AVP Capital Modeling

CNA Financial Chicago, IL
Job Summary

Officer position responsible for providing overall management and direction for the economic capital team that evaluates the allocation of capital to assumed risks across the enterprise. Directs the development and implementation of strategic objectives for the modeling group within risk management (ERM), in accordance with the company's strategic plans. Partners with business units and key functional areas to promote capital modeling initiatives and ultimate integration of risk-adjusted planning, performance, and analysis.

Essential Duties & Responsibilities

* Drives implementation of strategic objectives with respect to the capital modeling function for CNA with the goal of advancing the risk culture of the company and driving risk-based decision making

* Responsibility for the methodology and modeling for all of the critical risk factors impacting capital, working closely with partners across the enterprise to understand and validate critical elements and ensure a proper feedback loop

* Partners closely with ERM functions including Risk & Governance, Business Unit Risk Management, and Exposure Management on the identification and assessment of risks and the proper parametrization of the capital model commensurate with measurement of these risks

* Maintains an advanced understanding of economic capital modeling, allocation methodologies, and business knowledge and risk drivers in order to design and enhance models

* Oversee economic scenario generator efforts to assist in measuring concentration/diversification across risk factors ; manage stress –testing scenario analysis in support of ORSA process and other key analyses

* Develop, enhance, and promote a Risk and Return framework that can be utilized across the enterprise and in support of critical business (underwriting) and key strategic decision-making

* Analyzes the output of the model and ensures that desired results are achieved. Communicates output to ERM partners, business unit heads, functional leads, and senior management

* Reviews quantitative and methodological differences between the CNA modeling approach and that taken by rating agencies. Works with rating agencies and company management to explain and promote CNA modeling approach.

* Leads, directs, and has full management accountability for staff in area of responsibility with an emphasis on talent management, staff development, and succession planning in accordance with corporate strategic direction.

May perform additional duties, initiatives, and analysis, as needed

Reporting Relationship

Reports to Executive Vice President & Chief Risk Officer

Skills, Knowledge & Abilities

* Mastery of the Finance and Risk Management functions and strong business acumen

* Advanced communication and influencing skills which are critical to building consensus across the Capital team, ERM, business units and key functional areas

* Strong leadership and management skills demonstrating integrity and professionalism and accountability

* Ability to drive results by identifying and resolving significant problems within scope of responsibility

* Senior level knowledge of the P&C insurance industry, its products, and services

* Knowledge of Microsoft Office Suite and other business-related software

Education & Experience

* Bachelor's degree with Master's preferred in Finance or Business or a related discipline, or equivalent

* Typically a minimum of twelve years of related work experience, with seven years management experience

* Applicable certifications preferred

* LI-WM1


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