AVP & Actuary, Pricing (P&C)

AVP & Actuary, Pricing (P&C)

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Location: Chicago, IL, USA

Time Type: Full time

Posted on: Posted 2 Days Ago

Job Requisition ID: R-4569

You have a clear vision of where your career can go. And we have the leadership to help you get there. At CNA, we strive to create a culture in which people know they matter and are part of something important, ensuring the abilities of all employees are used to their fullest potential.

CNA seeks to offer a comprehensive and competitive benefits package to our employees that helps them — and their family members — achieve their physical, financial, emotional and social wellbeing goals.

JOB DESCRIPTION:

Essential Duties & Responsibilities

Performs a combination of duties in accordance with departmental guidelines:

1. Implements strategic objectives with substantial impact on the short-term success for actuarial pricing for large account casualty business.
2. Establishes and manages pricing initiatives that have significant impact on the short-term success of large account casualty business, including developing indicated pricing levels for individual loss sensitive and ground up accounts.
3. Monitors profitability of large account casualty business to ensure present and future pricing strategies achieve short-term growth and profitability objectives. Partners with Actuarial – Reserving, Claim, Underwriting, Finance and other internal departments to exchange data and analyses of financial indicators.
4. Presents large account casualty business analyses to senior management and makes recommendations on pricing and pricing-related issues.
5. Oversees preparation and accuracy of reports used for internal actuarial analysis.
6. Fosters innovation and empowers others to review existing methodologies and procedures and continuously improve skill, efficiency, and quality of work.
7. Remains current on state/territory issues and regulations, industry activity and trends. May represent the company in industry trade groups.
8. Leads, directs, and has full management accountability for staff in area of responsibility with an emphasis on talent management and succession planning in accordance with corporate strategic direction.
9. May act as expert witness and may represent the company with government agencies.
10. Leads the development and implementation of effective pricing/rating structures.
11. Ensures data, methodology, and processes used in analysis and pricing meet actuarial standards of practice and that the output consistently meets expected quality standards.
12. Participates and engages in initiatives and activities affecting the broader pricing team and actuarial communities such as recruiting, development, training, and other enterprise activities.

May perform additional duties as assigned.

Reporting Relationship

Typically, VP and above

Skills, Knowledge & Abilities

1. In-depth knowledge of actuarial pricing theories and practices, strong statistical modeling skills and working knowledge of a variety of product lines within insurance as it relates to pricing.
2. Ability to effectively collaborate with all levels of external and/or internal business partners within scope of responsibility, team and/or matrix environment.
3. Leadership and management skills demonstrating integrity and professionalism.
4. Excellent communication skills including the ability to translate complex actuarial concepts and analysis into actionable insights and understandable pricing guidance.
5. Demonstrated excellence in influencing others.
6. Strong project management skills with the proven ability to work on multiple priorities and to establish and consistently meet deadlines.
7. Ability to drive results by identifying and resolving problems within scope of responsibility.
8. Knowledge of the insurance industry, its products, and services.
9. Knowledge of Microsoft Office Suite and other business-related software.

Education & Experience

1. Bachelor’s Degree in Math, Actuarial Science or related field required. Master’s Degree in related field preferred.
2. Typically requires Associate (ACAS) designation, Fellowship (FCAS) preferred. Prior experience with large account pricing preferred.
3. Typically, a minimum of 10 years of related work experience, with five years of management experience.

CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process.

About Us

At CNA, we are focused on success, individually and collectively. We pride ourselves on promoting a culture that challenges and engages people. We strive to connect people, departments and business areas, to function as a team, and to serve our customers and communities with professionalism and respect.

Our dedication to employee engagement, continuous learning and the open exchange of ideas is the cornerstone of our business. These ideals, combined with our focus on the customer, enable us to explore new market opportunities and build on our success.

Our values, culture and financial strength are what differentiates us from other employers and make CNA the place you want to work.

Diversity, Equity & Inclusion

CNA is committed to fostering a diverse and inclusive culture grounded in equity that supports our organization, clients, and communities by prioritizing talent and programs that represent our current environment and empower all employees and partners to be active allies and advocates for equality.

Corporate Social Responsibility

At CNA, we have a long standing commitment to the diverse communities in which we live and work. We actively make a difference for the greater good through partnerships, sustainability, initiatives, and working together for a better tomorrow.