Manager, Actuarial and Analytics – Commercial Auto, Benchmark

Key Skills

Actuarial , Analytical and Problem solving, Data science techniques, Effective communication skills, Leadership Skill, Microsoft Office suites, Python Programming, Sales, SAS, SQL

Job Description

What Is the Opportunity?

In Business Insurance Actuarial and Analytics, we deliver tailored analytics and innovative data science solutions that influence decisions and enable superior results. We have an inclusive culture where everyone feels that they belong, can be authentic, are valued, respected, empowered and part of our success. We see strength in the uniqueness that each of us contributes to creating innovative solutions and improving business outcomes.

Join the growing Actuarial Product Auto team to assist with Benchmark Pricing models, processes, tools, and analytics for all of Business Insurance and support for our new, proprietary, best in class rating plan.

What Is the Opportunity?

The Manager, Actuarial and Analytics is an analytic leadership role that encompasses the shared responsibility of project and strategic execution with actuarial, analytic and business partners, in addition to assigned operational assignments which may include reserving, rate-making, pricing, planning/forecasting, project management and research. The individual in this role is expected to be an influential member of project teams, providing analytical insights and recommendations to leadership and Business unit partners. The Manager, Actuarial and Analytics will work on complex assignments requiring specialized knowledge and expertise in breadth and/or depth in one or more of the following areas: Actuarial and/or research methods, Advanced statistical analyses, Solid business knowledge, Line of Business knowledge.

What Will You Do?

As a crucial member of our team, you will execute Benchmark Pricing Models for Commercial Auto in Business Insurance. Your responsibilities include developing and implementing updates for Benchmark models, rating plans, and pricing strategies—contributing directly to the company’s objectives for profitability and growth. This position offers a unique opportunity for collaboration across various enterprise disciplines, fostering relationships with business unit actuaries, data scientists, enterprise product managers, underwriters, and systems personnel at Travelers. Our Benchmark Pricing tools form the backbone of our Commercial Auto product, and your analytical skills will unlock their full potential. In addition, you’ll be at the forefront of progress—updating models, researching enhancements, answering questions, and collaborating with our technical partners to facilitate improvements. To thrive in this role, we seek an individual with outstanding communication, analytical, and problem-solving skills, combined with meticulous attention to detail. Your responsibilities will span routine projects to leading complex research and rate plan management initiatives.

Strategy:

• Participate in a lead role in the successful execution and completion of assigned strategic initiatives and projects.

• Develop solutions to resolve challenges of an initiative.

• Propose change and innovation in order to improve project team performance and timelines.

• This position will often participate on cross-unit initiatives and may participate on Enterprise initiatives.

Operational:

• Independently perform actuarial and analytic analyses to solve business problems and apply judgment appropriately.

• Support and drive components of unit initiatives. Begin to support broad department initiatives.

• Take accountability for process efficiencies within assignments.

• Begin to make proposals in accordance with department practices.

• Provide support as necessary for initiatives across the Enterprise within the scope of influence.

Communication:

• Communicates analysis, project results, and other business initiatives to peers and business partners.

• Communicates technical topics to non-technical audience within the primary working group with guidance from manager.

• Actively participates and may lead group discussions at the unit level.

• Creates formal written communication such as memos or presentations with guidance and peer review.

• Networks and collaborates on ideas and challenges.

Talent:

• Retention and development of assigned staff.

• Execute and communicate talent development processes, including performance and personal development goals.

• Talent assessment recommendations.

• Performance management.

• Mentor less experienced talent across the Enterprise.

• Onboard new employees and interns in unit.

• Support various training and skill development initiatives across assigned Segment and the Enterprise.

• May provide support for recruiting efforts and candidate talent assessment efforts.

• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• College degree in STEM related field.
• Associate Actuarial Credential preferred.
• Strong PC skills (MS Office) and programming skills (eg. SQL, SAS, Python).
• 4+ years of quantitative analysis experience preferred.
• Strong understanding of insurance products and industry.
• Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
• Demonstrated ability to manage projects.

Leadership:

• Take ownership of assigned projects and meetings, make recommendations and presents results to business partners.
• Proficient in Leading Self, exhibiting self-awareness while also effectively managing ambiguity.
• Initial development of Leading Others, including mentoring/training team members.
• Initial development of Leading the Business, including actively supporting business goals and being a positive member of the Enterprise culture.

Business Acumen:

• Has an in-depth understanding and knowledge of a few basic business drivers and disciplines such as: underwriting, products, reinsurance, distribution, sales, operations, risk control, claim, and financials.
• Able to effectively utilize this business knowledge in developing analytic solutions.
• Has a foundational perspective of the primary industry and developing trends such as: technology, analytic methodology, products and performance of competitors.
• Is familiar with a couple other key business drivers and disciplines.

Relationship Management:

• Proactively build and own professional business relationships across the BI&AA community across the Enterprise.
• Generate and solicit ideas, and begin to build consensus with guidance.
• Aware of potential conflict and begins to addresses with guidance.
• Begin to set and manage expectations with business partners for small projects.

Quantitative Analysis:

• Evaluate and use appropriate data, tools and methods.
• Able to perform analytics independently, can effectively plan next steps within analyses with little oversight.
• May perform technical review of team work product.
• Able to contribute on more complex analytical work with guidance.

What is a Must Have?

• Bachelors Degree or equivalent experience required.
• 2 years of experience in quantitative analysis required.

What Is in It for You?

• Health Insurance: Employees and their eligible family members – including spouses, domestic partners, and children – are eligible for coverage from the first day of employment.
• Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
• Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
• Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you’re eligible for five free counseling sessions with a licensed therapist.
• Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We believe that we can deliver the very best products and services when our workforce reflects the diverse customers and communities we serve. We are committed to recruiting, retaining and developing the diverse talent of all of our employees and fostering an inclusive workplace, where we celebrate differences, promote belonging, and work together to deliver extraordinary results.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.