The Actuary Manager develops and offers strategic direction for the Product Management team, with strong consideration of the needs and impact on other functional areas of the company.
To perform this job successfully, an individual must be able to perform each of the following essential duties and responsibilities satisfactorily. Other duties may be assigned.
Proactively seeks out situations where the acquisition of Competitive Market Analytics and other competitive position reviews would have a material impact on business decisions and their outcomes. Convinces others of the need and leads the effort.
Adapts and develops rating methodologies for both existing and new company products using advanced techniques to incorporate new variables, etc., in pursuit of a competitive advantage and creation of economic profit opportunities.
Identifies, retrieves, and prepares data in support of actuarial analysis through SQL, Essbase, and other data sources. Includes internal data (exposure, premium, loss, claims, price, etc.) and various forms of external data (bureau loss costs, bureau trends, macroeconomic data, market share, market pricing, etc.)
Ensures the accuracy and suitability of data for the business need at hand. Manipulates data, performs preliminary analysis and interprets data through Excel or other analytics platforms and presents recommendations.
Leads the completion of Rate Reviews, Ratemaking, and Actuarial Indications including support of forecasting investment rates of return, underwriting expense provisions, frequency, severity and exposure trends. Innovates and improves both accuracy and efficiency in the processes.
Leads the regular preparation of adequate loss and expense reserves estimates, including any financial information pertaining to reserves needed by the Financial Department, company management, or corporate including but not limited to Schedule P.
Leads the actuarial component of the company's planning processes.
For both Home Office and Regional Underwriting, identifies segments with profitable growth potential; identifies underperforming segments and proposes corrective actions to improve profitability.
Performs advanced analytics and modeling techniques including but not limited to generalize linear modeling and other forms of multivariate analysis. Tools used could include SAS, R, Pretium, Emblem, and distribution fitting coupled with stochastic simulation techniques. This role is expected to build, refine and improve existing models as well as develop new techniques and applications to different areas of the company.
Participates in enterprise risk management initiatives, including support for catastrophe management, economic capital modeling, internal rate of return studies, etc. Provides innovation and leadership when applicable.
Leads the innovation and efficiency efforts related to tools and analysis in support of Underwriting's pricing decisions with respect to large accounts as well as small commercial portfolio price adequacy analyses.
Builds and develops talent to ensure a staff capable of carrying out initiatives of the department. Keeps team focused on the tasks required, monitor’s progress and implements changes as needed. Manages staff vertically and/or horizontally. Mentors and motivates staff by providing frequent and specific feedback. Mentors and motivates staff by providing frequent and specific feedback. Contributes to company's success by developing departmental and individual goals, measuring results, rewarding achievement or developing performance improvement plans, as needed.
Directly supervises the Ratemaking or Reserving team in the Product Management Department. Is responsible for the overall direction, coordination, and evaluation of this unit. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
10+ years of actuarial experience in commercial lines (at least 5+ years of reserving work).
ACAS credentialed. BS degree. Solid communication skills.
Advanced degree and FCAS designation. Sarong programming and predictive modeling skills. Experience with diverse clients, and professional levels.
Required Knowledge, Skills or Abilities:
Language Skills: Ability to read, analyze, and interpret business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence and procedure manuals. Ability to effectively present information and respond to questions from groups of supervisors/managers, customers and/or employees.
Mathematical Skills: Ability to apply advanced mathematical concepts such as exponents, logarithms, quadratic equations, and permutations. Ability to apply mathematical operations to such tasks as frequency distributions, determination of test reliability and validity, analysis of variance, correlation techniques, sampling theory and factor analysis.
Reasoning Ability: Ability to interpret a variety of detailed instructions furnished in written, oral, diagram, or schedule form. Ability to take action in solving a wide range of practical problems in an inconsistent environment.
Computer Skills: Knowledge and proficiency in Microsoft Office Suite as well as demonstrated ability to learn other software as needed. Extensive working knowledge of Excel and a basic understanding of Sal or other data management software packages is expected. Working knowledge of specialized actuarial software is highly desired including ReservePro, R, Emblem, MarketStance, and Maplnfo.
Functions generally performed in an office environment. Must be able to work as a team member to solve problems and exchange information.
Some travel within the assigned territory.
Sedentary position which involves sitting and keyboarding, talking and hearing, some walking, lifting (10 lbs. or less), carrying, kneeling and bending. Specific vision abilities required include close and distance vision and ability to adjust focus.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The above description is not intended to be an "all-inclusive" list of the duties and responsibilities of the job described, nor is it intended to be such a listing of the skills and abilities required to do the job. Rather, it is intended only to describe the general nature of the job. You may be asked by supervisors or managers to perform other instructions and duties. You will be evaluated in part based upon your performance of the tasks listed in this job description.
About Union Standard Insurance Group (a W. R. Berkley Company)
Union Standard Insurance Group is a regional property casualty insurance company with offices in Arizona, Arkansas, New Mexico, Oklahoma, and Texas. We are a member company of the W.R. Berkley Corporation, an insurance holding company, founded in 1967, that is one of the nation's premier commercial lines property casualty insurance providers. Our financial strength ratings are among the best in t...he industry; A.M. Best A+, (Superior), Standard & Poor's A+ (Strong), and Moody's A2 (Strong) and a well-respected Fortune 500 Company.