Extreme weather events are anticipated to become more frequent and more severe due to climate change. This poses a challenge to both insurers and policyholders, who can expect larger losses and higher premiums. The key question is whether the risk will remain insurable in the future. This PhD project focuses on the role of financial products in the management of climate change risks. The ultimate aim of this project is to show how financial products (either new or existing ones) can be used to safeguard the insurability of extreme weather risk. Are you interested in developing and pricing financial products for climate change risk management? Then this position may just be the one for you!

As one of the PhDs in the section Financial Engineering, you will work within the High-Tech Business and Entrepreneurship (HBE) department.

• A MSc degree in a relevant field, such as financial engineering, actuarial science, mathematics, or econometrics;
• Confirmed skills for modeling, programming, and handling large data sets;
• Dedicated teammate in a hardworking group of scientists;
• Excellent communication skills and proficient in written and oral English;
• Able to do independent research and willing to build on writing and publication skills.

We encourage high responsibility and independence, while collaborating with colleagues, researchers, other university staff and partners. We follow the terms of employment by the Dutch Collective Labour Agreement for Universities (CAO). Our offer contains: a fulltime 4-year PhD position, excellent mentorship in a stimulating research environment with excellent facilities, and a personal development program within the Twente Graduate School. It also includes:

• Gross monthly salary of € 2.541 in the first year, rising each year up to € 3.247 in the fourth year;
• Holiday allowance of 8% of the gross annual salary, and an end-of-year bonus (8.3%), 29 holidays per year in case of full-time employment;
• Employee status at the UT, including a pension scheme and health care benefits. UT is an equal opportunities employer.

The High-tech Business and Entrepreneurship (HBE) department is part of the Faculty of Behavioural, Management, and Social Sciences (BMS). HBE holds a leading position at the interfaces of business, technology, and the social sciences. In our ground-breaking research and novel education programmes, we strive for making an impact in business and healthcare by conducting cross-disciplinary research. We combine various themes such as smart industry, supply chain management, transportation and logistics management, innovation management, healthcare operations, technology-based entrepreneurship, purchasing and supply management, cyber security, financial engineering, HRM, change management, and leadership.

The HBE department is dedicated to encouraging a supportive and inclusive working culture. Our aim is that all job applicants are given equal opportunities. When we select candidates for employment, it will be on the basis of their competence and ability. To support the workforce diversity, we are open to offer flexible working conditions on an individual basis to support work-life balance, that may include contract of employment, working hours and location, or child care arrangements.

Please have a look at our video to learn more about our department

The High Business Entrepreneurship corporate video can be watched via this link.