Director, Actuarial & Analytics, Residual Market Actuarial

Who 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 Category

Actuarial, Data Analytics

Compensation Overview

The 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

$127,900.00 - $211,100.00

Target Openings

1

What Is the Opportunity?

In Business Insurance Actuarial and Analytics, we deliver tailored analytics and innovative data science solutions that influence decisions and enable superior results. We have an inclusive culture where everyone feels that they belong, can be authentic, are valued, respected, empowered and part of our success. We see strength in the uniqueness that each of us contributes to creating innovative solutions and improving business outcomes.

This Director, Actuarial & Analytics is an analytic leadership role that is responsible for the actuarial support for the Residual Market Division (RMD), which offers workers' compensation insurance to businesses that are unable to obtain coverage in the voluntary insurance market. This leader will execute strategic and operational initiatives, drive change within assigned unit, and provide analytical insights and recommendations to leadership and business partners including Loss Analytics, Actuarial Product, WC Product, Enterprise Risk Management, Finance, brokers, clients, and reinsurers. Reporting to the AVP of the Residual Market Division, the Director, Actuarial and Analytics will work within broad limits and authority on complex assignments requiring specialized knowledge and expertise in breadth and/or depth in the following areas: Actuarial and/or research methods, Advanced statistical analyses, Broad business knowledge, In-depth Line of Business knowledge, and Broader awareness of enterprise Actuarial & Analytics community.

Specific areas of responsibility include:
• Calculate and provide IBNR for each Direct Assignment Client Company quarterly
• Monthly and Quarterly Reporting of Profitability & Performance Measures, Premium & Loss Activity, External reporting for Missouri & Florida, and Premium Collections
• Reinsurance Renewals
• Create the Data Submission Package for the Reinsurance Renewals
• Support the reinsurance renewals through analyses and presentations to the reinsurers
• Lead annual business planning for RMD Actuarial and partner with National Finance by providing estimates of written premium, uncollectible premium, policy counts, losses, ALAE, & ULAE
• Analyze Allocated and Unallocated Loss Adjustment Expense and provide estimates for bid pricing, profitability analysis, reserving, and business planning
• Calculate and provide Residual Market Loads to the voluntary markets for use in their pricing, benchmarks, planning, and profitability analyses
• Support mandatory reinsurance commutations in partnership with Loss Analytics
• Support for various National Accounts project as needed
• Estimate and project the industry volumes by state for Pool and Direct Assignment

What Will You Do?

Strategy:

• Assess, prioritize, influence and communicate strategic initiative options to senior leaders.
• Demonstrate effective execution and completion of assigned strategic initiatives and projects.
• Regularly generate process improvements and explore opportunities for innovation.
• Lead assigned unit strategic initiatives (narrow scope, limited and well defined) and cross-unit initiatives on a limited basis and is expected to participate in Enterprise initiatives on a limited basis.

Operational:

• Independently perform actuarial and analytic analyses to solve business problems and apply judgment appropriately.
• Drive day to day execution within unit. Support broad department initiatives.
• Promote efficiency across primary working group, balancing additional effort against incremental lift gained from work.
• Begin to make decisions independently in accordance with department practices.