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Director, Actuary - Global Retail Markets Actuarial Modeling & Analytics

Company: Liberty Mutual
Location: Somerville
Posted on: May 10, 2022

Job Description:

Liberty Mutual Global Retail Markets Actuarial is seeking a Director, Actuary to lead our Loss Trend Analytics team. The team of ten is responsible for performing deep dives into emerging loss trend risks for both personal and business insurance; using advanced analytical and multivariate techniques to forecast accident period frequency and severity for both Liberty Mutual and the industry; developing a strategic vision for proactive loss trend recognition and communicating the results of their work to senior management and other stakeholders. This position will report directly to the Senior Director of the US Planning & Trends team within the Modeling & Analytics Actuarial organization. The successful candidate will have excellent business judgment and influencing skills, enjoy identifying and solving complex analytical problems, be comfortable owning a critical process that receives significant visibility, have the ability to explain such work in non-technical (business) contexts, and be capable of driving change to meet the business needs of customers. Strong communication skills are essential as there will be a significant level of interaction with other functional areas (e.g., Product Management, Claims, Non-Price Predictive Modeling, Reserving, Liberty Mutual Investments and Global Risk Solutions Actuarial). Responsibilities:

  • Oversee in-depth analytical analyses, including the use of multivariate approaches and internal and external data sources, to explain historical frequency and severity and forecast future loss trends
  • Stay current on forces that could impact loss trends today or in the future (e.g., unemployment rate, used car prices, property materials, medical inflation, distracted driving, social inflation)
  • Own the analysis and selection of projected loss trends, along with communication of risks and uncertainties, for the upcoming plan years, consulting with stakeholders to incorporate relevant perspectives and understand drivers of differing viewpoints across the broader Liberty Mutual organization
  • Liaise with Trend Monitoring & Reporting team to identify areas for emerging trend deep dives
  • Collaborate with cross-functional areas such as Product and Claims, as well as across business units, to understand and isolate various drivers of loss trends for all GRM US business. For macroeconomic drivers, meet with Investments to enhance our understanding of and align on the external environment
  • Develop advanced analytical and intermediate modeling skill sets of team members
  • Support the development of the global loss trend and inflation narrative by working with the West and East Regional Actuarial teams, local teams and Product Economics as they develop loss trend analytics in their markets, as well as share knowledge and best practices
  • Create a culture of innovation to build and enhance models, analysis, and tools, as well as create efficiencies in our processes
  • Model inclusiveness by living our Values, fostering an inclusive culture, and proactively seeking out all forms of diversity
  • Develop talent by building and elevating capabilities within the team, including development and talent evaluation and forming resilient teams that can attract talent with wide backgrounds that contribute to diversity of thought
    • Fellowship in the Casualty Actuarial Society (FCAS) designation required, or comparable actuarial education/designation combined with relevant experience.
    • Progressively more responsible experience in an actuarial role; in addition to 2+ years management experience.
    • Advanced analytical and problem-solving skills, including familiarity with multivariate techniques (generalized linear models and time series models ideal).
    • Strong organizational skills and ability to adapt well to the changing needs of the organization.
    • Exceptional ability to exchange ideas and convey complex information clearly and concisely, both verbally and in writing, to all levels of management.
    • Proven ability to lead and drive projects and assignments to completion through others, and effectively engage and develop talent.
    • Sound knowledge of actuarial techniques and standards, as well as other business operations including finance, product management, and claims.
    • Solid interpersonal and communication skills required to establish and build effective relationships within and outside the organization.
    • Demonstrated commitment to Liberty's Values, including a focus on continuous improvement and creating a culture of diversity, equity, and inclusion.At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That's why we provide an environment focused on openness, inclusion, trust and respect. Here, you'll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession. We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more, please visit Liberty Mutual has proudly been recognized as a "Great Place to Work" by Great Place to Work US for the past several years. We were also selected as one of the "100 Best Places to Work in IT" on IDG's Insider Pro and Computerworld's 2020 list. We have been named by Forbes as one of America's Best Employers for Women and one of America's Best Employers for New Graduates-as well as one of America's Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.

Keywords: Liberty Mutual, Somerville , Director, Actuary - Global Retail Markets Actuarial Modeling & Analytics, Executive , Somerville, Massachusetts

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