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The Global Retail Market Product team is looking for an Assistant Actuary to assess the overall book profitability and growth of our Business Lines Specialty Farm, Inland Marine, and our Partnerships distribution channel. With $650M+ in inforce BL Specialty premium, this individual will support GRM's growth and profitability goals by producing accurate, trusted and holistic assessment of financial health and proactively identifying solutions to ensure the path to profitable growth.
This individual will be required to work closely with Actuarial, Product and UW teams. As such, the successful candidate will possess excellent analytical and communication skills, as well as a demonstrated ability to execute thoroughly in a collaborative environment. This position will report to US BL Profitability Specialty Director.
- Lead regular LOB & segment deep dives to identify driver of performance and develop actionable rate and non-rate recommendations to ensure the path to target returns.
- Collaborate with BL Profit Guidance Manager to review reasonability of combined ratio forecasts that reflect recent opinions of experience, trends and product initiatives.
- Proactively identify emerging issues or new variables with predictive power to create and improve risk segmentation
- Demonstrate strong subject matter expertise and build effective stakeholder relationships across Actuarial, Product and UW to gain cross-functional consensus on recommended product strategies.
- Build and implement process/data improvements in collaboration with LOB teams and cross-functional stakeholders.
- Bachelor's degree required; Masters Degree preferred.
- Fellowship in the Casualty Actuarial Society (FCAS) or in Society of Actuaries (FSA) designation preferred or comparable education/designation with relevant experience.
- Attaining Associateship alone is not a sufficient criterion to operate at this level, especially if exams have been passed very rapidly.
- Minimum 5-7 years relevant experience required;
- Sound knowledge of actuarial techniques and standards, as well as other business operations including financial, underwriting, legal, statistics, claims, sales, etc.
- Advanced communication and interpersonal skills and ability to build relationships and interact effectively with others within and outside the organization.
- Ability to motivate and mentor peers and motivate and train subordinates;
- Advanced computing skills (MS Office Excel and SAS required; VBA skills preferred); Ability to build complex models.
- Background in Farm or Inland Marine lines of business preferred