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Claim Reserves Actuarial Manager

Employer
Allstate Insurance Company
Location
Chicago, Illinois
Salary
Not Specified
Closing date
Nov 23, 2019

View more

Category
Actuary, Executive / Management
Job Type
Not Specified
Career Level
Not Specified

Job Details

Where good people build rewarding careers.

Think that working in the insurance field can’t be exciting, rewarding and challenging? Think again. You’ll help us reinvent protection and retirement to improve customers’ lives. We’ll help you make an impact with our training and mentoring offerings. Here, you’ll have the opportunity to expand and apply your skills in ways you never thought possible. And you’ll have fun doing it. Join a company of individuals with hopes, plans and passions, all using and developing our talents for good, at work and in life.

Job Description

Job Summary:


The Claim Reserves Actuarial Manager is responsible for developing information and providing analysis necessary for the estimation of loss and expense reserves for a particular business unit. The Claim Reserves Manager provides expert level analysis and execution of reserving processes and programs to achieve department objectives. In addition, this position is responsible for developing, implementing, managing and communicating complex reserve position action plans. This position may be responsible for managing direct reports.

Key Responsibilities

  • Directs and is responsible for work that needs to be performed by a team or their direct reports
  • Responsible for estimating loss and expense reserves for a business unit using highly complex loss reserving techniques and analysis
  • Reviews and makes observations of appropriateness of highly complex loss reserving techniques for specific lines of business
  • Defends the application of a particular method or judgment used to produce an estimate of the reserve position
  • Suggests and implements revisions and enhancements to reserve projection techniques
  • Serves as a subject matter expert for their respective discipline from an internal perspective
  • Develops highly complex information and analysis necessary to support completion of department objectives and projects
  • Gathers feedback from the business units on reserve position findings
  • Reviews, prepares and coordinates the preparation, analysis, and presentation of information pertaining to reserve action plans to the business unit and other key stakeholders
  • Provides information to external auditors and actuaries
  • Prepares drafts for required financial disclosures
  • Manages complex, technical reserving research projects and participates in project budget and prioritization conversations
  • Provides expert consultation on highly complex reserving issues
  • Identifies and resolves complex data issues
  • Trains/coaches team members or peers and actively shares expertise with peers
  • Adheres to internal and external compliance requirements/standards
  • Understands and articulates market specific implications of complex business strategies
  • Leads the development of new procedures and processes of moderate to high complexity
  • Executes performance management for their direct reports and provides feedback on other project team members that contributes to performance management
  • Assesses resource needs including skills and training requirements

Supervisory Responsibilities:

  • This job may have supervisory duties.

Job Qualifications

Education and Experience

  • Bachelor’s degree required – preferably in related field of study such as actuarial science, math/applied math, statistics/applied statistics, economics
  • Seven or more years of loss and expense reserve estimation experience required

Certificates, Licenses, Registrations

  • Fellowship or Associateship of the Casualty Actuarial Society required

Functional Skills

  • Advanced knowledge in the use of data sources and applications to conduct research
  • Possesses advanced working knowledge of policies and procedures in management or other technical fields
  • Strong Computer proficiency in Microsoft Office; Advanced – Excel skills
  • Strong written and verbal communication skills including the ability to effectively collaborate with multi-disciplinary groups and all organizational levels
  • Working knowledge of GAAP and Statutory Accounting principles
  • Good presentation skills
  • High level organizational and project management skills in order to handle multiple concurrent assignments in a timely manner
  • Strong decision-making skills
  • Works effectively in a team environment

The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.

Good Work. Good Life. Good Hands®.

As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.

Allstate generally does not sponsor individuals for employment-based visas for this position.

Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.

For jobs in San Francisco, please click “here” for information regarding the San Francisco Fair Chance Ordinance.
For jobs in Los Angeles, please click “here” for information regarding the Los Angeles Fair Chance Initiative for Hiring Ordinance.

