Director, Actuary (Hybrid)

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

Benefits offered by this job

Health insurance

401k with generous matching

Paid time off 20 days/year

Job summary

Arch Insurance Group Inc. is seeking an experienced Director Actuary to lead a team of actuaries providing insights and strategic guidance for P&C Programs Insurance. You will drive pricing, profitability analyses, and tool development to support underwriting decisions.

The role requires ACAS/FCAS or equivalent, 6+ years of actuarial experience, and strong leadership and communication skills. Work location is Illinois with incentive-eligible compensation.

Qualifications

• ACAS/FCAS or equivalent actuarial qualification.
• 6+ years of actuarial and quantitative analysis experience.
• Strong business acumen across underwriting, products, reinsurance, claims and finance.
• Proven leadership and ability to influence business outcomes.

Responsibilities

• Lead profitability reviews and analyses to assess portfolio profitability.
• Monitor pricing adequacy, rate change, and underwriting mix for decisions.
• Perform actuarial studies to improve pricing parameters and segmentations.
• Provide pricing recommendations on large new/renewal accounts.
• Design, program, and maintain pricing and book-monitoring tools.
• Partner with analytics to deploy advanced predictive modeling.

Skills

Leadership

Business Acumen

Communication

Partnership

Education

ACAS/FCAS or similar

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.
• Large Account Pricing: Provide actuarial premium recommendation on large new and renewal accounts.
• 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

Compensation and Benefits

For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.

$130,000 - $180,000/year

• Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.
• Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus 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; and more.

14400 Arch Insurance Group Inc.