Westfield Insurance
Actuarial Senior Manager Commercial Lines
Westfield Insurance, Westfield Center, Ohio, us, 44251
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Actuarial Senior Manager Commercial Lines
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Actuarial Senior Manager Commercial Lines
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Westfield Insurance The Actuarial Senior Manager develops business strategies for actuarial function, oversees the reporting processes and actuarial analysis, and monitors KPIs. The role also provides expertise on rate and product filing, oversees pricing, reserving, and reporting activities, leads complex problem solving, and champions the adoption of actuarial analytics across business units in the organization. The role also provides people leadership for a team or multiple teams of actuarial employees. Job Responsibilities Develops profitable targets and business strategy, and formulates policies that manage Property Casualty rates, reserves, risk capital, and product research. Maintains, expands, and applies knowledge of the insurance industry, actuarial trends, market conditions, and competitor information and shares that information with Actuarial and other business units. Develops and maintains an enterprise view of profitability, risks, and opportunities across multiple projects and initiatives, while ensuring cross-company compliance. Oversees actuarial model development to support financial projections, pricing, underwriting and the quarterly/monthly financial reporting processes. Reviews premium recommendations and policies to meet the financial objectives of the organization. Oversees financial reconciliations and inputs on reinsurance levels and attribution methodologies. Partners with client teams to address complex actuarial needs including trend and reserve setting, discount positions of various networks, and resolves other financial complications. Oversees the risk assessment process associated with stop loss, and guides development of new metrics and benchmarks in pursuit of leveraging data as a strategic asset. Drives actuarial thought leadership and innovation across the organization, championing the adoption and benefits of actuarial analytics. Delivers insights and creates analytics capabilities that will enable the organization to succeed in value-based arrangements. Leads the annual actuarial corporate planning process, and drives annual budget creation and completion of monthly budget variance reporting and forecasts as needed. Drives talent management, employee selection, succession planning, performance management, compensation management, employee development and coaching in career development, and operational management. Participates in professional industry groups and creates a network of key contacts to stay abreast of industry changes, and customers' and employees' expectations. Job Qualifications 10+ years of Actuarial work experience with 3+ years of people management experience. Bachelor's degree preferred in Actuarial Sciences, Business, Finance or related field and/or commensurate work experience. Master's degree in a related field is preferred. Extensive experience in Commercial Lines Pricing preferred. Technical Skills New Product Development Pricing Strategy Business Process Improvement Project Management Market Research KPI Tracking Corporate Reserving Knowledge of Generally Accepted Accounting Principles Policy Formulation Data Analysis and Reporting Insurance Industry Knowledge Location Hybrid – defined as working three or more days per week in the office if the employee’s residence is within 50 miles of Westfield Center, OH; or Remote – if the employee resides more than 50 miles from Westfield Center, OH. About Us Founded in 1848, Westfield is a global leader in property and casualty insurance, delivering superior risk insights and innovative solutions to customers through a diverse portfolio of insurance products. Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of leading independent agents and brokers in the United States and specialty products through Lloyd’s of London Syndicate 1200. As a mutual insurance company with more than 3,000 employees, Westfield has revenues in excess of $4 billion and more than $10 billion in assets. Learn more at www.westfieldinsurance.com. Equal Opportunity Employer United States: All applicants receive consideration for employment without regard to race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, or status as a protected veteran. United Kingdom: Westfield is committed to equality of opportunity for all staff and applications from individuals are encouraged regardless of age, disability, sex, gender reassignment, sexual orientation, pregnancy and maternity, race, religion or belief and marriage and civil partnerships. This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management. Seniority level
Seniority level Mid-Senior level Employment type
Employment type Full-time Job function
Job function Management Industries Insurance Referrals increase your chances of interviewing at Westfield Insurance by 2x Inferred from the description for this job
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Actuarial Senior Manager Commercial Lines
role at
Westfield Insurance 1 week ago Be among the first 25 applicants Join to apply for the
Actuarial Senior Manager Commercial Lines
role at
Westfield Insurance The Actuarial Senior Manager develops business strategies for actuarial function, oversees the reporting processes and actuarial analysis, and monitors KPIs. The role also provides expertise on rate and product filing, oversees pricing, reserving, and reporting activities, leads complex problem solving, and champions the adoption of actuarial analytics across business units in the organization. The role also provides people leadership for a team or multiple teams of actuarial employees. Job Responsibilities Develops profitable targets and business strategy, and formulates policies that manage Property Casualty rates, reserves, risk capital, and product research. Maintains, expands, and applies knowledge of the insurance industry, actuarial trends, market conditions, and competitor information and shares that information with Actuarial and other business units. Develops and maintains an enterprise view of profitability, risks, and opportunities across multiple projects and initiatives, while ensuring cross-company compliance. Oversees actuarial model development to support financial projections, pricing, underwriting and the quarterly/monthly financial reporting processes. Reviews premium recommendations and policies to meet the financial objectives of the organization. Oversees financial reconciliations and inputs on reinsurance levels and attribution methodologies. Partners with client teams to address complex actuarial needs including trend and reserve setting, discount positions of various networks, and resolves other financial complications. Oversees the risk assessment process associated with stop loss, and guides development of new metrics and benchmarks in pursuit of leveraging data as a strategic asset. Drives actuarial thought leadership and innovation across the organization, championing the adoption and benefits of actuarial analytics. Delivers insights and creates analytics capabilities that will enable the organization to succeed in value-based arrangements. Leads the annual actuarial corporate planning process, and drives annual budget creation and completion of monthly budget variance reporting and forecasts as needed. Drives talent management, employee selection, succession planning, performance management, compensation management, employee development and coaching in career development, and operational management. Participates in professional industry groups and creates a network of key contacts to stay abreast of industry changes, and customers' and employees' expectations. Job Qualifications 10+ years of Actuarial work experience with 3+ years of people management experience. Bachelor's degree preferred in Actuarial Sciences, Business, Finance or related field and/or commensurate work experience. Master's degree in a related field is preferred. Extensive experience in Commercial Lines Pricing preferred. Technical Skills New Product Development Pricing Strategy Business Process Improvement Project Management Market Research KPI Tracking Corporate Reserving Knowledge of Generally Accepted Accounting Principles Policy Formulation Data Analysis and Reporting Insurance Industry Knowledge Location Hybrid – defined as working three or more days per week in the office if the employee’s residence is within 50 miles of Westfield Center, OH; or Remote – if the employee resides more than 50 miles from Westfield Center, OH. About Us Founded in 1848, Westfield is a global leader in property and casualty insurance, delivering superior risk insights and innovative solutions to customers through a diverse portfolio of insurance products. Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of leading independent agents and brokers in the United States and specialty products through Lloyd’s of London Syndicate 1200. As a mutual insurance company with more than 3,000 employees, Westfield has revenues in excess of $4 billion and more than $10 billion in assets. Learn more at www.westfieldinsurance.com. Equal Opportunity Employer United States: All applicants receive consideration for employment without regard to race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, or status as a protected veteran. United Kingdom: Westfield is committed to equality of opportunity for all staff and applications from individuals are encouraged regardless of age, disability, sex, gender reassignment, sexual orientation, pregnancy and maternity, race, religion or belief and marriage and civil partnerships. This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management. Seniority level
Seniority level Mid-Senior level Employment type
Employment type Full-time Job function
Job function Management Industries Insurance Referrals increase your chances of interviewing at Westfield Insurance by 2x Inferred from the description for this job
Medical insurance Vision insurance 401(k) Pension plan Get notified about new Actuarial Manager jobs in
Westfield Center, OH . We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.
#J-18808-Ljbffr