AVP, Corporate Actuarial, Reserving & Loss Analytics

Arch Insurance Group Inc.•Jersey City, NJ

1d•Onsite

About The Position

The Reserving and Loss Analytics team provides an independent assessment of the balance sheet and portfolio of risks, ensuring the adequacy and accuracy of the reserves as well as communicate the quarterly reserve analyses to the Company’s executive leadership, auditors, and regulators. The role will be responsible for helping expand the vision and direction for Arch Insurance Group, Inc. North America’s reserving and loss analytics function. This individual will help build a best-in-class reserving organization that is providing an accurate, transparent, and independent view of the business. This leader will have an explicit focus on Corporate Actuarial function which includes management of regulatory communication, NAIC Statement of Actuarial Opinion processes, external and internal audit framework, third party reserve analyses on behalf of the Arch Insurance Group, SOX compliance, as well as US GAAP and Statutory reporting requirements in closer partnership with both Arch Insurance Group Finance organization and Arch Capital Actuarial and Finance organizations. This leadership role will own reserving and loss analytics and results management for the Programs’ book of business as well as lead multiple key processes across the Reserving and Loss Analytics department. The role requires a comprehensive line of business focus (Auto, GL, Prop, and WC) as well a close partnership with Pricing and Underwriting on industry trends, underwriting actions, and more. This role is a unique opportunity to enhance the loss analytics of the highly visible Programs’ book as well as drive improvements and efficiencies across the Reserving and Loss Analytics organization.

Requirements

A minimum of 10 years’ experience in progressively complex actuarial roles within the property and casualty insurance industry
A minimum of 5 years’ experience within a Reserving function
Associate or Fellow of the Casualty Actuarial Society
Leadership: Strength and experience as a teacher, manager, peer, leader and contributor to a positive culture
Analytical and quantitative skills: theoretical foundation, work quality, productivity, creativity, ingenuity
Software skills: Excel (expert), Word, PowerPoint; SQL (expert), database and programming skills
Self-sufficient with competence to progress and build comprehensive reserving models and analytic solutions.
Excellent verbal and written communication skills.
Able to communicate complex technical concepts to a wide range of audiences including executive leadership and the board.
Proven expertise leading and developing actuarial teams.
This individual will have experience developing high performing teams with strong technical skills and business acumen.
Experience presenting to executive management and external stakeholders.
Demonstrated experience providing proactive guidance and sought-out insights to business leaders, executive management, and other stakeholders.

Nice To Haves

Power BI (preferred)
Snowflake knowledge (preferred)
Python knowledge (preferred)

Responsibilities

Own Reserving and Loss Analytics for the highly visible Programs’ book of business
Work in close collaboration with underwriting, pricing, claims and finance to develop a common view of the business.
Work in partnership with various stakeholders to identify emerging trends that could impact results and propose corrective action in a timely manner.
Lead projects across the Reserving & Loss Analytics Team and get work done in collaboration with others.
Provide proactive insights, identify the drivers and ensure that the reserve analyses reflect any changes in the portfolio to minimize volatility and avoid surprises.
Apply innovative approaches and leading-edge tools to analyze the business.
Seek opportunities to leverage advanced analytics to provide greater insights.
Ensure the quality of the data and its consistent application in the reserving process.
Prioritize the work to ensure the reserving and loss analytics function is delivering analyses that is of greatest benefit to the organization.
Assume an active leadership role within Arch’s actuarial community and keep abreast of new reserving methodologies, trends and product/ tort reforms and other external issues.