Actuary - Senior

Hamilton, OH

The Ohio Casualty Insurance Company

Supports a regional company';s profit, growth, and operational goals by performing actuarial analyses in commercial lines pricing, reserving, product development, and business planning.  Typically supervises an actuarial staff of 2 or 3 (associates, actuarial students, and support staff).  As a member of the senior management team, actively contributes to overall strategic direction of the regional company.

• Directs and performs actuarial analyses for a regional company and makes recommendations concerning pricing, reserves, and/or product development.  Actively participates in state rate reviews and directs the regional company rate level decision process.  Acts as a liaison between the regional management and the home office pricing and product teams. 


• Works closely with regional company finance department to construct the loss ratio and production plans for the company.  With Corporate Actuarial, ensures that appropriate IBNR is held for the company during the monthly book close process.


• Supervises the day-to-day actuarial operations for the unit by establishing priorities, scheduling, and assigning work.  Uses the objective setting and performance evaluation processes to ensure employees understand the expectations, receive regular feedback, and are appropriately developed and rewarded.  Ensures adherence to policies, procedures, and objectives.  Deals decisively with performance and/or conduct issues.


• Initiates, defines, and manages to completion, studies that underlie actuarial assumptions and are designed to improve risk selection, pricing, and reserve setting.


• Provides consultation to senior managers on pricing, rates, and related matters, including the development and use of pricing models/tools, business planning, contingency plans, and other financial studies, and monitors actual price changes vs. plan and adequacy benchmarks.


• Monitors and analyzes the SBU';s financial results in order to communicate the impact of strategic and operational plans.  Develops and revises strategic and tactical plans as necessary to meet corporate objectives and respond to environmental changes.


• Monitors developments in actuarial techniques; Researches laws and regulations; Analyzes developments in the marketplace. Represents the Company on industry and professional committees.

• Bachelor';s degree required; Master';s degree and insurance designations preferred;
  


• Fellowship in the Casualty Actuarial Society (FCAS) designation required; typically 3 or more years post-fellowship;
  


• Demonstrated ability to apply the depth/breadth of actuarial skill and business acumen that often comes from at least 3-5 years of highly technical casualty insurance experience after attaining fellowship in the CAS;
  


• 7-10 years progressively responsible experience, including managerial experience;
  


• Strong analytical skills with solid understanding of all casualty actuarial techniques, standards, and assumptions;
  


• Strong knowledge of insurance operations and the procedures of Financial, Underwriting, Claims, Statistical, Information Technology, Legal, and Sales departments is necessary;
  


• Ability to lead and get work done through others; Select and develop staff members;
  


• Demonstrated ability to exchange ideas and convey complex information clearly and concisely, both verbally and in writing;
  


• Ability to establish and build effective relationships within and outside the organization; 
  


• Demonstrated ability to exert influence among operating managers on matters of importance.
  

• 401K and Company paid pension plan


• Medical coverage


• Dental coverage


• Paid time-off


• Pay-for-Performance


• Discounts on automobile and homeowner';s insurance


• Discount fitness memberships


• Flexible spending accounts


• Tuition reimbursement


• Vision care coverage


• Work/Life resources


• Credit Union membership


• Employee and Dependent life insurance


• Disability insurance


• Long-term care insurance