Senior Actuarial Manager (Woodbridge)
Plymouth Rock Assurance, Woodbridge, NJ, United States
The Senior Actuarial Manager, supporting the direct-to-consumer and partnerships channels, serves as a subject matter expert and team leader with primary responsibilities in reserving, rate indications, and claims analysis for the Auto and Homeowners lines of business. This role is also responsible for researching new approaches to business issues and developing frameworks to incorporate these concepts into our reserving and rate indication processes. The candidate is expected to extract and leverage information and insights from relevant internal and external data sources to evaluate and communicate key business drivers impacting our financial performance.
RESPONSIBILITIES
Lead reserving analysis using both traditional and current non-traditional methods; will also be responsible for developing new non-traditional methods.
Lead rate indication analysis using both traditional and current non-traditional methods; will also be responsible for developing new non-traditional methods.
Responsible for loss trend analysis using both internal and external data to assess drivers and potential future outcomes of frequency and severity trends.
Develop and analyze key claims metrics and statistics to improve the accuracy of reserve estimates.
Partner with Finance team to ensure accurate booking of bulk reserves.
Assist claims management with developing new reports for operations management and with claims initiative analysis including helping to develop new processes and measuring profitability impacts.
Maintain an external network within the insurance industry to stay current on emerging trends and approaches to business issues.
Manage and develop actuarial team members.
Serve as a mentor to other team members on aspects of project work, insurance and general business knowledge.
Perform other job-related duties as assigned.
QUALIFICATIONS
Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics, or a related field.
7+ years of actuarial experience in a similar professional environment; Prior management experience preferred.
Fellow or near-Fellow, Casualty Actuarial Society (FCAS or near-FCAS).
Demonstrated experience in loss reserving, rate indications, and claim metric analysis, including the development and implementation of new and enhanced analytical approaches.
Expert MS Office skills required; Experience with querying tools (SQL) preferred.
Proficiency with reserving software (ResQ or similar tools) required.
Superior project management and problem-solving skills.
Ability to translate complex issues into actionable insights, including identifying appropriate data, designing analytical approaches, leading the analysis, and communicating results to both technical and non-technical audiences.
Demonstrated ownership of complex business issues, with the ability to drive them through to resolution.
Strong critical-thinking skills and intellectual curiosity.
Thorough understanding of insurance products and the insurance industry.
SALARY RANGE
The pay range for this position is $195,000 to $275,000 annually. Actual compensation will vary based on multiple factors, including employee knowledge and experience, role scope, business needs, geographical location, and internal equity.
PERKS & BENEFITS
4 weeks accrued paid time off, 8 paid national holidays per year, and 2 floating holidays
Low cost and excellent coverage health insurance options that start on Day 1 (medical, dental, vision)
Annual 401(k) Employer Contribution
Free onsite gym and health center at our Woodbridge Location
Resources to promote Professional Development (LinkedIn Learning and licensure assistance)
Robust health and wellness program and fitness reimbursements
Various Paid Family leave options including Paid Parental Leave
Tuition Reimbursement
ABOUT THE COMPANY
The Plymouth Rock Company and its affiliated group of companies write and manage over $2 billion in personal and commercial auto and homeowner’s insurance throughout the Northeast and mid-Atlantic, where we have built an unparalleled reputation for service. We continuously invest in technology, our employees thrive in our empowering environment, and our customers are among the most loyal in the industry. The Plymouth Rock group of companies employs more than 1,900 people and is headquartered in Boston, Massachusetts. Plymouth Rock Assurance Corporation holds an A.M. Best rating of “A-/Excellent”.
#LI-DNI
#WBACTU
RESPONSIBILITIES
Lead reserving analysis using both traditional and current non-traditional methods; will also be responsible for developing new non-traditional methods.
Lead rate indication analysis using both traditional and current non-traditional methods; will also be responsible for developing new non-traditional methods.
Responsible for loss trend analysis using both internal and external data to assess drivers and potential future outcomes of frequency and severity trends.
Develop and analyze key claims metrics and statistics to improve the accuracy of reserve estimates.
Partner with Finance team to ensure accurate booking of bulk reserves.
Assist claims management with developing new reports for operations management and with claims initiative analysis including helping to develop new processes and measuring profitability impacts.
Maintain an external network within the insurance industry to stay current on emerging trends and approaches to business issues.
Manage and develop actuarial team members.
Serve as a mentor to other team members on aspects of project work, insurance and general business knowledge.
Perform other job-related duties as assigned.
QUALIFICATIONS
Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics, or a related field.
7+ years of actuarial experience in a similar professional environment; Prior management experience preferred.
Fellow or near-Fellow, Casualty Actuarial Society (FCAS or near-FCAS).
Demonstrated experience in loss reserving, rate indications, and claim metric analysis, including the development and implementation of new and enhanced analytical approaches.
Expert MS Office skills required; Experience with querying tools (SQL) preferred.
Proficiency with reserving software (ResQ or similar tools) required.
Superior project management and problem-solving skills.
Ability to translate complex issues into actionable insights, including identifying appropriate data, designing analytical approaches, leading the analysis, and communicating results to both technical and non-technical audiences.
Demonstrated ownership of complex business issues, with the ability to drive them through to resolution.
Strong critical-thinking skills and intellectual curiosity.
Thorough understanding of insurance products and the insurance industry.
SALARY RANGE
The pay range for this position is $195,000 to $275,000 annually. Actual compensation will vary based on multiple factors, including employee knowledge and experience, role scope, business needs, geographical location, and internal equity.
PERKS & BENEFITS
4 weeks accrued paid time off, 8 paid national holidays per year, and 2 floating holidays
Low cost and excellent coverage health insurance options that start on Day 1 (medical, dental, vision)
Annual 401(k) Employer Contribution
Free onsite gym and health center at our Woodbridge Location
Resources to promote Professional Development (LinkedIn Learning and licensure assistance)
Robust health and wellness program and fitness reimbursements
Various Paid Family leave options including Paid Parental Leave
Tuition Reimbursement
ABOUT THE COMPANY
The Plymouth Rock Company and its affiliated group of companies write and manage over $2 billion in personal and commercial auto and homeowner’s insurance throughout the Northeast and mid-Atlantic, where we have built an unparalleled reputation for service. We continuously invest in technology, our employees thrive in our empowering environment, and our customers are among the most loyal in the industry. The Plymouth Rock group of companies employs more than 1,900 people and is headquartered in Boston, Massachusetts. Plymouth Rock Assurance Corporation holds an A.M. Best rating of “A-/Excellent”.
#LI-DNI
#WBACTU