Senior Managing Actuary, Trend & Performance Insights
Company: Liberty Mutual Insurance
Posted on: March 14, 2023
Partners with the Head of Underwriting Performance to design,
implement and operate a mechanism to drive the business toward GRS
performance objectives and achievement of our $1 billion
underwriting profit opportunity.Build and advance the Actuarial
capabilities to identify drivers of and actionable insights into
our underwriting performance.Develop capabilities to have a robust
house view on trend, profitability and other actuarial areas. Works
with the Chief Actuary, Planning, Performance & Portfolio
Management to design and build out a high performing team.Strategy
- Partners with the Head of Underwriting Performance to create a
standardized approach and process for underwriting performance
- With Chief Actuary, Planning, Performance & Portfolio
Management, leads and creates development of Actuarial strategy
around performance management.
- Works with counterparts to build, maintain and monitor the
framework for setting underwriting Objectives and Key Results
(OKRs), including developing a GRS-wide standards for Key
Performance Indicators (KPIs) and associate metrics.
- Supports development and maintenance of a house view framework
to inform strategies and portfolio decisions, leading for Actuarial
own topics (e.g., rate and trend).Execution:
- Supports formulation of a consistent performance management
framework and process across GRS, standardizing core metrics and
visualizations and reporting cadence, as well as efforts to
roll-out and reinforce.
- With counterparts in Actuarial Planning, Performance &
Portfolio Management, determines and defines standardized metrics
and supports roll-out and adoption across segments.
- Partners to gather and synthesize underwriting data and
- Regularly aggregates and monitors business performance across
GRS segments and products, identifies risks and opportunities, and
collaborates to provide insights to senior leadership and
contributes to exchange and discussions in business performance
- Develops insight and analytics on loss trend and profitability
drivers (internal and external), formulating and regularly
communicating a house view to inform business decisions and
strategies, working to advance and innovate our capabilities.
- Establish a structure, process and cadence for reporting out on
Actuarially owned metrics and trend.
- Collaborate with cross-functional areas such as Underwiring,
Finance, and Claims, as well as across business units, to
understand and isolate drivers.
- Conducts research and analysis to identify opportunities and
support strategic initiatives.
- Develop and maintain the appropriate capabilities, tools and
processes to monitor and report results and insights at the GRS
- Create a culture of innovation to build and enhance models,
analysis, and tools, as well as create efficiencies in our
- Provides insights and guidance to actuarial and
- Acts as an actuarial thought leader on trend and related topics
for GRS.Talent Management
- Develops and nurtures key talent and supports effort to enhance
actuarial capabilities across GRS Actuarial.
- Keeps abreast of new actuarial methodologies, trends and
product/ tort reforms and other external issues.Responsibilities
- Oversees work on unusually complex cross-functional and/or
cross-organizational problems and provides solutions that are
- Develops departmental policies procedures.
- Sets vision, goals and direction of team/organization.
- Exerts organization wide influence.
- Manages the actuarial operations for the group by establishing
priorities, scheduling, and assigning work, Adjusts schedules when
necessary to meet completion dates, and assists others with
resolving complex problems while ensuring adherence to policies,
procedures, and objectives.
- Directs and performs actuarial analyses for a business segment
and determines courses of action on issues such as pricing,
reserves, or product development May oversee the preparation and
interpretation of the data used to support rate filings with state
departments of insurance.
- Initiates, manages, and/or participates in, studies that
underlie actuarial assumptions and that are designed to improve
risk selection, pricing, reserve setting, etc..
- Provides consultation to senior managers and other groups
regarding actuarial, financial, strategic, business planning or
other matters. Applies a comprehensive understanding of the
business implications and exerts significant influence over the
courses of action taken.
- Uses the objective setting and performance evaluation processes
to ensure employees understand the expectations, receive regular
feedback, and are appropriately developed and rewarded. Deals
decisively with performance and/or conduct issues using the
performance management process.
- Identifies data requirements for analysis, tool development,
reporting, and decision making. Ensures the organization uses it
effectively to reach profit and growth objectives.
Keywords: Liberty Mutual Insurance, Somerville , Senior Managing Actuary, Trend & Performance Insights, Accounting, Auditing , Somerville, Massachusetts
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