Actuarial Sr Consultant (P&C) - Reserving Actuary at CNA
As a technical expert, the Actuarial Senior Consultant develops and recommends actuarial or reserve strategies of a complex nature for specialty lines of business (cyber liability, tech errors and omissions, media and miscellaneous errors and omissions, directors and officers liability) and a commercial line of business (umbrella) in P&C to be used by senior management for making business decisions and formulating business strategy. This role oversees and advances reserving techniques for specialty lines. May participate in the development and implementation of corporate-wide initiatives, and may lead special projects.
This role could be filled at the Consultant level depending on the skills/experience of the selected candidate.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
- Performs complex actuarial calculations and actuarial studies.
- Determines reserving recommendation for an assigned area and analyzes existing tools, modifying or creating new tools, as needed.
- Monitors the profitability and trends for a product line or segment.
- Ensures accuracy of all financial reports and statements, which may include participation in the financial close process.
- Produces highly technical reports and communicates with other analytical staff and management including presentations to senior management.
- Manages project teams and may be responsible for special projects and presentations.
- Facilitates communication and partners with other functional groups (e.g., Claims, Finance) on actuarial issues.
- Provides guidance to less experienced team members and may lead and/or participate in special projects.
- Stays up to date in functional area of expertise, on industry trends and developments, and assures knowledge transfer within the organization.
May perform additional duties as assigned.
1. May participate in industry trade groups and may represent company at industry meetings.
2. May act as expert witness and may represent the company with government agencies
Director or above
Skills, Knowledge & Abilities
1. Strong knowledge of core functions of an insurance company, general insurance, actuarial and statistical concepts.
2. Advanced actuarial technical expertise and product specific knowledge.
3. Strong interpersonal, communication and presentation skills. Ability to effectively interact with all levels of CNA's internal and external business partners.
4. Strong analytical, critical thinking and problem-solving skills, with the ability to effectively resolve complex situations and issues
5. Solid project management, organization, and planning skills with the ability to manage multiple projects effectively and lead teams.
6. Ability to exercise independent judgment and make critical business decisions effectively within scope of authority based on data analyses and reviews.
7. Ability to solve issues with a sense of urgency; utilizes and manages the available resources to make informed decisions and achieve superior results.
8. Ability to creatively and effectively manage through ambiguous and challenging problems, leads through change and takes appropriate levels of risk.
9. Ability to comprehend business data and metrics and to further articulate analyses of actuarial data within internal reports.
10. Solid knowledge of Microsoft Office Suite and familiarity with R, SQL and other business-related software systems, including processing systems and applications.
Education & Experience
1. Bachelor's Degree in a relevant discipline, or equivalent.
2. Typically a minimum of seven years of related work experience.
3. Typically has their Associate accreditation (ACAS), and may be working towards Fellowship; may include those that have attained their FCAS.