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Actuarial Director, Reserving & Loss Analytics

Apply locations St. Paul, MN United States of America Kansas City, MO United States of America New York, NY United States of America Jersey City, NJ United States of America Chicago, IL United States of America time type Full time posted on Posted 6 Days Ago job requisition id R23_1979

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Job Summary

Arch Insurance Company is seeking a motivated actuarial candidate to join a dynamic Reserving and Loss Analytics team. This is a unique dual-purpose role. Reserving-related and claim analytics engagements account for a portion of the role, with focus on E&S Casualty and the Canada book of business. Additionally, this role will have explicit focus on the Corporate Actuarial function, including management of regulatory communication, NAIC Statement of Actuarial Opinion processes, external and internal audit framework, third-party reserve analyses on behalf of the Arch Insurance Group, SOX compliance, as well as US GAAP and Statutory reporting requirements in closer partnership with both Arch Insurance Group Finance organization and Arch Capital Group Actuarial and Finance organizations.

This position will require application of the latest actuarial approaches to ensure appropriate reserve adequacy and reporting, as well as innovative thinking to help drive newly developed strategic vision and leverage available data, industry information, foundational analytics for critical decision making, and help with development of analytical tools and insights.

The ideal candidate will have strong analytical, technical and communication skills, be committed to developing strong business acumen, and most importantly, will work well in a team environment in close partnership with Pricing Actuarial, Underwriting, Claim, IT, Finance, and other functions.

Organization and prioritization skills are crucial to this role, given its dual-purpose nature. The candidate will need to balance multiple tasks and coordinate with other members of the time to help with resources as needed.

This position offers a challenging role, opportunities for growth and advancement, a competitive compensation package, solid benefits, in a dynamic and forward-looking actuarial team. Depending on the candidate, this position may include management of 1-2 staff members.

Responsibilities

A.) Reserving & Loss Analytics

Assist with the Arch Quarterly Reserving process (i.e. Arch reserve analyses and reports, including discussions with claims, underwriters, finance, senior management, and outside consultants and auditors)
Assist with and/or lead the development of new reserving techniques, as well as new ways to access and examine the data while leveraging external and internal information, and helping improve and expand visuals to support findings and provide insight to senior management.
Partner with IT and Enterprise Data teams to bring efficiencies to and modernize our current data processes as well as enhance analytical capabilities
Assist with and/or lead quarterly in-depth analysis for several business divisions, the discussions around assumptions and uncertainty, including presentation to executives, development of ongoing forecast process together with input on trend and plan projections
Collaborate closely with business division leaders, pricing actuarial, and claims to identify loss trends and emerging issues that could impact results and assist in developing proposals for corrective action in a timely manner

B.) Audit, Compliance, & Financial Reporting

Assist in developing a discussion supporting the quarterly result and the drivers behind it
Assist with developing tools, metrics, dashboards to inform and support the quarterly result and drivers behind it
Assist with GAAP and SAP Financial Reporting (e.g. actuarial opinions, actuarial reports, statutory statements, and 10-Q/K reporting)
Communicate and coordinate with third parties regarding independent reserve analyses
Assist and/or lead SOX compliance efforts

C.) Profitability Reviews

Assist with Quarterly Underwriting Year, NPV, and ROE analyses as needed.

Education and Experience

The successful candidate will have the following requirements:

Prior experience in a corporate or business unit reserving function strongly preferred.
Experience with programming (such as SQL, R or Python) preferred.
Ability to lead projects and get work done in collaboration with others.
Ability to establish and build effective relationships within the organization.
Demonstrated ability to exchange ideas and convey complex information clearly and concisely, both verbal and in writing.
Experience presenting results / findings to senior management a plus.
A critical thinker who will challenge others in a respectful manner and will be open to being challenged.
An individual who is a quick self-study and has the ability to balance multiple tasks simultaneously. Adaptable, flexible, and thrives in a fast-paced and ever-evolving environment.
A detail-oriented person who can be committed to both quality as well as accuracy.
Intellectually curious – willing to ask questions and challenge assumptions.
An understanding and appreciation of the peaks and valleys in the work flow required of a dynamic reserving and loss analytics function that combines both corporate reserving responsibility as well as insight driven reserving studies.
Associate or Fellow of the Casualty Actuarial Society preferred (non-credentialed candidates with strong prior experience will be considered)
5+ years of experience
Reserving experience and/or Corporate Actuarial experience is strongly preferred
Management experience a plus

For individuals assigned or hired to work in California, Colorado, Jersey City, NJ; New York State; and/or Washington State, the base salary range is listed below. This range is as of the time of posting. Position is incentive eligible.

$129,500 - $201,066/Year

Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above range may be modified in the future
Click here to learn more on available benefits

Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch’s Talent Acquisition team.

Arch Capital Group Ltd. is a Bermuda-based specialty insurer that provides insurance, reinsurance and mortgage insurance on a worldwide basis. With a 20+-year track record of delivering results and a coveted position on the S&P 500 index, Arch is a great place to grow your career.

Arch Capital Group Ltd. (Arch) and its affiliates take your interest in working here very seriously.

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Actuarial Director, Reserving & Loss Analytics