The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

Liberty Mutual exists to help people embrace today and confidently pursue tomorrow and believes that nurturing your individual passions can create an organization unparalleled in its ability to meet the needs of our customers and the future. The GRS Strategic and Systemic Risk team (“S&SR team”), as part of the GRS Risk Centre of Excellence, plays a pivotal role in ensuring GRS is well-prepared to respond to risks and challenges that could jeopardise GRS’s strategy and business objectives. The S&SR team does this through implementing strategies to protect the business as well as ways to capitalise on the opportunities presented.

As the lead on all quantitative aspects within the team, you will use data and exposure analysis, scenario quantification, and cooperation with wider teams to develop clear reporting and new insights into GRS’s risk environment. This will cover systemic risks across established risk categories (i.e., underwriting, reserving, market, credit, and operational risks; and the dependencies between them) as well as the specifics of new emerging risks. Engagement with broader GRS business functions is essential in achievement of the S&SR team mandate, and this role will play a key part in this, utilising the GRS Teams of Teams approach. 

About the Department & Team:

Risk Management exists to help GRS business stakeholders make effective risk based, disciplined decisions and do the right thing. This is achieved via the development and implementation of the Risk Management Strategy that supports GRS’s corporate vision, strategy, and business plan. This strategy aims to:

• Develop and embed an effective Risk Management framework which allows the identification, assessment, mitigation, monitoring and reporting of risk and enable the management of those exposures to a level consistent with the GRS’s risk appetite; 
• Ensure stakeholder confidence in GRS’s systems of governance and internal control.

Key Responsibilities

Stress & Scenario

• Responsible for leading the GRS Stress and Scenario Testing framework, globally, to identify, assess, and improve understanding of a variety of scenarios or stress events that have the greatest potential to cause a material loss to GRS. This brings together the scenario work undertaken throughout GRS for the purposes of risk and solvency assessments, emerging risk assessments, strategic decision making, and portfolio steering, ensuring appropriate segment and legal entity perspectives.
• Engage with subject matter experts across Risk Management and within business functions during scenario analysis, to validate reasonableness of results and define appropriate risk response strategies, where needed. 
• Lead the Stress & Scenario Testing Working Group, facilitating stakeholder engagement, maintaining integrity and consistency of scenarios, and fulfilling related governance requirements.
• Deliver insightful reporting on stress and scenarios undertaken to all stakeholders, tailoring analysis towards specific requirements of deliverables.

Emerging and Systemic Risks

• As part of the broader Strategic and Systemic Risk Team, contribute to the assessment of new emerging or systemic risks, across relevant industry, economic, and academic resources, which supports GRS analysis. 
• Support climate change risk assessments (physical, litigation and transition risks) across GRS
• Consider new regulatory requirements and guidelines as it pertains to Emerging and Systemic Risk (i.e. Climate Change)

Core Risk Management Activities

• Coordinate with the GRS Risk Management community to deliver consistent, efficient and integrated risk management across business segments and legal entities.
• Assist with assessing the risk implications of business plans, their achievability, and key areas of uncertainty, to inform related management decision making.
• Manage relationships with broader Risk Management community and business functions to monitor risk exposures and advise on risk mitigation strategies where required. Ensure key information is distributed to stakeholders as relevant.
• Manage the delivery of assigned workstreams of the GRS Risk Management Plan including any thematic review and business challenge work identified and ad hoc projects as they may arise.
• Act as an ambassador to champion GRS’s Responsible Risk Management priorities through proactive education of and engagement with different business units. 
• Act as an ambassador to champion GRS’s risk culture across GRS and demonstrate behaviours as set out in the Conduct Risk Policy and our Liberty Values.

Reporting and Governance

• Responsible for the delivery of assigned subsections (in particular the Stress and Scenarios) of the Own Risk and Solvency Assessment (ORSA) process for the prioritised legal entities within GRS, contributing to annual reports provided for Board approval. 
• Responsible for the delivery of all regular and ad hoc reporting as applicable to role, including to the GRS Enterprise Risk Management Committee and supporting the SBU and Legal Entity Risk Management teams in their reporting to key Boards and Committees.
• Coordinate with Segment and Legal Entity CROs to deliver relevant risk reporting related to key responsibilities.

Please Note: This is a range posting for an Actuary or Sr. ERM Consultant position. The actual internal level/grade and compensation for this role will depend on the candidate’s geographic location, overall experience and skill level.

• Bachelor’s degree or higher in Mathematics, Actuarial Science, Statistics, Finance, Economics, or similar required.
• Minimum of 5-7 years Actuarial experience along with ACAS or FCAS required for Actuary.
• Minimum of 8-10 years risk management related experience required for Sr. ERM Consultant.
• Delivery focused, with high energy and drive, with proven ability to deliver through others.
• Substantial experience within the insurance industry is essential.
• Microsoft office skills for Excel, Word, and PowerPoint essential.
• Some experience of PowerBI (or other visualisation tools) preferable. 
• Proactive knowledge and interest in emerging and systemic risk, and emerging insurance industry trends.
• Advanced analytical skills and sound commercial judgement
• Ability to understand complex issues, explain succinctly, and act decisively. 
• Logical mind-set, and able to translate detail into big picture, be proactive, result focussed and efficient.  
• Ability to proactively lead work, including discrete projects.
• High level of personal confidence, with ability to lead through influence and persuasion.
• Stakeholder management and relationship skills - to build relationships with a range of stakeholders at different levels of the business and communicate effectively. 
• Project management skills – to deliver change within areas of responsibility.

At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That's why we provide an environment focused on openness, inclusion, trust and respect. Here, you'll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession.

Liberty Mutual has proudly been recognized as a "Great Place to Work" by Great Place to Work® US for the past several years. We were also selected as one of the "100 Best Places to Work in IT" on IDG's Insider Pro and Computerworld's 2020 list. For many years running, we have been named by Forbes as one of America's Best Employers for Women and one of America's Best Employers for New Graduates as well as one of America's Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: https://jobs.libertymutualgroup.com/diversity-inclusion

We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits

Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.