AVP - ACTUARIAL SERVICES
Apply NowCompany: Universal Insurance
Location: Sarasota, FL 34232
Description:
General Description:
The AVP of Actuarial Services provides oversight and direction to the Actuarial Department of Universal North America (UNA). The primary responsibilities of this position are to lead UNA's ratemaking and rate filing processes for current and future states in all product lines of insurance, to determine and properly support actuarial reserves, and is responsible for the preparation of any actuarial analyses requested by Management, the appointed external actuary, auditors, regulatory departments, and rating agencies.
Essential Duties and Responsibilities:
Supervise Actuarial Department, review weekly work, prioritize workload and project management, and provide direction to team members.
Responsible for the development and implementation of departmental strategies.
Responsible for the preparation of rules and rate manuals.
Oversee and lead all rate filing processes and pricing projects, including but not limited to quarterly rate adequacy reviews, ratemaking, internal rate indications, and financial analyses.
Manage competing internal interests and workload with respect to data requirements, ratemaking, rate filings, product development, and reserving analyses.
Interact as needed with relevant regulatory authorities on filings and testifies as required in support of rate filings.
Lead the review of new product strategies, design, pricing, and implementation of rate changes.
Lead all aspects of the reserving processes including but not limited to reserving process management, data preparation and analysis, claims monitoring, IBNR allocation, presentation of "selected ultimate loss" proposal to Senior Management, and review of reserve accounting.
Responsible for the development of new reserving tools and improvements to existing reserving methodologies.
Responsible for the collaboration with the Finance Department to implement the reserving selection for accounting and forecasting purposes.
Oversee all internal actuarial work necessary to assist in the timely completion of the Statement of Actuarial Opinion and in support of external audits.
Responsible for ensuring compliance with regulatory requirements and assurance of timely submission of Statement of Actuarial Opinion, reserving policy, etc.
Lead the collaboration and partner with internal stakeholders including Claims, Pricing, Product, Sales, Marketing and Underwriting on claims findings.
Communicate estimates and proposed changes clearly and succinctly. Presents results to executive stakeholders with professional visual analysis and summaries.
Lead projects associated with the development and update of Actuarial Models and Databases through formula development, research on methodologies and collaboration with other departments, to ensure timely availability of accurate data.
Responsible for ensuring appropriate spreadsheet and data stewardship within the Actuarial Department in such a way that it can be easily reviewed by a peer or external parties.
Successfully complete training sessions to remain current with industry trends and changes.
Lead project teams both with and without formal reporting authority.
Provide information to be used in the overall company annual budget to finance department on an ongoing basis.
Assist in completion of regulatory and rating agencies' requests and data calls.
Perform other duties as required.
Supplemental Information:
This job description has been prepared to indicate the general nature and level of the work that the employee performs within their classification. This description is not and cannot be interpreted as an inventory of all the duties, tasks, responsibilities and qualifications required for the employees assigned to this job.
Education and / or Experience:
Bachelor's degree in Mathematics, STEM related field or insurance-related discipline and a minimum of 12 years of actuarial experience.
A minimum of 2-5 years management/leadership experience within actuarial for a property and casualty insurer.
Broad understanding of personal lines property and home businesses including claims practice, pricing, and coverage. This includes an understanding of geographic and regulatory issues and concerns.
Ability to perform actuarial analysis to develop reserve estimates, product feedback, claims strategies and changes.
Data-driven decision maker, able to complete thorough research and investigation, yet make timely decisions.
Excellent analytical and organizational skills with the ability to balance the strategic and the tactical.
Excellent proficiency with Microsoft Office programs, to include Excel, Word, Outlook, and PowerPoint. Familiarity with rating and database systems (e.g. SAS, SQL). ResQ experience preferred.
Ability to lead a team of independent contributors and to collaborate and influence in a team-based environment.
Ability to build strong working relationships and a positive work environment.
Achieves a standard of excellence with work processes and outcomes, honoring company policies and regulatory compliance.
Receptive to feedback and willing to learn, embracing continuous improvement.
Ability to deal effectively with individuals at all levels and attain desired results.
Must have the ability to collaborate with cross-functional team to achieve business results.
Works well under stress and tight deadlines.
Effective verbal and written communication, presentation, negotiation, and persuasion skills.
Team oriented, building strong working relationships and a positive work environment.
Outstanding public speaking, presentation and oral / written communication skills required.
Mathematics and analytic skills; close familiarity with catastrophe modeling applications and reinsurance structures.
Licenses and / or certifications:
Associate of the Casualty Actuarial Society (ACAS) and member of the American Academy of Actuaries (MAAA) required.
