Theresa Patricios

• Job duties as per below

• Responsible for day-to-day management of Convex’s group investment portfolio, group and entity-level investment strategy and asset allocation, selecting managers and overseeing due diligence reviews
• Lead development of group and entity-level investment strategy, selecting managers and overseeing due diligence reviews
• Lead discussions on all investment-related matters with Group Investment Committee and external stakeholders (e.g rating agencies)
• Responsible for overseeing strategic and impact investments to help enhance franchise value
• Member of ESG working group, driving impact and sustainable investing for Convex group
• Member of finance executive committee and capital and liquidity committee

Key achievements:

• Successfully hired and developed high performing team of 7
• Developed investment, liquidity and financial market risk frameworks from scratch

Quotech is an underwriting and broker digital workbench which ingests data from multiple sources to provide a single source of truth in an efficient and streamless manner. I am the investor director to monitor business performance and provide strategic guidance.

• Joined a team of 8 people as the Chief Financial Officer, responsible for financial planning, capital and cashflow management and leading capital raising initiatives
• Responsible for developing the company’s share incentive scheme and assisting the CEO with business and product development

Key achievements:

• Supported CEO in developing and retaining talent across multiple jurisdictions
• Led development of an employee incentive share scheme structure to retain key staff

• Leadership role managing a team of four people in Zurich and Bermuda
• Responsible for efficient allocation of investments across XL Group’s legal entities, allowing for regulatory, capital, liquidity and accounting constraints
• Co-lead the annual investment budgeting for the Group and key legal entities in close collaboration with Finance
• Centre of expertise for investment-related aspects of regulatory and rating agency capital models
• Presenting the quarterly investment report to legal entity boards and annual budget to senior management
• Establish legal entity investment guidelines, risk limits and benchmarks in accordance with entity requirements and local regulation
• Support CIO during quarterly close including review of financial and accounting results and preparation of questions and answers for earnings calls
• Draft regulatory and rating agency submissions and presentations

Key achievements:

• Developed the new product approval process and derivative guidelines at Group level, working closely with senior management and key stakeholders in delivering the final product
• Integral participation in an eighteen-month project to roll-out a new investment operating system (Aladdin)
• Took lead role in a three-month project to harmonize investment data structures across the systems
• Successfully integrated the steering and reporting teams after departure of the reporting head

• Leadership role (appointed in Sept 2013) managing Steering and Reporting team (five people)
• Analysis of the Group’s investment portfolio across its peer group and projecting quarterly returns
• Allocation of investment mandates to legal entities in an optimal manner
• Define and implement legal entity risk limits and constraints
• Lead the annual investment budget and project annual return and risk from different scenarios
• Analyze output from financial risk team’s stochastic model and apply results to investment forecast
• Monitor and manage investment risk usage at legal entity level and propose actions to Investment Committee to remain compliant
• Work closely with front desk to assess optimal hedging strategies
• Manage legal entity relationships and present monthly investment reports to senior management
• Prepare presentations to internal and external stakeholders, including rating agencies and regulators

Key achievements

• Successfully hired and developed a team of four investment professionals from scratch, covering both investment steering and reporting
• Lead the development of a comprehensive and coherent investment reporting database (Access) to automate investment reports
• Took investment lead in emerging risk project, working closely with Cambridge team to quantify investment impact from various emerging market risk scenarios

• Lead coordination of due diligence process for longevity transactions from the investment side and establish appropriate guidelines post acquisition
• Derive entity level liability-based benchmarks
• Legal entity relationship manager for European and South African legal entities

Key achievements

• Integral involvement in conceptual work to develop an economic value measurement framework
• The due diligence co-ordination was an added responsibility over and above my defined job

• Structure and price non-traditional reinsurance contracts (multi-year treaties and run-off deals)
• Harmonize non-traditional and traditional pricing methodologies
• Contribute to the wider Swiss Re Group projects and industry relevant issues

• Lead annual reserving process and propose IBNR reserves to senior management
• Analyze plausibility of underwriters’ estimates of expected technical profit including business planned for forthcoming year
• Support the pricing of more complex deals
• Train underwriters in fundamentals of underwriting and in the use of pricing tools
• Set pricing parameters (expenses, profit loadings and capital costs) coherent with the business plan

Key achievements

• Appointed head of the non-life actuarial team in June 2004, following my actuarial qualification
• Led the successful rollout of the new Group financial reporting system for the South African subsidiary, which entailed a three-month assignment in Zurich in January 2004, working closely with the Group Finance team.

• Client relationship management for South African and select sub-Saharan countries
• Price traditional reinsurance treaties (Property and Casualty lines)
• Negotiate underwriting terms and conditions with clients and brokers
• Assist in developing pricing tools (excel-based)
• Calculate annual IBNR reserves and lead economic value reporting