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AVP Actuary - Pricing

Location
Chicago, IL

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Description Job Summary Leads and directs a diverse team of actuarial and data professionals to complete actuarial pricing activities supporting Commercial Liability products (General Liability, Automobile, Umbrella and Life Sciences). Liability premiums of $1.4B account for nearly half of the Commercial portfolio imparting a significant influence on Commercial profitability. Works closely with the Commercial Liability Underwriting Product and Segment Leads to provide strategic portfolio guidance, establish and maintain proprietary and bureau based rating plans, including predictive models; and support the strategic analysis and placement of reinsurance programs, all within an evolving, state of the art pricing environment focused on maximizing efficiency and delivering business value. This positionu2019s broad responsibility across a large portfolio supporting multiple key business partners provides an excellent leadership environment for the experienced managing actuary. Essential Duties & Responsibilities Performs a combination of duties in accordance with departmental guidelines: Directs the work activities and has full management responsibility for the performance and development of staff in accordance with corporate talent management framework. Builds the infrastructure for the long-term support of actuarial operations while meeting short-term business and compliance requirements. Secures necessary resources to achieve actuarial pricing objectives and allocated resources to optimize budgets. Participates with senior leadership in the development and implementation of actuarial policies, business strategies and goals regularly evaluating performance against goals and holding self and team accountable for achieving desired results. Collaborates with and influences senior leadership in the development and implementation of pricing strategy for a product line or segment. Leads reinsurance pricing activities through data preparation, financial analysis, business allocation and risk transfer analyses. Develops recommendations to Senior Management for optimal placement. Collaborates with the Commercial Actuarial Services unit and peer Commercial Actuarial Pricing teams to build a modern, state of the art actuarial pricing environment leveraging new technology, processes and actuarial methods designed to operate in a highly efficient manner delivering high quality, influential business support. Collaborates with internal business partners to ensure optimal, compliant implementation of business strategies; facilitates communication and provide technical guidance to Underwriting regarding the pricing of new and existing business and works with others on actuarial issues. Leads various actuarial activities including but not limited to portfolio profitability monitoring, product development, planning and forecasting, and individual risk pricing segmentation. Provides actuarial support for financial reporting as required including certain SOX control requirements. May participate in industry trade groups, professional activities, act as an expert witness and may represent the company with government agencies as the need or interest arises. May perform additional duties as assigned. Reporting Relationship SVP or above Skills Knowledge & Abilities Senior level knowledge of actuarial principles practices and procedures and industry issues as they relate to the organization. Ability to effectively lead, coach and develop an actuarial and data professional team. Ability to achieve results by taking a proactive long-term view of business goals and objectives. Excellent analytical critical thinking and problem solving skills with the ability to effectively plan and manage multiple projects and project work teams. Ability to effectively interact and collaborate with all levels of CNAu2019s internal and external business partners possessing excellent communication negotiation and presentation skills. Ability to exercise professional judgment and assume responsibility for decisions which have an impact on people and quality of service. Ability to solve issues with a sense of urgency; utilizes and manages all available resources to make informed decisions and achieve superior results. Ability to creatively and effectively manage through ambiguous and challenging business problems leads through change and takes appropriate levels of risk. Demonstrates the knowledge and understanding of when and how to use metrics to make informed business decisions. Knowledge of Microsoft Office Suite and other business-related software systems including processing systems and applications. Education & Experience Bachelor's Degree in a relevant discipline or equivalent. Typically a minimum of ten years of actuarial work experience including prior leadership and management experience. Experience in commercial lines; Property & Casualty experience Fellowship accreditation (FCAS) is strongly preferred. *LI-WM1EEO Statement: CNA is an Equal Opportunity Employer committed to a diverse work culture. M/F/D/V. Job Actuarial

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