The Manager Actuarial is responsible for overseeing assigned actuarial staff and projects; for hiring and training actuarial staff; providing technical support for other areas such as Product Management & Development, Underwriting & Rating, and Sales; assisting senior management decision makers by providing specialized reports and analysis of data on both a routine and ad hoc basis; and is accountable for developing employees, preparing rate filings, providing actuarialsupport for financial forecasts, and monitoring financial results.
This is not an exhaustive list of all job duties/functions/attributes. Depending on Role, essential responsibilities may also include oversight and management of people and functions described below.
- Communicate effectively.
- Supervise entry-level and mid-level actuarial staff.
- Prepare rate filings for large group, small group, direct pay, or senior products.
- Work with Underwriting and Rating, Sales and Product Management and Development to develop and implement appropriate rating strategies for group, direct pay or senior lines of business. Ensure that all strategies are in compliance with rate filings and applicable regulations.
- Provide advanced support for the claim reserve process.
- Provide assistance and risk management to the Product Management and Development area for pricing development of new products. Ensure that all new products are financially viable and stable.
- Determine underlying factors impacting pure premium trends for various products and regions. Monitor trends for use in rating. Identify any shifts in trend and take appropriate pricing actions.
- Other duties as assigned or requested.
Education, Licenses/Certifications, and Experience (For Experience requirements please see appropriate role/level guide. If not applicable, list experience requirements below.)
Describe in objective and non-comparative terms the minimum education level, previous experience, specific knowledge skills and abilities the individual must have to perform the job.
- Bachelor’s degree
- 5 or more years of experience in the Actuarial field
- 2 or more years of management experience and/or experience leading teams and/or projects of varying size and complexity
- Attainment of the ASA (Associate) designation in the Society of Actuaries
- Must be committed to pursuing actuarial exams and obtaining Fellowship in the Society of Actuaries
- Bachelor’s degree in Actuarial Science, Mathematics, or Statistics
- 7 or more years of actuarialexperience
- Completion of two FSA-level exam components
- Member of the American Academy of Actuaries
KNOWLEDGE, SKILLS AND ABILITIES:
- Ability to apply extensive knowledge of actuarial methods and procedures
- Strong supervisory, communication, organization and project management skills
- In-depth knowledge of one or more of the following: premium rate calculations, required reserves, plan design, trend analysis, rate table construction, actuarial research, or systems development
SCOPE OF RESPONSIBILITY:
Does this role supervise/manage other employees: Yes
- Is TravelRequired: Yes
- Unusual Working Conditions: Physical Demands
- The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- This job requires the ability to work as a team member. Additionally, this job requires the willingness and ability to report to work on a regular and timely basis and may require irregular work hours, holidays and/or weekends.
SKILLS AND CERTIFICATIONS [note: bold skills and certification are required]
- Security Clearance Required: No
- Visa Candidate Considered: No
- Full-time Benefits - Full
- Relocation Assistance Available - Yes
- Interview Travel Reimbursed - Yes
- 5+ to 7years’ experience
- Minimum Education - Bachelor's Degree
- Willingness to Travel - Occasionally