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Director, Actuarial & Analytics - Middle Market Commercial Accounts Group (CAG)

Company: The Travelers Companies, Inc.
Location: Saint Paul
Posted on: November 22, 2021

Job Description:

Company SummaryTaking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.Target Openings1Job Description SummaryThe Director, Actuarial and Analytics is an analytic leadership role that is responsible for the implementation of a variety of actuarial/statistical techniques and analyses which may include reserving, rate making, pricing, planning/forecasting, project management and research. This role is expected to execute strategic and operational initiatives, drive change within assigned unit, provide analytical insights and recommendations to leadership and business partners, and share ownership of the business's financial results.The Director, Actuarial and Analytics will work within broad limits and authority on complex assignments requiring specialized knowledge and expertise in breadth and/or depth in one or more of the following areas: Actuarial and/or research methods Advanced statistical analyses Broad business knowledge In-depth Line of Business knowledge Broader awareness of enterprise Actuarial & Analytics community. This role may act as a manager of a small team.Travelers offers a hybrid work location model that is designed to support flexibility.Primary Job Duties & Responsibilities

  • Lead actuarial analysis primarily for WC line of business and assist home office and field partners to optimize business executionCollaborate and partner with different organizations (Actuarial Product, BCO Line Management, business leaders) in analyses, recommendations, execution guidance.
  • Develop and monitor pricing strategies & execution across Commercial Accounts, Technology, and Public Sector (flagged rate strategy, forward-looking account disruption, rate decomposition review).
  • Own and lead CAG WC granular rate adequacy analysis and decisions and provide Plan support to team as neededPartner with Actuarial Product on WC rate plan management and communication.
  • Evaluate benchmark disruption when there are model updates, provide input to benchmark changes based on business unit knowledge, and communicate final impacts and insight to field partners.
  • Conduct Field training for UPDP for Middle Market Benchmark Tools and seek to provide and instill transparency and confidence in benchmark indications.
  • Provide business unit insight during Reserve Reviews and communicate results to business partners including guidance, recommendation, or reinforcement of business execution based on results.
  • Perform and lead ongoing business execution analysis for assigned industries and regions for all lines, communicate findings to business partners, and collaborate on needed actions.
  • Perform large account pricing, and be the team leader for large account pricing best practices, communication of updates, coordination of tools or factor changes with Actuarial Product (ALPP) or within team (PEAR).
  • Conduct Field training for AEs/AMs for Large Account Pricing Tools.
  • Represent CAG in Enterprise factor study results meetings, review and provide sign-off for factors to be used by CAG, communicate changes and disruption to business partners.
  • Provide actuarial leadership of support and analysis for Loss Sensitive book of business.Manage at least one direct reportMinimum Qualifications
    • Bachelor's Degree required.
    • Minimum of 4 years of experience performing quantitative analysis required.Education, Work Experience, & Knowledge
      • College degree in STEM related field.
      • Associate Actuarial Credential preferred.
      • 7+ years of quantitative analysis experience.
      • Strong understanding of insurance products and industry.
      • Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
      • Management experience.
      • Excellent communication, collaboration and relationship-building skills.
      • Ability to present and translate complex information in relevant business terms.
      • Strong PC skills (MS Office) and programming skills (eg. SQL, SAS).Job Specific Technical Skills & CompetenciesLeadership:
        • Begins to challenge conventional thinking.
        • Takes ownership of projects related to strategic initiatives and makes recommendations to influence business outcomes.
        • Proficient in Leading Self, exhibiting decisiveness and self-awareness while also effectively managing ambiguity.
        • Initial development of Leading Others, including modeling the way for others and effectively leading team projects.
        • Initial development of Leading the Business, including actively engaging in driving business results, broad thinking and promoting an Enterprise culture.Business Acumen:
          • Has an in-depth understanding and knowledge of certain key business drivers and disciplines such as: underwriting, products, reinsurance, distribution, sales, operations, risk control, claim, and financials.
          • Able to effectively utilize this business knowledge in developing and implementing analytic solutions.
          • Has a general perspective of the industry and developing trends, including: technology, analytic methodology, products, and performance of competitors.
          • Is familiar with other key business drivers and disciplines.Relationship Management:
            • Proactively build and own professional business relationships across the Enterprise.
            • Generate and solicit ideas, and build consensus
            • Aware of potential conflict and address proactively.
            • Acknowledge accomplishments of others within your primary working group.
            • Set and manage expectations with business partners for large projects.
            • Understand diverse perspectives to effectively accomplish business goals.Quantitative Analysis:
              • Able to introduce innovative techniques to existing problems.
              • Independently perform and implement complex analytics.
              • Leads and actively engages in technical/peer reviews.
              • May offer technical consultative feedback.
              • Can assess various technical solutions to optimize analytical outcomes.Employment PracticesTravelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.Travelers reserves the right to fill this position at a level above or below the level included in this posting.To learn more about our comprehensive benefit programs please visit : 0

Keywords: The Travelers Companies, Inc., St. Paul , Director, Actuarial & Analytics - Middle Market Commercial Accounts Group (CAG), Executive , Saint Paul, Minnesota

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