Director, Actuarial & Analytics, Marine and Boiler
Company: The Travelers Companies, Inc.
Location: Hartford
Posted on: August 7, 2022
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Job Description:
Who Are We?
Taking care of our customers, our communities and each other. That
s the Travelers Promise. By honoring this commitment, we have
maintained our reputation as one of the best property casualty
insurers in the industry for over 160 years. Join us to discover a
culture that is rooted in innovation and thrives on collaboration.
Imagine loving what you do and where you do it.
Compensation Overview
The annual base salary range provided for this position is a
nationwide market range and represents a broad range of salaries
for this role across the country. The actual salary for this
position will be determined by a number of factors, including the
scope, complexity and location of the role; the skills, education,
training, credentials and experience of the candidate; and other
conditions of employment. As part of our comprehensive compensation
and benefits program, employees are also eligible for
performance-based cash incentive awards.
Salary Range
$119,800.00 - $197,600.00
Target Openings
1
What Is the Opportunity?
In Business Insurance Actuarial and Analytics, we deliver tailored
analytics and innovative data science solutions that influence
decisions and enable superior results. We have an inclusive culture
where everyone feels that they belong, can be authentic, are
valued, respected, empowered and part of our success. We see
strength in the uniqueness that each of us contributes to creating
innovative solutions and improving business outcomes.
The Marine and Boiler Actuarial Product team needs a Director of
Actuarial and Analytics to lead the modernization and
implementation of product rate plans and pricing guidance. This
work will include the enhancement of our pricing sophistication,
data strategy, and rating technology in Inland Marine, Ocean
Marine, and Boiler lines of business. The employee will benefit
from supporting multiples lines, seeing a variety of business
contexts and applications across unique corners of the insurance
marketplace.
The Director, Actuarial and Analytics, is an analytic leadership
role that is responsible for the implementation of a variety of
actuarial/statistical techniques and analyses which may include
reserving, rate making, pricing, planning/forecasting, project
management and research. This role is expected to execute strategic
and operational initiatives, drive change within assigned unit,
provide analytical insights and recommendations to leadership and
business partners, and share ownership of the business's financial
results. The Director, Actuarial and Analytics will work within
broad limits and authority on complex assignments requiring
specialized knowledge and expertise in breadth and/or depth in one
or more of the following areas: actuarial and/or research methods,
advanced statistical analyses, broad business knowledge, in-depth
line of business knowledge, and broader awareness of enterprise
Actuarial & Analytics community. This role may act as a manager of
a small team.
What Will You Do?
Strategy:
Product Modernization: lead the actuarial representation on a
BI-wide, cross functional initiative to modernize products. This
role's focus is on rating, pricing, benchmark application, data
strategy, and technology for the lines of business Inland Marine,
Ocean Marine, and Boiler.
Partner closely and engage with Product, Business Capabilities
Office, Underwriting, Information Management, Technology,
Regulatory, other Actuarial units including Analytics and
Research.
Assess, prioritize, influence and communicate strategic initiative
options to senior leaders.
Demonstrate effective execution and completion of assigned
strategic initiatives and projects.
Regularly generate process improvements and explore opportunities
for innovation.
Lead assigned unit strategic initiatives (narrow scope, limited and
well defined) and cross-unit initiatives on a limited basis and is
expected to participate in Enterprise initiatives on a limited
basis.
Operational:
Independently perform actuarial and analytic analyses to solve
business problems and apply judgment appropriately.
Drive day to day execution within unit. Support broad department
initiatives.
Promote efficiency across primary working group, balancing
additional effort against incremental lift gained from work.
Begin to make decisions independently in accordance with department
practices.
Provide direction and review others' analytical work.
Translate business requests into analytical solutions.
Provide support as necessary for initiatives across the Enterprise
within the scope of influence.
Have strong knowledge of and adhere to Travelers compliance
requirements
Aptitude for predictive modeling is a plus because this role offers
the opportunity to apply predictive modeling techniques.
