Director, Actuarial & Analytics - BI Actuarial Product - CMP

Director, Actuarial & Analytics - BI Actuarial Product - CMP The Travelers Indemnity Company Hartford, United StatesWho Are We?Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.Job CategoryActuarialCompensation OverviewThe annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.Salary Range$129,200.00 - $213,200.00Target Openings1What Is the Opportunity?As a Director on the Business Insurance (BI) Actuarial Product - CMP team, you will lead the Rate Plan Management (RPM) function of the Business Insurance Travelers BOP Product. The role has responsibility, accountability, and ownership of the function from an actuarial perspective and directly partners with the Small Commercial State Product Management (PM) group to develop new state rate proposals with updated rates and model segmentation. In addition to delivering ongoing state rate proposals, the position will lead through an upcoming countrywide new Model Version Release into the marketplace, which also incorporates significant investments into several new product foundational capabilities. This function frequently leverages our common rating algorithm / engine used for rescoring our strategic BOP product. The position will help lead advancements in our data product and batch rating capabilities. The role will collaborate with business partners including State Product Management, CMP Line Product Management, Regulatory, Analytics & Research, Data & Analytics, and System Rating Teams. The position has 2 direct reports.What Will You Do?Lead state proposal development for team, including a countrywide model version release with a full refresh of all model variables.Independently lead a team of 2 direct reports to fulfill commitment to business to support annual rate proposal schedule for BOP strategic product.Perform as the direct actuarial point-of-contact in CMP Line PM leadership strategy discussions regarding direction of countrywide rate level for BOP product.Direct team in assessment / evaluation of new BOP model version release impacts and develop roadmaps for successful implementation of new version into the marketplace.Lead the development of the state proposal release schedule from an actuarial perspective focused on optimizing team capacity, rate needs, competitiveness, and approval timelines, including planning for the new model version release into the schedule.Provide actuarial leadership to the development of the User Interface (UI) tool to be built for the strategic batch rating capability, for use by Actuarial & PM to directly evaluate state proposal scenarios and generate state proposal impacts & policy histograms.Create process flow improvement plans for state rate proposal development in collaboration with Product Management.Improve pricing segmentation in the BOP strategic product through continued refinement of the pricing models.Partner with Product Management, Analytics & Research, Data Architects & Engineers, system Rating Teams, Regulatory, and others on implementing / updating / introducing new coverage / peril rates, rating variables, and coverages.Influence data quality improvements within key data products, and invest in further automation & process efficiencies.Conduct profitability, mix, competitiveness, and state / segment pricing studies and analyses.Effectively communicate business and / or technical findings to peers, business partners, and management.What Will Our Ideal Candidate Have?College degree in STEM related field.Associate Actuarial Credential preferred.7 years of quantitative analysis experience.Strong understanding of insurance products and industry.Demonstrated ability in actuarial and quantitative analysis and statistical concepts.Management experience.Excellent communication, collaboration and relationship-building skills.Ability to present and translate complex information in relevant business terms.Strong PC skills (MS Office) and programming skills (eg. SQL, SAS).What is a Must Have?Bachelor's Degree required.Minimum of 4 years of experience performing quantitative analysis required.What Is in It for You?Health Insurance : Employees and their eligible family members are eligible for coverage from the first day of employment.Retirement : Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.Paid Time Off : Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.Wellness Program : The Travelers wellness program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.Volunteer Encouragement : We have a deep commitment to the communities we serve and encourage our employees to get involved.Employment PracticesTravelers is an equal opportunity employer. We believe that we can deliver the very best products and services when our workforce reflects the diverse customers and communities we serve. We are committed to recruiting, retaining and developing the diverse talent of all of our employees and fostering an inclusive workplace.#J-18808-Ljbffr

Salary : $129,200 - $213,200