Director, Actuary (Hybrid)

Arch Insurance Group Inc.; Minneapolis (MN); On-site; USD 130,000 - 180,000; Full time

Benefits offered by this job

Comprehensive benefits package

PTO beginning at 20 days per year

Up to 12 paid company holidays per year

Paid Parental Leave up to 10 weeks

Job summary

Arch Insurance Group Inc. is looking for a qualified Director Actuary to provide actuarial support for the P&C Programs Insurance Business Unit. This position involves leading a team, conducting actuarial studies, and partnering with business units to improve profitability. The ideal candidate will possess strong programming skills and previous actuarial experience.

The role offers a competitive salary range from $130,000 to $180,000 per year, along with comprehensive benefits including various medical plans, PTO, and a competitive 401k.

Qualifications

• Must hold P&C actuarial qualifications like ACAS or FCAS.
• Minimum of 6 years of experience in actuarial analysis.
• Strong programming skills for building tools and performing research.

Responsibilities

• Provide actuarial support to P&C Programs Insurance Business Unit.
• Monitor and report on portfolio profitability and pricing adequacy.
• Conduct actuarial studies to improve pricing methodologies.
• Make actuarial premium recommendations for large accounts.
• Design and maintain critical pricing tools.

Skills

P&C Actuarial qualifications (ACAS, FCAS)

6+ years of relevant experience

Strong programming skills (Python, SQL, VBA)

Excellent communication and relationship-building skills

Job description

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility®.

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

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

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. Learn more on available benefits.

14400 Arch Insurance Group Inc.