AVP - Actuarial Pricing
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Essential Functions:
- Oversees and facilitates all actuarial involvement in the establishment, execution, and oversight of the necessary profitability strategies/targets to achieve enterprise goals for the middle market regions, considering marketing goals, underwriting appetite standards and competitive rate studies.
- Oversees the actuarial support for rate filings and leads the implementation of rate changes and preparation of both internal and external documents & manuals.
- Collaborates with actuarial peers in the analysis and selection of various expense and forecasting methods and assumptions, including credibility, trends, and large loss and cat loads for the middle market regions. Oversees the implementation of these methods in the middle market rate review process.
- Partners with Actuarial peers in the development of initial expected loss ratio (IELR) forecasts, selection of middle market inputs for forecasting, trends, and ongoing performance monitoring.
- Provides support to the Actuary Rating and Actuarial Applications team in the development and support of rates, rate algorithms, rate impact, and rate assessment capabilities. Oversees the quality, consistency, and accuracy of the team’s work products.
- Provides strategic actuarial support in the implementation of enhanced and new insurance products and coverages.
- Develops service standards collaboratively with the middle market regions to optimize meeting their needs and operational efficiency.
- Fosters an environment of collaboration with regional branch leaders, marketing, and underwriting in establishing and implementing strategies for regional profitability and growth.
- Oversees budget, ensuring resources are allocated strategically. Builds culture and fosters team expertise. Leads and develops a high-performing team, supporting team development and succession planning. Performs all duties expected of a people leader at EMC
Education & Experience:
The education and experience below are required for the job unless labelled as preferred:
- Bachelor’s degree in mathematics, actuarial science, statistics, or a related field
- Ten years of progressively responsible experience in the actuarial area of a property and casualty insurance company with five years in a leadership capacity
- Attainment of FCAS
Knowledge, Skills & Abilities:
The knowledge, skills, and abilities below are required for the job unless labeled as preferred:
- Superior knowledge of actuarial pricing and ratemaking methods, regulatory and filings procedures/requirements, and rating algorithms.
- Detailed knowledge of commercial lines P&C insurance products, coverages, and services
- Superior verbal and written communication skills
- Strong relationship management skills and talent development skills
- Excellent critical thinking and problem-solving abilities
- Exceptional organizational skills with the ability to meet deadlines by way of a results-oriented focus
- Occasional travel required; a valid driver’s license with an acceptable motor vehicle report per company standards required if driving
The hiring salary range for this position will vary based on geographic location, falling within either of the following:
$164,948 - $237,006 or $182,317 - $260,703
A hiring range represents a subset of the full salary range. The actual salary will depend on several factors, including relevant education, skills, and experience of an applicant, geographic location, and business needs.
For information relating to the benefits EMC Team Members receive as part of a comprehensive rewards package, please visit www.emcins.com/careers.
Our employment practices are in accordance with the laws that prohibit discrimination due to race, color, creed, sex, sexual orientation, gender identity, genetic information, religion, age, national origin or ancestry, physical or mental disability, medical condition, veteran status, active military status, citizenship status, marital status or any other consideration made unlawful by federal, state, or local laws.
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