Director, Product Management (Casualty Modeling / Insurance) (12782) Newark, California
The RMS Model Product Management team is responsible for defining RMS’ catastrophe model development agenda to meet market demand, ensuring commercial success of the models, and providing the outbound communication with our client base.
RMS has a need to hire a Product Manager for all casualty-related model products. This position could be located in either our headquarters in Newark, CA or in our major hub office in Hoboken, NJ. The primary focus of the position will be supporting the RMS casualty-related model agenda, which spans a range of products, including our models which produce Workers’ Comp loss and other injury-related loss due to natural hazard, and terrorism. There will also be a substantial role in leading the requirements for the casualty-related features of RMS(one), the world’s first enterprise-class risk management platform, which is currently under construction with an initial release date in 2014.
This is an exciting opportunity for someone with a genuine interest in business applications of scientific and engineering based applications. Model Product Managers combine market and technical knowledge to create world-class products; the role provides an excellent opportunity to be involved in many aspects of RMS’ core business. Responsibilities include: Gathering client feedback and market information, defining product/model requirements and scope, developing validation and release plans, creating and participating in Product Acceptance Testing to ultimately sign off on a product’s suitability for release, producing relevant literature and presentation material about models, supporting sales opportunities and client model-related support requests, establishing cross-discipline interactions.
To carry out these responsibilities, Product Managers must:
- Become the ‘voice of the client’ around model utility and industry/scientific credibility.
- Engage with and explore how key clients use and interpret RMS models. Gain a deep understanding of customer business practices and strategic priorities.
- Translate the understanding of client needs into technical requirements that define new products and/or refine existing RMS models.
- Collaborate internally with RMS model developers and the Model Certification group in order to define model methodologies, calibration routines and appropriate model outputs.
- Manage the entire model product life-cycle from outline design to final calibration and product launch.
- Be a subject matter expert in assigned products; able to take issues that escalate from the routine product support system and lead the company to awareness of product strengths and weaknesses and the proper strategy to insure product success.
Overall, a candidate must have experience and/or education that would enable them to bring together an understanding of market needs and demands with the technical realities of model development. As such a candidate could have several different combinations of skills, but must demonstrate the ability to link and communicate information in order to make solid product decisions and explain them to highly sophisticated audiences. Qualifications could include combinations of the following:
- Insurance industry experience in casualty lines of business. U.S. Workers’ Comp knowledge is of particular value.
- Product Management experience in the software, financial services, or other technical industries.
- Experience in the use of catastrophe models, e.g. hands-on use, use of derivative information in pricing, underwriting or capital management. Experience in the property catastrophe specialties of a primary insurer, reinsurer or reinsurance broker is highly desirable.
- Strong technical competency that would establish credibility with external clients and with internal model developers. An advanced degree in a relevant science or quant field would be advantageous.
- Significant exposure to, or practice at, scientific/mathematical modeling, particularly in a financial services environment.
- Excellent communication skills both verbally and written
- Strong negotiation, collaboration and influence management skills
- Strong listening skills with demonstrated expertise in generalizing and synthesizing feedback as well as audience sensitivity in presenting/sharing information with others.
Founded in 1989 as a spinoff of research done at Stanford University, today RMS is the world leader in catastrophe risk modeling. From earthquakes, hurricanes, and floods to terrorism, longevity, and infectious diseases, our models provide critical risk management solutions to financial institutions around the world. Based in our Silicon Valley headquarters and with offices throughout North America, Europe, and Asia, our team of more than 950 professionals may be larger than it used to be, but we"re still as ambitious and innovative as ever. Whether quantifying risks due to climate change, simulating how medical breakthroughs could extend life expectancy, delivering supercomputing in the cloud, or transforming an industry with our next generation technology platform, our passion is innovation driven by the courage to tackle problems others reject as unsolvable. At RMS, we believe the result of deeper knowledge is positive change. Our ultimate goal is to create a more sustainable and resilient world through a better understanding of catastrophic events. To find out more, visit www.rms.com. RMS is proud to be an equal opportunity employer.