Actuarial Services Director jobs in Worcester, MA
Actuarial Services Director directs the activities of an organization's actuarial function. Oversees the analysis and evaluation of potential risks to determine the financial impacts of new or existing insurance plans. Being an Actuarial Services Director develops policies, procedures, and formulas to guide statistical analysis and actuarial research and evaluate the likelihood and financial impact of various risks. Designs processes and guidelines to ensure regulatory compliance of products and financial operations. Additionally, Actuarial Services Director leads the design and development of insurance products by evaluating and approving insurance rates, premium levels, and rating systems and structures. Oversees the preparation of actuarial reports, financial statements, and regulatory filings and develops financial budgets, forecasts, and other financial projections. Researches and selects major rating assumptions to support accurate statistical analysis and evaluates the effectiveness of existing formulas. Evaluates product performance against established profitability targets and recommends modifications. Applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Requires a bachelor's degree. May require Associate of Society of Actuaries (ASA). May require Fellow of Society of Actuaries (FSA). Typically reports to senior management. The Actuarial Services Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. To be an Actuarial Services Director typically requires 5+ years of managerial experience. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. (Copyright 2024 Salary.com)
Recently Added Actuarial Services Director jobs
Actuarial Director - CL
- The Hanover Insurance Group
-
Worcester, MA
FULL_TIME
- Our Commercial Lines Actuarial department is seeking an Actuarial Director for the Business Owners line of business to join our growing team in Worcester, MA Corporate Headquarters or remote work arrangement. This is a full time, exempt position. POSITION SUMMARY: The Actuarial Director role is responsible for managing a team of pricing actuaries focused on the Business Owner’s (BOP) line of business, reporting directly to the Assistant Vice President Actuary of BOP and CPP. The BOP book is $500 Million of annual premium and the Hanover has recently moved onto a new BOP product for both new and renewal business. Additionally, there is a legacy product slated to convert onto the new product in the near future. The Actuarial Director of the BOP line provides overall management and technical oversight to a team of analysts with varying degrees of experience, as well as being expected to complete their own hands-on assignments. The manager partners with other actuaries and business/field leaders to support profitable growth across the commercial organization. Direct responsibilities include managing rate reviews with an eye towards process improvement, forecasting IBNR as part of the CLAY process, monitoring the new BOP Advantage product, and maintaining the existing BOP legacy product ahead of conversion. This is a Full-time, Exempt role. IN THIS ROLE, YOU WILL: Manage and lead a team of actuarial analysts, ensuring execution of deliverables alongside personal growth of entire team Accountable for executing state level rate reviews Lead the forecasting of IBNR balances in CLAY Profitability framework for BOP line Monitor the profitability and communicating of trends to executive leadership Responsible for continuous review and improvement of operations and managing unanticipated situations Leverage predictive analytics to monitor new BOP product Partner with Data Science to enhance the BOA tiering model Partner with field and business leaders across the Commercial organization to build the credibility of actuarial department and consult on strategic direction Influence and negotiate the appropriate actions to support strategic goals of the organization Capable of testifying at a rate hearing if necessary Responsible for communicating results/issues to upper-level management Responsible for performance and compensation management for team May lead or participate in community recruiting and/or training activities WHAT YOU NEED TO APPLY: Bachelor’s Degree or higher in a relevant technical field Seven years of technical experience in multiple LOB and/or actuarial disciplines such as pricing, reserving or advanced analytics Experience with predictive modeling preferred Management experience preferred ACAS required, FCAS preferred Advanced communication skills Advanced skills using Microsoft Office, including Excel and SQL Intermediate programming skills, including the ability to develop and automate processes Demonstrated knowledge of all techniques used to model various assumptions Able to apply and interpret company policies and procedures Able to direct activities of others, motivate and develop staff Growth Mindset – Embraces a creative approach and a changing environment. Seeks to improve processes, constantly seek to learn, apply new techniques, challenge others and themselves to find a better way Relationship Building - Understands the importance of developing and maintaining cooperative relationships with others at all levels of the organization by making others feel their concerns and contributions are important. Builds positive relationships with others to accomplish organizational goals. Influencing Others - Communicates ideas or positions in a persuasive manner that build support, agreement, or commitment. Takes actions that directly or indirectly influence others to create buy-in, gain trust, and motivate actions in others or win concessions without damaging relationships. Results Orientation - Excited by challenging goals and a desire to exceed standards of excellence. Exceeding the standard can include challenging personal goals, organization's standards, or current industry standards. Exhibits a true sense of competitiveness and a drive for results. Has a strong desire to win in the most challenging of circumstances and the fortitude to take calculated risks to achieve personal objectives and goals, organization's standards, or current industry standards. Talent Management - Proactively fosters building, mobilizing and evaluating the organizations' human assets. Establishes performance goals and measures in order to accomplish organizational goals. Authorizes individuals to take initiative and make expedient, practical decisions that impact the performance or success of an event or project. Shares knowledge, skills or expertise with others; coaches others. Encourages and rewards learning, growth, etc., in others. Supports continual development of staff through assignments, coaching, and training. Business Enterprise Knowledge - Understands how one's own function adds value to the organization and to customers. Makes decisions and recommendations clearly linked to the organization's strategy and financial goals, reflecting an awareness of external dynamics. Demonstrates awareness by providing clear explanations for actions taken relative to customer requirements, needs, and industry trends. Strategic Thinking - Examines issues and plans with a long-term perspective. Able to critically evaluate external and internal factors. Change Management - Designs and transforms an organization based on assumptions of human capability and resiliency. Understands the basic human patterns that operate during change, and effectively focuses the organization's capability on an effective transformation. Focuses and energizes a group to accomplish change together and holds them accountable to common goals. Decisiveness - Makes decisions by quickly assessing the scope of an issue and providing options leading to its closure. Determines appropriate options based on the situation.
