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Actuarial Sr Consultant (P&C) - Compliance & Product Management at CNA (Chicago, IL)
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Job Summary
Actuarial position on a team responsible for filing and implementation of strategic rate and pricing objectives for all Commercial lines of business. Working collaboratively with Underwriting and Actuarial leaders, implements strategies and processes that ensure efficient, compliant, and error-free implementation. Maintains close working relationships with Legal and Compliance leadership to ensure implementation is conducted in compliance with regulatory requirements.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
May perform additional duties as assigned.
Reporting Relationship
Director or above
Skills, Knowledge & Abilities
1. Strong knowledge of core functions of an insurance company, general insurance, actuarial and statistical concepts.
2. Advanced technical expertise and product specific knowledge. Candidate should have experience in the capacity to use Excel at a proficient level. Experience in a programming language such as SQL, R, or VBA is preferred.
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 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. Associate or Fellow of the Casualty Actuarial Society.
#LI-AN1
Actuarial position on a team responsible for filing and implementation of strategic rate and pricing objectives for all Commercial lines of business. Working collaboratively with Underwriting and Actuarial leaders, implements strategies and processes that ensure efficient, compliant, and error-free implementation. Maintains close working relationships with Legal and Compliance leadership to ensure implementation is conducted in compliance with regulatory requirements.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
- Performs complex actuarial calculations and actuarial studies, and develops rates for existing and/or new business.
- Determines and influences pricing strategy for Businessowners, Commercial Auto, Workers Compensation, and other products.
- Analyzes existing pricing tools and actuarial methodologies, modifying or creating new pricing tools, as needed.
- Reviews and submits rate filings, performs actuarial certifications, and contacts regulatory agencies and rating bureaus as necessary.
- 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 provides technical guidance to Underwriting regarding the pricing of new and/or existing business and partners with other functional groups (e.g., Compliance, Legal) 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.
Reporting Relationship
Director or above
Skills, Knowledge & Abilities
1. Strong knowledge of core functions of an insurance company, general insurance, actuarial and statistical concepts.
2. Advanced technical expertise and product specific knowledge. Candidate should have experience in the capacity to use Excel at a proficient level. Experience in a programming language such as SQL, R, or VBA is preferred.
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 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. Associate or Fellow of the Casualty Actuarial Society.
#LI-AN1
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