Actuarial Senior Manager Commercial Lines

Ohio Farmers Insurance Company • Seville, OH • 1d ago

Job Summary
The Actuarial Senior Manager develops business strategies for actuarial function, oversees the reporting processes and actuarial analysis, and monitors KPIs. The role also provides expertise on rate and product filing, oversees pricing, reserving, and reporting activities, leads complex problem solving, and champions the adoption of actuarial analytics across business units in the organization. The role also provides people leadership for a team or multiple teams of actuarial employees.
Job Responsibilities
Develops profitable targets and business strategy, and formulates policies that manage Property Casualty rates, reserves, risk capital, and product research.
Maintains, expands, and applies knowledge of the insurance industry, actuarial trends, market conditions, and competitor information and shares that information with Actuarial and other business units.
Develops and maintains an enterprise view of profitability, risks, and opportunities across multiple projects and initiatives, while ensuring cross-company compliance.
Oversees actuarial model development to support financial projections, pricing, underwriting and the quarterly/monthly financial reporting processes.
Reviews premium recommendations and policies to meet the financial objectives of the organization.
Oversees financial reconciliations and inputs on reinsurance levels and attribution methodologies.
Partners with client teams to address complex actuarial needs including trend and reserve setting, discount positions of various networks, and resolves other financial complications.
Oversees the risk assessment process associated with stop loss, and guides development of new metrics and benchmarks in pursuit of leveraging data as a strategic asset.
Drives actuarial thought leadership and innovation across the organization, championing the adoption and benefits of actuarial analytics.
Delivers insights and creates analytics capabilities that will enable the organization to succeed in value-based arrangements.
Leads the annual actuarial corporate planning process, and drives annual budget creation and completion of monthly budget variance reporting and forecasts as needed.
Drives talent management, employee selection, succession planning, performance management, compensation management, employee development and coaching in career development, and operational management.
Participates in professional industry groups and creates a network of key contacts to stay abreast of industry changes, and customers' and employees' expectations.
Job Qualifications
10+ years of Actuarial work experience with 3+ years of people management experience.
Bachelor's degree preferred in Actuarial Sciences, Business, Finance or related field and/or commensurate work experience.
Master's degree in a related field is preferred.
Extensive experience in Commercial Lines Pricing preferred.
Behavioral Competencies
Directs work
Collaborates
Develops talent
Strategic mindset
Customer focus
Communicates effectively
Ensures accountability
Drives vision and purpose
Decision quality
Business insight
Nimble learning
Builds effective teams
Manages complexity
Member of American Academy of Actuaries
Technical Skills
New Product Development
Pricing Strategy
Business Process Improvement
Project Management
Market Research
KPI Tracking
Corporate Reserving
Knowledge of Generally Accepted Accounting Principles
Policy Formulation
Data Analysis and Reporting
Risk Management
Insurance Industry Knowledge
This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.
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