Sr. Director, Actuarial & Analytics, BI Actuarial Product CMP at Travelers (Hartford, CT)

| Hartford, CT
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Company Summary

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.

Job Category

Actuarial, Analytics & Research

Target Openings

1

Job Description Summary

The Sr. Director, Actuarial and Analytics is an analytic leadership role that is responsible for assigned unit typically involved in 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 and influence leaders up to the VP level with business partners in assigned area, and share ownership of business financial results. The Sr. Director, Actuarial and Analytics will work within broad limits and authority on complex initiatives requiring specialized knowledge and expertise in breadth and/or depth in several of the following areas: Actuarial and/or research methods, Advanced statistical analyses, Broad business knowledge, In-depth Line of Business knowledge, Broad awareness of enterprise Actuarial & Analytics community.

This role will lead a team of four.

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 Business Insurance Actuarial Product - CMP team needs a motivated person with very strong analytical and thought leadership skills to lead the rate adequacy and rate plan management team, combining analytic curiosity, holistic thinking across processes, and a drive to make things better through tangible deliveries. The role is responsible for advancing the science and interpretability of multiple rate adequacy processes, and bringing them together to meet a complex business need across multiple CMP products including the new Business Insurance Commercial Multi-Peril product, Travelers BOP 2.0.

This role may work 100% remotely or in one of our offices.

#LI-Remote
#LI-HybridPrimary Job Duties & Responsibilities

Specific Responsibilities include:
  • Managing the rate plan of the flagship BOP 2.0 product, including base rate development and updates
  • Managing CMP view of cost including Rate Adequacy for all CMP Products and BOP 2.0 target premium
  • Managing the disruption analysis and work with Product Management teams on unique state strategies
  • Partner with data architects, rating teams, Circle leads, IT, Regulatory, and others on implementing/maintaining new rates and/or coverages
  • Lead strategic vision for product enhancements and maintenance


Strategy:
  • Assess, prioritize, influence and communicate strategic initiative options to senior leaders.
  • Demonstrate effective execution and completion of assigned strategic initiatives and projects.
  • Generate and advocate for process improvements and actively propel innovation in alignment with existing strategy.
  • This position will lead assigned unit strategic initiatives and cross-unit initiatives 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. Begin to drive broad department initiatives.
  • Promote efficiency across primary working group, balancing additional effort against incremental lift gained from work.
  • Make decisions independently in accordance with department practices.
  • Consistently provide direction and review others' analytical work.
  • Begin to translate ambiguous business needs into analytical solutions.
  • Provide support as necessary for initiatives across the Enterprise within the scope of influence.


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.
  • Leads group discussions with primary working group.
  • Creates formal written communication such as memos or presentations.
  • Able to influence and collaborate with peers and partners to take actions to enhance business outcomes.


Talent:
  • Staff responsibilities are likely to include direct management of a small team of individual contributors.
  • Acquisition, retention, and development of talent for assigned unit.
  • 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.
Minimum Qualifications
  • Bachelors Degree or equivalent experience required.
  • 5 years of comprehensive quantitative analysis experience required.


Education, Work Experience, & Knowledge
  • College degree in STEM related field.
  • Associate Actuarial Credential preferred.
  • 8+ years of quantitative analysis experience.
  • Strong understanding of insurance products and industry.
  • Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
  • Leadership experience.
  • Excellent communication, collaboration and relationship-building skills.
  • Excellent communication skills with the ability to present and translate complex information to leadership and non-technical teams.
  • Strong PC skills (MS Office) and programming skills (eg. SQL, SAS).


Job Specific Technical Skills & Competencies

Leadership:
  • Begins to challenge conventional thinking.
  • Takes ownership of projects related to strategic initiatives and often makes independent recommendations to influence business outcomes.
  • Proficient in Leading Self including exhibiting decisiveness and self-awareness while also effectively managing ambiguity.
  • Development of Leading Others including modeling the way for others and leading cross-unit 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 perspective on the industry and developing trends, including: technology, analytic methodology, products, and performance of competitors.
  • Is familiar with most other key business drivers and disciplines.


Relationship Management:
  • Proactively build and own professional business relationships across the Enterprise.
  • Generate and solicit ideas, and drive consensus
  • Aware of potential conflict and address proactively.
  • Acknowledge accomplishments of others to broader organization.
  • Set and manage expectations with business partners for portfolio of projects.
  • Understand diverse perspectives to effectively accomplish business goals.


Quantitative Analysis:
  • Able to introduce innovative techniques to both new and existing problems.
  • Independently perform and implement complex analytics.
  • Leads and actively engages in technical/peer reviews.
  • Regularly offers technical consultative feedback.
  • Can assess various technical solutions to optimize analytical outcomes.
  • Occasionally recognizes emerging issues that require a quantitative solution within own portfolio of work.


Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.
More Information on Travelers
Travelers operates in the Insurance industry. The company is located in New York, NY and Hartford, CT. Travelers was founded in 2022. It has 35118 total employees. It offers perks and benefits such as Flexible Spending Account (FSA), Disability Insurance, Dental Benefits, Vision Benefits, Health Insurance Benefits and Life Insurance. To see all 209 open jobs at Travelers, click here.
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