As the Chief Actuary in Global Risk Solutions (GRS), you will be responsible for a large Actuarial group within an SBU, i.e.; reserving for an SBU; pricing support for a significant business unit; substantial complex analysis for a function. You will regularly interact with senior business leaders; and conversations are broader than the actuarial function. The role has key involvement in the business unit strategy, comprehensive understanding of the business implications of recommendations and significantly influences the courses of action taken. This position is a Senior Actuarial leadership role within the GRS Home Office Actuarial function. This position would directly lead three teams currently comprised of 30 credentialed actuaries, actuarial students and business analysts.

• You will create policies and procedures that advance our Actuarial capabilities company-wide for both pricing and reserving. Includes liaising with BU actuaries to ensure that enhancements and developments are shared SBU wide.
• You will be responsible for independent assessment of reserve adequacy and jointly responsible with the CFO that Statutory Financial reports are materially accurate.
• You will research and develop topics including reserving methodologies, price monitoring methodologies and advanced actuarial modeling.
• You will communicate with Actuaries in Corporate, Actuaries on the GRS HO team, and Actuaries within the business segments on issues such as reserving, Statutory Financial reporting, loss ratio planning and pricing.
• You will lead this team in developing a vision, motivating employees to work towards it, and helping the team to reach its full potential
• You will engage with IT on current and future data architecture for Actuarial across reserving and pricing

GRS Actuarial Reserving this team has oversight responsibility for the Reserving being performed within the four segments within GRS globally (NI, NAS, LSM, Surety) which is comprised of:

a. Conducting peer reviews and / or full independent reviews of the segments estimates for unpaid loss & alae reserves

b. Reporting of GRS-wide reserves to GRS Sr Management and LM ELT, along with comprehensive explanations for movements of estimates

c. Establishing best-practices reserve process and methodology for the business segments across GRS

d. Populating data within ResQ, creating a broad, GRS wide ResQ structure that provides a functional, stable, yet flexible approach for the business units and allows broad diagnostic, analysis and reporting functionality within and across segments

e. Providing support for Corporate Actuarial Reserve Audits, E&Y Audits, State Exams

f. Creation of suitable diagnostics covering exposed policies, emerging claims and underlying trends. Includes monitoring and reporting on these diagnostic tools

g. Creation of a GRS wide actuarial reporting tool that summarizes reserve analysis results, reviews change over quarter, provides insight into change in MLA and supports various downstream reporting requirements (eg MBE IBNR allocation assistance)

h. Calculating unpaid loss & LAE estimates for GRS Re and run-off units within GRS

i. Sharing of observations of claim trends and portfolio performance across GRS Actuarial

j. Support for global statutory reporting (eg Solvency II and IFRS 17)

k. Conducting M&A due diligence

l. Resource pool of reserving actuaries for special projects / deep dives

GRS Pricing & Planning Support:

a. Conducting peer or independent reviews of plan loss ratios for the four segments within GRS globally (NI, NAS, LSM, Surety)

b. Peer reviewing the segments profitability analyses and understanding changes in underwriting strategy

c. Liaising with Capital Modeling to determine and monitor Underperforming segments within GRS

d. Calculating monthly KPIs for Rate and Retention

e. Sharing of observations of claim trends and portfolio performance across GRS Actuarial

f. Providing support for Corporate Actuarial Reserve Audits, E&Y Audits, State Exams

g. Supporting Financial Reporting including MBE IBNR booking

GRS Actuarial Modeling:

a. Advanced claim modeling techniques to develop unpaid loss

b. Cluster analysis for reserving claim groupings

c. Assistance in the development of robust diagnostic approaches

d. Liaising with Capital Modeling on reserve volatility

• Bachelor's degree required.
• Demonstrated expertise in financial management of a P&C business; authoritative knowledge of insurance operations and P&C insurance business.
• Fellowship in the Casualty Actuarial Society (FCAS) designation required, or comparable actuarial education/designation combined with relevant experience.
• Ability to participate effectively on the senior management team.
• Strong analytical skills with solid understanding of all casualty actuarial techniques, standards, and assumptions for both Pricing and Reserving.
• Familiarity of products sold across GRS is desirable.
• Experience with advanced modeling techniques is not necessary but would be beneficial.
• Excellent management and communication skills; exceptional interpersonal and communication skills required to establish and build effective relationships within and outside the organization
• Critical thinking and ability to set direction for team.
• Ability to exchange ideas and convey complex information clearly and concisely, both verbally and in writing.
• Ability to anticipate areas of senior management concern, integrate different perspectives, and respond accordingly.
• Ability to exert influence over senior managers, operating managers, and others on matters of importance to the SBU
• Ability to give effective training and presentations to senior management and other teams.
• Ability to organize, lead, and get work done through others.
• Ability to develop staff and managers to support succession planning and address on-going talent needs.
• Ability to build and lead talent across the enterprise in conjunction with peers.

Benefits:

We value your hard work, integrity and commitment to positive change. In return for your service, its our privilege to offer you benefits and rewards that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits

Overview:

At Liberty Mutual, we give motivated, accomplished professionals the opportunity to help us redefine what insurance means; to work for a global leader with a deep sense of humanity and a focus on improving and protecting everyday lives. We create an inspired, collaborative environment, where people can take ownership of their work; push breakthrough ideas; and feel confident that their contributions will be valued and their growth championed.

Were dedicated to doing the right thing for our employees, because we know that their fulfillment and success leads us to great places. Life. Happiness. Innovation. Impact. Advancement. Whatever their pursuit, talented people find their path at Liberty Mutual.

Liberty Mutual is an equal opportunity employer. We embrace an environment that is free from all discrimination in the workplace, in its business, or by its vendors. Liberty Mutual values diversity and the differences and similarities of our employees. We foster a diverse and inclusive work environment that leads to better ideas, stronger teams and more innovative products and services for our customers. Learn more