Director of Analytics and Actuary

  • 38547
  • Non-Life - Actuarial
  • |
  • Minnesota, United States
  • |
  • Nov 9, 2020
Insurance
RESPONSIBILITIES
  • Manages interdepartmental efforts with actuarial staff, business leaders and technical experts to develop innovative business solutions and insights.
  • Acts as a champion to leverage internal and external data to improve efficiencies, decision-making and allocation of resources.
  • Mentors business on value proposition of use of analytics to overhaul existing processes.
  • Leads corporate predictive modeling initiatives.
  • Works with external vendors of predictive models and internal business teams to analyze the profitability of business segments and processes, and provide actionable insights.
  • Ensures that models are accurate, being used properly, and recommendations are being followed.
  • Delivers in-house actuarial and financial calculations, with associated documentation, processes and implementation efforts.
  • Oversees this work from actuarial staff before distributing to other departments within the organization.
  • Interfaces with company’s consulting actuaries to finalize reserve analyses.
  • Oversees review and analysis of rating components for insurance rates, pricing, procedures and plans.
  • Uses modeling techniques and statistical concepts to assess risks.
  • Analyzes catastrophic loss exposure and confirms recommendations on reinsurance levels.
  • Directs Enterprise Risk Management capital modeling efforts, with effective integration into the strategic decision-making process.
  • Sets vision to provide effective and innovative design formats and alternative methods for visualizing and delivering information to manage the business, identify trends and improve profitability.
  • Leverages Business Intelligence tools and staff resources to ensure key and timely data is provided to leaders, employees, and business partners.
  • Empowers leaders by analyzing information rapidly.
  • Regulates report development work including the review of new requests for proper justification and prioritization of work.
  • Focuses on report reliability and functionality that add true business value.
  • Exercises significant judgment in setting priorities and determining necessary tasks.
  • Sets and communicates vision and expectation levels to team members and relates them to corporate vision and strategic direction.
  • Actively seeks ways to drive business results through the use of data, using broad thinking and promoting a corporate culture of adaptability.
  • Provides the day-to-day management of actuarial and business intelligence staff, including organizing/overseeing all work prepared by the department, managing deadlines, assigning work to the staff, checking work and preparing some of the work personally as needed.
  • Provides tools/resources needed for the group to accomplish stated objectives. Proposes change and innovation in order to improve project team performance and timelines.
  • Leads the development of actuarial and business intelligence talent within the organization.
  • Creates individual development plans to enrich staff performance and value.
  • Challenges staff to develop professionally or as leaders while serving as a role model and mentor.
  • Encourages and supports team member decisions consistent with established boundaries based on team members’ experience and demonstrated ability to make good decisions.
  • Leads team members to make decisions based on established criteria/goals and monitors performance to achieve successful results.
  • Provides guidance and advice regarding technical actuarial and business intelligence issues.
  • Participates in the recruitment of and selection of talent and the management of performance related matters in partnership with human resources.
  • Assesses performance using results-based measures and performance improvement needs as a source of employee development.
  • Distributes assignments and conducts performance reviews/check-ins regularly.
  • Defines and clarifies team members’ job responsibilities, accountabilities and performance standards.
  • Inspires staff to attain goals and pursue excellence.
  • Identifies opportunities for improvement and makes constructive suggestions for improved performance.
  • Effectively utilizes each staff member to his/her fullest potential.
  • Performs any other tasks required to complete special projects as directed by management.
  • May represent the company on industry and professional committees and/or with regulators.
QUALIFICATIONS
  • Bachelor’s degree in Mathematics, Actuarial Science, Statistics, Risk Management, Economics, Data Science or related quantitative field required.
  • Fellow of the Casualty Actuarial Society designation and/or a Master’s Degree in a data Science related field of study.
  • Ten years or more, of analytics experience in property and casualty, preferably workers’ compensation insurance, with an emphasis on statistical/predictive modeling. Quantitative analysis experience is desirable.
  • Ability to create unique solutions to complex problems.
  • Must be able to see the big picture and think strategically and creatively.
  • Strong analytical, financial analysis and problem-solving skills.
  • Effective leadership and supervisory skills with ability to develop an effective team.
  • Demonstrates an in-depth understanding and knowledge of key business drivers and disciplines within the insurance industry such as underwriting, reinsurance and risk control.
  • Advanced knowledge of pricing and actuarial techniques.
  • Advanced software experience working with financial spreadsheets and word processing applications, preferably Excel and Word; specifically, data, table and graph functions.
  • Strong customer service skills.
  • Strong and effective oral and written communication skills including effective presentation skills.
  • Sound judgment and decision making capabilities.
  • Demonstrates positive teaming skills.
  • Must be able to maintain confidentiality of sensitive information.
  • Strong organizational skills including the ability to manage multiple projects and work with minimal direction using effective delegation where appropriate.