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Travelers is hiring an

Actuarial Director (Reserving Analytics)

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.

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

What Is the Opportunity?

The Corporate Actuarial team is looking for a curious, organized, and motivated individual to join our team. This is a new position to Corporate Actuarial with a goal of furthering our analytic capabilities of the loss analytics & reserving function at Travelers. This role will collaborate with different business functions including the team in Corporate Actuarial, the reserving teams in the business segments (BI, PI, BSI, Intl), ERM, Legal, Audit, and senior actuarial management. This role will be a valuable resource as we invest in new analytic approaches and capabilities that aim to deepen the loss reserve insights that we are able to provide to the business.

Ideal candidates will have familiarity with traditional reserving methods and approaches, strong critical thinking skills, an analytic curiosity with a willingness to test and learn new techniques and approaches, a strong technical background, and the ability to drive projects forward independently. Strong communication and organization skills will also be critical. Experience performing reserve reviews in a previous role is preferred but is not required.

While the position will not have any formal direct reports, there will be opportunities to informally lead and influence others in this role including individuals who may be more senior.

The work will include:

* Hands on Analysis & Technical Exploration – 75%

o Lead exploratory reserve analysis efforts using new tools and methodologies (i.e. proof of concepts of external vendor tools)

o Support the ideation and hands on build of any internal tools identified to meet business needs (i.e. inflation sensitivity)

o Partner with segment actuaries on in flight work including providing peer review support, serving as an additional resource to accelerate efforts, and by helping to broaden applicability of approaches/capabilities across the segments

o Perform ad-hoc deep dive analyses to answer business questions arising from the current economic environment

o Assist with year-end actuarial reserve work as a part of the traditional Corporate Actuarial responsibilities where needed

* Project Management – 25%

o Project planning and overall program management of the reserve capabilities program (prioritization of work, recruitment and management of resources, and informal leadership of project teams)

o Establish a framework to engage with external vendors to explore analytic opportunities

In this role, the candidate would deepen their understanding of the existing reserving and loss analytic toolset and methodologies across Travelers, learn about current challenges and opportunities within our reserving functions, gain exposure to advanced techniques being employed in the analysis of loss reserves in the industry, and engage with external partners in the evaluation of tools and capabilities in the market.

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.
  • Provide direction and review others’ analytical work.
  • Translate business requests into analytical solutions.
  • Provide support as necessary for initiatives across the Enterprise within the scope of influence.

Communication:

  • Communicates on a regular basis with staff, peers and business partners and on an occasional basis with senior leaders.
  • Tailors communication of analysis, project results, and other business initiatives to audience.
  • Communicates technical topics to non-technical audiences with limited guidance.
  • Leads group discussions with primary working group.
  • Creates formal written communication such as memos or presentations with limited guidance.
  • Able to influence and collaborate with peers and partners to take actions to enhance business outcomes.

Talent:

  • Staff responsibilities are likely to include direct management of a small team of individual contributors.
  • Acquisition, retention, and development of talent for assigned unit.
  • Execute and communicate talent development processes, including performance and personal development goals.
  • Succession planning and talent assessment recommendations.
  • Performance management.
  • Support staff engagement cross Enterprise initiatives.
  • Mentor less experienced talent across the Enterprise.
  • Onboard new employees and interns in unit.
  • Support various training and skill development initiatives across Segment and the Enterprise.
  • May provide support for recruiting efforts and candidate talent assessment efforts.
  • Perform other duties as assigned.

What Will Our Ideal Candidate Have?

  • College degree in STEM related field.
  • Associate Actuarial Credential preferred.
  • 7+ years of quantitative analysis experience.
  • Strong understanding of insurance products and industry.
  • Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
  • Management experience.
  • Excellent communication, collaboration and relationship-building skills.
  • Ability to present and translate complex information in relevant business terms.
  • Strong PC skills (MS Office) and programming skills (eg. SQL, SAS).

Leadership:

  • Begins to challenge conventional thinking.
  • Takes ownership of projects related to strategic initiatives and makes recommendations to influence business outcomes.
  • 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 effectively 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 certain 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 and implementing analytic solutions.
  • Has a general perspective of the industry and developing trends, including: technology, analytic methodology, products, and performance of competitors.
  • Is familiar with other key business drivers and disciplines.

Relationship Management:

  • Proactively build and own professional business relationships across the Enterprise.
  • Generate and solicit ideas, and build consensus
  • Aware of potential conflict and address proactively.
  • Acknowledge accomplishments of others within your primary working group.
  • Set and manage expectations with business partners for large projects.
  • Understand diverse perspectives to effectively accomplish business goals.

Quantitative Analysis:

  • Able to introduce innovative techniques to existing problems.
  • Independently perform and implement complex analytics.
  • Leads and actively engages in technical/peer reviews.
  • May offer technical consultative feedback.
  • Can assess various technical solutions to optimize analytical outcomes.

What is a Must Have?

  • Bachelor’s Degree required.
  • Minimum of 4 years of experience performing 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.

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