Job Title: Actuarial Director

Location:  Sarasota, Florida   

Department:              Underwriting
Supervised by:          SVP Underwriting
FLSA:                         Exempt
Job Posted:               10/24/2011     

General Description: The Actuarial Director supervises and participates in the all product pricing reviews, researches, analyzes and develops actuarial indications and makes pricing recommendations in coordination with Product, Risk Management and Sales teams. Actuarial Director develops rate filings and provides input and support into all Product changes and provides consultation and support to MGA partners that create product filings on behalf of UNA. This individual provides all required Actuarial Certifications as required for product filings.

The Actuarial Director effectively develops, manages and leads a staff of employees who analyze premium information and loss experience data to forecast the financial results of insurance products and the product services necessary to support major product markets. Develops products and enhances existing products specific to identified target markets that contribute to the effectiveness of market initiatives achieving planned growth and profitability objectives.

The Actuarial Director develops actuarial assumptions (loss development, trend, credibility, expenses, etc.) to formulate pricing analyses for insurance products and ensures the development of sound recommendations for pricing and insurance operations.

The Actuarial Director manages financial resources including developing, administering, and assuring conformance to the annual department budget.

Essential Duties and Responsibilities:

• Prepares loss, expense, and premium data for actuarial pricing reviews and/or ratemaking; estimates future loss and premium results
• Trains and approves work of others; instructs others on company systems, databases, applications, business, policies, practices and regulations
• Retrieves and manipulates data; responsible for suitability and accuracy of data
• Performs complex ad hoc analyses and special assignments and projects
• Conducts analyses that adhere to actuarial standards of practice: selects appropriate data sources and methods, makes assumptions, recognizes considerations and develops recommendations
• Documents assumptions, methods, sources, considerations; organizes documents
• Notes unreasonable results/non-optimal solutions; investigates; suggests alternative resolutions
• Prepares memos, documents, and letters as needed
• Communicates with concise, logical, organized, and grammatically correct content with the appropriate level of technical terms suitable to the audience that may include both internal and external parties including regulatory bodies
• Develops personal work schedule to ensure timely completion of assigned tasks; coordinates with others as need to complete tasks
• Leverages relationships with business partners (Product, Sales, Risk Management, Systems, etc.) to achieve routine and more complex assignments
• Makes business presentations to internal and external audiences
• Builds and validates statistical/actuarial models to enhance rating and/or underwriting
• Monitors the effectiveness of statistical/actuarial rating and/or underwriting models
• Participates in Peer Reviews and subjects own work to the review of peers
• Trains new associates on standard work processes
• Participates in interview/hiring activities
• Applies appropriate data mining techniques to discover new relationships in the data
• Evaluates and documents new techniques, methodologies and software to support research projects
• Develops project plans to support research projects and acts as the lead for selected research projects
• Participates, as assigned, in interdisciplinary teams
• Manages administration of human resource-related activities including timely performance and salary reviews and ensures all subordinates adhere to human resources policies and practices
• Applies knowledge using tactical, strategic, and innovative analysis to evaluate costs, benefits and risks of various insurance product options of market initiatives and to help in achieving planned growth and profitability objectives
• Maintains knowledge of current market trends and competitors’ products to formulate positioning and distribution of new or existing products
• Responsible for interpreting and understanding state and federal legislation and its impact on insurance products and programs
• Keeps the Senior Vice President informed of all work plans and projects and of the quality of results for each product assignment
• Performs other related duties as assigned.

Education and / or Experience:

Education: Bachelors degree (preferred) in actuarial science, business, finance, mathematics, statistics, economics or related field with a strong quantitative orientation.

Certification: ACAS or FCAS 

Experience: Minimum five years experience in a P&C business unit (e.g., pricing, actuarial, product) with focus on Personal Lines ratemaking. Strong Excel, Access, VBA and other programming skills.

Knowledge: Mastery of standard actuarial methodologies and insurance concepts, terminology and products. Displays command of legal and regulatory requirements in area of assignment as well as pricing procedures and methodologies.

Skills and Competencies:  Demonstrated work product accuracy.  Effective verbal/written communication skills; Demonstrated ability to comprehend actuarial concepts and other advanced statistical concepts; Demonstrated ability to think logically and perform actuarial methods in a timely manner. Desire, ability and experience in developing actuarial students to full independent competency. Ability to effectively operate personal computer and related spreadsheets and data base software. Proficient in the use of standard actuarial methodologies and continues to develop knowledge of more advanced actuarial methodologies. Evaluates alternative methods for use.