Senior Actuarial Manager (Cross-Line Initiatives)

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.

Salary Range

$116,900.00 – $192,900.00

What Is the Opportunity?

Business Insurance is seeking a motivated, technically minded individual to join our Cross-Line Initiatives Actuarial Product team. The Cross-Line team enables deeper insights with velocity by optimizing efficiency across Actuarial Product & Regulatory and BIAA, driving cross-line initiatives, effectively executing core processes, and transforming the approach and science of product and pricing analytics.

This individual will help with the ground-up build & design of FRAN, or Flexible Rate Adequacy Network, the new long-term infrastructure vision to support Business Insurance Rate Adequacy. FRAN will provide BI rate adequacy stakeholders with one comprehensive, streamlined rate adequacy framework: creating more consistency, agility, and sophistication. This position will include opportunities to build & design tools from the ground-up, establish best practices & standards for our Business Insurance rate adequacy methodology, and interact with key leaders across Business Insurance.

The responsibility for this role will be dual purpose: engineering the actuarial methodology built into FRAN as well as supporting the technical build. Ideal candidates would have strong critical thinking skills, familiarity with actuarial rate adequacy methodology, and a good technical background in Python, SQL, and/or VBA. Experience in other programming languages (e.g., R, SAS) is also acceptable. Other desirable qualities include an ability to challenge existing processes, communication, and listening/gaining consensus across multiple stakeholders.

Specific responsibilities include:

• Support the actuarial & technical development of FRAN (Flexible Rate Adequacy Network)
• Work with Actuarial Product and Business Unit actuaries to ensure FRAN is optimally catered to their needs
• Gain rate adequacy methodology consensus across lines, achieving consistency where possible while recognizing where deviations are necessary
• Think critically about each actuarial calculation within the rate adequacy process build; ensure it is accurate and appropriate

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.

What Will You Do?

Strategy:

• Hold a lead role in strategic planning as well as manage 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.
• Drive day to day execution within unit. Support broad department initiatives.
• Begin to 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.
• Begin to provide direction and review others’ analytical work.
• Begin to translate business requests into analytical solutions.
• Provide support as necessary for initiatives across the Enterprise within the scope of influence.

Communication:

• Communicates analysis, project results, and other business initiatives on a regular basis to staff, peers, and business partners.
• Communicates technical topics to non-technical audience with guidance from manager.
• Actively participates and may lead group discussions.
• Creates formal written communication such as memos or presentations with guidance.
• Networks and collaborates on ideas and challenges.

Talent:

• Acquisition, retention, and development of talent for assigned unit.
• Execute and communicate talent development processes, including performance and personal development goals.
• Talent assessment recommendations.
• Performance management.
• Mentor less experienced talent across the Enterprise.
• Onboard new employees and interns in unit.
• Support various training and skill development initiatives across assigned Segment and the Enterprise.
• May provide support for recruiting efforts and candidate talent assessment efforts.

What Will Our Ideal Candidate Have?

• College degree in STEM related field.
• Associate Actuarial Credential preferred.
• Strong programming skills: majority of work will be in Python, SQL, & Excel; qualified candidates may have experience in these languages OR other programming languages (R, SAS, VBA).
• 5+ years of quantitative analysis experience preferred.
• Strong understanding of insurance products and industry.
• Demonstrated ability in actuarial and quantitative analysis and statistical concepts.

Leadership:

• Take ownership of projects including initiating the project, drawing up the project plan, carrying out the action items and make recommendations.
• Proficient in Leading Self, exhibiting decisiveness and self-awareness while also effectively managing ambiguity.
• Initial development of Leading Others, including modeling the way for others and leading team projects.
• Initial development of Leading the Business, including actively engaging in driving business results, broad thinking and promoting an Enterprise culture.

Business Acumen:

• Has an in-depth understanding and knowledge of a few key business drivers and disciplines such as: underwriting, products, reinsurance, distribution, sales, operations, risk control, claim, and financials.
• Able to effectively utilize this business knowledge in developing analytic solutions.
• Has a general perspective of certain areas of the industry and developing trends such as: technology, analytic methodology, products and performance of competitors.
• Begins to be familiar with other key business drivers and discipline areas as well.

Relationship Management:

• Proactively build and own professional business relationships across the BI&AA community across the Enterprise.
• Generate and solicit ideas, and build consensus with guidance.
• Aware of potential conflict and addresses with limited guidance.
• Begin to acknowledge accomplishments of others within your primary working group.
• Set and manage expectations with business partners for small projects.

Quantitative Analysis:

• Evaluate and use appropriate data, tools and methods.
• Independently perform and implement analytics.
• May engage in technical/peer review.
• Begin to design and able to contribute on more complex analytic work.
• Begin to understand diverse perspectives to effectively accomplish business goals.

What is a Must Have?

• Bachelors Degree or equivalent experience required.
• 3 years of experience in quantitative analysis required.

What Is in It for You?

• Health Insurance: Employees and their eligible family members – including spouses, domestic partners, and children – 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 is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health 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. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers 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, where we celebrate differences, promote belonging, and work together to deliver extraordinary results.

In accordance with local law, candidates seeking employment in Colorado are not required to disclose dates of attendance at or graduation from educational institutions.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.