Vice President - Actuary, Head of Reserving

Ascot Group•Chicago, IL

3d•Hybrid

About The Position

Ascot Group is seeking a Vice President - Actuary, Head of Reserving to lead its US Reserving team and oversee the quarterly reserving process. The role includes managing reserve selections and assumptions, presenting recommendations to the US Reserve Committee, supporting legal entity and corporate reporting, and providing management’s best estimate of reserves in light of key uncertainties and risks. The position also drives enhancements to reserving processes, data, analytics, diagnostics, and best-practice policies, and partners with reserving leads in the UK and Bermuda to improve group-wide capabilities and consistency. The successful candidate will lead and develop a high-performing team, including recruiting, retaining, and developing staff. As a senior actuarial team member, the role is expected to embody The Ascot Way through engagement and development of colleagues, collaboration, inclusivity, and individual accountability. Ascot is embedding AI and automation across the organization; the role requires confidence working with AI-enabled tools, sound judgment when interpreting insights, curiosity, critical thinking, and adaptability as technology evolves.

Requirements

Bachelor’s degree in Mathematics, Statistics, Economics, Actuarial Science, or a related field, or the mathematical and analytical skills normally acquired through pursuing such a degree.
At least 15 years of relevant actuarial experience, including at least 5 years of reserving experience in a leadership role.
Proven managerial experience and the ability to train and develop junior-level people managers to become effective managers and coaches.
Demonstrated track record of hiring, developing, and retaining high-performing teams.
FCAS designation held for at least 7 years.
Extensive experience and knowledge of advanced actuarial techniques and standards and insurance operations.
Excellent verbal and written communication skills, with the executive presence and confidence to present findings effectively to stakeholders.
Ability to exercise discretion and apply independent judgment and critical thinking in executing assignments.
Ability to balance multiple projects with minimal direction.
High attention to detail and a strong ability and desire to collaborate across the organization.
Curiosity, critical thinking, and willingness to embrace change and evolving technology.

Nice To Haves

Experience using Arius reserving software.

Responsibilities

Lead and oversee the quarterly reserving process, including initial reconciliations, ACE selections, peer review, management reporting, controls, and documentation.
Present ACE recommendations to the quarterly US Reserve Committee, clearly communicating the underlying story and findings beyond the numbers.
Oversee selection of actuarial assumptions, including initial expected loss ratios, loss development curves, default method weights, and other key inputs.
Support legal entity and corporate reporting requirements.
Oversee regularly scheduled and ad hoc deep-dive analyses on lines of business and reserving areas of focus.
Enhance processes and data flows and improve reserving analytics.
Lead the US Reserving team, including recruiting, retaining, and developing staff to support a high-performance reserving function.
Recommend management’s best estimate of reserves based on key uncertainties and risks.
Maintain, create, and improve best-practice reserving practices and policies.
Enhance data and capabilities to improve reserving analytics and diagnostics.
Peer review segment calculations of pricing loss ratios and pricing model assumptions.
Partner with UK and Bermuda reserving leads to improve group reserving capabilities and consistency.
Model The Ascot Way through colleague engagement and development, collaboration, inclusivity, and individual accountability.
Work confidently alongside AI-enabled tools, apply sound judgment when interpreting insights, and adapt as technology evolves.

Benefits

Medical insurance, including prescription coverage.
Dental insurance.
Vision insurance.
Health Savings Account.
Commuter Account.
Health Care and Dependent Care Flexible Spending Accounts.
Life insurance and AD&D.
Work/Life Resources, including an Employee Assistance Program.
Paid holidays.
Annual Paid Time Off, including paid state or local leave where required.
Short-term disability.
Long-term disability.
Other leaves, including bereavement, FMLA, adoption, maternity, military, and primary and non-primary caregiver leave.
Contributory Savings Plan (401k).
Annual cash bonus and other forms of discretionary compensation may be awarded.