Actuarial Associate Director, Excess Casualty

New York / Atlanta / Chicago

Who we are:

American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.

Get to know the business:

General Insurance is a leading provider of insurance products and services for commercial and personal insurance customers. It includes one of the world’s most far-reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.

As an actuary at AIG, you will be challenged and encouraged to reach your greatest potential. Every day will bring new opportunities to stretch your analytical and problem-solving skills as you improve how we predict and mitigate risk. Our Financial Actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG’s major regulated and rated insurance operating companies globally. Portfolio Analytics and Pricing Actuaries support AIG’s businesses and are responsible for technical pricing, product development analytics and performance measurement. They collaborate with Marketing, Operations and Financial Management.

About the role:

We are seeking an actuarial professional with industry expertise to be a key leader on the Retail Excess Casualty team.  The Actuarial Associate Director’s main responsibility will be managing portfolio of individual account pricing reviews while partnering with the business and support teams on strategy, risk selection, pricing, and portfolio construction.  They will also partner with other pricing actuaries in implementing best practices analytical techniques, catastrophe modelers to incorporate results into pricing and quantify portfolio risk, and reserving actuaries in assessing the impact of loss trends and claims emergence.  The Actuarial Associate Director will report into the Head of Actuarial, Excess Casualty.

Key Responsibilities:

• Transactional actuarial associate director will be responsible for managing a portfolio of individual account pricing reviews for multiple lines of business within US for AIG. The lines of business will include Excess General liability and Excess Commercial auto, with some ancillary exposure to professional liability for primary, excess and umbrella coverages. Pricing responsibilities include communication of actuarial pricing to underwriters, clients and brokers. Occasional business travel may be required. As an individual contributor and a manager, you will be expected to actively manage the deal pipeline with Underwriters, while delivering within tight deadlines for yourself and the team. Participate in peer reviews and impact analysis of default parameters within the pricing tools Lead ad-hoc projects around different initiatives of our group. Communicate results of the projects to a variety of technical and non-technical audiences across the organization. Identify areas of improvement in current pricing tools and collaborate with other data/IT teams to champion & lead improvement and enhanced capture of metrics from the current tools. The candidate may be expected to use their programming skills as required. Leverage their thought leadership and consulting skills to propose strategies that lead to improved profitability of the portfolio Establish strong working relationship with management from UW & reserving; Partner with key internal business partners from a variety of functional areas to ensure the success of UW & pricing strategies.
• Responsible for the success of the Retail Excess Casualty team in meeting their goals and objectives, including staff development and project prioritization.
• Work closely with underwriting to develop pricing and underwriting strategies and identify pockets of opportunity for profitable growth as well as profitability-challenged areas.
• Develop analytical tools to help underwriters assess the risks posed by insureds, aligning the pricing framework across the different underwriting platforms and business classes written in Retail Excess Casualty operations.
• Work closely with reserving actuaries to understand sources of reserve development and ensure appropriate recognition of pricing and underwriting actions impacting those estimates.  Ensure underwriters are informed of and considering trends observed in analyses.
• Provide recommendations to rating methodologies, parameters and tools to improve accuracy of technical pricing reflecting latest market and economic conditions and product offerings.
• Organize proper training and support for pricing tools and strategies for underwriters.
• Monitor trends, relevant industry dynamics, & model enhancements; effectively communicate impact to underwriters and actuarial management.
• Ensure that all pricing and other actuarial requests are managed and completed in a timely and professional manner, monitoring adherence to appropriate procedures and methodologies.

Qualifications:

• The candidate should possess strong technical and business expertise with the ability to build sustainable, collaborative relationships, influence business stakeholders, and lead, motivate and gain commitment from key constituents.
• Bachelor's degree in Actuarial Science or related field.

Additional requirements include:

• Fellow or Associate of the Casualty Actuarial Society with 5+ years of commercial lines actuarial pricing experience, preferably with significant commercial pricing experience.
• Exceptional communication skills, including ability to develop and present clear and concise analysis and recommendations to senior management.
• Ability to dive into technical and execution level details, do hands-on work, connect the dots while thinking strategically and serve as strong thought partner of cross functional leaders.
• Willing and able to continuously learn and adapt in a dynamic and fast changing environment. 
• Comprehensive awareness of the business, regulatory environment, competitors, market cycle, technology and legislative trends.
• Not afraid to take charge of a situation and can overcome resistance to change, taking unpopular stands when necessary.
• Timeliness and attention to detail.

• For positions based in New York City, the base salary range is $112,000 - $140,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: AIG Benefits Overview.

Veterans are encouraged

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A look at our Benefits

We're proud to offer a range of employee benefits and resources that help you protect what matters most - your health care, savings, financial protection and wellbeing. We provide a variety of leaves for personal, health, family and military needs. For example, our "Giving Back" program allows you to take up to 16 hours a year to volunteer in your community. Our global mental health and wellness days off provide all colleagues with a paid day off to focus on their mental health and wellbeing.

We also believe in fostering our colleagues' development and offer a range of learning opportunities for colleagues to hone their professional skills to position themselves for the next steps of their careers. We have a tuition reimbursement program for eligible colleagues to enhance their education, skills, and knowledge in areas that relate to their current position or future positions to which they may transfer or progress.

We are an Equal Opportunity Employer

To learn more please visit: https://www.aig.com/about-us/diversity-equity-and-inclusion

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities.  If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to candidatecare@aig.com.   Reasonable accommodations will be determined on a case-by-case basis.

AC - Actuarial

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

National Union Fire Insurance Company of Pittsburgh, Pa.