- 20 Days Ago
Child, Adolescent and Young Adult Services- Assistant Program Director
- Open Sky Community Services
-
Worcester, MA
FULL_TIME
- SalaryUSD $75,000.00/Yr. Description and Responsibilities Open Sky offers a comprehensive range of mental health services for younger children and adolescents. By combining the use of evidence-based t...
- 7 Days Ago
Assistant Director of Nursing Services
- SALMON Health and Retirement
-
Westborough, MA
FULL_TIME
- Beaumont Rehabilitation and Skilled Nursing Center at Westborough is seeking an Assistant Director of Nursing Services to work in cooperation with the Director of Nurses and the Clinical Services Dire...
- 18 Days Ago
Assistant Director, Counseling Services
- Worcester Polytechnic Institute
-
Worcester, MA
FULL_TIME
- JOB TITLE Assistant Director, Counseling Services LOCATION Worcester DEPARTMENT NAME Student Development & Counseling DIVISION NAME Worcester Polytechnic Institute - WPI JOB DESCRIPTION SUMMARY The As...
- 22 Days Ago
Director of Social Services
- American Medical Associates
-
Leominster, MA
FULL_TIME
- Director of Social Services Responsibilities of the Director of Social Services-Nursing Home: Plans and directs a comprehensive social services program which provides support services for residents an...
- 22 Days Ago
Director of Nursing Services
- CMR Recruiting
-
Fitchburg, MA
FULL_TIME
- Director of Nursing Services Compensation: $ 110,000- $ 130,000 a year Job Type: Full Time position Are you passionate about making a difference in others' lives? Do you pride yourself on your positiv...
- 22 Days Ago
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0 Actuarial Services Director jobs found in Worcester, MA area
Worcester, MA - Field Inspector - Insurance Loss Control
- H & S Loss Control Inspections
-
Worcester, MA
- Qualified Field Inspectors for Insurance Loss Control are needed in your area! Immediate placement available. Pay: We pa...
- 4/26/2024 12:00:00 AM
Compliance Specialist
- Astellas Pharmaceuticals
-
Westborough, MA
- Do you want to be part of an inclusive team that works to develop innovative therapies for patients? Every day, we are d...
- 4/26/2024 12:00:00 AM
REMOTE: Medical Director, Utilization Management and Medical Policy
- Evry Health
-
Boston, MA
- About the Role Evry Health is hiring a tech-savvy Medical Director to lead medical policy and utilization management. As...
- 4/24/2024 12:00:00 AM
Marketing Underwriter- HMIG
- Highmark Health
-
Providence, RI
- Company : HM Insurance Group Job Description : JOB SUMMARY This job maintains existing business, generates new business,...
- 4/24/2024 12:00:00 AM
Actuarial Pricing Director
- Berkley
-
Boston, MA
- Company Details: Berkley Mid-Atlantic Insurance Group is a member of W. R. Berkley Corporation, a Fortune 500 company th...
- 4/24/2024 12:00:00 AM
Insurance Agent
- American National
-
Worcester, MA
- Description What do you think an American National insurance agent is? We are entrepreneurs. We are ambitious. We are so...
- 4/24/2024 12:00:00 AM
Personal Lines Account Executive
- World Insurance Associates LLC
-
Worcester, MA
- Summary World Insurance Associates is a unique insurance organization offering top products and services from major prov...
- 4/23/2024 12:00:00 AM
Senior Property Claims Adjuster - Eastern Massachusetts
- Preferred Mutual Insurance Company
-
Worcester, MA
- Current job opportunities are posted here as they become available.Senior Property Claims Adjuster - Eastern Massachuset...
- 4/23/2024 12:00:00 AM
About Worcester, Massachusetts
Worcester has a total area of 38.6 square miles (100 km2), 37.6 square miles (97 km2) of land and 1.0 square mile (2.6 km2) (roughly 2.59%) of water. Worcester is bordered by the towns of Auburn, Grafton, Holden, Leicester, Millbury, Paxton, Shrewsbury, and West Boylston.
Worcester is known as the Heart of the Commonwealth, because of its proximity to the center of Massachusetts. The city is about 40 miles (64 km) west of Boston, 50 miles (80 km) east of Springfield, and 38 miles (61 km) northwest of Providence, Rhode Island.
The Blackstone River forms in the center of Worcester by the conflue...
Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia
Income Estimation for Actuarial Services Director jobs
$311,035 to $436,940
Worcester, Massachusetts area prices
were up 1.6% from a year ago
were up 1.6% from a year ago
What does an Actuarial Services Director do?
Actuarial Services Director in Spokane, WA
Responsible for stat and federal filings including actuarial certification.
December 28, 2019
Actuarial Services Director in Lafayette, LA
JOB SUMMARYThe Manager of Actuarial Services will serve under the general direction of the VP of Finance and is responsible for supervising, gathering and evaluating membership claims and premium data for ratemaking, budgeting, benefits, trends, provider networks, etc.
December 26, 2019
Actuarial Services Director in Grand Forks, ND
Applying probability and statistics to the practical problems of insurance, our actuarial team performs a variety of duties, including calculating the cost of premiums and policy values, preparing statistical studies, and forecasting financial results.
February 20, 2020