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Job Information

USAA P&C Catastrophe Risk Management Executive in Phoenix, Arizona

Why USAA?

Let’s do something that really matters.

At USAA, we have an important mission: facilitating the financial security of millions of U.S. military members and their families. Not all of our employees served in our nation’s military, but we all share in the mission to give back to those who did. We’re working as one to build a great experience and make a real impact for our members.

We believe in our core values of honesty, integrity, loyalty and service. They’re what guides everything we do – from how we treat our members to how we treat each other. Come be a part of what makes us so special!

As the P&C Catastrophe (Cat) Risk Management Executive you will serve as a key advisor responsible for recognizing and reporting strategic and aggregate risks across the Property and Casualty (P&C) business while advancing the Enterprise Risk Management function for aggregation, quantification, and qualification of risks. The Cat Risk Executive will be the primary point of contact within the second line of defense (ERM) for insurance risk. Strong partnership with the first line of defense will be a key to success in both a consultative and review / challenge relationship. The Cat Risk Executive will have exposure to boards and members of executive council and will be responsible for the aggregation and reporting of risks to senior leadership, in addition to working with those same individuals to effectively assess and influence business decisions and direction. Partners with other officers within the Chief Risk Office organization to influence and set strategy for advancement of the risk management framework. In doing so, this individual will set direction for a multitude of risk management programs and oversee the delivery of those programs across the line of business.

We offer a flexible work environment that requires an individual to be in the office 4 days per week. This position can be based in one of the following locations: San Antonio, TX, Plano, TX, Phoenix, AZ, Colorado Springs, CO, Charlotte, NC, Chesapeake, VA or Tampa, FL.

The Opportunity

What you’ll do:

  • Engages in senior leaders’ strategy discussions, real-time evaluations of risks, and effective challenge to ensure safety and soundness of the P&C business and accomplishment of objectives.

  • Establishes a best-in-class Risk Management framework to ensure comprehensive oversight and management of risks across the full risk taxonomy consistent with the expectations of insurance regulators and the FRB Framework for the Supervision of Insurance Organizations. Ensures the risk aligns within appetites tolerances and strategic goals, product plans, forecasts, and adjusts to variances.

  • Provides oversight, guidance, and insight across the full range of risk exposures – insurance risk, financial risk, operational risk, compliance risk, strategic risk, underwriting, capital markets, and regulatory risks. This includes effective challenge and oversight across all P&C areas, such as claims, pricing, reserving, segmentation, underwriting, and state requirements.

  • Provides oversight and effective challenge to key P&C functional areas such as claims, underwriting, pricing, distribution, strategy, state management (Property and Auto), agency, and modernization.

  • Maintains a long-term view of how risk systems should be adapted and integrated to maximize the ability to manage risk in an environment shaped by regulatory change and disruptive, emerging technologies.

  • Ensures effective and appropriate policies, procedures, and controls are in place supporting all risk processes, systems, strategies, and implementations.

  • Establishes trust and rapport with senior business leaders to sustain oversight of the second line risk role. Partners with the senior risk executives in managing overall risk appetite to include the identification and definition of key methods, metrics, and limits.

  • Partners across Risk Management, Finance, and the business while effectively challenging variances to plan and strategies to mitigate. Provides advice to other key business partners and drive key decisions assessing risk and reward through effective challenge.

  • Actively engages line of business leaders to ensure all risks are appropriately addressed consistent with policy and the Risk Appetite.

  • Liaises with Compliance and Chief Legal Office on legal and regulatory considerations that impact business operations and product offerings in accordance with federal and state regulations.

  • Liaises with Compliance and CLO to influence sound governance structure for oversight of risks and business operations.

  • Keeps abreast of P&C industry developments, changes in the regulatory requirements and leading-edge risk management techniques while keeping senior management apprised of changes and developments.

  • Builds and oversees a team of employees for assigned functional area through ongoing execution of recruiting, development, retention, coaching and support, performance management, and managerial activities.

What you have:

  • Bachelor's degree OR 4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree.

