BCS Financial Corporation
Head of Actuarial & Underwriting, SHS
BCS Financial Corporation, Oakbrook Terrace, Illinois, United States
The Head of Actuarial & Underwriting, Supplemental Health Solutions (SHS) position will support the business strategy to drive profitable growth for BCS’ SHS business segment.
This role will lead the development and implementation of sound actuarial and underwriting strategies in support of business development and product compliance for SHS. Product responsibilities include international healthcare (BCBS Global Solutions), group voluntary (accident indemnity, hospital indemnity, critical illness), fixed indemnity, life, and disability.
This position will report to the Chief Actuary.
BCBS Global Actuarial Leader/Program Management
- Provide strategic oversight and partnership to the BCBS Global Team in support of program growth. Resource Management
- Review operational opportunities to structure the team processes, workflows and staffing model to plan for SHS growth objectives. Product Development
- Partner with the BCBS Global and the BCS Product Development teams to ensure sound risk management and rating of products at the outset. Rating Methodology
- Establish and document new business and renewal rating bases that will ensure profitable underwriting results. Underwriting Oversight
- Provide oversight for the underwriting of BCS’ Supplemental Health Solutions (SHS). Business Development
- Partner with sales, marketing, BCBS Global executive leadership team and other strategic partners in support of new business opportunities. Market Analysis
- Assess competitiveness of existing rating structures, product and underwriting criteria. Rate Filings
- Manage the regulatory compliance and the timely approval of state rate filings and actuarial memoranda/certifications. Reserving
- Ensure reserving methodologies and models for various lines of business are in place that comply with relevant actuarial standards and regulatory requirements. Forecasting and Business Planning
- Support financial forecasts, budgeting, capital management and business plan projections. Talent Development
- Provide mentorship and educational opportunities for BCS actuarial/underwriting and BCBS Global staff. Requirements Bachelor’s Degree in Mathematics or Business required Associate or Fellow of the Society of Actuaries designation required Member of American Academy of Actuaries required Continuing education relating to the maintenance of professional credentials (compliant status) preferred Desired Experience 10+ years of insurance business experience International healthcare and travel products Fixed indemnity, hospital Indemnity, accident indemnity, and critical illness products Life/disability insurance experience Travel Required Travel to industry conferences, Oakbrook home office, BCBS Global headquarters, and various client visits (10-20% of time).
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- Provide strategic oversight and partnership to the BCBS Global Team in support of program growth. Resource Management
- Review operational opportunities to structure the team processes, workflows and staffing model to plan for SHS growth objectives. Product Development
- Partner with the BCBS Global and the BCS Product Development teams to ensure sound risk management and rating of products at the outset. Rating Methodology
- Establish and document new business and renewal rating bases that will ensure profitable underwriting results. Underwriting Oversight
- Provide oversight for the underwriting of BCS’ Supplemental Health Solutions (SHS). Business Development
- Partner with sales, marketing, BCBS Global executive leadership team and other strategic partners in support of new business opportunities. Market Analysis
- Assess competitiveness of existing rating structures, product and underwriting criteria. Rate Filings
- Manage the regulatory compliance and the timely approval of state rate filings and actuarial memoranda/certifications. Reserving
- Ensure reserving methodologies and models for various lines of business are in place that comply with relevant actuarial standards and regulatory requirements. Forecasting and Business Planning
- Support financial forecasts, budgeting, capital management and business plan projections. Talent Development
- Provide mentorship and educational opportunities for BCS actuarial/underwriting and BCBS Global staff. Requirements Bachelor’s Degree in Mathematics or Business required Associate or Fellow of the Society of Actuaries designation required Member of American Academy of Actuaries required Continuing education relating to the maintenance of professional credentials (compliant status) preferred Desired Experience 10+ years of insurance business experience International healthcare and travel products Fixed indemnity, hospital Indemnity, accident indemnity, and critical illness products Life/disability insurance experience Travel Required Travel to industry conferences, Oakbrook home office, BCBS Global headquarters, and various client visits (10-20% of time).
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