General Description of Weather Senior Scientist

Global Parametrics is accepting applications for a Weather Senior Scientist.

 

Date posted

Nov. 19, 2019 12:00 am

Application deadline

Jan. 19, 2020 12:00 am

Organization

Global Parametrics

Location

  • United States

Job description

 General Description of Weather Senior Scientist 

Background Information on Global Parametrics
Global Parametrics is a commercial enterprise with a social mandate which aims to develop financial disaster risk management solutions to counter the risk of natural disasters in low-and-middle-income countries (LMICs). GP aims to lead the market in providing access to sustainable risk transfer services by bringing together climate and seismic sciences, financial engineering and risk-taking capacity to offer tailored solutions to those investing in efforts to aid the poor and vulnerable. GP should also be positioned to develop effective indexes that can be replicated on a global scale. 

GP’s “integrated supply chain” business approach incorporates the following key core business functions: proprietary risk models, a specialized financial structuring and origination function, a fund manager (GPL) and patient risk capital (via NDF (UK) LP (the NDF). Therefore the financial sustainability of the company relies on the capacity to originate, structure and commit risk capital for financial solutions worldwide across LMICs, as well as its capacity to monetize its intellectual property beyond the insurance/ILS sector. 

GP Science and Technology
At the centre of Global Parametrics is a proprietary global risk hazard platform (the GP Platform) which sources publicly available climate and seismic data, cleans and sorts such data into usable datasets and then models and prices the risk of the occurrence of specific natural disasters (drought, tropical cyclone, earthquake, flood etc) in any geography in the world. Global Parametrics business strategy considers the possibility of selling data/models generated by the GP Platform and to offer associated advisory services to third party clients to help them in the development of financial disaster risk management solutions. 

With regards to the specific product class of parametric weather products,  the assessment of the frequency and severity of significant events mostly relies on historical weather data simulated using Global Circulation Models (GCMs). While GCMs are numerous, GP has been working historically with a subset of models that have the statistical consistency and accuracy required for generating outputs suitable for risk transfer, namely National Centers for Environmental Prediction (NCEP) Coupled Forecast System (CFS2), Japanese Meteorological Agency (JMA) Japanese 55-year Reanalysis (JRA55), NCEP Global Forecast System (GFS), Global Advanced Weather. GP is also working on a proprietary run of MPAS. For future development of these suite of products, GP is looking to engage in a more active effort of benchmarking the current generation of products vs what other alternatives could be available in the market given the significant amount of innovation in the modelled weather data in this space. 

In terms of future product development capabilities GP envisions developing a mature and reliable weather data framework that incorporates hindcast, live reporting, and forecasting capabilities for contracting and triggering contracts. 

Sales
GP’s market approach is distinctly different than other efforts. GP is targeting the firms and institutions, non-profits (NGOs) and government bodies that invest in and provide services to communities in LMICs.

NDF
Through the establishment of NDF (UK) LP (or The Natural Disaster Fund (the NDF)) which is managed by the Global Parametrics team, Global Parametrics is able to utilise data generated by the GP Platform or external third party corporate partners to offer parametric risk transfer instruments (principally in the form of derivative contracts) to third parties seeking to invest in/otherwise with exposure to LMICs. 

Ideal Professional Experience
GP considers two different professional tracks that could be attractive for interviewing: 

  • Weather/Energy trading or structuring background. Professionals with a strong record of structuring weather products in key markets like energy, agriculture, renewable energy
  • Strong academic career in generating weather simulated data using several GCMs and other hybrid methodologies including the use of satellites. 

Responsibilities 

  • Develop risk transfer products/services for GP’s client needs with a focus on weather-driven phenomena, such as drought, crop stress, food security, extreme rainfall, hydrology, extreme temperature, wind, etc. For a given product need, functions will generally include:
    • Work with the technical and sales teams to determine product parameters to meet client/project needs
    • Develop plan for product delivery including timelines and resource needs
    • Execute technical product development utilizing the array of weather and other related data inputs within GP’s risk hazard platform and also bringing in other outside data & models when needed
    • Maintain active engagement with client to collect needed data and tailor product to meet needs
  • Work closely with clients and GP management to help define near and medium-term product and systems development goals and planning
  • Support origination efforts across all business lines with a potential weather component
    • Building networks of client and strategic partner organizations
    • Developing materials for client meetings from high level pitches to technical analyses
    • Developing internal materials for executing a transaction (i.e. development memos, investment memos)
    • Post-deal client management and support
  • Support broader scientific initiatives led by GP technical team, including:
    • Develop a data-sets inventory of available data sets potentially suitable for GP business.
      • Develop a constraint analysis of limitations and constraints of third-parties data sets for current and envisioned GP products.
    • Evaluate of the need of running physical models in-house, and the derived needs in terms of human and computational resources.
    • Developing novel physics-based, statistical, and probabilistic risk models
    • Implementing models developed by GP or GP partners (e.g., flood, drought, crop stress)
      • Develop an implementation strategy for selected models, whether in-house or not.
    • Technical review of existing GP or GP partner models, in particular the proprietary MPS run. 

LOCATION
The position is full time and will be based in Europe (need to be within commuting distance from London in order to be able to take on some operational responsibilities that can only be formalized while in London due to regulatory requirements that govern the capabilities of GP to make financial offerings directly from its London operating company). Location is important because the Sr Scientist is expected to gain a role in terms of supporting the investment decisions for the NDF and potentially becoming one of the CF30 certified professional to make investment decisions. 

The position will require international travel to support the business origination efforts in all relevant GP business lines with a potential parametric weather component. 

RENUMERATION
Competitive with sector 

REPORTING 
Reports to the CEO. 

APPLICATION MATERIALS 
Interested candidates should send CV and cover-letter to hibarra@globalparametrics.com and careers@globalparametrics.com 

ADDITIONAL INFORMATION
GP is comprised of scientists, engineers, development-oriented finance professionals, economists and more working to build a platform offering parametric risk transfer products globally for natural catastrophes and climate risk, with an emphasis on low- and middle- income countries. If you are interested in climate change, building resiliency, development economics and natural catastrophe risk management, then you're reading the right job posting. 

NOTICES
Global Parametrics reserves the right to amend or vary any part of this terms of reference and/or the position, to cancel all or any part of the process set out in this document at any time and to appoint any person to fill the role described herein. 

Global Parametrics is an equal opportunities employer and welcomes applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age. 

Global Parametrics is committed to safeguarding the privacy of persons submitting applications to it. For information about how Global Parametrics processes data please refer to the privacy notice set out on our website at www.globalparametrics.com.