SUMMARY
Responsible for managing and coordinating day-to-day office operations and workflow of actuarial unit. Manage, motivate and develop actuarial staff. Exchange information with staff and offer assistance in addressing workflow needs. Manage all resources associated with the actuarial unit including performing advanced actuarial analyses, developing appropriate recommendations, communicating with business partners, managing department workload and priorities, and maintaining efficient processes. Aid department leadership in strategic planning.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
- Perform actuarial analyses for pricing, loss reserving, product development, reinsurance, capital management, and/or other financial or business purposes. Communicate effectively, make recommendations, and present findings to appropriate audiences.
- Prepare commentary for senior management regarding profitability trends and their causes.
- Work with various business units to help create and drive strategic plans and metrics.
- Monitor premium and loss ratio projections and communicate status to business units and senior management.
- Act as a liaison to Finance and assist in annual profit planning process and expense forecasting as necessary.
- Participate in loss reserve analyses and monitor quarterly reserve levels.
- Present loss reserve analysis to senior management and identify key assumptions underlying results.
- Monitor profitability of various segments and make recommendations to take corrective action as necessary.
- Monitor resulting action plans.
- Help design, enhance, and maintain pricing, reserving, reinsurance and forecasting models.
- Represent Actuarial on corporate projects as needed.
- Provide support and peer review to the Capital Modeling team and the Capital Allocation process.
- Work with the Enterprise Risk Management team on identifying on monitoring risks.
- Serve on actuarial committees for rating bureaus, providing valuable input into their process.
- Perform advanced special projects as needed.
- Provide guidance, training and leadership to employees and mentor actuarial analysts.
- Assure appropriate level of documentation regarding actuarial department and procedures.
- Ensure efficient and effective use of company resources, evaluate processes and procedures, and develop new procedures.
- Assist in the creation of a department strategic plan that supports corporate initiatives.
- Regularly communicate issues or progress to department leadership.
- Adhere to deadlines, ensure work is completed on a timely basis.
- Participate in development of annual department budget.
- Act as a subject matter expert for communication used for the parent and board of directors. Ensure that all material produced is of utmost quality, is internally consistent, and is completed in timely manner.
- Institute a peer review process for critical deliverables and provide peer review support for other processes as requested.
- Maintain confidentiality of information processed as appropriate.
- Maintain good standing with the Actuarial Society, complete annual CE requirements and attest as required, and follow the Code of Professional Conduct and all relevant actuarial standards of practice.
EDUCATION AND EXPERIENCE:
- Bachelor’s degree required, preferably in actuarial science, mathematics, or a related area.
- Associate designation in the CAS or SOA, and pursuit of Fellow designation preferred.
- Minimum of five (5) years of property and casualty actuarial experience required
- One year supervisory, or functional lead experience, or combinations of related training and experience required.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
OTHER SKILLS AND ABILITIES
- Advanced knowledge of actuarial principles and practices in one or more of the following areas: reinsurance, reserving, ratemaking, financial reporting, capital management, underwriting and claims practices.
- Ability to perform actuarial and statistical analyses.
- Ability to apply the principles of logical thinking to define problem; collect data, establish facts and draw conclusions.
- Excellent communication with others, both with actuaries and non-actuaries, verbally, in writing, and via presentations.
- Expertly skilled in use of Excel, and proficiently skilled in use of Outlook, Word, and PowerPoint. Programming skills in SQL or R preferred.
- Ability to learn new software easily.
- Ability to effectively exchange information clearly and concisely, present ideas, report facts and other information, and respond to questions as appropriate.
- Ability to manage multiple priorities, establish workflows and meet necessary deadlines.
- Thorough knowledge of department procedures and workflows.
- Demonstrated leadership abilities.
- Ability to comprehend the consequences of various problem situations and address them.
- Ability to make competent, independent decisions.
- Ability to maintain confidentiality as appropriate.
- Ability to perform assignments at locations outside the office.
SUPERVISORY RESPONSIBILITIES
Directly supervises a varied number of employees in the designated department(s). Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring and training employees; planning, assigning and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
ADDITIONAL INFORMATION
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified. This job description does not constitute a contract for employment.
PAY RANGE:
“Actual compensation decision relies on the consideration of internal equity, candidate’s skills and professional experience, geographic location, market and other potential factors. It is not standard practice for an offer to be at or near the top of the range, and therefore a reasonable estimate for this role is between $126,400 and $211,750.”
We are an Equal Opportunity Employer. We will not tolerate discrimination or harassment in any form. Candidates for the position stated above are hired on an "at will" basis. Nothing herein is intended to create a contract.
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