Purpose:
Manage/direct the development, analysis, evaluation and modeling of the company's liabilities by a group of actuaries using actuarial and/or predictive modeling methods and processes to support the accurate identification and establishment of the company's financial obligations. Work with other management and corporate areas to provide strategic direction. Manage the performance and professional development for a group of Actuarial Analysts.
Roles & Responsibilities:
- Manage and complete actuarial and/or predictive modeling analyses appropriate for the functional area. Direct, develop and implement effective practices for the timely, accurate and professional completion and prioritization of all of the department's assigned projects.
- Manage the development, prioritization, maintenance and enhancement of actuarial and/or predictive modeling models which support the establishment of the company's loss reserves.
- Lead and/or manage the completion of required data preparation, including data input and reconciliation. Identify complex data & operational issues requiring specialized actuarial attention and take action to address them.
- Collaborate with Finance areas to book quarterly IBNR amounts in support of the quarterly financial close.
- Communicate with internal and external Finance, Reserving, and audit groups to highlight drivers of business results.
- Identify and develop additional opportunities to share reserving analyses and subsequent recommendations to other areas.
- Manage and/or lead communication, documentation and coordination of information, resolution of technical issues, and activities between actuarial departments, as well as with internal & external colleagues (business units, IT, etc.).
- Manage the department in developing new methodologies, analyses, and procedures for American Modern. Maintain current knowledge of trends and products in the insurance industries.
- Complete high-level or supervisory reviews on actuarial and/or predictive modeling work and provide constructive feedback as needed. Maintain consistency of methods as appropriate. Coordinate with other actuarial areas.
- Assess the training needs and ensure the technical and professional development of the staff. Lead the department staff in the training of others (underwriters, product analysts, product managers, accountants, actuaries, claims associates) regarding reserving analyses and corporate financials.
- Be responsible for the overall management and technical oversight of actuarial and/or predictive modeling staff including those decisions related to hiring, assessing performance and determining of compensation.
- Prepare for and Pass Actuarial Exams if applicable. Attain appropriate continuing education according to the US Qualification Standard issued by the American Academy of Actuaries.
- Ensure all work and work products adhere to applicable Actuarial Standards of Practice as promulgated by the American Academy of Actuaries.
- Maintain an expert level of technical actuarial and statistical skills and concepts. Adapt to varying and changing set of products and dynamics and provide input and direction on the most efficient and effective methods appropriate for the functional area. Share this knowledge with others.
- Demonstrate ability to apply judgment and problem solving skills to address different, complex and high profile issues. Make non routine decisions.
Required Technical Skills:
- Proficient computer skills and application of MS Office Suite, including the ability to manage programmers. The ability to lead innovative and decisive decision making in order to foster and develop more advanced techniques in worksheets and other applications as appropriate for functional area.
- Familiarity with ResQ, PowerBI, Cognos, Oracle, and SQL is beneficial
Required Core Competencies:
- Communicates Effectively
- Interpersonal Savvy
- Develops Talent
- Collaborates
- Strategic Mindset
- Drives Results
Experience, Education, Certifications & Designations:
- Bachelor's Degree. Attainment of Fellowship in the Casualty Actuarial Society (FCAS) preferred but will consider those that have attained Associateship (ACAS). Membership in the American Academy Of Actuaries (MAAA).
- Minimum of 7 years of experience.
- Prior management experience desired.
Working at
Munich Re
Munich Re is a leading reinsurance company that provides insurance products to other insurance companies. The company was founded in 1880 and has grown to become one of the largest reinsurers in the world. Munich Re offers a wide range of reinsurance products, including property and casualty reinsurance, life and health reinsurance, and specialty reinsurance. In addition to traditional reinsurance products, the company also offers risk consulting and management services to help clients identify and mitigate potential risks. Munich Re has a strong reputation in the industry and is known for its expertise in underwriting and risk assessment. The company has operations in numerous countries around the world and is a key player in the global insurance market.