What are the responsibilities and job description for the Vice President, Actuarial & Underwriting, SHS position at BCS Financial Corporation?
Position Overview
The Vice President, Actuarial & Underwriting, Supplemental Health Solutions (SHS) position will support the business strategy to drive profitable growth for BCS’ SHS business segment.
This role will lead the development and implementation of sound actuarial and underwriting strategies in support of business development and product compliance for SHS. Product responsibilities include international healthcare (BCBS Global Solutions), group voluntary (accident indemnity, hospital indemnity, critical illness), fixed indemnity, life, and disability.
A key responsibility of this role will be to lead BCS’ strategic growth initiatives by working closely with our business partner for BCBS Global Solutions.
This position will report to the Chief Actuary.
Essential Elements
BCBS Global Actuarial Leader/Program Management- Provide strategic oversight and partnership to the BCBS Global Team in support of program growth.
Resource Management- Review operational opportunities to structure the team processes, workflows and staffing model to plan for SHS growth objectives.
Product Development - Partner with the BCBS Global and the BCS Product Development teams to ensure sound risk management and rating of products at the outset. This includes the analysis and structuring of new products to achieve the expectations of long-term growth and profit goals.
Rating Methodology - Establish and document new business and renewal rating bases that will ensure profitable underwriting results. Develop a manual rate and factor review process in support of rating.
Underwriting Oversight – Provide oversight for the underwriting of BCS’ Supplemental Health Solutions (SHS). Lead in the development and sourcing of rating tools and applications that support the BCS and BCBS Global underwriting teams. Refine existing underwriting guidelines and manage changes and adherence to the guidelines.
Business Development – Partner with sales, marketing, BCBS Global executive leadership team and other strategic partners in support of new business opportunities to secure profitable revenue and distribution streams.
Market Analysis - Assess competitiveness of existing rating structures, product and underwriting criteria.
Rate Filings - Manage the regulatory compliance and the timely approval of state rate filings and actuarial memoranda/certifications.
Reserving – Ensure reserving methodologies and models for various lines of business are in place that comply with relevant actuarial standards and regulatory requirements.
Forecasting and Business Planning - Support financial forecasts, budgeting, capital management and business plan projections. Provide input to business plan with the goal of profitable underwriting results and future business planning. This will include the review of business segment renewals including accurate management reporting of experience results.
Talent Development – provide mentorship and educational opportunities for BCS actuarial/underwriting and BCBS Global staff.
Requirements
Education and Certifications
Bachelor’s Degree in Mathematics or Business required
Associate or Fellow of the Society of Actuaries designation required
Member of American Academy of Actuaries required
Continuing education relating to the maintenance of professional credentials (compliant status) preferred
Desired Experience
10 years of insurance business experience
International healthcare and travel products
Fixed indemnity, hospital Indemnity, accident indemnity, and critical illness products
Life/disability insurance experience
Travel Required
Travel to industry conferences, Oakbrook home office, BCBS Global headquarters, and various client visits (10-20% of time).
BCS Core Competencies
Action Oriented, Courage, Informing, Learning on the Fly, Customer Focus, Drive for Results
Salary : $200,000 - $230,000
If your compensation planning software is too rigid to deploy winning incentive strategies, it’s time to find an adaptable solution.
Compensation Planning
Enhance your organization's compensation strategy with salary data sets that HR and team managers can use to pay your staff right.
Surveys & Data Sets
Position Overview The Staff Accountant is responsible for preparing monthly and quarterly journal entries for gross and ceded underwriting activity for var...more
Position Overview The Underwriting Intern will participate in BCS Financial Corporation’s 6-9 month Internship program. The intern will work in within BCS’...more
Position Overview The Sales Enablement Specialist is an entry-level role responsible for providing operational, analytical, and coordination support to the...more
Position Overview The Underwriting Analyst provides critical analytical and operational support to Stop Loss Underwriters by ensuring underwriting data, ri...more
Not the job you're looking for? Here are some other Vice President, Actuarial & Underwriting, SHS jobs in the Oakbrook Terrace, IL area that may be a better fit.
We don't have any other Vice President, Actuarial & Underwriting, SHS jobs in the Oakbrook Terrace, IL area right now.
Position Summary As a Senior Actuarial Analyst on the Ryan Specialty Underwriting Managers Pricing team, you will play a critical role in advancing rating ...more
Guarantee Trust Life Insurance CompanyGlenview, IL
Since 1936, Guarantee Trust Life Insurance Company (GTL) has offered cutting-edge insurance solutions and personalized service for our policyholders and di...more