To view the “EEO is the Law” poster click “here”. This poster provides information concerning the laws and procedures for filing complaints of violations of the laws with the Office of Federal Contract Compliance Programs

To view the FMLA poster, click “here”. This poster summarizing the major provisions of the Family and Medical Leave Act (FMLA) and telling employees how to file a complaint.

It is the Company’s policy to employ the best qualified individuals available for all jobs. Therefore, any discriminatory action taken on account of an employee’s ancestry, age, color, disability, genetic information, gender, gender identity, gender expression, sexual and reproductive health decision, marital status, medical condition, military or veteran status, national origin, race (include traits historically associated with race, including, but not limited to, hair texture and protective hairstyles), religion (including religious dress), sex, or sexual orientation that adversely affects an employee's terms or conditions of employment is prohibited. This policy applies to all aspects of the employment relationship, including, but not limited to, hiring, training, salary administration, promotion, job assignment, benefits, discipline, and separation of employment.


Company

COMPANY INFORMATION The Allstate Corporation (NYSE: ALL) protects people from life's uncertainties with more than 113 million proprietary policies. Allstate offers a broad array of protection products through multiple brands and diverse distribution channels, including auto, home, life and other insurance offered through its Allstate, Esurance, Encompass, SquareTrade and Answer Financial brands. Allstate is widely known from the slogan "You're in Good Hands with Allstate." The Allstate Corporation is the largest publicly held personal lines property and casualty insurer in America. Allstate was founded in 1931 and became a publicly traded company in 1993. In 2023, Allstate was number 84 on the Fortune 500 list of largest companies in America. WHAT WE DO We’re more than insurance agents and claims representatives. We’re individuals with hopes, plans and passions. The biggest of which is helping people live smarter, safer lives. Doing so means continuing to re-imagine how we do what we do, the impact we can make on the world, ways we can each succeed in our own careers and actions we can take as a company that are good for all. To do that, we need all kinds of people – including lawyers, accountants, building engineers, project managers, marketing professionals, human resource specialists and so many more. WHO WE ARE – INCLUSIVE DIVERSITY    We hold each other accountable to encourage and embrace our collective differences. It’s our individual characteristics, values and beliefs, along with backgrounds and experiences that give us fresh perspective and purpose. We work harder, meet customer needs more effectively, share better, and identify more innovative ideas when we are accepted for who we are by the world around us. Our success comes from a chorus of many different voices. At Allstate, every voice counts.​ In our stand against racism, we’ve been making changes within Allstate. We’ve been listening, learning and engaging in change. We are focused on improving equity for all. Allstate is committed to long-term change not only in the way we conduct our business, but also for our employees. There’s a dynamic environment waiting for you here. You’ll find people with similar interests, as well as the many who’ll help expand your horizons. We believe in the power of connections. That’s why Allstate promotes diversity through a robust network of employee resource groups. It helps connect us all and supports our unique talents. Here are some of the available resource groups that actively support our employees: Abilities Beyond Limitations & Expectations African American Working Network Allstate Asian American Network Allstate Foster and Adoption Network Allstate PRIDE Allstate Veterans Engagement Team and Supporters Allstate Women’s Information Network Entrepreneurs at Allstate Families at Allstate Matter Native American Peoples at Allstate Professional Latino Allstate Network Young Professionals Organization WHY JOIN OUR COMPANY Allstate has been protecting people from life's uncertainties since 1931. We continuously develop and improve products and services so our customers can live well protected. For employees, we offer an environment that fosters innovative thinking and collaboration - where you'll be able to explore your ideas and feel proud of the work you do.  Our Benefits Allstate is dedicated to helping employees live happier and healthier lives. As a Fortune 100 company and industry leader, we provide a competitive salary and a benefits package that includes medical and dental insurance, tuition assistance, as well as a robust pension and 401(k). Plus, you'll have access to a wide variety of programs to help you balance your work and personal life - including a generous paid time off policy.  Growth and Development We support your desire to grow and provide opportunities to learn, explore new horizons, and follow your passion in a meaningful career. From access to hundreds of learning opportunities to in-house networking and rotational work experiences, Allstate is a place where you can forge your own path and expand your personal and professional potential. 
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