Catastrophe Modeling Associate Manager

Allstate Northbrook, IL

About the Job

The world isn’t standing still, and neither is Allstate. We’re moving quickly, looking across our businesses and brands and taking bold steps to better serve customers’ evolving needs. That’s why now is an exciting time to join our team. As a leader in a corporation with 83,000 employees and agency force members, you’ll have a hand in transforming not only Allstate but a dynamic industry. You’ll have opportunities to take risks, challenge the status quo and shape the future for the greater good.

You’ll do all this in an environment of excellence and the highest ethical standards – a place where values such as integrity, inclusive diversity and accountability are paramount. We empower every employee to lead, drive change and give back where they work and live. Our people are our greatest strength, and we work as one team in service of our customers and communities.

Everything we do at Allstate is driven by a shared purpose: to protect people from life’s uncertainties so they can realize their hopes and dreams. For 89 years we’ve thrived by staying a step ahead of whatever’s coming next – to give customers peace of mind no matter what changes they face. We acted with conviction to advocate for seat belts, air bags and graduated driving laws. We help give survivors of domestic violence a voice through financial empowerment. We’ve been an industry leader in pricing sophistication, telematics, digital photo claims and, more recently, device and identity protection. We are the Good Hands. We don’t follow the trends. We set them.

Job Summary


The Catastrophe Modeling & Analytics Team (CMAT) leverages vended catastrophe models to develop catastrophe information critical to pricing development.  The team also provides information, analysis and support to those responsible for risk management strategy and execution, ranging across line managers, state managers, business unit leaders and enterprise risk managers.

This is a front-line manager position.  The Cat Modeling Associate Manager provides support in the form of research and analytical assignments, and exhibits broader influence on peers, broader team and outside stakeholders.  They work closely with the team lead on research assignments of moderate to high complexity and are responsible for managing exposure and model validation, the generation of average annual loss and probable maximum loss estimates, as well as support for the risk transfer work.


Key Responsibilities


Catastrophe Risk Management and Ratemaking Support 
⦁    Manages the validation of personal and/or commercial lines property exposure data
⦁    Manages the validation of personal lines auto exposure data
⦁    Manages the validation of the results produced from running Allstate exposure data through commercial catastrophe modeling software
⦁    Read, understand, and interpret technical documentation for models/perils
⦁    Manages the generation of hurricane factors, average annual loss damage ratios, and/or fire following provisions used by Pricing
⦁    Manages the annual update of loss adjustment expense for modeled perils
⦁    Manages the maintenance of CMASS (Catastrophe Modeling Analytical Software Suite), including PML Projection, Catastrophe Exposure management Reports, and Property Strategy Tool
⦁    Manages the generation of PML estimates
⦁    Manages the quarterly reporting of company distributions to Reinsurance Accounting
⦁    Leads the effort to support Pricing with the annual Net Cost of Reinsurance and Retained Risk Provision work
⦁    Leads the effort to support Treasury with the annual rating agency questionnaires
⦁    Leads the effort to support the Catastrophe Risk Management work
⦁    Leads the effort of reporting of Real Time Loss Estimates
⦁    Determine appropriate analyses to be conducted for projects to make recommendations to achieve corporate goals
⦁    Plans, implements, manages, and/or contributes on projects that are of high complexity and are moderate to large scale using accepted project management standards
⦁    Analyze data and review analysis from others and identify and resolve basic data issues
⦁    Integrate and analyze data from multiple sources as to reach conclusions and make recommendations
⦁    Functions as the liaison between business units and systems or other areas of responsibility (e.g., Pricing, Reinsurance Accounting, Treasury, Protection Finance, and Enterprise Risk &


Return Management) as required based on projects assigned
⦁    Functions as the liaison between Allstate and outside partners (e.g., modeling vendors and reinsurance intermediaries


Key Responsibilities (continued)


Organizational Effectiveness
⦁    Forecasts short-term and long-term deliverables
⦁    Tracks plan performance and project timeline and communicates and presents project status
⦁    Ensures project controls are in place throughout the lifecycle of the project
⦁    Directs and is responsible for work that needs to be performed by a team and/or direct reports
⦁    Formulates strategies to achieve plan objectives
⦁    Assesses and anticipates resource needs including skills and training requirements (when leading project teams and/or managing direct reports)
⦁    Determines and enrolls resources/expertise that are necessary to successfully complete projects/assignments
⦁    Develops communication strategies and materials to support deliverables
⦁    Communicates and presents project information to project team as well as providing presentation/updates to senior level management
⦁    Completes project tasks as assigned and on-time
⦁    Actively builds strong relationships among teams and team members to ensure cooperation on project objectives
⦁    Trains/coaches team members or peers and actively shares expertise with peers and other disciplines
⦁    Accountable for talent management: evaluate performance and develop talent
⦁    Serves as a subject matter expert for their respective discipline(s) from an internal perspective
⦁    Ensures processes are followed and applied consistently throughout team/department
⦁    Understands and articulates implications of decisions or business strategies to team members
⦁    Leads cost benefit analyses
⦁    Proactively evaluates procedures and processes regularly and determines/recommends alternatives or improvements
⦁    Adheres to the internal and external compliance requirements/standards


Job Qualifications


⦁    Bachelor’s degree or higher in mathematics, finance, economics or other related/quantitative field
⦁    5+ years of Property & Casualty insurance experience with a primary carrier, reinsurer, and/or reinsurance intermediary
⦁    Solid knowledge and understanding of commercially available catastrophe models
⦁    Working knowledge of Actuarial Standards of Practice and familiarity with actuarial Statement of Principles
⦁    Intermediate understanding of accounting principles and financial reporting
⦁    High level organizational and project management skills in order to handle multiple concurrent assignments
⦁    Possesses advance working knowledge of policies and procedures in management or other technical fields
⦁    Strong computer proficiency in Microsoft Office
⦁    Strong proficiency of VBA, SAS, and/or SQL
⦁    Strong written and verbal communication skills including the ability to effectively collaborate with multi-disciplinary groups and all organizational levels
⦁    Strong presentation skills
⦁    Strong decision making skills
⦁    Works effectively in a team environment


The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.


Good Work. Good Life. Good Hands®.


As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.


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Allstate generally does not sponsor individuals for employment-based visas for this position.


Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.


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