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Allstate

Allstate

VP Head of PC Actuarial Reserving

VP Head of PC Actuarial Reserving

Job Details
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Uploaded On
December 4, 2023
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Location
United States
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Remote?
No
Company Overview
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Headquarters
Northfield Township, IL
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Number of Employees
45780
Estimated Number of Actuaries
320
Salary
$
k-$
k
Glassdoor Ratings
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Recommend to a Friend
51%
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Overall Score
3.4 / 5
The world isn't standing still, and neither is Allstate. We're moving quickly, looking across our businesses and brands and taking bold steps to better serve customers' evolving needs. That's why now is an exciting time to join our team. As a leader in a corporation with 83,000 employees and agency force members, you'll have a hand in transforming not only Allstate but a dynamic industry. You'll have opportunities to take risks, challenge the status quo and shape the future for the greater good.

You'll do all this in an environment of excellence and the highest ethical standards - a place where values such as integrity, inclusive diversity and accountability are paramount. We empower every employee to lead, drive change and give back where they work and live. Our people are our greatest strength, and we work as one team in service of our customers and communities.

Everything we do at Allstate is driven by a shared purpose: to protect people from life's uncertainties so they can realize their hopes and dreams. For 89 years we've thrived by staying a step ahead of whatever's coming next - to give customers peace of mind no matter what changes they face. We acted with conviction to advocate for seat belts, air bags and graduated driving laws. We help give survivors of domestic violence a voice through financial empowerment. We've been an industry leader in pricing sophistication, telematics, digital photo claims and, more recently, device and identity protection. We are the Good Hands. We don't follow the trends. We set them.

Job Summary:

The VP & Head of P&C Actuarial Reserving role is a remote based leadership position responsible for activities of actuarial staff involved in the analysis of losses and liabilities to ensure adequate reserving and overall financial strength across personal and commercial lines, including run-off reserving for Asbestos and Environmental exposures, for all Allstate brands. This role leads a team of managers and analysts to execute highly complex and strategic projects, while leveraging broad functional expertise and knowledge of the business to serve as a subject matter expert across the organization. Responsible for engaging senior leadership to influence business decision related to line(s) and/or geographic areas.

Key Responsibilities:

  • Leads P&C actuarial reserving across multiple business units and lines of business. Team includes actuaries and non-actuaries across a variety of skill levels and experience.
  • Valuation of liabilities, calculation of reserves, testing of reserve adequacy, cash flow analysis, and other financial analysis and reporting for financial statements and forecasts.
  • Collaborates with key stakeholders to understand loss and loss expense dynamics and project reserve need
  • Responsible for communicating aggregate reserving resulting. Leads the quarterly Loss Committee Meeting that includes top executives. Presents to Board of Directors.
  • Provides assumptions and data to financial accounting and tax units for projecting future results on product lines and may participate in developing product investment strategy.
  • May handle state insurance matters, filings, and other studies and research.
  • Works closely with external actuaries including auditors and Appointed actuaries
  • Ensures that reserves are accurately recorded and reported appropriately
  • Participates in M&A projects as needed; coordinating valuation efforts regarding target company reserves, processes and staffing


Supervisory Responsibilities:

This job does have supervisory duties.

Education and Experience:

  • Minimum of 10 to 15 years of related experience in a large, complex organization, with a reputation for excellence.
  • A bachelor's degree in actuarial science/mathematics; an advanced degree is highly desired.


Certificates, Licenses, Registrations:

  • Fellowship of the Casualty Actuarial Society (FCAS) is required.


Functional Skills:

  • Highly effective collaboration skills that enable influence at all levels, from C-suite to frontline management, often without direct leadership accountability over resources.
  • Strong change agility - thrives in a complex, fast paced, rapidly evolving environment. Has led through transformational changes, developing a compelling vision, and executing against a plan
  • Analytical, uses data and insights to inform decisions and promotes and environment that does the same. Fluent in digital strategies and technology advancements.
  • Influential communicator - clear, honest, effective - across all levels, internally and externally; able to navigate and productively resolve conflict
  • Demonstrate and foster a sense of urgency, strong commitment, and accountability while making sound decisions and achieving goals.
  • Fosters a culture of excellence, accountability, empowerment, and inclusive diversity
  • Authentic, transparent, and honest approach aligned with company values and leadership principles. Customer-first mentality embedded in all decision making.
  • Skilled in integrating self into an existing organization in a diplomatic and productive fashion while being an effective agent for change.
  • Establishes and cultivates relationships with teams, peers, and the business as well as externally
  • Deal effectively with ambiguity, change, and adapt appropriately to a range of situations.
  • Be of unquestionable integrity, ethical and moral character.
  • Role model for inclusive leadership.
  • Advanced business acumen and leadership experience (of projects, people preferred).
  • Drive innovation to create an atmosphere that supports new ideas and initiative thinking.

The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.

Learn more about life at Allstate. Connect with us on Twitter, Facebook, Instagram and LinkedIn or watch a video.

Allstate generally does not sponsor individuals for employment-based visas for this position.

Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.

For jobs in San Francisco, please click "here" for information regarding the San Francisco Fair Chance Ordinance.
For jobs in Los Angeles, please click "here" for information regarding the Los Angeles Fair Chance Initiative for Hiring Ordinance.

To view the "EEO is the Law" poster click "here". This poster provides information concerning the laws and procedures for filing complaints of violations of the laws with the Office of Federal Contract Compliance Programs

To view the FMLA poster, click "here". This poster summarizing the major provisions of the Family and Medical Leave Act (FMLA) and telling employees how to file a complaint.

It is the Company's policy to employ the best qualified individuals available for all jobs. Therefore, any discriminatory action taken on account of an employee's ancestry, age, color, disability, genetic information, gender, gender identity, gender expression, sexual and reproductive health decision, marital status, medical condition, military or veteran status, national origin, race (include traits historically associated with race, including, but not limited to, hair texture and protective hairstyles), religion (including religious dress), sex, or sexual orientation that adversely affects an employee's terms or conditions of employment is prohibited. This policy applies to all aspects of the employment relationship, including, but not limited to, hiring, training, salary administration, promotion, job assignment, benefits, discipline, and separation of employment.
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Working at 

Allstate

Allstate Corporation is one of the largest personal lines insurers in the United States, offering a range of insurance products including auto, home, renters, and life insurance. The company was founded in 1931 and is headquartered in Illinois, with operations in the United States, Canada, and other countries. Allstate is known for its innovative use of technology to improve the insurance experience for its customers, including the use of telematics to monitor driving behavior and offer discounts to safe drivers. The company also offers a variety of insurance products and services through its subsidiary companies, including Allstate Financial and SquareTrade. In addition to insurance, Allstate provides a range of financial services, including retirement planning, investment products, and banking services. The company is committed to social responsibility and supports a number of community initiatives, including disaster response and recovery efforts, education programs, and workforce development. Overall, Allstate is a respected leader in the insurance industry, known for its innovative products, financial stability, and commitment to social responsibility.