Lead Actuary, Property Pricing
Grade will be determined based on candidate qualifications
Manages an actuarial and analytics department responsible for the profitability, growth and strategy for the $1.4B Property product set within GRS North America. Has broad responsibilities related to pricing, and complex analysis including, but not limited to, ensuring consistency of actuarial assumptions across reserving and pricing, developing, updating and maintaining pricing models & methodology and engaging with the Advanced Analytics Hub on predictive model enhancements, delivery & modeling. Applies a comprehensive understanding of the business implications and significantly influences the courses of action taken to drive profitable growth across GRS North America. Provides consultation to senior managers and other groups regarding actuarial, financial, strategic and business planning for the Property products. Manages a 14+ person team including actuaries, business analysts and senior technical professionals. Oversees and directs complex cross-functional and organizational projects having broad impact for business decision-making.
- Oversees cross-functional work to develop and execute a strategy to get Property Products (single carrier, shared & layered, marine and equipment breakdown) to target profitability including developing indications and profit reviews by business segment, cross functional deep dives on reinsurance, and filing support, leveraging creative solutions.
- Works within a matrix reporting environment with the Majors, Middle Market & Specialty Actuarial teams to achieve collective objectives
- Sets vision, goals and direction of the 14 member Property Pricing Team.
- Develops, updates and maintains pricing models & methodology using the latest actuarial techniques, methodologies and data sources
- Directs and performs actuarial analyses for the Property products and determines courses of action on issues such as pricing, reserves, or product development.
- Initiates, manages, and/or participates in, studies that underlie actuarial assumptions, parameters and factors 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.
- Engage with the AA Hub, Product and Underwriting on predictive model enhancements, delivery & modeling
- Provides Underwriting Support to the three business units on all Property products including pricing model support, rate and tool maintenance, risk selection, reinsurance purchasing guidance and catastrophe support
- 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.
- Represents the Company on Property industry and professional committees.
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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