Actuary Lead Actuary Lead

Volkswagen AG

10d•Hybrid

About The Position

Volkswagen Financial Services, a wholly-owned subsidiary of Volkswagen Group, is the trusted key to mobility for its brand partners. We are committed to supporting the Audi, Ducati, and Volkswagen brands and their Dealers, specializing in providing accessible mobility solutions for its Customers. The company’s offerings include Retail Leasing, Retail Financing, Commercial Financing for new and used vehicles, and End-of-Term vehicle disposition. This position is Career Level 29P, located in Reston, VA, with a Role Classification of Hybrid. The Underwriting & Actuarial Manager plays a pivotal role in shaping the insurance portfolio through expert risk assessment, pricing strategy, and financial modeling. This position blends deep actuarial knowledge with hands-on underwriting leadership to ensure sound decision-making and profitability across insurance products. This role requires a strategic thinker with strong analytical skills, deep insurance knowledge, and the ability to lead cross-functional teams in a dynamic environment.

Requirements

10+ years minimum, Strong background in insurance underwriting and actuarial science preferred.
At least 5 years working as an actuary in the Insurance industry and having an ACAS designation
Bachelor’s Degree in a quantitative discipline: Statistics, Mathematics, Economics, Operations Research
Support a robust pricing and/or reserving review process for insurance business, including both standard actuarial techniques and advanced modeling
Proficiency in data analysis tools, underwriting software, and statistical packages.
Develop indications and communicate them to Actuarial Management and Senior Leadership
Work collaboratively as a part of the broader Pricing and/or Reserving process
Develop and communicate business analytics to Senior Leadership
Foster innovation within the team and across the broader organization
Lead and direct the work of others.
Ability to conduct large scale projects and research through all stages: concept formulation, definition of metrics, determination of appropriate methodology, research evaluation and final research report
Specialized ability to communicate highly technical subjects to the senior executives and others who have limited background in mathematics or statistics
Analytical and conceptual thinking – ability to understand business problems and develop data-driven solutions

Nice To Haves

Desired: 3 years working in Auto Insurance Industry with knowledge of Auto Insurance products.
Master’s Degree in related field
Professional certifications such as CPCU, FCAS, or ASA
Ability to build models using open-source software (e.g. R, Python), experience in distributed statistical computing preferred
Personal or commercial auto insurance experience
Excellent Excel skills and strong with SQL
Experience mentoring and/or directing junior team members.

Responsibilities

Evaluate complex insurance applications to determine risk levels and coverage eligibility.
Develop and implement underwriting guidelines and procedures to ensure consistency and compliance.
Review and approve high-value or non-standard policies, often requiring nuanced judgment and negotiation.
Collaborate with brokers, agents, and clients to clarify application details and negotiate terms.
Ensure regulatory compliance with insurance laws and internal standards.
Support the implementation of IFRS 17 for the insurance products
Understand and provide effective challenge on Pricing and Reserve calculation for Auto Insurance products
Collaborate with the Risk Management Planning and Reporting Group, Accounting and senior management in establishing adequate loss provisions for Insurance products
Engage with CFO, VP of Finance and Chief Risk Officer, Accounting, Risk Management, Brand executives and external auditors to gain acceptance on the loss and reserve forecasts. Provide technical and operational support to auditors to ensure successful audit close
Be able to extract data from data warehouse for Insurance products and perform analysis on upcoming issues/trends
Providing all actuarial inputs for income recognition for actual and forecast models
Regular updates on Loss curves vs. priced. Perform comparison of actual to priced loss ratios
Lead and mentor a team of underwriters and analysts, providing training and performance feedback.
Set strategic direction for underwriting and risk management aligned with company goals.
Implement process improvements to enhance efficiency, accuracy, and turnaround times.