Chief Actuary - Berkley
Englewood, CO 80112
About the Job
Berkley Oil & Gas, (a W.R. Berkley Company) is an insurance underwriting manager providing unique property and casualty products and risk services to customers engaged in the energy sector. Our customers recognize the importance of the expertise we provide and appreciate the opportunity to work with professionals who understand their business. We are in turn committed to delivering innovative products and exceptional service to them, our valued agents and brokers, Berkley Oil & Gas is dedicated in its efforts to be well-informed of the changing dynamics of the industry; support industry efforts to minimize and mitigate risks and hazards in the ‘oil patch’, and to constantly seek ways to improve our products and services to meet customer needs.
Berkley Renewable Energy, a W. R. Berkley Company, is an innovative market leader dedicated to providing unique products and services tailored to the needs of businesses operating in the renewable energy industry. We have a deep understanding of our clients’ operations and the exposures they face, and we make it a priority to stay well informed of the changing dynamics in the industry. With well over 250 years of combined energy experience, our objective is to provide total account solutions to our customers. This includes specialized coverages, risk services that complement existing safety practices, and claims management that reflects our in-depth knowledge of hazards and losses normal to this industry.
Company URL: https://berkleyoil-gas.com/
The company is an equal opportunity employer.
Responsibilities:The Chief Actuary has overall executive management responsibility for the actuarial function at Berkley Oil & Gas. The Chief Actuary is responsible for the formulation and execution of comprehensive actuarial strategies. This includes oversight for analysis and support for pricing, loss reserving, and planning for various business operations.
- Participate in Leadership Team planning sessions for both current year and prospective financial and strategic goals; assist in making critical decisions affecting risk, profitability, and growth of the business unit
- Develop final prospective annual actuarial corporate strategic plan and operating plan for the business unit
- Collaborate with others in senior management to assure that products, rates, and projected losses are appropriate to achieve planned financial objectives.
- Maintain clear and consistent communication and collaboration with claims and underwriting departments to discuss and proactively handle changes in trends, market changes, benefit reforms, and other law changes.
- Develop and manage relationships with key customers and vendors, including account contacts, program management staff, and other Berkley companies in line with company policies and guidelines.
- Provide high-level leadership, expertise, and guidance in actuarial and insurance matters; oversee all department actuarial functions, including budget preparation to support the execution of business unit strategies.
- Appropriate collaborate with, inform, and communicate to the WRBC actuarial leadership
- Develop, execute, and monitor actuarial action plans to achieve targeted growth, retention, and profitability goals of both the clients and respective BOG divisions.
- Lead the assessment and implementation of ongoing process improvements in the actuarial department as technologies and business models evolve to meet the needs of BOG, customers, regulatory requirement, and audit controls.
- Establish the organizational structure, environment, and accountability of the actuarial operations to deliver the appropriate business value, thought leadership, and technical expertise to the business.
- Review and determine the needs of the business, then determine priority of execution and completion of those business needs through review and collaboration with other departments
- Measure, monitor, and communicate progress of projects at clearly defined points in the process to ensure projects are delivered on time and meet or exceed expectations
- Manage Actuarial Department staffing levels, analyze talent and ensure the department possess the capabilities necessary to meet the needs of the organization and clients, development of employee knowledge, skills and abilities, and communicate standards of performance.
- Identify employees for promotional opportunities and create development plans to prepare them for their next step within the organization.
- Ensure high level of teamwork, mutual respect, and customer service mindset exists within the actuarial team.
- Keep the department well informed of business matters consistent with BOG culture.
- Resolve performance issues consistent with company policy and ensure compliance with company policies by all staff members.
- Perform appropriate analysis and act when deviations are observed from expectations. Provide actuarial support for maintaining and updating the pricing assumptions in the pricing models.
- Understand how to successfully influence and manage several resources and initiatives from initiation through delivery. Able to collaborate with senior leaders, peers and subordinates, corporate constituents and outside vendors to deliver portfolio profit and growth.
- Exceptional communication skills. Your communication style is flexible to the situation. From communicating updates to the team, to discussing metrics with key stakeholders, or presenting to leadership, you communicate clearly and with a purpose. You are adept at synthesizing large amounts of information and providing concise messaging.
- You are able to identify and resolve challenges and hurdles and to prioritize deliverables to ensure critical milestones are met.
- You have exceptional organizational skills, integrity, and great follow-through on tasks. You are comfortable challenging norms while working collaboratively with colleagues at all levels of the organization.
- Extensive experience developing and analyzing business unit profitability reporting, developing business plans and creating financial cases for investment
- Ability to translate data into useful information and to communicate key findings and assumptions in a concise fashion to senior management for rate and reserving recommendation and decision-making purposes
- Ten or more years of progressive P&C actuarial experience.
- At least five years of leadership experience managing people and work product for an actuarial team
- Experience with catastrophe models and leveraging output to develop and manage underwriting strategy
- Deep understanding of reinsurances and actuarial reserving process
- Must be able to present complex issues in a manner that is easily understood by non-technical audiences
- Strong leadership experience including building and motivating teams
Education Requirement
- BA. or B.S. degree in actuarial science, mathematics, statistics, or related field required.
- FCAS designation required
