Partners with the Head of Portfolio Management & Reinsurance to analyze the global GRS portfolio and advise the leadership on setting and executing on portfolio management strategies to achieve our aspirations. Actively monitors the composition and performance of the portfolio globally and conduct scenario analysis to ensure we are making the right strategic decisions to move the GRS organization towards a low 90s combined ratio and achieve our $1 billion underwriting profit opportunity. Works to provide our Global Product Leaders and Business CUOs and Actuarial counterparts the information needed to conduct analysis and make strategic portfolio decisions for their respective line/business unit. Works with the Chief Actuary, Planning, Performance and Portfolio Management to design and build out this new function and team.

Strategy & Planning:

• Partners with the Head of Underwriting Portfolio Management & Reinsurance to create the integrated portfolio management strategy and plan across SBUs and support communication across the organization, with a focus on the underwriting key performance indicators (KPIs) and associated metrics
• Conducts scenario analysis in developing the portfolio management strategy setting and plan
• Advises the business and Global Product Leaders, and actuarial counterparts, on setting and executing on portfolio management strategies in alignment with the overall GRS underwriting strategy
• Advises on the ceded reinsurance program design and strategy

Execution:

• Supports formulation of a consistent portfolio management framework across GRS, standardizing core metrics and visualizations, as well as efforts to roll-out and reinforce
• Leads and creates development of Actuarial strategy around portfolio management
• Proactively identifies and analyzes meaningful groupings of risks that can drive loss ratio performance
• Supports alignment across all SBUs and Product Boards, on an execution plan for the key risk groupings identified
• Monitors ongoing performance across SBUs and products, to determine deviations from and implications to portfolio guidance and strategies
• Provides insights and guidance to actuarial and cross-functional peers
• Advises on portfolio shaping (areas to grow, fix, or maintain) and development of action plans
• Acts as an actuarial thought leader on portfolio strategies for GRS and advises on the building the underwriting strategy for GRS

Talent Management

• Develops and nurtures key talent and supports effort to enhance actuarial capabilities across GRS Actuarial
• Keeps abreast of new actuarial methodologies, trends and product/ tort reforms and other external issues

Qualifications

• Bachelor’s degree required
• Insurance designations desirable
• Fellowship in the Casualty Actuarial Society (FCAS) designation required, or comparable actuarial education/designation combined with relevant experience
• Demonstrated ability to apply the depth/breadth of actuarial skill and business acumen that often comes from at least 3-5 years of highly technical casualty insurance and management experience since attaining fellowship in the CAS
• (Overall) 10 or more years of progressively more responsible experience, including managerial experience
• Analytical skills with solid understanding of all casualty actuarial techniques, standards, and assumptions
• Expert knowledge of insurance operations and P&C insurance business
• Ability to manage a mix of assignments that tend to be more strategic than tactical
• Demonstrated ability to exchange ideas and convey complex information clearly and concisely, both verbally and in writing
• Demonstrated ability to anticipate areas of senior management concern, integrate different perspectives, and respond accordingly
• Exceptional interpersonal and communication skills required to establish and build effective relationships within and outside the organization
• Ability to give effective training and presentations to senior management and other groups
• Demonstrated ability to organize, lead, and get work done through others
• Demonstrated ability to select and develop staff members
• Demonstrated ability to exert influence among operating managers on matters of importance
• Demonstrated ability to influence senior managers on matters of significant importance

Job Specifications:

Reference: 2023-53564
Category: Actuarial
Primary Location: Boston, MA
Additional Locations: Remote
Schedule: Full-Time

Salary: USD-$205,000.00-–-$265,000.00-/-Year
Education Level: Bachelor’s Degree
Travel: As Needed

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