Actuarial Manager

Company: Automobile Club of Southern California
Location: Costa Mesa
Posted on: March 19, 2023

Job Description:

Actuarial Manager

• $5,000 Sign On Bonus Upon Hire
• Relocation Assistance AvailableDirects development of pricing strategies based on analysis of the financial data and trends in the loss results considering the factors driving the change in the loss results. Directs development of recommendations for rating plans and scorecards used to classify business. Direct development of rate filings with the departments of insurance and address regulatory issues that may arise regarding the rate plans. Oversee the implementation of rate and rating plan changes including development of the rating engines for the processing systems and testing the rating functions of those systems. Direct development of competitive analysis to support rate plan development. Coordinates activities with other departments that share responsibility for competitive review. Oversee the reviews of reserve levels and peer review the recommendations for reserves submitted by the Actuarial staff. Direct development of forecasts of future loss results to support budget process and other financial analysis.Responsibilities:
  • Direct and assist staff in performing assigned duties. Coach and lead staff in the development of knowledge and skills relating to the business and actuarial science. Will be involved in the hiring and training of staff members.
  • Team with Product Management, Underwriting, Claims, Sales, Regulatory Affairs, Office of the General Counsel to develop strategies to achieve the corporate goals, assess the financial and marketing impact of those strategies and follow up to assure effective execution.
  • Direct the development of recommendations for rating plans, tier structures and scoring systems based on the analysis of the financial results, competitor practices and regulatory requirements.
  • Direct the development of the loss reserve analyses and recommend amounts to maintain accurate and adequate levels.
  • Direct the review of competitors' rating plans and rate levels to identify areas where they have competitive advantage and weakness. Provide recommendations for changes to our rating plans based on the analysis.
  • Direct the development of required regulatory filings. Team with Regulatory Affairs to obtain prompt approval of all rate filings.
  • Direct the development of loss ratio forecasts to support the budget process. Provide other analysis regarding impact of legislation changes, court decisions or regulatory changes. Direct the quantification of the impact and make recommendations to address the changes being made.
  • Direct the implementation of rate changes including development of requirements for Information Systems, construction and testing of the rating engines for the processing systems and development of training and communication material.
  • Direct the development of data needed to support the pricing, reserving and data reporting functions. Develop specifications for the data warehouse and extracts needed.
  • Perform other duties and responsibilities as assigned or required.Qualifications:
    • Bachelor's degree, preferably in finance or mathematics, or equivalent combination of experience and education required.
    • Typically have at least 10 years' experience in the actuarial field with 5 years in a management level role.
    • Advanced skills using computer applications including Excel and SQL. Experience with R, Python, and SAS is preferred.
    • Advanced analytical skills required.
    • Advanced written and verbal communications skills, along with demonstrated people management skills, organizational skills and time management skills preferred.
    • Demonstrated leadership capabilities, including the ability to develop and motivate employees highly preferred.
    • Must be a Fellow of the Casualty Actuarial Society.#LI-DF1The starting pay range for this position is $197,000 - $262,600 annually. Additionally, you will be eligible to participate in our incentive program based upon the achievement of organization, team and personal performance.Remarkable benefits:
      
      • Health coverage for medical, dental, vision
      • 401(K) saving plan with company match AND Pension
      • Tuition assistance
      • PTO for community volunteer programs
      • Wellness program
      • Employee discountsThe Automobile Club of Southern California is part of the largest federation of AAA clubs in the nation. We have 14,000 employees in 21 states helping 17 million members. The strength of our organization is our employees. Bringing together and supporting different cultures, backgrounds, personalities, and strengths creates a team capable of delivering legendary, lifetime service to our members. When we embrace our diversity - we win. All of Us! With our national brand recognition, long-standing reputation since 1902, and constantly growing membership, we are seeking career-minded, service-driven professionals to join our team."Through dedicated employees we proudly deliver legendary service and beneficial products that provide members peace of mind and value."AAA is an Equal Opportunity EmployerThe Automobile Club of Southern California will consider for employment all qualified applicants, including those with criminal histories, in a manner consistent with the requirements of applicable federal, state and local laws, including the City of Los Angeles' Fair Chance Initiative for Hiring Ordinance.

Keywords: Automobile Club of Southern California, Costa Mesa , Actuarial Manager, Executive , Costa Mesa, California