Chief Actuary, Global Pricing

At AIG, we are reimagining the way we help customers to manage risk. Join us as the Chief Actuary, Global Pricing to take on key responsibilities within a world-class actuarial function.

Make your mark in Actuarial

Our Actuaries are on the front lines, quantifying risk, pricing insurance and reserving losses for AIG's major insurance operating companies, globally. We collaborate with Finance, Claims, Operations, Marketing and Risk Management, among other functions. As an AIG actuary, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage and mitigate risk.

How you will create an impact

The Chief Actuary, Central Pricing leads the Global Pricing function, which supports pricing decision making across AIG through the development of raters; sets the standards, best practice and guidelines in which the day-to-day actuarial pricing support is carried out and improved at AIG; centralizes the actuarial insights that are developed across AIG.

• Matrix Reporting into North America and International Chief Actuaries ("Chief Actuaries") and member of the Actuarial Leadership Team (LT)
• Provides more horizontal view of global portfolios
• Location: Flexibility exists as long as based in an AIG Actuarial location (Atlanta, Chicago, NYC, London, etc.)

Direct Responsibilities:

• Collaborate across the organization, including Actuarial, the CUO office, Claims, IT, Operations and the Data Office to further support portfolio reviews and decision making to enable profitable growth
  • Participate in review of profitability studies and development of the plan loss ratios
  • Partner with Actuarial and the Data Office to advance the data agenda for AIG and increase availability of usable data for analyses
  • Develop and explore partnership opportunities with the CUO office and Claims to further portfolio review capabilities including the use of industry models, external data, aggregation, trends, etc.
  • Manage the Rate Monitoring team and process to develop the monthly report and provide key observations to management
• Lead the efforts to build out raters globally on the preferred platform , Hyper Exponential
  • Partner with Actuarial, IT and Operations to prioritize the rater development be it within SCUP or in native hx
  • Ensure sunsetting of legacy platforms and systems where possible
• Develop and enforce the measurement of global pricing effectiveness standards and strategies
  • Continue the evolution of the global prospective year loss projection tool ("Exhibit A")
  • Develop and maintain the standards and review process for pricing models, rate monitoring, including the documentation of underlying models and processes
  • Partner with ERM to ensure effective review and challenge process for actuarial models
• Push the agenda around Pricing MI across the globe
  • Partner with Actuarial and the Data Office around key initiatives such as Segmentation (linking pricing and reserving data) and GAD for Rate Monitoring Data
  • In partnership with key stakeholders, develop reports and diagnostics such as the Frequency Severity Dashboard
  • Explore the calculation and capture of Actual vs. Technical Pricing to help assess rate adequacy and look to further the tiering of portfolios to enable more effective pricing strategies
• Actively engage in the development of models, including predictive models, to improve pricing and risk selection capabilities
  • Develop a hub and spoke framework to ensure the build of models within Actuarial is done with consistency and sustainability
  • Improve the modeling capabilities across at AIG via the Actuarial forum, the provision of technical training (R, Python, hx, etc.) and facilitating the Analytics Practitioner group
  • Explore the applicability of no code predictive modeling
• Authority - has the delegated authority in conjunction with the Global Chief Actuary to halt any pricing strategy, pricing model, or pricing management reporting that is deemed inadequate or contrary to stated objectives

• Anticipate a direct team of 10-20 with matrix relationships elsewhere; some staff could be transfers internally or resources via Accenture. Precise numbers will be T.O.M. outgrowth but driving towards cost neutrality here

What you'll need to succeed

The candidate should possess a strong technical and business expertise with the ability to collaborate, build strong relationships, influence stakeholders and lead teams.

• 20+ years of progressive experience at a major global P&C insurance company or a well regarded actuarial consulting firm
• Proven track record of success in managing a team of highly driven, successful professionals; leadership qualities to effect change and lead an experienced team
• A demonstrated enthusiasm for technical and pricing actuarial expertise
• Strong executive presence coupled with organizational and communication skills, with the ability to confidently present internally and externally and influence for outcome.
• Ability to maintain strong professional relationships with multiple stakeholders
• Proven ability to diagnose complex business issues through research and analysis which ultimately leads to value-additive strategy and actions
• Ability to dive into technical and execution level details, do hands-on work, connect the dots while thinking strategically and serve as a strong thought partner of cross functional leaders.
• Highest level of personal and professional integrity.

The base salary range is $250,000 - $310,000, and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we're proud to offer a range of competitive benefits, a summary of which can be viewed here: AIG Benefits Overview.

Ready to set new industry standards? We would love to hear from you.

#LI-CM1

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what's most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security-as well as your professional development-to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world's most far-reaching property casualty networks. It is an exciting time to join us - across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of belonging

We're committed to creating a culture that truly respects and celebrates each other's talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through our flexible work arrangements, diversity and inclusion learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The diversity of our people is one of AIG's greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to candidatecare@aig.com.

Functional Area:

AC - Actuarial

Estimated Travel Percentage (%): Up to 25%

Relocation Provided: No

AIG PC Global Services, Inc.