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Actuary BI Actuarial Product - Umbrella and Professional

Location
Chicago, IL

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Actuary, BI Actuarial Product - Umbrella and Professional
in
Chicago
Illinois
15800BR
Title:
Actuary, BI Actuarial Product - Umbrella and Professional
Target Openings:
1
Primary Job Duties & Responsibilities:
Pricing/Ratemaking: Lead actuarial management of the Umbrella Line of Business, including development of rates, rating plans, pricing strategies, and financial forecasts to achieve the company objectives for profitability and growth. Monitor and report on Rate Adequacy in support of the annual Planning process. Manage Umbrella Benchmark calculations, including reporting and restatement processes. Lead a cross-functional Umbrella Working Group, working with Product, Platform, Business Unit, and Reserving partners. Support reinsurance analyses. Develop and oversee implementation of sound rates and/or rating plans/models. Work with regulatory unit to make filings. Project Mgmt: Manage or participate in key/complex actuarial projects, including cross-company actuarial initiatives. Present projects to senior level underwriting and actuarial management. Leadership/Mgmt: May supervise staff. If applicable, develop objectives and development plans, coach manage performance of staff to achieve excellence and ensure effective performance. Assists in determining goals and setting direction and priorities for the unit. Other duties as assigned.
Job Opening ID:
15800BR
Equal Employment Opportunity Statement:
Travelers is an equal opportunity employer.
Job Category:
Actuarial and Analytics
Job Summary:
Join the Business Insurance Actuarial Product team, supporting the Umbrella and Professional lines across Business Insurance. Lead actuarial management of the Umbrella Line of Business, including development of rates, rating plans, pricing strategies, and financial forecasts to achieve the company objectives for profitability and growth. Monitor and report on Rate Adequacy in support of the annual Planning process. Manage Umbrella Benchmark calculations, including reporting and restatement processes. Lead a cross-functional Umbrella Working Group, working with Product, Platform, Business Unit, and Reserving partners. Support reinsurance analyses. Services provided include: evaluation of existing rate levels and rate structures; design of rating plans; forecasting and interpretation of underwriting results. Manage and participate in complex projects.
Position Type:
Experienced/Professional
Education, Work Experience & Knowledge:
College Degree in actuarial science, mathematics, economics or statistic or equivalent preferred. 5 years of Actuarial/Analytic experience preferred. Understanding with base knowledge in complete range of actuarial functions, including but not limited to, reserving, pricing, business planning, financial reporting, management information, product development, reinsurance and database management. Independent analysis of challenging business issues. Basic understanding of actuarial and other insurance related models (i.e. property CAT, ROE and RBC models). Strong understanding of financial reporting, both GAAP and Stat. Strong understanding of income statements and balance sheets. Strong understanding of insurance products and marketplace conditions and how they impact financial models and results. Strong PC skills, Excel, Access, PowerPoint and Word. Sound understanding of databases and data extraction. Crisp and confident communication of analysis.
Physical Requirements:
Operates standard office equipment. Sitting (can stand at will). Use of Keyboards, Sporadic 10-Key.
Minimum Qualifications:
Bachelors degree or equivalent education required. 3 years analytics experience required. General knowledge of quantitative analysis required.
Company Information:
Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
Licensing or Certificates:
Associate Actuarial Credential required. Fellowship Actuarial Credential preferred.
Primary Location:
Hartford - Connecticut - United States
Secondary Location:
Chicago - Illinois - United States, Hunt Valley - Maryland - United States, St. Paul - Minnesota - United States
We are committed to valuing the diversity that exists among our workforce, our business partners, our customers and our communities. With respect to our workforce, we are committed to not only increasing diversity in our hiring at all levels but also fostering an inclusive environment where all employees, regardless of race, color, religion, gender, gender identity, age, national origin, disability, veteran status, marital status, sexual orientation, genetic information or any other status or condition protected by law, can develop and thrive.
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