Hanover Insurance Group, Inc. Worcester , MA 01601
Posted 2 months ago
For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.
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
Seeks to improve processes, constantly seek to learn, apply new techniques, challenge others and themselves to find a better way
Relationship Building
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
CAREER DEVELOPMENT:
It's not just a job, it's a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you - at every level - to grow and develop.
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.
Benefits include:
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
EEO statement:
The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.
Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law."
As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: HRServices@hanover.com and include the link of the job posting in which you are interested.
Privacy Policy:
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Other details
Pay Type Salary
Required Education Bachelor's Degree
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Hanover Insurance Group, Inc.