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Job Description Summary
Responsible for the management and execution of the strategic roadmap of Excess & Surplus / Specialty pricing in coordination with Underwriting, Advanced Analytics and/or Enterprise Analytics Office, and other functions as appropriate.
Leader will partner closely with the E&S/S pricing leaders, product leaders, underwriting, advanced analytics, EAO, IT and other areas to manage the strategic roadmap and project portfolio. Individual will also be responsible for communicating best practices and contributing to operational efficiency improvements across all E&S/S actuarial spaces.
Reporting Relationships: Reports to VP, CFO - Specialty Lines. Leads a team of 4+ associates.
• Develop and maintain a strategic roadmap for E&S/S advanced analytic pricing projects, in partnership with E&S/S Product, Underwriting, E&S/S Finance/Pricing, Advanced Analytics and P&C Actuarial, inclusive of initiatives to advance and automate the rate making process (net trend, indications), pricing segmentation, annual financial planning and tools and template development for the pricing team.
• Manage intake of strategic advanced analytic pricing projects and coordinate prioritization across E&S/S Product, Underwriting, E&S/S Finance/Pricing, Advanced Analytics and P&C Actuarial. Develop business cases for projects in partnership with IT and secure funding through annual portfolio funding process. Track and report on progress of projects and benefit realization.
• Ensure execution of strategic advanced analytic pricing projects for which primary accountability falls within the scope of the E&S/S pricing team (e.g., pricing sophistication projects, pricing competitor analysis, expense segmentation, risk segmentation, etc.) Coordinate with E&S/S pricing leaders and other areas (e.g., AAL, IT, EAO), as appropriate.
• Coordinate with product, pricing, analytics and actuarial on pricing projects for which primary accountability for 'creation/modeling' sits outside of E&S/S pricing and ensure successful landing of advance pricing models within the team Partner with pricing and IT teams to file and implement all pricing projects.
• Partners with Finance and Product to develop operational and strategic plans and forecasts for E&S/S. Coordinates with finance on projected financial impacts of pricing segmentation / project implementation.
• Oversees the development, implementation, and ongoing refinement of analytical tools tools/processes to enhance decision making and evaluate profitability and risk exposure for all E&S/S products. Leads ongoing efforts to automate processes and improve efficiency through the utilization of technology. This includes responsibility for increasing efficiency through current methodology and leading efforts to identify new process/technology solutions including artificial intelligence.
• Responsible for E&S/S Pricing data governance strategy, overseeing efforts to enhance data quality, ensuring protection of sensitive data, and representing E&S/S Pricing as a thought leader on data governance and advanced analytics projects related initiatives across the enterprise.
• Drive efforts to increase actuarial team's knowledge and skillset around advance analytics and pricing sophistication.
May perform other duties as assigned.
Typical Skills and Experiences:
Education: Undergraduate studies in actuarial science, advance analytics, business, finance, mathematics, economics, or related field with strong quantitative orientation. Bachelor's degree preferred.
License/Certification/Designation: Insurance or business-related professional designations such as FCAS, ACAS, CPCU required.
Experience: Typically, ten years related experience (pricing, actuarial, product, advanced analytics). Prior management experience.
Knowledge, Abilities and Skills:
• Leadership - ability to attract, hire and develop strong talent
• Communication skills - strong verbal and written communication skills, including the ability to build and defend a business case, provide executive level recommendations and reporting
• Actuarial / Advance Analytics - Demonstrated ability to comprehend/explain actuarial concepts and other advanced analytical technical concepts. Ability to assimilate information and make recommendations based on a combination of factors
• Technical skills - foundational knowledge of modern technology and modern actuarial data and tools; experience working on and implementing advanced modeling
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring manager's leader and HR Business Partner.
Overtime Eligibility: Exempt (Not Eligible)
Working Conditions: Normal office environment
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
Valid through: 6/5/2021