Utilizes industry resources such as PCS, RIMS, analyst reports, etc to assess Chubb exposure and assess risk.
  • Assists the broader property discipline with financial/expense related projects and initiatives.
  • Responding timely to ad hoc reporting requests, projects and additional duties as required.
  • Tracking and identification of large losses to ensure reserve adequacy through direct and coordinated severity file reviews.  Ensuring proper identification of reinsurance on a per claim and event basis.
  • Ensure appropriate CAT coding in systems and on a claim level basis. Monitor exposure updates on a gross/net basis and identify crossover accounts.
Qualifications/Responsibilities:
  • Excellent written and verbal communication skills with the ability to draft succinct reports for Senior Level Managers and Executives.
  • Strong math skills and proven analytics to forecast and identify trends.
  • Finance, actuary, or related background.
  • Extremely organized individual that can multi-task and manage multiple streams of information with tight deadlines.
  • Conceptual understanding of insurance financial terminology and reinsurance.
  • Adaptable, flexible and team/relationship oriented.
  • Familiar with budgets and schedules
  • Ability to effectively monitor, assess and track dynamic financial information keeping track of rapidly developing changes in a time sensitive environment. 
  • Comprehension of or ability to learn the actuarial CAT event projection process and business unit detail.
  • Ability to assemble senior level reports that accurately articulate and depict the current state of operational and financial CAT metrics
  • Strong computer skills and aptitude with pivot tables, macros, slicers, formulas and new programs as needed.
Special Requirements:
  • Preferred location within the Northeast (BR, WHS).
  • Business Travel – Generally limited to key offices in NE (BR, WHS, PA).
  • Extended/Weekend hours during significant events, peak times or reporting cycles.

Chubb offers a competitive compensation package and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan, disability coverage, stock purchase plan, flexible spending accounts, tuition reimbursement, and business casual dress. At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religion, age, sex, sexual orientation, transgender, national origin, disability, genetic information, veteran or marital status, or any other characteristic protected by law.