Actuarial Senior Manager Commercial Lines

Job Summary

The Actuarial Senior Manager develops business strategies for actuarial function, oversees the reporting processes and actuarial analysis, and monitors KPIs. The role also provides expertise on rate and product filing, oversees pricing, reserving, and reporting activities, leads complex problem solving, and champions the adoption of actuarial analytics across business units in the organization. The role also provides people leadership for a team or multiple teams of actuarial employees.

Job Responsibilities

• Develops profitable targets and business strategy, and formulates policies that manage Property Casualty rates, reserves, risk capital, and product research.
• Maintains, expands, and applies knowledge of the insurance industry, actuarial trends, market conditions, and competitor information and shares that information with Actuarial and other business units.
• Develops and maintains an enterprise view of profitability, risks, and opportunities across multiple projects and initiatives, while ensuring cross-company compliance.
• Oversees actuarial model development to support financial projections, pricing, underwriting and the quarterly/monthly financial reporting processes.
• Reviews premium recommendations and policies to meet the financial objectives of the organization.
• Oversees financial reconciliations and inputs on reinsurance levels and attribution methodologies.
• Partners with client teams to address complex actuarial needs including trend and reserve setting, discount positions of various networks, and resolves other financial complications.
• Oversees the risk assessment process associated with stop loss, and guides development of new metrics and benchmarks in pursuit of leveraging data as a strategic asset.
• Drives actuarial thought leadership and innovation across the organization, championing the adoption and benefits of actuarial analytics.
• Delivers insights and creates analytics capabilities that will enable the organization to succeed in value-based arrangements.
• Leads the annual actuarial corporate planning process, and drives annual budget creation and completion of monthly budget variance reporting and forecasts as needed.
• Drives talent management, employee selection, succession planning, performance management, compensation management, employee development and coaching in career development, and operational management.
• Participates in professional industry groups and creates a network of key contacts to stay abreast of industry changes, and customers' and employees' expectations.

Job Qualifications

• 10+ years of Actuarial work experience with 3+ years of people management experience.
• Bachelor's degree preferred in Actuarial Sciences, Business, Finance or related field and/or commensurate work experience.
• Master's degree in a related field is preferred.
• Extensive experience in Commercial Lines Pricing preferred.

Behavioral Competencies

• Directs work
• Collaborates
• Develops talent
• Strategic mindset
• Customer focus
• Communicates effectively
• Ensures accountability
• Drives vision and purpose
• Decision quality
• Business insight
• Nimble learning
• Builds effective teams
• Manages complexity
• Member of American Academy of Actuaries

Technical Skills

• New Product Development
• Pricing Strategy
• Business Process Improvement
• Project Management
• Market Research
• KPI Tracking
• Corporate Reserving
• Knowledge of Generally Accepted Accounting Principles
• Policy Formulation
• Data Analysis and Reporting
• Risk Management
• Insurance Industry Knowledge

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.