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Job Description Summary
Role is accountable for influencing the profit and loss and sound decision-making that supports the top and bottom line health of E&S/Specialty Management Liability. Interfaces with external clients, including reinsurers, brokers, agents and vendors. Collaborates with internal business partners in order to review and make recommendations regarding rate levels, actuarial support for filings, IBNR levels, risk management strategies including use of reinsurance, profitability forecasting, predictive models (creating and/or maintaining and updating), annual business planning, as well as any other topic requested. Leads a team of Actuarial professionals; develops the professional and technical skills of assigned staff. Completes a wide variety of actuarial assignments and, in particular, proposes usable techniques for dealing with new or unique problems. May represent the Chief Actuary in their absence.
Job Description
Reporting Relationships: Reports to VP, Chief Actuary E&S Specialty. People leader role with 3+ direct reports
Core Duties and Responsibilities:
- Develops rate indications or estimation of required bulk reserves. Determines the segment of business to review or analyze. Meets with client to understand the book of business and obtain the necessary information to perform a sound actuarial analysis.
- Provides training for and develops the professional skills of assigned staff, including standard management duties as well as teaching both basic and complex actuarial methods. Supports the professional development of Actuarial direct reports through sponsorship of and championing their participation in the Nationwide Actuarial Study Program.
- Oversees and/or completes non-routine/routine information requests by analyzing the request, asking for more information if required, retrieving the appropriate data, compiling the data, preparing an effective exhibit, and delivering and explaining the results to the client by the due date. Requests may come from other actuaries, underwriters, claims examiners, General Agents. Typically, non-routine requests involve a higher degree of understanding of actuarial methods/techniques, insurance and/or the database structure.
- Provides procedural input, pricing, and reserving information to the Vice President and Chief Actuary in order to keep him/her abreast of pricing and reserving decisions and/or situations.
- Provides support for state insurance department filings. Receives support requests from actuary, reviews filing forms and determines data requirements, retrieves the data, compiles the data, and completes the required forms by the due date.
- Establishes and manages processes that are well documented, enable professional peer review, and are consistent (subject to business needs) with the processes and practices used by the Actuarial teams across E&S/Specialty.
- Serves on committees and teams for Management Liability, E&S/Specialty, P&C Finance and/or other Nationwide organizations, as appropriate and requested
- Performs other duties as assigned.
Typical Skills and Experiences:
Education/Certification/Licenses: Undergraduate degree in actuarial science, mathematics, statistics or similar background requiring modeling, programming or quantitative analysis. Achievement of Fellowship in the Casualty Actuarial Society and is a member of the American Academy of Actuaries.
Experience/Skills: Minimum 10 years, people management 5 years.
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring managerâs leader and HR Business Partner.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Job Conditions
Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Normal office environment. Some travel may be required.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
Evaluation Activity: DC 12/2019
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