Lead Actuary, Middle Market Underwriting Support
Grade will be determined based on candidate qualifications.
Acts as the Lead Actuary for Middle Market, participating on the Segment's senior leadership team. Understands all aspects of actuarial work that impact the Segment including Pricing, Reserving, capital allocation, reinsurance etc. Manages an actuarial and analytics department in support of /Middle Market's profit, growth, and operational objectives. Oversees actuarial analyses, with the highest degree of autonomy, in pricing, product development, strategy, business planning and finance. Applies a comprehensive understanding of the business implications and significantly influences the courses of action taken. Provides consultation to the Middle Market Senior Leadership Team and other groups regarding actuarial, financial, strategic, business planning, and other matters for the 2.9B/1.9B Middle market. Manages a staff of 21/11 actuarial managers, senior technical professionals and business analysts. Oversees and directs complex cross-functional and organizational projects having broad impact for business decision-making; Helps identify and model best practices for Middle Market Actuarial.
- Oversees cross-functional work to develop and execute a strategy to get Middle Market to target profitability including defining optimal portfolio balance, remediation efforts and growth opportunities leveraging creative solutions.
- Sets vision, goals and direction of the 21/11 member Middle Market Team.
- Oversees pricing and risk assessment methods used in Actuarial areas and contributes to improving those methods
- Directs and performs actuarial analyses for a Middle Market and determines courses of action on issues such as pricing, reserves, or product development.
- Leverages the work from other supporting actuarial teams such as Casualty Pricing, Property Pricing and Actuarial Operations & Analytics within a matrix reporting environment to achieve objectives
- Initiates, manages, and/or participates in, studies that underlie actuarial assumptions and that are designed to improve risk selection and pricing.
- Provides consultation to senior managers and other groups regarding pricing, financial, strategic, business planning and other actuarial matters. Applies a comprehensive understanding of the business implications and exerts significant influence over the courses of action taken.
- 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.
- Support rollout of new models and bring feedback from underwriting back to the modeling teams
- 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.
- Monitors developments in actuarial techniques researches laws and regulations. Analyzes developments in the marketplace.
Bachelor's degree required. Insurance designations desirable. Fellowship in the Casualty Actuarial Society (FCAS) designation required, or comparable actuarial education/designation combined with relevant experience. Demonstrated ability to apply the depth/breadth of actuarial skill and business acumen that often comes from at least 3-5 years of highly technical casualty insurance and management experience since attaining fellowship in the CAS. (Overall) 10 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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