  • 10 or more years of related Property and Casualty business risk experience developing risk management strategies, managing major initiatives, and delivering results in a large financial institution or Property and Casualty organization.

  • 4 or more years of people leadership experience in building, managing and/or developing high-performing teams.

  • Experience implementing an enterprise-wide risk management program that adheres to regulatory requirements and expectations.

  • Significant knowledge of risk frameworks including risk governance; risk appetite; process, risk and control analysis; control effectiveness measurement; risk management coverage plan (monitoring, assessment and testing).

  • Demonstrated ability to influence at senior levels within an organization.

  • Proven capability to communicate effectively across the 1st and 2nd Lines of Defense and build collaborative relationships.

  • Strong written and oral communication skills, including the ability to communicate complex analyses to a non-technical audience.

  • Strong problem-solving, critical thinking and analytical skills.

  • P&C industry knowledge and experience.

  • Competency in core P&C objectives, including but not limited to consistent and profitable growth, capital adequacy, effective insurance operations, reinsurance, reserving.

  • Competency in core P&C functions, including but not limited to claims, underwriting, pricing, distribution, strategy, state management (Property and Auto), agency, modernization.

  • Knowledge of P&C specific industry developments, regulatory requirements, and risk management techniques.

General understanding of federal laws, rules, and regulations, to include:

  • Solvency II (International Insurance Regulatory Regime); NAIC Model Law Process; FRB Framework for the Supervision of Insurance Organizations; Texas Insurance Code; Laws, Rules, and Regulations related to insurance companies; New York Insurance Law; Dodd-Frank Act.

Federal regulations and supervisory guidance:

  • Certain Federal Reserve SR Letters.

*Laws and Regulations for illustrative purposes. Roles would need an understanding of all federal and state laws and regulatory guidance applicable to the organization and responsibilities of the role.

What sets you apart:

  • Deep experience leading catastrophe risk and/or catastrophe management in a large property and casualty insurance company or broker.

  • Deep experience across property catastrophe perils impacting the United States.

  • Deep experience with catastrophe management tools, including catastrophe models and exposure analysis tools.

  • Experience with risk mitigation solutions, including catastrophe reinsurance.

  • P&C pricing and/or reserving experience.

  • Subject matter expertise in personal lines homeowners insurance products.

  • Actuarial background.

What we offer:

Compensation:

USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market position. The salary range for this position is: $ 163,880.00 - 294,980.00.

Employees may be eligible for pay incentives based on overall corporate and individual performance or at the discretion of the USAA Board of Directors.

Long Term Incentive Plan: Cash payment for Executive level roles only, representing a cash payment which is both time and performance based.

Benefits:

At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.

For more details on our outstanding benefits, please visit our benefits page on USAAjobs.com.

Applications for this position are accepted on an ongoing basis, this posting will remain open until the position is filled. Thus, interested candidates are encouraged to apply the same day they view this posting.

USAA is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

If you are an existing USAA employee, please use the internal career site in OneSource to apply.

Please do not type your first and last name in all caps.

Find your purpose. Join our mission.

USAA is unlike any other financial services organization. The mission of the association is to facilitate the financial security of its members, associates and their families through provision of a full range of highly competitive financial products and services; in so doing, USAA seeks to be the provider of choice for the military community. We do this by upholding the highest standards and ensuring that our corporate business activities and individual employee conduct reflect good judgment and common sense, and are consistent with our core values of service, loyalty, honesty and integrity.

USAA attributes its long-standing success to its most valuable resource: our 35,000 employees. They are the heart and soul of our member-service culture. When you join us, you'll become part of a thriving community committed to going above for those who have gone beyond: the men and women of the U.S. military, their associates and their families. In order to play a role on our team, you don't have to be connected to the military yourself – you just need to share our passion for serving our more than 13 million members.

USAA is an EEO/AA Employer - applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, protected veteran status or other status protected by law.

USAA is an EEO/AA Employer - applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, protected veteran status or other status protected by law.

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