VP - Head of Reserving - Core Specialty Insurance Services, Inc.
Chicago, IL 60606
About the Job
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The Core Specialty Actuarial team is looking for an individual to head up the Reserving function. This leadership role, reporting to the Chief Actuary, will primarily be responsible for directing this team during an exciting time of growth. The role will primarily focus on evaluating reserve adequacy for the existing portfolio, developing and maintaining appropriate diagnostic tools, and providing actuarial subject matter expertise as need to senior leadership and other key stakeholders.
Key Accountabilities:
Maintain and perpetuate an organization culture that abides by the company’s core values and that attracts and retains high-level talent.
Perform Quarterly Reserve Reviews (and ad-hoc analysis as needed) for all product groups to ensure that adequate reserves are recorded and correctly reported at each quarter-end.
Ensure all regulatory requirements related to loss reserves are completed efficiently, accurately, and within required timeframes.
Development and delivery of analysis findings to senior leadership and business partners such that key drivers of results are understood, and appropriate business decision are made based on those findings.
Ensure that the company’s reserving SOX controls are appropriately applied and documented in a timely matter to ensure quality and accuracy in reserving analyses.
Collaborate with Pricing, Claim, and Underwriting on periodic deep dive reviews on select reserve segments.
Develop, monitor, and report out on monthly metrics to identify any trends in claim emergence. Wherever possible, utilize data visualization techniques to help communicate trends and insights more effectively.
Integration of new product lines into reserving process as they are onboarded into the organization.
Annually, lead the peer review of key assumptions as well as the loss ratio analysis developed by Pricing for the upcoming Plan.
As needed, peer review key assumptions as well as the loss ratio analysis developed by Pricing for in support of new opportunities.
Technical Knowledge
Elite actuarial analytical skills necessary to appropriately analyze and evaluate a wide variety of differing lines of business
Demonstrable high level aptitude in areas such as business and technical communication, data analysis, leveraging technology, and strategic thinking.
Effective leadership of departments, and ownership of organizational segments/processes.
Anticipates organizational needs and drives execution to realize results.
Prioritizes appropriately, for self and team, and influences others to deliver.
Helps identify root organizational weaknesses, proactively reaches out to prevent future mistakes.
Proactively expands network of trusted advisors.
Solicits and reacts positively to feedback, appropriately provides feedback to peers.
Shares knowledge with broader organization, sets team and helps guide organizational strategy.
Develops and elevates team’s analytical and professional skills.
Experience:
A bachelor’s or master’s degree in mathematics, statistics, economics, or a related field with a strong mathematical background
12 years of relevant experience; proven leadership experience in Pricing and/or Reserving for Property & Casualty business
At least 5 years as an FCAS
Strong communication skills and proven ability to influence those across an organization.
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At Core Specialty, you will receive a competitive salary and opportunities for professional development and advancement. We offer medical, dental, vision, and life insurances; short and long-term disability; a Company-match of 100% of a 6% contribution 401(k) plan; an Employee Assistance Plan; Health Savings Account, Flexible Spending Account, Health Reimbursement Account, and a wellness program
