VP, Head Of Pricing

  • 37189
  • Non-Life - Actuarial
  • |
  • Ontario, Canada
  • |
  • Apr 13, 2020
Insurance
RESPONSIBILITIES
  • Lead reserving activities, portfolio profitability management, reinsurance analyses, or the support of market-facing business units in the most complex environments and lines of business.
  • Coordinate, prepare and perform actuarial analyses including loss and premium projections, consultation on actuarial models, or capital modeling.
  • Support Finance, market-facing business units, Claims, Risk, Capital Management, and other functions on reserving and strategic business decisions.
  • Provide consultation, direction, and technical expertise on actuarial models and risk issues.
  • Ensure that the claims provisioning processes for assigned Business Unit/s are appropriately governed in accordance with Group, Regional, and Local regulatory policies.
  • Lead the pricing of new/renewal business and development of effective pricing/rating structures in the most complex environments and lines of business.
  • Manage profit margins on new and renewal business and lead analyses related to tracking and improving portfolio performance.
  • Coordinate, prepare and perform actuarial analyses including trend analyses, reinsurance analyses and analyses of loss and expense reserves, as it relates to pricing adequacy and strategic direction.
  • Collaborate with and influence Market Facing and Product Underwriting on strategic portfolio and individual account pricing decisions.
  • Provide consultation, direction, and technical expertise on actuarial models and risk issues.
  • Lead the design, testing and maintenance of pricing models and tools.
  • Interface with regulators and auditors on pricing issues.
  • Remain current with regulatory/market conditions and apply this knowledge in pricing.
  • Take a lead role in pricing accounts, performing risk transfer analysis, and reviewing collateral needs.
  • May interact with external customers and clients through the pricing of large, complex products and individual accounts.
  • Local/Business Unit oversight of all Line Of Businesses or Regional oversight of multiple Line Of Businesses.
  • Provide thought leadership on portfolios or global actuarial issues with a moderate to high level of complexity / diversity.
  • Deputize for the chief pricing actuary, chief reserving actuary or other superior as needed.
  • Volunteer and network with local Actuarial and/or leadership organizations to increase professional profile and company’s presence.
  • Adhere to professional standards of practice as defined by the relevant local actuarial society, regulatory body, or other governing body.
  • Lead team in providing professional actuarial support and advice to the regional chief pricing actuary or chief reserving actuary and to the actuarial business partners including insights into underlying performance and implications for the business.
  • Individually responsible for reserving or pricing of complex or specialty lines through providing the highest level of actuarial advice, in order to ensure profitable new business/renewals, and highly informed and stable reserving.
  • Ensure that data, methodology and processes used in analyses are such that outputs meet the required quality; opine on the flow and quality of relevant data, working cross functionally to ensure required quality and granularity is available for analyses.
  • Assess the effectiveness of internal processes and participate in bringing recommendations to Virtuous Circle and company Profitability Review/performance assessment processes in order to drive improvements for own area.
  • Develop improvements to processes and standards in order to increase consistency with internal actuarial policies and guidance and, where relevant, compliance with regulations.
  • Conduct analyses and provide high quality actuarial advice to enable business critical decisions to be made related to mergers & acquisitions and/or special projects that are outside of normal business as usual or geographic responsibilities.
  • Complete complex actuarial activities to develop risk based capital models and conduct parameterization and allocation activities.
  • Drive the research of best actuarial practice, and review/analyze current practice area to support senior management in developing and improving processes and systems.
  • Make informed actuarial recommendations based on professional judgment and experience; effectively challenge and/or escalate issues within business decisions or processes that are not able to be supported from an actuarial standpoint.
  • Significant responsibility for the recruitment, training, mentoring and professional development of actuarial staff; work with direct reports to formulate actionable Individual Development Plans.
QUALIFICATIONS
  • Bachelor’s Degree in Mathematics/Statistics or Actuarial Sciences and 10 or more years of experience in the Actuarial area AND FCAS or equivalent international certification OR
  • Bachelor’s Degree in Mathematics/Statistics or Actuarial Sciences and 15 or more years of experience in the Actuarial area AND ACAS or equivalent international certification AND People management skills.
  • Preferred:
  • People management experience.
  • Experience in multiple functional areas and knowledge/skills reflective of a senior practitioner.
  • Strong verbal and written communication skills.