BSI Actuarial - Centralized Pricing - Senior Director

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

$142,500.00 - $235,100.00

Target Openings

1

What Is the Opportunity?

We’re seeking a Senior Director 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 leader is responsible for driving our investments in the methodologies and tools that will increase our capabilities in the Financial Modeling, Forecasting, and scenario testing functions.

The Sr. Director, Actuarial and Analytics is an analytic leadership role that is responsible for assigned unit typically involved in reserving, rate-making, pricing, planning/forecasting, project management and research. This role is expected execute strategic and operational initiatives, drive change within assigned unit and influence leaders up to the VP level with business partners in assigned area, and share ownership of business financial results. The Sr. Director, Actuarial and Analytics will work within broad limits and authority on complex initiatives requiring specialized knowledge and expertise in breadth and/or depth in several of the following areas: Actuarial and/or research methods, Advanced statistical analyses, Broad business knowledge, In-depth Line of Business knowledge, Broader awareness of enterprise Actuarial & Analytics community.

This role will operate in close partnership with the Product Actuaries and will manage one Manager level actuary.

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 – develop a consistent framework and best practices for modeling our pricing scenarios for the portfolio in partnership with the Product actuaries. Lead the development of a tool suite that delivers this capability.
• Eligibility Tools – lead the development of 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 – drive continued 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:

• Assess, prioritize, influence and communicate strategic initiative options to senior leaders.
• Demonstrate effective execution and completion of assigned strategic initiatives and projects.
• Generate and advocate for process improvements and actively propel innovation in alignment with existing strategy.
• This position will lead assigned unit strategic initiatives and cross-unit initiatives 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. Begin to drive broad department initiatives.
• Promote efficiency across primary working group, balancing additional effort against incremental lift gained from work.
• Make decisions independently in accordance with department practices.
• Consistently provide direction and review others' analytical work.
• Begin to translate ambiguous business needs into analytical solutions.
• Provide support as necessary for initiatives across the Enterprise within the scope of influence.