Lead Actuary, Casualty Pricing
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Grade will be determined based on candidate qualifications.
Manages an actuarial and analytics department responsible for the profitability, growth and strategy for the $4.5B Casualty 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 Casualty products. Manages a 25+ 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 Casualty Products (workers compensation, auto, general liability and umbrella) to target profitability including developing indications and profit reviews by business segment and cross functional deep dives on trends, leveraging creative solutions.
- Works within a matrix reporting environment with the Majors, Middle Market and Specialty Actuarial teams to achieve collective objectives
- Sets vision, goals and direction of the 25 member Casualty 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 Casualty 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 the Umbrella and Excess Casualty lines of business including pricing model support, rate and tool maintenance and risk selection
- 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 Casualty industry and professional committees.
Bachelor's degree required. Insurance designations desirable. Demonstrated expertise in financial management of a P&C business. Fellowship in the Casualty Actuarial Society (FCAS) designation required, or comparable actuarial education/designation combined with relevant experience. Ability to participate effectively on the senior management team. Strong analytical skills with solid understanding of all casualty actuarial techniques, standards, and assumptions. Expert knowledge of insurance operations and P&C insurance business. Excellent management and communication skills. Strategic thinking and ability to set direction for team. 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. Ability to develop staff and managers to support succession planning and address on-going talent needs. Ability to build and manage talent across the enterprise in conjunction with peers. Demonstrated ability to exert influence over senior managers, operating managers, and others on matters of importance to the SBU.