Director - Actuarial Services
1 day left
- Career Level
Manages Universal North America's ratemaking and rate filing processes for current and future states in all product lines of insurance. Manages the actuarial reserving function. Leads actuarial analyses as assigned and responds to inquiries from regulatory departments. Direct responsibility for Actuarial team.
Essential Duties and Responsibilities:
Develops and implements departmental strategies.
Leads the preparation of rules and rate manuals.
Manages all rate filing processes and pricing projects, including but not limited to quarterly rate adequacy reviews, ratemaking, internal rate indications, and financial analyses.
Manages competing internal interests and workload with respect to data requirements, ratemaking, rate filings, product development, and reserving analyses.
Interacts as needed with relevant regulatory authorities on filings and testifies as required in support of rate filings.
Manages the review of new product strategies, design, pricing, and implementation of rate changes.
Manages the development of pricing tools and methodologies.
Manages all aspects of the reserving processes including but not limited to reserving process management, data preparation and analysis, claims monitoring, IBNR allocation, presentation of “selected ultimate loss” proposal to Senior Management, and review of reserve accounting.
Manages the development of new reserving tools and improvements to existing reserving methodologies.
Leads the collaboration with the Finance Department to implement the reserving selection for accounting and forecasting purposes.
Manages all internal actuarial work necessary to assist in the timely completion of the Statement of Actuarial Opinion and in support of external audits.
Leads compliance with regulatory requirements and assurance of timely submission of Statement of Actuarial Opinion, reserving policy, etc.
Collaborates with internal stakeholders including Claims, Pricing, Product, Sales, Marketing and Underwriting on claims findings.
Communicates estimates and proposed changes clearly and succinctly. Presents results to executive stakeholders with professional visual analysis and summaries.
Manages projects associated with the development and update of Actuarial Models and Databases through formula development, research on methodologies and collaboration with other departments, to ensure timely availability of accurate data.
Practices appropriate spreadsheet and data stewardship, organizes and documents data, data sources, and calculations in such a way that it can be easily reviewed by a peer or external parties.
Manages, mentors and provides training to the actuarial team.
Successfully completes training sessions to remain current with industry trends and changes.
Leads project teams both with and without formal reporting authority.
Performs other duties as required.
This job description has been prepared to indicate the general nature and level of the work that the employees perform within their classification. This description is not and cannot be interpreted as an inventory of all the duties, tasks, responsibilities and qualifications required for the employees assigned to this job.
Education and Experience:
Bachelor's degree in related field and a minimum of ten (10) years of actuarial experience.
Broad understanding of personal lines property and home businesses including claims practice, pricing, and coverage. This includes an understanding of geographic and regulatory issues and concerns.
Ability to perform actuarial analysis to develop reserve estimates, product feedback, claims strategies and changes.
Data-driven decision maker, able to complete thorough research and investigation, yet make timely decisions.
Excellent analytical and organizational skills with the ability to balance the strategic and the tactical.
Proficient with Microsoft Word, Excel, PowerPoint. Familiarity with rating and database systems (e.g. SAS, SQL). ResQ experience preferred.
Ability to lead a team of independent contributors and to collaborate and influence in a team-based environment.
Ability to build strong working relationships and a positive work environment.
Achieves a standard of excellence with work processes and outcomes, honoring company policies and regulatory compliance.
Receptive to feedback and willing to learn, embracing continuous improvement.
Ability to deal effectively with individuals at all levels and attain desired results.
Must have the ability to collaborate with cross-functional team to achieve business results.
Works well under stress and tight deadlines.
Effective verbal and written communication, presentation, negotiation and persuasion skills.
Team oriented, building strong working relationships and a positive work environment.
Licenses and / or Certifications:
Associate of the Casualty Actuarial Society (ACAS) and member of the American Academy of Actuaries (MAAA) required.
Fellow of the Casualty Actuarial Society (FCAS) highly desired.