Actuarial Director
Ryan Specialty
Actuarial Director
Ryan Specialty
full-time
Posted on:
Location Type: Office
Location: Chicago • California, Illinois, Maryland, Pennsylvania • 🇺🇸 United States
Visit company websiteSalary
💰 $208,000 - $260,000 per year
Job Level
Lead
About the role
- Develops and implements strategies for risk assessment and management and evaluates the potential impact of various risk factors on the company’s financial position.
- Translates the strategic vision of the executives into actionable long-term and short-term plans for the insurance business, ensuring teams and functions are aligned across the organization.
- Communicates actuarial findings and recommendations to senior management, stakeholders, and regulatory authorities presenting complex concepts in an understandable manner.
- Leads the preparation and review of financial and statutory reports ensuring compliance with regulatory requirements and accounting standards.
- Oversees the actuarial reserving process and ensures accurate and adequate reserves are set to overcome any liability arising out of claims; certifies that the reserves used in financial statements are sufficient.
- Reviews and authorizes insurance premium and coverage structures and recommends changes; prepares insurance filings and responds to filing queries.
- Collaborates with product development teams to design and price insurance products by conducting pricing analyses and provides recommendations to optimize profitability.
- Supports the development of innovative insurance products within the underwriting portfolio, leveraging market insights, customer needs, and emerging industry trends.
- Oversees strategic initiatives and ensures data driven decision making, operational excellence and improved client retention in alignment with Ryan Specialty's vision and objectives.
- Manages the team of actuarial professionals, sets individual and team goals aligned to the overall business goals, creates the annual budget and champions cost savings initiatives.
- Maintains, expands, and applies knowledge of the insurance industry, actuarial trends, market conditions, and competitor information.
Requirements
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or related field with 12-15 years of related experience.
- 5+ years of management experience.
- Fellow of the Casualty Actuarial Society (FCAS) or Member of American Academy of Actuaries (AAA) is preferred.
- Knowledge of the insurance industry, actuarial trends, market conditions, and competitor information.
- Experience with actuarial reserving process and certifying reserves used in financial statements.
- Experience in insurance pricing, filings, and responding to filing queries.
- Experience collaborating with product development teams to design and price insurance products.
- Experience leading actuarial teams, setting goals, and creating annual budgets.
- Ability to communicate actuarial findings to senior management, stakeholders, and regulatory authorities.
Benefits
- Comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals.
- Paid time off for company holidays, vacation, sick and personal days.
- Paid parental leave.
- Mental health services.
- Full-time roles are eligible for bonuses and benefits.
- Access to Ryan Specialty Total Rewards information and employee benefits resources.
- Reasonable accommodations for individuals with disabilities to participate in application, interview, and employment processes.
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
risk assessmentactuarial reserving processinsurance pricingfinancial reportingstatutory reportingdata analysisbudget creationcost savings initiativespricing analysisinsurance filings
Soft skills
communicationleadershipcollaborationstrategic planningteam managementgoal settingoperational excellenceclient retentionproblem solvingpresentation skills
Certifications
Fellow of the Casualty Actuarial Society (FCAS)Member of American Academy of Actuaries (AAA)