Communication:
Communicates on a regular basis with staff, peers and business
partners and on an occasional basis with senior leaders.
Tailors communication of analysis, project results, and other
business initiatives to audience.
Communicates technical topics to non-technical audiences with
limited guidance.
Leads group discussions with primary working group.
Creates formal written communication such as memos or presentations
with limited guidance.
Able to influence and collaborate with peers and partners to take
actions to enhance business outcomes.
Talent:
Staff responsibilities over time are likely to include direct
management of a small team of individual contributors.
Assess current team reporting structure and propose any changes
Continued acquisition, retention, and development of talent on
team
When applicable: execute and communicate talent development
processes, including performance and personal development
goals.
Succession planning and talent assessment recommendations.
Performance management.
Support staff engagement cross Enterprise initiatives.
Mentor less experienced talent across the Enterprise.
Onboard new employees and interns in unit.
Support various training and skill development initiatives across
Segment and the Enterprise.
May provide support for recruiting efforts and candidate talent
assessment efforts.
Perform other duties as assigned.
What Will Our Ideal Candidate Have?
College degree in STEM related field.
Actuarial Credential not required
7+ years of quantitative analysis experience.
Strong understanding of insurance products and industry.
Demonstrated ability in actuarial and quantitative analysis and
statistical concepts.
Skills:
Excellent communication, collaboration and relationship-building
skills.
Ability to present and translate complex information in relevant
business terms.
Strong PC skills (MS Office) and programming skills (eg. SQL,
SAS).
Leadership:
Begins to challenge conventional thinking.
Takes ownership of projects related to strategic initiatives and
makes recommendations to influence business outcomes.
Proficient in Leading Self, exhibiting decisiveness and
self-awareness while also effectively managing ambiguity.
Initial development of Leading Others, including modeling the way
for others and effectively leading team projects.
Initial development of Leading the Business, including actively
engaging in driving business results, broad thinking and promoting
an Enterprise culture.
Business Acumen:
Has an in-depth understanding and knowledge of certain key business
drivers and disciplines such as: underwriting, products,
reinsurance, distribution, sales, operations, risk control, claim,
and financials.
Able to effectively utilize this business knowledge in developing
and implementing analytic solutions.
Has a general perspective of the industry and developing trends,
including: technology, analytic methodology, products, and
performance of competitors.
Is familiar with other key business drivers and disciplines.
Relationship Management:
Proactively build and own professional business relationships
across the Enterprise.
Generate and solicit ideas, and build consensus
Aware of potential conflict and address proactively.
Acknowledge accomplishments of others within your primary working
group.
Set and manage expectations with business partners for large
projects.
Understand diverse perspectives to effectively accomplish business
goals.
Quantitative Analysis:
Able to introduce innovative techniques to existing problems.
Independently perform and implement complex analytics.
Leads and actively engages in technical/peer reviews.
May offer technical consultative feedback.
Can assess various technical solutions to optimize analytical
outcomes.
What is a Must Have?
Bachelor's Degree required.
Minimum of 4 years of experience performing quantitative analysis
required.
What Is in It for You?
Health Insurance: Employees and their eligible family members -
including spouses, domestic partners, and children - are eligible
for coverage from the first day of employment.
Retirement: Travelers matches your 401(k) contributions
dollar-for-dollar up to your first 5% of eligible pay, subject to
an annual maximum. If you have student loan debt, you can enroll in
the Paying it Forward Savings Program. When you make a payment
toward your student loan, Travelers will make an annual
contribution into your 401(k) account. You are also eligible for a
Pension Plan that is 100% funded by Travelers.
Paid Time Off: Start your career at Travelers with a minimum of 20
days Paid Time Off annually, plus nine paid company Holidays......
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Keywords: The Travelers Companies, Inc., Hartford , Director, Actuarial & Analytics, Marine and Boiler, Executive , Hartford, Connecticut
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