Job Description

KEY OBJECTIVE:

The AVP & Actuary role is responsible for supporting the Loss Sensitive Unit (LSU) and Construction Program (Managing General Agent) for Commercial Insurance (CI) Actuarial. This role provides support for Workers Compensation and other Casualty lines and will involve regular engagement and interaction with Underwriting, Product, and Finance teams supporting this business.

The role is based in either Philadelphia, PA or Whitehouse, NJ and reports to a VP & Actuary.

MAJOR DUTIES & RESPONSIBILITIES:

Oversee the day-to-day actuarial pricing support for CI LSU and CI Construction Program through collaboration and partnership with CI management, coordination across CI Actuarial Product teams, and managing an actuarial analyst. Tasks include -

• Establish actuarial pricing referral guidelines for LSU and Construction Program in collaboration with other CI Actuarial Product Leaders and CI management and oversee compliance
• Provide individual account pricing, including program referrals and collateral calculations
• Collaborate with various stakeholders including other Actuarial Teams, IT, and Underwriting to continuously update, maintain, and document individual account pricing tools
• Partner with the reinsurance pricing team to support treaty renewals
• Collaborate with CI management to evaluate and quantify cost and usage of Third-Party Administrators (TPA)
• Complete annual pricing studies, as well as ad-hoc pricing study requests and deep dives
• Provide inputs for annual planning process, providing loss ratio projections to support CI Management decisions and Corporate Actuarial needs
• Conduct regular portfolio reviews to understand emerging trends and partner with CI management to propose actions for consideration
• Deliver timely and informative monthly/quarterly reports to management, including price monitor and actual v. expected

Qualifications

• 8+ years actuarial experience in P&C insurance;
• Associateship/Fellowship in either Casualty Actuarial Society or equivalent international actuarial body;
• Demonstrated proficiency with actuarial pricing and/or reserving
• Experience in large account pricing and/or Casualty Construction is preferred, but not mandatory;
• Supervisory experience is preferred, but not mandatory;
• Complex analytical and problem-solving skills - ability to determine the source of a problem and find effective solutions;
• Clear organizational and documentation skills - ability to prioritize multiple competing deliverables and manage time effectively to meet scheduled due dates;
• Dynamic collaboration skills and the ability to work closely with other disciplines, including providing clear and concise verbal and written communications regarding analyses and observations to non-actuarial business partners and leaders;
• Desire to work in a fast-paced, fluid environment

The pay range for the role is $146,000 to $200,000. The specific offer will depend on an applicant's skills and other factors. This role may also be eligible to participate in a discretionary annual incentive program. Chubb offers a comprehensive benefits package, more details on which can be found on our careers website. The disclosed pay range estimate may be adjusted for the applicable geographic differential for the location in which the position is filled.

About Us

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.