Actuarial Manager

at  Virginia Farm Bureau

POSITION SUMMARY:

The Actuary Manager will direct and supervise the activities of the Actuarial unit to ensure rates for all Virginia Farm Bureau (VFB) product lines are profitable, competitive and consistent with company goals and objectives.
Under the leadership and direction of the Actuary Manager, this team is responsible for rate indication, profitability, and trend analysis for the Personal and Commercial lines of business including, Auto, Property, Casualty, Farm, BOP and others. This work is directly used to inform line of business strategy, profit forecasts, rate decisions, and the financial plan. You will research and analyze internal and industry data to form a holistic assessment of profitability. You will lead research and development of advanced ratemaking methods to provide actionable insights. You will drive process and data improvements, including for a widely used granular profitability database. The team works closely with a variety of groups, including Sales, Underwriting and Claims.

MINIMUM EDUCATIONAL/EXPERIENCE QUALIFICATIONS

• Bachelor’s degree in Mathematics, Statistics or Actuarial Science.
• With 10+ years of experience in the property/casualty actuarial field.
• Minimum 5+ years of management or leadership experience.
• Fellowship or Associateship in the Casualty Actuarial Society (FCAS or ACAS), or comparable actuarial education/designation combined with relevant experience

MINIMUM SKILL QUALIFICATIONS

• Extensive PC skills including databases, spreadsheets, PowerPoint and Windows word processing packages
• Proven analytical ability
• Strong interpersonal skills
• Excellent oral and written communication skills

PREFERRED QUALIFICATIONS

• Proficiency in accessing mainframe database and working within systems for actuarial data integrity
• Ability to format analytical report requests and exchange information between and across systems
• Familiar with policy form provisions
• Knowledge of one or more programming language is a plus
• Associate or Fellow designation strongly referred

PRIMARY DUTIES

• Establish and control actuarial rates, rating structures, and systems
• Directs and coordinates activities of the team performing analyses affecting pricing strategies for VFB product lines
• Plans, implements, and facilitates project resources across all strategic initiatives
• Works collaboratively across all business units
• Prepare required financial and regulatory reports and oversee the analysis of financial information used to produce forecasts for making rate decisions
• Manages and mentors team members; supports hiring and development of staff
• Ensure products and rates are actuarially sound and competitive for VFB and CW
• Manage actuarial support functions to ensure department goals are met
• Analyze data using modeling techniques and statistical concepts to determine probability and assess risks
• Present reports, explaining their implications to business leaders, advising on risk limitation
• Responsible for actuarial resource management
• Conduct audits and other technical quality review programs

ADDITIONAL DUTIES

• Provide resources and support for IT implementation projects
• Manage expenses of the actuarial unit
• All other duties as assigned by the manager.