Berkley

  • Vice President, Chief Actuary

    Location Name AZ, Scottsdale - 7233 E Butherus Drive
    ID
    2019-2931
    Date Posted
    2 months ago(8/23/2019 4:53 PM)
    Company
    Nautilus Insurance Group
    Primary Location
    US-AZ-Scottsdale
    Category
    Actuarial
  • Company Details

    Nautilus_Logo

    Nautilus Insurance Group is a strong underwriting Company and respected leader in the E&S industry. Our culture promotes creativity, integrity and respect, allowing us to attract and retain quality employees. Nautilus is a subsidiary of the W. R. Berkley Corporation, a Fortune 500 company recognized as one of the most respected names in the property casualty insurance industry. Nautilus writes Commercial Excess and Surplus Lines business in all 50 states.

     

    About W. R. Berkley Corporation

    W. R. Berkley Corporation, founded in 1967, is one of the nation’s premier commercial lines property casualty insurance providers. Each of the operating units in the Berkley group participates in a niche market requiring specialized knowledge about a territory or product. Our competitive advantage lies in our long-term strategy of decentralized operations, allowing each of our units to identify and respond quickly and effectively.

     

    Responsibilities

     

    The Actuarial Vice President is responsible for input, collaboration, and implementation of Nautilus’ strategies, goals and philosophy within the Actuarial department.  The role contributes to the company’s total profitability through the management of the Department’s financial results.  The successful candidate must demonstrate strong leadership qualities and holistic thinking is essential.

    The role is responsible for GAAP evaluation on the adequacy of reserve levels and diligent routine review of rate levels.

     

    RESPONSIBILITIES:

     

    Ratemaking & Price Monitoring:

    • Monitors and evaluates rate level adequacy for various lines of business.
    • Drives and guides creation, integration, and enhancement of ratemaking tools (such as rate level indications, rate comparisons, state review process, etc.).
    • Establishes regular state review schedule.
    • Guides & constructs price monitoring devices. Uses price monitor information to enhance ratemaking and reserving efforts.

     

    Loss Reserving:

    • Responsible for establishing, maintaining, and enhancing entire GAAP Loss Reserving process within the Actuarial discipline. Includes, but is not limited to, setting up and/or utilizing development triangles, applying various actuarial methods and techniques, projecting ultimate values, preparing a full and descriptive report that includes underlying details, assumptions, and opinion of reserve adequacy. 
    • Provides a Statement of Actuarial Opinion or communication as needed each quarter on a GAAP basis. Includes assessment of overall reserve adequacy for discussion and/or presentation to CFO, CEO, and Corporate. 
    • Responsible for preparing and presenting opinion to CEO, CFO, and WRBC Actuarial on a quarterly basis. When feedback or challenges to presentation arise, assesses and adjusts projections accordingly. Opinions to be prepared judiciously.
    • Submits Loss Reserve Opinion to Corporate Appointed Actuary for consideration in preparing their opinion.

     

    Results Management & Financial Analysis:

    • Identifies opportunities for improvement as surfaced through loss reserving or ratemaking efforts. Assesses size of and speed to bottom-line impact of identified issues.  Communicates findings to management and affected parties.
    • Actuarial Studies and Analysis –Guides the design of early detection devices, effective monitoring reports, results analysis, and performance summaries. Facilitates use and understanding of the output of these tools in the business community, promoting integration of these tools into processes as necessary.  Includes, but is not limited to, case reserve adequacy studies, analysis of programs, rating structure changes, etc.

     

    Leadership/Management:

    • Provides holistic leadership & management to the Actuarial team, including but not limited to recruiting, training, motivating, coaching, prioritization of work product, appraising performance, rewarding, disciplining, salary administration, and communication of the bigger company picture.
    • Provides educational opportunity and training for all team members. Provides common platform & understanding for entire Actuarial team regarding the following:

    (1.) The fundamentals of insurance, ratemaking, and loss reserving,

    (2.) Advantages and disadvantages of methodologies,

    (3.) Actuarial unit goals and expectations, and

    (4.) Company goals.

     

    Qualifications

    • Bachelor’s degree in related field required
    • Designation of Associate of the Casualty Actuarial Society (ACAS) required.
    • CAS Exam 7 highly preferred.
    • Fellow of the Casualty Actuarial Society (FCAS) preferred.
    • Excellent interpersonal communication skills required – written, verbal, executive presentation
    • Advanced Mathematical skills required – ability to design high-level statistical models and application of actuarial techniques and modeling methods
    • Minimum of 10 years Actuarial experience with strong reserve and ratemaking background required
    • Strong knowledge of insurance, business, and finance required
    • Must have advanced proficiency in Windows and Office environment, specifically Excel required. Strong skills in other statistical software packages required.
    • Programming knowledge is highly preferred

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