AVP, Head of Model Risk Management

JOB DESCRIPTION

Chubb is seeking a highly motivated and experienced Model Risk Manager to join our Global Enterprise Risk Management Team.

The successful candidate will play a pivotal role in leading the implementation of a comprehensive model risk management framework across Chubb Group and contributing to the effective execution of the firm's strategic objectives.

Responsibilities


* Lead Chubb's model governance processes, including:


* Administration of the Model Risk Committee.


* Updates to the Model Risk Policy.


* Maintaining of model inventories, from model discovery, registration, risk tiering, to periodic attestation.


* Development and application of Key Risk Indicators for early detection and monitoring of model risk.


* Review of model risk and control allocation and evaluation of control design in accordance with risk-based governance requirements.


* Ad-hoc reviews of control execution, identifying potential issues or deviations, documenting findings, and tracking resolution.


* Advancing the risk and control assessment process around models and tools.


* Reporting model risk to senior management committees and the Board.


* Managing model risk management platform.


* Designing and implementing processes for model validation, monitoring, and performance assessment, including stress testing and backtesting.


* Reporting model validation results to relevant governance bodies.


* Staying current on Chubb's business risk profiles including non-life and life risks, industry best practices and emerging trends in modelling.


* Understanding of regulatory compliance requirements for models within the insurance industry across different jurisdictions including the US, Europe, UK, Swiss, and APAC markets.


* Lead a team of India-based technical experts in validating Chubb's capital models, including


* Review and approve models and tools for deployment based on established governance requirements.


* Develop training programs and materials to educate Chubb employees on model governance principles and practices.


* Serve as a subject matter expert on model governance, providing guidance and support across the organization.


* Build strong relationships and trust with stakeholders across all model owner, developer and user communities within Chubb.


* Participate in ad-hoc projects to support department objectives.


* Occasional international travel is required.

QUALIFICATIONS

Qualifications


* Bachelor's

ABOUT US

Chubb is a world leader in insurance.

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, s...