Head of Reinsurance Pricing

UFG Career•Cedar Rapids, IA

1d•$220,000 - $250,000•Remote

About The Position

UFG is looking for an action-oriented actuarial leader with strong technical skills and business acumen to advance our reinsurance pricing framework and drive excellence in our actuarial pricing practices supporting the Alternative Distribution business unit. Alternative Distribution is a key strategic business for UFG as our third largest business unit providing profitable, diversifying results across a broad spectrum of insurance exposures and treaty structures. The individual in this role will develop and lead a team that is fully engaged with the business. The Head of Reinsurance Pricing focuses on delivering deeply analyzed pricing and underwriting recommendations and insights to better inform decision-making related to individual reinsurance treaties and overall portfolio profitability. The role will include developing and maintaining strong relationships with the Alternative Distribution business leaders, Finance, and Reserving Actuarial partners. Initial efforts will include enhancing an existing pricing framework with new tools, methodologies and practices designed to deliver reliable profitability guidance to the Alternative Distribution leadership team and underwriters.

Requirements

Fellow of Casualty Actuary Society (FCAS) preferred, qualified Associates may also be eligible.
Bachelor’s degree in mathematics, actuarial science, economics, or related field
Employees are expected to participate in continuing education throughout their careers.
10+ years of prior reinsurance pricing experience (or closely related) with at least 4 years in a leadership role
Hands-on experience with mature experience and exposure pricing tools at an established reinsurance company
Proven ability to develop and lead effective teams.
Excellent communication and interpersonal skills including the ability to convey complex information clearly and concisely, both verbally and in writing.
Strong working knowledge of actuarial techniques and standards, as well as other business operations including financial, underwriting, legal, statistics, claims, sales, etc.
Ability to exercise discretion, apply independent judgment and well-developed analytical, critical thinking and creative problem-solving skills.
Expert knowledge of Microsoft Office products including Excel, Power Point, Word and ability to develop proficiency with internal systems and reporting tools.
Strong verbal and written communication skills with the ability to communicate technical analyses to a non-technical audience.
Knowledge of commercial, specialty and financial insurance products and general insurance/business knowledge.
Able to manage and coordinate own projects using multiple resources.

Responsibilities

Manage the delivery of reinsurance pricing reviews for individual treaties and overall portfolio on assumed business to ensure the Alternative Distribution business unit meets or exceeds its profitability and growth targets
Build and maintain individual treaty and portfolio pricing tools to manage overall profitability expectations and provide analytical insight to sustain a profitable and well diversified portfolio
Complete industry analyses and reviews for assumed exposures to ensure a thorough understanding of market dynamics and maintain a current view of assumptions and parameters required to facilitate pricing and reserving for new and renewal opportunities
Effectively communicate analyses and pricing results to a variety of technical and non-technical audiences across the organization.
Maintain a thorough understanding of the portfolio profile and key accounts.
Partner with UFG reserving department to ensure appropriate evaluations of portfolio profitability are properly reflected in financial reports
Collaborate with all functions to improve data integrity, efficiency and functionality of administrative portfolio management and financial reporting tools
Ensure proper alignment between assumptions applied to UFG’s actuarial processes in corporate reserving and core pricing operations where appropriate
Collaborate with the business and Finance department to meet the corporate forecasting requirements as accurately as possible including quarterly forecasting and annual planning activities
Support the economic capital modeling (ECM) process maintained in the risk office as directed. Work with the risk office to ensure that assumed reinsurance is properly modeled for strategic steering and capital management purposes.
Mentor and develop actuarial staff including supporting their progression through the CAS exam process.
Lead the team in developing a vision, motivating employees, and facilitating achievement of their full potential.