Chief Risk Management Officer - CCRIF SPC
ABOUT CCRIF SPC
In 2007, the Caribbean Catastrophe Risk Insurance Facility was formed as the first multi-country risk pool in the world, and was the first insurance instrument to successfully develop parametric policies backed by both traditional and capital markets. It was designed as a regional catastrophe fund for Caribbean governments to limit the financial impact of devastating hurricanes and earthquakes by quickly providing financial liquidity when a policy is triggered.
In 2014, the facility was restructured into a segregated portfolio company (SPC) to facilitate offering new products and expansion into new geographic areas and is now named CCRIF SPC. The new structure, in which products are offered through a number of segregated portfolios (SPs), allows for total segregation of risk. In April 2015, CCRIF SPC signed an MOU with COSEFIN - the Council of Ministers of Finance of Central America, Panama and the Dominican Republic - to enable Central American countries to formally join the facility.
CCRIF currently offers earthquake, tropical cyclone and excess rainfall policies to Caribbean and Central American governments. The facility helps to mitigate the short-term cash flow problems small developing economies suffer after major natural disasters. CCRIF’s parametric insurance mechanism allows it to provide rapid payouts to help members finance their initial disaster response and maintain basic government functions after a catastrophic event.
Working under the supervision of the CEO, the chief risk management officer (CRMO) is responsible for providing technical leadership and advice to the management and board as it relates to the areas of risk management, financial planning, catastrophe modeling, and (re)insurance placement. This position will therefore seek to provide technical input and review as well as act as an independent evaluator to the work two of CCRIF’s main service providers – the Risk Management Specialist (RMS) and the Placement Broker. This functionary will enable CCRIF to take stronger ownership of the risk and risk evaluation process and provide the strategy input from CCRIF’s perspective thus improving ownership of strategic decisions on models and result interpretation. The CRMO will play a lead role in ensuring the integrity of CCRIF’s models and its products in order to ensure the company´s solvency and liquidity standards.
The CRMO is expected to have a graduate degree and professional qualification in insurance, cat modelling or actuarial science or related field with at least ten years relevant experience of which a minimum of five years should be at a senior level. The successful candidate must have excellent English speaking and writing ability. Spanish speaking and writing competence would be an asset.
Applications must be submitted no later than
April 11, 2018 Extended to: May 11, 2018
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