Insurer in the Northeast US will consider credentialed Actuaries with solid Professional Liability Directors and Officers Pricing experience. The position will involve monitoring, analyzing and reporting on Professional Liability business statistics quarterly. This will include: mix of business, change in limit and attachment points, trend analysis, Underwriter and Branch analyses, recommended rate action for major subsets of business, performing global aggregation analyses across the Professional Lines division, identifying and recommending target classes of business, analyzing the underwriting claim frequency and severity, coordinating global reviews for Professional Liability coverage(D&O, E&O, EPL, Fiduciary Liability), assisting with the coordination and analysis of Professional Liability's annual reinsurance programs(coordinating actuarial data requests, analysis of structures and alternatives and responding to reinsurance questions. Additionally, the role will involve:
*Pricing support-including: providing regulatory and compliance support, assisting with actuarial portions of rate filings, responding to insurance department queries, providing Program Business Support as needed, initial business analysis and data request, onsite due diligence, evaluation of gross, ceded and net deal structure, determining annual rate level needs, evaluating profit sharing agreements, reviewing MGA price monitoring, creating and maintaining rating plans and rating modules, reviewing and updating burn calculations and other pricing tools, ongoing underwriting research, reviewing ISS database for frequency and severity trends analysis by industry and market capitalization, creating pricing for each Business Unit by industry class and line, continually refining and testing overall pricing assumptions
*Price Benchmarking and Renewal Price Monitoring-including: providing quarterly renewal price monitoring process for Professional Liability, continuing to expand the depth and scope of quarterly price benchmarking and price monitoring efforts and mechanize the process where possible and providing quarterly price benchmarking (new and renewal) for Professional Liability.
The role will also involve:US and Global Finance and assisting the Business Units with their Business Plan assumptions, supporting to facilitate quarterly analysis of reserves, Capital Allocation accumulation and Risk Management, Corporate Underwriting Support(analysis of new business opportunities for Global Professional Lines and Actuarial peer review, Executive Support(coordinating all quarterly statistical reporting related activities for liability lines, handling external Professional Liability requests and other special projects). REQUIRED EDUCATION/TRAINING & EXPERIENCE:
A person in this position should meet the following requirements:
· Bachelors degree in Math or Business
· Associate or Fellow of the Casualty Actuarial Society
· Significant experience in an insurance/reinsurance company
· Able to manage interpersonal relations and communicate effectively
· Ability to work independently and effectively multitask
· Excellent PC skills and knowledge of Microsoft product suite
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