Fellow of the Casualty Actuarial Society (FCAS) highly desired.
The AVP of Actuarial Services provides oversight and direction to the Actuarial Department of Universal North America (UNA). The primary responsibilities of this position are to lead UNA's ratemaking and rate filing processes for current and future states in all product lines of insurance, to determine and properly support actuarial reserves, and is responsible for the preparation of any actuarial analyses requested by Management, the appointed external actuary, auditors, regulatory departments, and rating agencies.
Essential Duties and Responsibilities:
Supervise Actuarial Department, review weekly work, prioritize workload and project management, and provide direction to team members.
Responsible for the development and implementation of departmental strategies.
Responsible for the preparation of rules and rate manuals.
Oversee and lead all rate filing processes and pricing projects, including but not limited to quarterly rate adequacy reviews, ratemaking, internal rate indications, and financial analyses.
Manage competing internal interests and workload with respect to data requirements, ratemaking, rate filings, product development, and reserving analyses.
Interact as needed with relevant regulatory authorities on filings and testifies as required in support of rate filings.
Lead the review of new product strategies, design, pricing, and implementation of rate changes.
Lead all aspects of the reserving processes including but not limited to reserving process management, data preparation and analysis, claims monitoring, IBNR allocation, presentation of "selected ultimate loss" proposal to Senior Management, and review of reserve accounting.
Responsible for the development of new reserving tools and improvements to existing reserving methodologies.
Responsible for the collaboration with the Finance Department to implement the reserving selection for accounting and forecasting purposes.
Oversee all internal actuarial work necessary to assist in the timely completion of the Statement of Actuarial Opinion and in support of external audits.
Responsible for ensuring compliance with regulatory requirements and assurance of timely submission of Statement of Actuarial Opinion, reserving policy, etc.
Lead the collaboration and partner with internal stakeholders including Claims, Pricing, Product, Sales, Marketing and Underwriting on claims findings.
Communicate estimates and proposed changes clearly and succinctly. Presents results to executive stakeholders with professional visual analysis and summaries.
Lead projects associated with the development and update of Actuarial Models and Databases through formula development, research on methodologies and collaboration with other departments, to ensure timely availability of accurate data.
Responsible for ensuring appropriate spreadsheet and data stewardship within the Actuarial Department in such a way that it can be easily reviewed by a peer or external parties.
Successfully complete training sessions to remain current with industry trends and changes.
Lead project teams both with and without formal reporting authority.
Provide information to be used in the overall company annual budget to finance department on an ongoing basis.
Assist in completion of regulatory and rating agencies' requests and data calls.
Perform other duties as required.
Supplemental Information:
This job description has been prepared to indicate the general nature and level of the work that the employee performs within their classification. This description is not and cannot be interpreted as an inventory of all the duties, tasks, responsibilities and qualifications required for the employees assigned to this job.
Education and / or Experience:
Bachelor's degree in Mathematics, STEM related field or insurance-related discipline and a minimum of 12 years of actuarial experience.
A minimum of 2-5 years management/leadership experience within actuarial for a property and casualty insurer.
Broad understanding of personal lines property and home businesses including claims practice, pricing, and coverage. This includes an understanding of geographic and regulatory issues and concerns.
Ability to perform actuarial analysis to develop reserve estimates, product feedback, claims strategies and changes.
Data-driven decision maker, able to complete thorough research and investigation, yet make timely decisions.
Excellent analytical and organizational skills with the ability to balance the strategic and the tactical.
Excellent proficiency with Microsoft Office programs, to include Excel, Word, Outlook, and PowerPoint. Familiarity with rating and database systems (e.g. SAS, SQL). ResQ experience preferred.
Ability to lead a team of independent contributors and to collaborate and influence in a team-based environment.
Ability to build strong working relationships and a positive work environment.
Achieves a standard of excellence with work processes and outcomes, honoring company policies and regulatory compliance.
Receptive to feedback and willing to learn, embracing continuous improvement.
Ability to deal effectively with individuals at all levels and attain desired results.
Must have the ability to collaborate with cross-functional team to achieve business results.
Works well under stress and tight deadlines.
Effective verbal and written communication, presentation, negotiation, and persuasion skills.
Team oriented, building strong working relationships and a positive work environment.
Outstanding public speaking, presentation and oral / written communication skills required.
Mathematics and analytic skills; close familiarity with catastrophe modeling applications and reinsurance structures.
Licenses and / or certifications:
Associate of the Casualty Actuarial Society (ACAS) and member of the American Academy of Actuaries (MAAA) required.
Fellow of the Casualty Actuarial Society (FCAS) highly desired.