Job Title: Cyber and Liability Catastrophe Modeller
Division: Exposure Management – Underwriting
Reports To: As per Beazley’s organisational chart
Key Relationships: Exposure Management team, Cyber Underwriting teams, Specialty Underwriting teams, Capital Modelling team, Ceded Reinsurance team, Risk Management teams, Data teams, Governance Committees, Third-parties (e.g. modelling vendors, reinsurance brokers)
Job Summary: This role is within the Exposure Management team dedicated to catastrophe risk management for Beazley’s Cyber Risks (CR) and Speciality Risks (SR) divisions. The role is responsible for the development, validation, maintenance and application of both internal modelling methodologies and third-party vendor models for cyber and liability catastrophe risk, ensuring outputs are robust, fit for purpose, and aligned to business requirements
Key Responsibilities (including but not limited to):
Cyber and Liability Modelling & Analytics:
- Responsible for interpretation and execution of catastrophe modelling across internal and external scenarios (including third-party models), overseeing Analysts where appropriate.
- Support the execution of modelling and associated responses for cyber and liability regulatory reporting, including the Lloyd’s Realistic Disaster Scenarios (RDS).
- Responsible for running internal probabilistic models, under guidance from the Capital team.
- Provide portfolio commentary and insights, including presenting modelling results and catastrophe risk papers to governance committees.
- Support the validation and challenge of third-party models and internal scenarios. Assess model assumptions, limitations, uncertainty and sensitivity, and explain their impact on results.
- Benchmark model outputs, using internal and external comparisons.
- Provide technical expertise in modelling complex (re)insurance structures, developing appropriate methodologies to represent exposures and reinsurance terms. This includes consortia, delegated authority, facility, and programme business as well as reinsurance and alternative risk transfer arrangements, including Cat Bonds / ILS and other bespoke structures.
- Maintain clear documentation of methodologies, assumptions, judgements and model changes.
Portfolio Management & Reporting:
- Support collation of cyber and liability portfolios for monthly roll-up processes and monitoring of risk appetites. For example, monitoring portfolio aggregations and trends, and identifying material changes in exposure profile, data quality or modelled loss.
Strategic Engagement & View of Catastrophe Risk:
- Involved in strategic discussions on catastrophe modelling methods, including engagement with transformation projects and overall team strategy.
- Keep abreast of industry good practice, market insights and regulatory expectations on catastrophe management, including Lloyd's Principles.
- Engage with external stakeholders, including brokers, vendors, Lloyd's and other regulators on catastrophe modelling developments and expectations.
- Assist with ad-hoc research, including emerging threat analysis, vendor model changes and industry cyber and liability events.
Operational Support & Process Management:
- Provide insights to Underwriters, Capital Modelling, Ceded Reinsurance, Risk teams and governance committees in a clear and digestible format.
- Provide cyber and liability catastrophe output and analytical support for underwriting decisions.
- Provide ad-hoc event response support.
- Develop, maintain and own documentation, files and controls on cyber and liability modelling processes, tools and governance.
- Identify and execute process and control improvements, including exposure and results data.
- Contribute to third-party model system upgrades, including user acceptance testing and implementation activities to support the effective adoption of new model versions.
People Leadership & Development:
- Coach and mentor more junior members of the team.
- Contribute to the upskilling of colleagues on cyber and liability exposure management, both within the Exposure Management team and across the wider business.
- Provide technical support / guidance, sharing knowledge and promoting consistent standards.
General:
It is important that within all your interactions both internally and externally you adhere Beazley’s core values – Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:
- Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct.
- Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Personal Specification:
Education and Qualifications
- Educated to ‘A’ Level or equivalent.
- Graduate with a degree from any discipline.
- Actuarial background is advantageous but not essential.
Skills and Abilities
- Strong numerical ability with excellent attention to detail and accuracy.
- Effective verbal and written communication skills, able to explain technical concepts to non‑technical audiences and engage with senior stakeholders.
- Strong time‑management skills with the ability to manage competing priorities.
- Problem-solving mindset with the ability to analyse issues and develop practical solutions.
Knowledge and Experience
- 5+ years in commercial insurance in exposure management, catastrophe risk or actuarial.
- Knowledge of catastrophe modelling methodologies (including third-party models) and communicating changes to key stakeholders essential.
- Knowledge of cyber catastrophe is desirable; experience in liability or other relevant insurance classes would be equally advantageous.
- Lloyd’s insurance market experience and Lloyd’s RDS knowledge desirable.
- Understanding of policy structures and reinsurance structures essential.
- Strong technical skills essential, including advanced Excel experience.
- Understanding of risk management principles and application (e.g. controls) desirable.
Aptitude and Disposition
- Self‑motivated and proactive with a passion for continuous improvement.
- Flexible and enthusiastic, able to adapt to evolving business needs.
- Professional, reliable, and committed to delivering high‑quality outputs.
