BSI Actuarial - Centralized Pricing - Manager

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

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

$106,300.00 - $175,400.00

Target Openings

1

What Is the Opportunity?

We��re seeking a Manager to drive B&SI Actuarial forward on our journey to improve our depth of insights while increasing the speed and efficiency of actuarial processes. This role is primarily responsible for developing and delivering investments in the methodologies and tools that will increase our capabilities in the Financial Modeling, Forecasting, and scenario testing functions. This role will operate in close partnership with the Product Actuaries.

The Manager, Actuarial and Analytics is an analytic leadership role that encompasses the shared responsibility of project and strategic execution with actuarial, analytic and business partners, in addition to assigned operational assignments which may include reserving, rate-making, pricing, planning/forecasting, project management and research. The individual in this role is expected to be an influential member of project teams, providing analytical insights and recommendations to leadership and Business unit partners. The Manager, Actuarial and Analytics will work on complex assignments requiring specialized knowledge and expertise in breadth and/or depth in one or more of the following areas: Actuarial and/or research methods, Advanced statistical analyses, Solid business knowledge, Line of Business knowledge.

What Will You Do?

Specific areas of focus include the Rate Actual Versus Expected tools, Eligibility Modeling, Automation of Renewals Modeling/Monitoring, improving actuarial methodology and metrics, and developing a pricing scenario forecasting capability (Financial Modeling) to support the advancement of our Pricing Guidance reviews. 

Project examples include:

• Financial Modeling – support the development of a consistent framework and best practices for modeling our pricing scenarios for the portfolio in partnership with the Product actuaries. Support the build of a tool suite that delivers this capability.
• Eligibility Tools – develop and maintain tools that measure the impact of alternative eligibility rules for Flow/Low Touch business on key business outcomes, such as pricing and retention.
• Rate Expectations Modeling – continue enhancement of our monitoring of rate change relative to expectations driven by field execution and differences in rating plan variables to assess the financial impact of strategy changes.

Strategy:

• Participate in a lead role in the successful execution and completion of assigned strategic initiatives and projects.
• Develop solutions to resolve challenges of an initiative.
• Propose change and innovation in order to improve project team performance and timelines.
• This position will often participate on cross-unit initiatives and may participate on Enterprise initiatives.

Operational:

• Independently perform actuarial and analytic analyses to solve business problems and apply judgment appropriately.
• Support and drive components of unit initiatives. Begin to support broad department initiatives.
• Take accountability for process efficiencies within assignments.
• Begin to make proposals in accordance with department practices.
• Provide support as necessary for initiatives across the Enterprise within the scope of influence.

Communication:

• Communicates analysis, project results, and other business initiatives to peers and business partners.
• Communicates technical topics to non-technical audience within the primary working group with guidance from manager.
• Actively participates and may lead group discussions at the unit level.
• Creates formal written