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St. Paul,
MN
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positions.) |
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Career Field |
Actuarial
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| Insurance
Discipline |
All
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| Relocation
Assistance |
Not Available
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| Job
Duration |
Full Time |
| Salary
Offered |
Open |
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SUMMARY:
This position provides a challenging and exciting leadership opportunity to join the Travelers Middle Market Actuarial unit. The Travelers Middle Market organization is a significant part of Travelers Business Insurance and is comprised of 8 distinct businesses with gross premium in excess of $5 billion. Travelers Business Insurance wrote $12.6 billion in gross premiums and generated $2.3 billion in operating income for 2008.
The Loss Analytics unit is responsible for developing unbiased estimates of the ultimate loss associated with products sold. Additionally, this unit is responsible for delivering leading indicators and business intelligence to Middle Market and Actuarial Senior Leadership. The understanding of loss content changes will include an analysis of external econometric and legal indices and of internal claim process changes. Loss content estimates will be made at various levels including: line of business, business unit, product, coverage, industry, region and state. The knowledge and analytics developed in the loss analytic process will be leveraged as the basis for making loss reserve estimates.
As the leader of the General Liability and Professional lines, this position is responsible for the execution of the responsibilities listed below.
¿Sets objectives and provides guidance to Actuarial group to achieve the Middle Market objectives for profitability and growth.
¿Sets reserves for loss and loss adjustment expenses for Middle Market General Liability and Professional.
¿Coordinates the monthly close process with Finance, including loss ratio rollforward.
¿Sets objectives and determines organizational responsibilities of the unit to ensure continuing efficient and economical performance.
¿Provides accurate estimates of loss and loss expense liabilities on a quarterly basis for the business segments assigned.
¿Manages complex projects.
¿Staff responsibilities include a unit of 5 people, ranging from analysts to actuaries.
PRIMARY DUTIES:
¿Provide analysis of trends and factors impacting results and works with leadership to determine strategic direction.
¿Recommend and book reserves, communicate with Finance, Corporate Actuarial and Middle Market Business Units.
¿Evaluate adequacy of loss, ALAE, and ULAE reserves.
¿Identify loss trends and loss content.
¿Work with Claims, Underwriting, Business Unit Actuaries and Product Actuaries to understand reasons for changes.
¿Using results from research, makes recommendations to Middle Market leadership.
¿Present loss analytics and reserve reviews to senior leadership.
¿Supervise staff. Develop and motivate staff to achieve technical excellence and ensure effective performance.
¿Set challenging objectives and provides guidance and direction to staff. Clearly relates unit expectations and goals to the business unit mission.
EDUCATION/ COURSE OF STUDY:
Has achieved Fellowship (9 exams)
WORK EXPERIENCE:
¿Generally has 10 plus years of Actuarial experience.
¿Considerable management and leadership experience required.
¿Experience in complete range of actuarial functions, including but not limited to, reserving, pricing, business planning, financial reporting, management information, product development, reinsurance and data base management.
¿Ability to develop new procedures and policies and improve existing ones.
¿Strong understanding of actuarial and other insurance related models (i.e., property CAT, ROE and RBC models).
¿Strong understanding of insurance products and marketplace conditions and how they impact financial models and results.
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