FM Global: Research Co-op Techno-Economic Analysis for Equipment Risk

Company Overview

FM Global is a premier property insurer for the world's largest businesses, catering to over one-third of FORTUNE 1000-size companies. We offer engineering-based risk management and property insurance solutions, helping clients ensure business continuity through advanced loss-prevention engineering, cutting-edge research, robust risk management skills, tailored risk transfer solutions, and superior financial strength. Our diverse team operates in more than 100 countries, tackling a variety of challenging roles.

Job Description: Internship/Co-op Opportunity

We are seeking an intern or co-op student to contribute to the development of physical and software setups in our Industrial Internet of Things (IIoT) lab. This role promises educational and research value through hands-on experience and diverse lab activities.

Responsibilities

Based in Norwood, MA, the student will join the Equipment Risk and Reliability team at FM Global Research for a 6-month assignment in 2024. Under the guidance of the project lead, the student will:

• Conduct Techno-Economic Analyses to evaluate the economic performance of industrial processes, products, or services, focusing on risk differentiation and improvement. Possible project topics include:
  • CapEx and OpEx modeling and analyses, with a specific interest in wind and solar technologies.
  • Operations modeling in factories, focusing on sectors such as power generation, pulp and paper, chemical/pharma, semiconductor, mining, manufacturing, food/beverage, and warehouse/logistics.
  • Supply chain modeling and analyses.
• Develop innovative ideas from modeling and analysis, consulting with the project lead and internal subject matter experts.
• Execute tasks effectively and efficiently as planned and prioritized.
• Prepare detailed technical reports and memos, summarizing research findings, model outcomes, and recommended strategies for risk improvement.

Qualifications

To be considered for this opportunity, candidates should:

• Be pursuing a graduate degree in techno-economic analysis, operations research, industrial engineering, system engineering, applied mathematics, statistics, or related fields.
• Possess strong knowledge and experience in advanced data modeling and analysis using statistical methods and algorithms such as optimization.
• Have experience in data analytics, particularly in machine learning and AI, is highly desirable.
• Be proficient in tools such as Python, R, AMPL, and Crystal Ball.
• Experience in Pareto charts, OEE analysis, and automation process simulation software such as Arena/Siemens PLM is desirable.
• Have engineering knowledge in mechanical, power/electrical, robotics, and automation engineering, including equipment design, operation, maintenance, testing, and inspection, as well as supply chain knowledge.
• Demonstrate strong self-drive, ability to work under general guidance, and exceptional attention to detail.
• Possess excellent verbal and writing skills for effective communication with internal colleagues, supervisors, external customers, collaborators, technology providers, and vendors.
• Exhibit strong problem-solving skills and a results-driven mindset.

Equal Opportunity Employer

FM Global is an Equal Opportunity Employer committed to attracting, developing, and retaining a diverse workforce.

Company Information

Company Name: Factory Mutual Insurance Company

Job Title: Research Co-op Techno-Economic Analysis for Equipment Risk