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Job Description SummaryIn Analytics and Research (A&R), we deliver tailored analytics and innovative data science solutions that influence decisions and enable superior results. We have an inclusive culture where everyone feels that they belong, can be authentic, are valued, respected, empowered and part of our success. We see strength in the uniqueness that each of us contributes to creating innovative solutions and improving business outcomes.
The VP, Analytics & Research Product Lead will amplify the value of our existing line risk segmentation practices. This position will be an integration point for the Product value stream and will be responsible for prioritizing work to drive product development and segmentation strategy with our business partners to create competitive advantages for Travelers. The Product Lead will facilitate consistent practices, innovation, and opportunities across lines of business and contribute to and drive our analytics vision in service of business priorities. The role will utilize business knowledge, product development experience, and technical acumen in the pricing space to creatively solve business problems and create analytic strategies. The Product Lead will have oversight over pricing modeling for commercial auto, commercial multi-peril, workers compensation, property, and general liability lines as well as analytics in support of the reserving function.
The VP, Analytics & Research Product Lead is expected to represent the business segment and to lead and engage with similar data science, analytics, and innovation positions across the Travelers enterprise to ensure the appropriate leveraging of resources, development of talent, and standard setting for analytic models and practices. Leading or contributing to segment and enterprise-wide strategic initiatives is expected.
This role manages of a multi-layered team of roughly 30 analytics professionals.
Primary Job Duties & Responsibilities
- Oversight of pricing modeling for Commercial Auto, Workers Compensation, Property, Commercial Multi Peril, General Liability, and other lines as needed.
- Oversight of advanced analytics work in support of reserving and risk control.
- Prioritization of advanced analytics work across the Product Value Stream.
- Develops senior management relationships within the segment and across Travelers with both advanced analytic and business partners. This position communicates with audiences at all levels of the enterprise, making sure to emphasize the business benefits of investing in and utilizing investments in innovative data, as well as the benefits of adopting analytic solutions.
- Ensures analytics deliverables meet Travelers modeling, legal, audit, and regulatory standards.
- Establishes or partners with the business to establish a benefit estimate for each delivery and, post-implementation, to measure realized benefits.
- Proactively monitors model performance and transparently communicating results and recommendations for change to business partners.
- Proactively learns the business process, creates connections points with and across the business to ensure the success of work.
- Translates high-level or operational business needs into appropriate intermediate to complex analyses. Designs analysis to be actionable.
- Skillfully articulates how the impact of research connects to business priorities. Presents recommendations, including business implications, to executive management and business partners.
- Identifies and prioritizes analytics and research deliverables with analytics and business partners.
- Accountable for ensuring the team has appropriate access to all resources necessary for success including training, hardware, software, data, and outsourcing, and for overseeing management of such resources.
- Leads and engages in organizational talent management, leadership development, and talent acquisition, both within the segment and across Travelers.
- Enables/supports the development of research staff members by challenging, mentoring, and coaching team members; acts as a key driver in creating a high performing team.
- Bachelor's STEM (Science, Technology, Engineering, Mathematics) degree with a minimum of 10 years' experience or Bachelor's non STEM degree with a minimum of 12 years' experience required.
Education, Work Experience, & Knowledge
- Advanced degree in statistics, mathematics, economics, finance, business, actuarial science, computer science or equivalent with 10+ years of relevant work experience or Bachelor's degree with 15+ years of relevant work experience preferred. Relevant work experience in directing analytic work (e.g. predictive modeling or business analytics functions) in the insurance industry preferred.
- Multiple leadership experiences in leading analytic and modeling teams on a variety of business impacting areas that may include: benchmark pricing; rating plan development; loss analytics; business performance analytics; operational efficiency analytics; and sales-based analytics.
- Technical experience and leadership experience in evaluating and implementing cutting edge technology, or introduction of a new analytic tool or methodology. Strong leadership role(s) on cross-organization strategic initiatives, preferably within and outside of unit and segment.
Job Specific Technical Skills & Competencies
- Ability to understand and oversee both traditional actuarial related statistical modeling exercises and advanced modeling techniques in machine learning and artificial intelligence applied to any aspect of the business.
- Leading the Business: Problem Solving & Decision Making. Change Management. Influencing, Leadership, Power. Risk Taking, Innovation. Results Orientation
- Business Perspective. Understanding & Navigating the Organization (Includes Collaboration). Strategic Planning.
- Leading Others: Forging Synergy. Communicating Effectively. Leveraging Differences. Building & Mending Relationships. Participative Management.
- Leading Employees: Employee Development.
- Leading Self: Openness to Influence. Flexibility. Self-Awareness. Seeks Opportunities to Learn. Leadership Stature. Credibility.
- Business Acumen: Understanding and knowledge of key business knowledge areas (e.g. product, enterprise, industry, claim process and competitors). Ability to leverage business knowledge to set strategies and approaches to execution.
- Critical Thinking: Ability to take action in solving problems while exhibiting judgment and a realistic understanding of issues; ability to use reason; review facts, identify inconsistencies and weigh options; ability to make logical and timely decisions that address the right issues.
- Modeling: Ability to direct the development of advanced models and interpret model results.
- Statistics: Conceptual understanding of statistics underlying data models. Ability to direct the application of new statistical procedures to work. Demonstrates the ability to direct the work of individuals with excellent ability and knowledge of database principles, data profiling, statistics and insurance-related data modeling who can apply this knowledge in the most complex situations. Directs individuals who develop new approaches, methods or policies in the area who are recognized as experts, internally and/or externally.
- Computer Proficiency: Ability to read/revise/review a statistical software program (e.g. R, SAS, SPSS). Ability to direct the development of advanced programs from scratch.
Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.
If you have questions regarding the physical requirements of this role, please send us an email so we may assist you.
Travelers reserves the right to fill this position at a level above or below the level included in this posting.