Senior Director, Actuary - NAS Health
Manages NAS Health actuarial department in support of a business group's profit, growth, and operational objectives. Oversees actuarial analyses, with the high degree of autonomy, in areas of pricing models, product development, research/support, business planning, finance and other business areas. Applies a comprehensive understanding of the business implications and significantly influences the courses of action taken. Provides consultation to senior managers and other groups regarding actuarial, financial, strategic, business planning, and other matters for the SBU. Manages a staff, directly and/or through a frontline manager/s, including actuaries, associates, actuarial students, analysts, and/or other staff. Oversees and directs complex cross-functional and organizational projects having broad impact for business decision-making; Helps identify and model best practices for SBU actuarial.
- Oversees work on unusually complex cross-functional and/or cross-organizational problems and provides solutions that are creative and strategic.
- Leads Profitability Reviews: in-depth reviews of the portfolio's profitability and composition. Develops a consistent set of monitoring tools across all products to assess the profitability of the business, and if necessary, recommending underwriting or rating actions to make the business more profitable
- Develops departmental policies procedures.
- Sets vision, goals and direction of team/organization.
- Exerts organization wide influence.
- Manages the actuarial operations for the group by establishing priorities, scheduling, and assigning work. Adjusts schedules when necessary to meet completion dates, and assists others with resolving complex problems while ensuring adherence to policies, procedures, and objectives.
- Directs and performs actuarial analyses including transactional pricing for NAS Health business segments and determines courses of action on issues such as pricing, and or product development. May oversee the preparation and interpretation of the data used to support rate filings with state departments of insurance.
- Initiates, manages, and/or participates in, studies that underlie actuarial assumptions and that are designed to improve risk selection, pricing, reserve setting, and help in developing new products..
- Leads discussions with senior Underwriters and Claims personnel regarding profitability and strategic direction through Multi-disciplinary Reviews (MDR) of NAS Health product portfolio.
- Provides consultation to senior managers and other groups regarding actuarial, financial, strategic, business planning or other matters. Applies a comprehensive understanding of the business implications and exerts significant influence over the courses of action taken.
- Uses the objective setting and performance evaluation processes to ensure employees understand the expectations, receive regular feedback, and are appropriately developed and rewarded. Deals decisively with performance and/or conduct issues using the performance management process.
- Identifies data requirements for analysis, tool development, reporting, and decision making. Ensures the organization uses it effectively to reach profit and growth objectives.
- Monitors and analyzes financial results in order to communicate the impact of strategic and operational plans. Develops and revises strategic and tactical plans as necessary to meet corporate objectives and respond to environmental changes.
- Monitors developments in actuarial techniques researches laws and regulations. Analyzes developments in the marketplace. Represents the Company on industry on industry and professional committees.
- Bachelor's degree required.
- Fellowship in the Casualty Actuarial Society (FCAS) designation required, or comparable actuarial education/designation combined with relevant experience.
- Medical Professional and Medical Stop Loss experience is preferred.
- Demonstrated ability to apply the depth/breadth of actuarial skill and business acumen that often comes from at least 5 years of highly technical casualty insurance and management experience since attaining fellowship in the CAS.
- (Overall) 10-15 or more years of progressively more responsible experience, including managerial experience.
- Analytical skills with solid understanding of all casualty actuarial techniques, standards, and assumptions.
- Expert knowledge of insurance operations and P&C insurance business.
- Ability to manage a mix of assignments that tend to be more strategic than tactical.
- Demonstrated ability to exchange ideas and convey complex information clearly and concisely, both verbally and in writing.
- Demonstrated ability to anticipate areas of senior management concern, integrate different perspectives, and respond accordingly.
- Exceptional interpersonal and communication skills required to establish and build effective relationships within and outside the organization.
- Ability to give effective training and presentations to senior management and other groups.
- Demonstrated ability to organize, lead, and get work done through others.
- Demonstrated ability to select and develop staff members.
- Demonstrated ability to exert influence among operating managers on matters of importance.
- Demonstrated ability to influence senior managers on matters of significant importance.
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