VP and Lead Actuary at The Hanover Insurance Group in Worcester, MA, USA

Job description

• Our Commercial lines team is seeking a Vice President and Lead Actuary to join our growing team in Worcester, MA, Windsor, CT, or remote work location.
• The VP and Lead Actuary will lead all aspects of the actuarial practice for The Hanover’s Core Commercial Lines portfolio. Help shape the business strategy of the Core Commercial businesses of the company and solve problems and initiate solutions in the face of ambiguity.
• Responsible for actuarial, data science, and integration teams driving enhanced pricing sophistication, portfolio management, rate development and execution, third party data integration, competitive intelligence and other activities in support of sustained profitable growth.
• Share ownership and accountability for the profitability of all Core Commercial lines of business and aggregate business unit performance.
• Responsible for providing counsel to senior management and business leaders on the appropriate course of action for Core Commercial as a member of the business leadership teams.
• Represents the organization to both internal and external audiences.

Responsibilities

• Participate in strategy development for Core Commercial businesses.
• Accountable for the effective implementation of business strategies.
• Proactive monitoring of trends in results and profitability by line of business and/or product at a granular level across the portfolio (at a minimum state/industry/business unit).
• Provide guidance and drives execution of filing adequate manual rates in all lines and jurisdictions, and policy/account level guidance on collected price.
• Drive continuous improvement and execution of actuarial and data science processes, models, and methods.
• Responsible for driving efficiency and effectiveness of operations, anticipating and managing unanticipated situations as appropriate.
• Present findings and recommendations to customers with the ability to influence and drive to decisions and partner effectively to facilitate implementation and execution.
• Partner with internal and external clients to establish and achieve corporate and business function priorities and goals.
• Collaborate with Actuarial and Analytics Leadership team members to cultivate a community that fosters actuarial development and state of the art data science expertise.
• Actively collaborate with technology, data science, and data partners on governance and compliance matters.
• Leverage AI capabilities and automation to optimize productivity and achieve optimal outcomes across the business function.
• Responsible for performance and compensation management for team.
• Accountable for financial budget and metrics for applicable function.

Requirements

• Bachelors Degree or higher in a relevant technical field
• 10+ years of technical experience, including a minimum of 10 years in management
• FCAS Designation required.
• Advanced written and verbal communication skills.
• Ability to explain complex actuarial and data science concepts to business partners.
• Knowledge and understanding of unit/corporate strategy, financial goals, and business and industry trends.
• Proven success working in a matrixed organization and across different businesses and functional areas.
• Demonstrated knowledge of all techniques used to model various assumptions.
• Expertise in data, modeling, and monitoring in support of business objectives.
• Experience in navigating state regulatory environments.
• Able to apply and interpret company policies and procedures.

Skills

Required

• FCAS Designation

Benefits

• We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.
• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits
• The target hiring range for this role may vary based on geographic location and other factors, including merit or performance, demonstrated proficiency, skills for the role, education, travel requirements, and experience. Additional compensation may include an annual bonus (which could take the form of a general bonus, sales incentive, or short-term incentive), long-term incentive or spot recognition awards. The posted range reflects our ability to hire at different position titles and levels depending on background and experience.