REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES – INDIVIDUAL SELECTION)

Disaster Risk Model Development Specialist

Country: Cayman Islands
Project: Central America and Caribbean Catastrophe Risk Insurance Program Project (P149670)
Grant No.: TF0A5343
 
Assignment Title:  Consulting Services for an Individual Consultant to be assigned the role of Disaster Risk Model Development Specialist

Reference No: CCRIF -232798-CS-INDV
 
The Disaster Risk Model Development Specialist (herein referred to as ‘the Consultant’), working under the supervision of the Chief Risk Management Officer (CRMO), shall be responsible for the following tasks:

• Coordinating all (external and internal) disaster model development and improvement activities;
• Participating in setting objectives and scope for research and development in the short and medium term;
• Participating in the development of new tools for clients, understanding and visualizing risk;
• Supporting the CCRIF and CCRIF clients in interpretation of modeled results such as disaster risk profiles and in stress-testing of models;
• Working with the CRMO and modeling team on customization and modification of catastrophe models for bespoke applications;
• Supporting the CRMO in risk management quantifications, special DFA analysis, portfolio optimization, and accumulation control;
• Supporting the CRMO in the review of model performance in specific events;
• In cooperation with management and other service providers, the Consultant will prepare technical studies, reports, papers and presentations that will enhance knowledge of disaster risk management; insurance mechanisms and adaptation financing, the economics of climate change adaptation and the role of risk transfer in helping to address disaster risk reduction;
• Providing support in provision of educational and outreach activities and represent CCRIF at meetings, forums, workshops etc. Where necessary, providing input to CCRIF publications;
• Supporting the CRMO in preparation of annual renewals; and
• Performing other duties requested by the CRMO.

Experience and Qualifications

The Consultant must possess:
 

• A Postgraduate degree from an accredited university in actuarial sciences, engineering, geophysics, meteorology, economics, risk management, insurance, analytics or a related field;
• At least 5 years of professional underwriting, risk modelling or other relevant experience in the insurance industry with knowledge of disaster risk management and finance principles;
• At least 7 years of proven experience in development or application of catastrophe loss models;
• Experience in developing and peer reviewing catastrophe loss models with a focus on the design of parametric insurance products. Capable of formulating constructive criticism and proposing creative solutions to overcome model shortcomings;
• Expertise in actuarial applications related to pricing and portfolio analysis, accumulation control and quantification of risk transfer as well as DFA analysis;

The Consultant is expected to be a professionally mature individual, with the ability to function with considerable independent initiative, managerial skill, and sound judgment.  

Competences required:

• Strong people management skills;
• Ability to work independently;
• Ability to schedule work and deliver to tight deadlines and use personal initiative;
• Proven ability to work and multi-task under pressure, respond quickly to changing situations in a complex working environment, and prepare responses/narrative quickly and clearly;
• Excellent oral and written communication skills in English. Spanish speaking and writing competence would be an asset;
• Strong analytical skills in order to identify programmatic and conceptual issues and challenges and recommend and develop viable and sustainable solutions;
• Skills to communicate complex ideas effectively;
• Proven record of high performance and substantial achievements in past positions;
• Flexibility to work irregular schedules in order to accommodate coordination with global partners and team members across varying time zones.

The is a short-term contract ending on December 31, 2021, with possibility of extension of up to eighteen months. The assignment is expected to commence in June 2021 upon execution of the contract. The assignment will start upon execution of the contract and will require daily dedicated support to December 31, 2021.

The detailed Terms of Reference (TOR) for the assignment can be found below.

The attention of interested Consultants is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” July 2016 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.   

The Consultant will be selected following the World Bank Procurement Regulations on Open Competitive Selection of Individual Consultants.

Further information can be obtained at the address below. Expressions of interest must be delivered in writing or by e-mail to the address by July 1, 2021 at 23:45 Cayman Islands time.

CCRIF SPC
Subject Line - CCRIF -232798-CS-INDV
Attn: Isaac Anthony, Chief Executive Officer
Registered Office: c/o Sagicor Insurance Managers Ltd., 198 North Church Street
2nd Floor, Sagicor House, P.O. Box 1087, Grand Cayman, KY1-1102, Cayman Islands

Email: procurement@ccrif.org