Actuarial Director, Pricing (Hybrid)

Arch Insurance Group Inc.; Illinois; On-site; USD 130,000 - 180,000; Full time

Benefits offered by this job

Health benefits

401k matching

Paid time off

Paid holidays

Job summary

Arch Insurance Group Inc. provides actuarial support to the P&C Programs Insurance Business Unit. The Director Actuary leads a team to partner with the business, delivering insights and actionable strategies, and monitoring leading indicators for business health.

The role involves supervising professionals in profitability reviews, pricing, and analytics, with a focus on driving profitability and informed decision-making across products and segments.

Qualifications

• ACAS/FCAS designation or equivalent.
• 6+ years of actuarial and quantitative analysis experience.
• Strong business acumen across underwriting, products, reinsurance, claims and financials.
• Strong programming skills (Python, SQL, VBA).
• Leadership and ability to influence business outcomes.
• Excellent communication and partnership skills.

Responsibilities

• Profitability reviews and analyses to assess portfolio profitability.
• Monitor rate changes, pricing adequacy and underwriting mix for decisions.
• Actuarial studies to improve pricing parameters and segmentation.
• Design, program and maintain pricing and book monitoring tools.
• Collaborate with Strategic Analytics to deploy advanced analytics and automation.

Skills

ACAS/FCAS

Leadership

Communication

6+ years experience

Tools

Python

SQL

VBA

Job description

Position Summary

You will provide actuarial support to the P&C Programs Insurance Business Unit. This division highly values actuarial support, in both quantitative & qualitative capacities. The Director Actuary will lead a team of actuaries to partner with business to deliver actuarial insights, develop actionable strategies, monitor executions and leading indicators to assess business health.

Responsibilities and Accountabilities

• Profitability Reviews/New Submission Analyses: Review products by applying actuarial concepts and techniques to determine portfolio profitability; analyzing and digging into detailed segmentations
• Monitor and Reporting: Monitor portfolio rate change, pricing adequacy and underwriting mix change on new and renewal business to guide Program Managers and make informed decisions
• Actuarial Studies: Analyses and research to improve pricing parameters, methodologies and segmentations to better identify profitable opportunities.
• Tool Building: Our team thrives on innovation. You will design, program, and maintain critical tools used in pricing, and book monitoring
• Partnering with Strategic Analytics: Our actuaries and predictive modeling teams work closely together to deploy advanced analytics and automation tools to help our businesses underwrite more profitably.

Required Skills and Abilities

• P&C Actuarial qualifications: ACAS, FCAS, or similarly qualified professional
• 6+ years of relevant experience, demonstrated ability in actuarial and quantitative analysis and statistical concepts
• Business Acumen: In-depth understanding and knowledge of key business drivers and disciplines in underwriting, products, reinsurance, claims, and financials.
• Software skills: Strong programming skills, such as Python, SQL, VBA for building tools and advanced research
• Leadership: Thought leader and innovator, strength and experience as a teacher, manager, peer, leader and contributor to a positive culture. Takes ownership of strategic initiatives and ability to influence business outcomes
• Communication and Partnership: Excellent communication, collaboration, and relationship-building skills

Why work at Arch

• Opportunity: No experience minimums or waiting your turn. Arch has a lot of opportunity because of our growth and entrepreneurialism, and many Arch actuaries have been promoted within current roles in recognition of outstanding performance.
• Exam program: Up to $75k of raises available, and flexibility and support so you can study and pass.
• Flat structure: You will present to business unit leaders and senior actuarial executives, and your insights will make a difference.

Compensation

Base salary range $130,000 - $180,000/year. Position is incentive eligible. Total individual compensation (base salary, short & long-term incentives) offered will take into account factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs.

Benefits

• Medical, dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care
• Additional benefits: comprehensive benefits package; more available.