You have a clear vision of where your career can go. And we have the leadership to help you get there. At CNA, we strive to create a culture in which people know they matter and are part of something important, ensuring the abilities of all employees are used to their fullest potential.
Senior Actuarial officer position responsible for overall strategic direction and general management of pricing strategy for all Commercial and Specialty product lines and segments, in accordance with the company’s strategic plans. Will play a significant role in Actuarial strategy/policy formulation and execution. Sets expectations and drives actions to address business needs by ensuring rate competitiveness, collaborates with reserving to establish appropriate reserve adequacy, and partners with portfolio management to identify actions to optimize profitability. Establishes and promotes a pricing actuarial function that is influential and proactive in nature. Proactively communicates and collaborates with key business leaders on actuarial findings and business impact and establishes strong business partner relationships as a true trusted advisor. Champion the design, governance, and adoption of AI enabled actuarial capabilities that transform the Actuarial function while preserving actuarial judgement and regulatory compliance.JOB DESCRIPTION:
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
Partners closely with senior management to develop strategic and operational plans that have a substantial impact on the short-term success of pricing strategy for major product lines and segments, and has an impact on the long-term success of the company.
Communicates and collaborates with Underwriting Presidents and all Senior Underwriting Managers as a trusted advisor to identify opportunities for growth as well as identify portfolios in need of strategic change.
Maintains a strong understanding of external market dynamics and viable execution levers across the individual business areas in which CNA operates in order to provide actionable recommendations.
Creates a culture of collaboration that leverages and contextualizes cross-functional external data and analyses to inform actuarial work product.
Partners closely with Reinsurance, Underwriting, Finance, and Actuarial to analyze reinsurance options and strategies to optimize reinsurance usage and maximize operating income while balancing risk and aggregation.
Partners closely and collaboratively with Portfolio Management and Underwriting as well as Enterprise Risk Management, and Finance to establish appropriate underwriting profitability targets and strategies that vary by product, program, and geography to reflect capital needs. Provides impact quantification of strategic paths when appropriate to help inform strategy.
Leads and directs actuarial staff with full management accountability, with an emphasis on talent management, development, and succession planning.
Utilizes Data and Analytics to seek continuous improvement and modernization; embrace and advance the use of AI in order to transform the manner in which pricing actuaries work and engage.
Proactively monitors profitability of all product lines and segments to ensure present and future pricing strategies achieve short-term growth and profitability objectives. Partners with Portfolio Management, Actuarial Reserving, Claims, Underwriting, Finance, ERM, and other internal departments to exchange data and analyses of key performance and financial indicators.
Develops pricing and rate review strategies for all product lines and segments to ensure the achievement of continued profitability and/or growth objectives. Includes setting standards for frequency and scope of reviews, in coordination with Underwriting, and incorporation of results into business actions.
Identifies and responds to emerging issues in the insurance, regulatory or legal climates. Partners with appropriate leadership to determine courses of action and develops and executes plans to meet objectives.
Fosters an organizational culture that inspires ownership, innovation, collaboration, and strong business partner relationships.
Reviews, modifies and creates a series of consistent key performance indicators and reports for actuaries, product manager, and regional underwriting leadership
May perform additional duties as assigned.
Reporting Relationship
Will report to EVP and Chief Actuary
Skills, Knowledge & Abilities
Mastery in diverse disciplines, i.e., actuarial science, economics, finance, and statistical modeling and comprehensive understanding of critical issues in other related areas.
Advanced communication, collaboration, and business partner relationship skills which are critical to building consensus across area of influence (external and/or internal relationships), team and/or matrix environment.
Demonstrated ability to drive transformational change across large organizations.
Proven ability to translate complex actuarial and analytical insights into clear, actionable guidance for underwriting, product, and senior leadership, enabling timely pricing and portfolio decisions.
Demonstrated experience incorporating diagnostics and information from a variety of sources in to actuarial judgment and work product.
Superior leadership and management skills demonstrating integrity and professionalism.
Ability to influence and drive results by identifying and resolving significant problems within scope of responsibility.
Extensive level of knowledge of the insurance industry, products and services, and key dynamics of loss cost drivers.
Knowledge of AI techniques and business-related software.
Education & Experience
Bachelor’s degree in Mathematics, Actuarial Science or related field required. Master’s Degree in related field preferred.
Actuarial Fellowship (FCAS) designation is required.
Typically a minimum of 15 years of related work experience with 10 years of people leadership experience in building, managing, and developing high-performing teams.
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In certain jurisdictions, CNA is legally required to include a reasonable estimate of the compensation for this role. In District of Columbia,California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, New York and Washington, the national base pay range for this job level is $247,000 to $392,000 annually. Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location. CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals. For a detailed look at CNA’s benefits, please visit cnabenefits.com.
CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contactleaveadministration@cna.com.
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