Actuarial Director, Pricing - Hybrid

Company: McNeil & Co.
Location: Jersey City
Posted on: November 13, 2024

Job Description:

Actuarial Director, Pricing
Locations: Chicago, IL; Kansas City, MO; New York, NY; Jersey City, NJ; St. Paul, MN
Time Type: Full Time
Posted: 5 Days Ago
Job Requisition ID: R24_1049
With a company culture rooted in collaboration, expertise, and innovation, we aim to promote progress and inspire our clients, employees, investors, and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility---.
Your Role
Our group supports Healthcare Medical Professional Liability. The Healthcare business provides highly specialized and tailored primary and excess insurance products in Professional Liability, General Liability, and Commercial Auto Liability, largely to Other Medical Facilities, Hospitals, and Long-Term Care Facilities. Medical Professional Liability is a growing, unique, and specialized product, requiring creativity due to the ever-evolving nature of medical services and their delivery.
Job Functions:

• 
  
• Business Leader: The primary role will be to run the HC division working closely with the underwriters and the business unit leadership team.
  
• Profitability Reviews: Review products by applying actuarial concepts and techniques to determine portfolio profitability; analyzing and digging into detailed segmentations; and providing insight to our business partners.
  
• Large Account Pricing: Provide pricing and guidance for pricing new and renewal large accounts.
  
• Monitor and Reporting: Monitor portfolio rate change, pricing adequacy and underwriting mix change on new and renewal business to guide Program Managers and make informed decisions. Suggest and implement improvements to these processes.
  
• Actuarial Studies: Analyses and research to improve pricing parameters and segmentation to better identify profitable opportunities. Establish benchmark pricing and monitor results to benchmark.
  
• Tool Building: Design, program, and maintain critical tools used in pricing and book monitoring such as automating existing processes, segmentation, developing new insights to monitor the business, and working closely with the business on strategies.
  
• Partnering with Strategic Analytics: Work closely with actuaries and predictive modeling teams to deploy advanced analytics and automation tools to help our businesses underwrite more profitably.
  
  Key Evaluation Criteria:
  
  • 
    
  • P&C Actuarial qualifications: ACAS, FCAS, or similarly qualified professional.
    
  • 5 to 10 years of experience or more, including:
    
    • 
      
    • In-depth understanding of key business drivers and disciplines such as underwriting, products, reinsurance, claims, and financial statements.
      
    • Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
      
    • Provided business support and other due diligence on new business opportunities.
      
    • Proven ability to challenge conventional thinking and provide recommendations to influence outcomes.
      
      
      
    • This role highly values strong software/programming skills, such as Python and SQL, for building underwriting tools and advanced research projects.
      
    • Superior communication skills are important for partnering with underwriters and presenting to business leaders.
      
      Why work at Arch:
      
      • 
        
      • Values actuaries: Arch's CEO, CFO, President, and many unit heads are actuaries. They will both cross-examine you and highly value your insights.
        
      • Opportunity: No experience minimums or waiting your turn. Arch has a lot of opportunity because of our growth and entrepreneurialism, and many Arch actuaries have been promoted within current roles in recognition of outstanding performance.
        
      • Culture: 92% of Arch employees are proud to work for Arch. We love the positive attitudes and collaborative environment, and proudly recommend Arch to friends and former colleagues.
        
      • Flat structure: You will present to business unit leaders and senior actuarial executives, and your insights will make a difference.
        
        Arch Insurance Group, part of Arch Capital Ltd, is a specialty insurer built around talent-intensive businesses. We prioritize niche focus, underwriting expertise, flexibility, diversification, and disciplined cycle management. We work creatively to provide new value and solutions to our clients and distribution partners. Arch highly values actuaries and actuarial expertise. Many senior executives and business unit leaders are actuaries by training.
        For individuals assigned or hired to work in California, Colorado, Hawaii, 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.
        Salary Range: $129,500 - $201,066/Annual
        
        • 
          
        • 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 about 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.
          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.
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Keywords: McNeil & Co., Bloomfield , Actuarial Director, Pricing - Hybrid, Executive , Jersey City, New Jersey