JPMorgan Offers $400k–$1M Packages to Attract Climate Risk Experts
JPM•JPMorgan Chase & Co. has begun recruiting catastrophe-modeling experts to enhance climate risk management, joining peers offering packages ranging from $400,000 to $1 million. The global pool of fewer than 2,000 insurance-linked securities specialists is driving competition and premiums in weather risk modeling.
1. JPMorgan's Climate Risk Hiring
JPMorgan has launched a recruitment drive for catastrophe-modeling professionals skilled in hurricane, wildfire, flood and cyber risk scenarios to strengthen its climate risk assessment and capital allocation processes.
2. ILS Talent Shortage and Compensation
The global inventory of insurance-linked securities modelers is estimated at under 2,000 specialists, prompting financial firms to offer annual pay packages from $400,000 to as much as $1 million for top weather risk analysts.
3. Implications for JPMorgan
By securing advanced modeling talent, JPMorgan aims to refine tail-risk pricing, reduce potential losses from extreme events and enhance overall resilience and risk-adjusted profitability.
