What are the responsibilities and job description for the Director of Pricing position at Berkshire Hathaway Homestate Companies - Workers Compensation Division?
What We're Looking For
Berkshire Hathaway Homestate Companies has an immediate for a Director of Pricing to join its Actuarial team! This individual is responsible for integrating industry and company performance data to develop and implement pricing strategies across various regions, markets, and products within our Workers Compensation business. Additionally, this position will provide essential technical support to guide the effective use of the company’s pricing models and analytical tools.
Works closely and communicates effectively with internal and external clients, data analytics team, actuaries, underwriting, marketing, and other departmental teams to turn data into critical information and knowledge that can be used to make sound organizational decisions. Ability to present findings back to the business by exposing assumptions and validations in a way that can be easily understood by business counterparts is essential.
Essential Responsibilities And Principal Accountabilities
As a member of the Senior Leadership Team (SLT), works collaboratively with members of the SLT to actively champion enterprise initiatives, ensuring the organization’s vision, mission, goals and objectives are operationalized. Models and reinforces organizational values and behaviors in all leadership actions. Relies primarily on substantial experience, discerning judgment, and leadership skills to perform the functions of the job and achieve results in established timelines. Takes an anticipatory approach to solving problems. Ensures that employees understand their level of accountability and takes appropriate action to ensure employees fully understand roles, responsibilities and performance standards and provides ongoing feedback and support. Executes all responsibilities with professionalism and in accordance with the organization’s internal policies, as well as regulatory, financial, and ethical standards.
Qualifications
EDUCATION: Bachelor's degree in Statistics, Mathematics, Risk Management, or other related quantitative field, required.
CERTIFICATIONS/LICENSES: Fellow or Associate of the Casualty Actual Society strongly preferred. Predictive Modeling accreditation desirable.
Experience
With more than 50 years in business, Berkshire Hathaway Homestate Companies (BHHC) has grown from a regional organization to a national insurance group, offering insurance products from coast to coast. Relationships are the cornerstone of our culture, and we believe in doing the right thing. That means we invest in our business in every way possible to deliver on our mission and demonstrate that people are what powers our success. Our commitment to financial strength and integrity means our customers can rest assured that we will be there when it counts.
At BHHC we embrace diversity and foster an environment where our people can be their authentic selves. Our differences make us stronger and better together, which fosters a harmonious workplace—something we truly value. We’ve created an approachable and collaborative atmosphere. Here you’ll find a welcoming workplace where everyone can feel valued, supported, and inspired to do great work. Together, we raise the bar by being curious, remaining customer-focused, and operating with integrity.
Berkshire Hathaway Homestate Companies has an immediate for a Director of Pricing to join its Actuarial team! This individual is responsible for integrating industry and company performance data to develop and implement pricing strategies across various regions, markets, and products within our Workers Compensation business. Additionally, this position will provide essential technical support to guide the effective use of the company’s pricing models and analytical tools.
Works closely and communicates effectively with internal and external clients, data analytics team, actuaries, underwriting, marketing, and other departmental teams to turn data into critical information and knowledge that can be used to make sound organizational decisions. Ability to present findings back to the business by exposing assumptions and validations in a way that can be easily understood by business counterparts is essential.
Essential Responsibilities And Principal Accountabilities
- Review rate adequacy and provide recommendations when deviations and revisions from standard assumptions are appropriate.
- Enhance and refine existing pricing models and develop new pricing models to support the Company’s strategic objectives.
- Monitor legislative and regulatory activity and ensure compliance in mandated reporting.
- Develop and maintain analytical standards and procedures, including peer reviews, to ensure consistency across department of analysis, execution, knowledge sharing and documentation.
- Actively engage with and participate in industry professional organizations and rating committees, representing the Company’s strategic interests while presenting as an expert thought leader within the professional community.
As a member of the Senior Leadership Team (SLT), works collaboratively with members of the SLT to actively champion enterprise initiatives, ensuring the organization’s vision, mission, goals and objectives are operationalized. Models and reinforces organizational values and behaviors in all leadership actions. Relies primarily on substantial experience, discerning judgment, and leadership skills to perform the functions of the job and achieve results in established timelines. Takes an anticipatory approach to solving problems. Ensures that employees understand their level of accountability and takes appropriate action to ensure employees fully understand roles, responsibilities and performance standards and provides ongoing feedback and support. Executes all responsibilities with professionalism and in accordance with the organization’s internal policies, as well as regulatory, financial, and ethical standards.
Qualifications
EDUCATION: Bachelor's degree in Statistics, Mathematics, Risk Management, or other related quantitative field, required.
CERTIFICATIONS/LICENSES: Fellow or Associate of the Casualty Actual Society strongly preferred. Predictive Modeling accreditation desirable.
Experience
- Minimum of seven (7) years of FCAS or ACAS experience building predictive statistical models with pricing emphasis required.
- Experience with statistical computer languages and fluency with "big data" tools (R, Python, SAS, SQL, etc.) to manipulate data and draw insights from large data sets is preferred.
- In-depth knowledge of insurance industry, programming, and current technologies used in predictive modeling and statistical analysis.
- Highly sophisticated ability to create and use advanced statistical and predictive modeling techniques and concepts (generalized linear models, non-linear models, machine learning, etc.).
- Proficiency in statistical analysis, quantitative analytics, forecasting/predictive analytics, multivariate testing, and optimization algorithms.
- PROBLEM-SOLVING: Logical thought process and problem-solving ability; able to effectively gather and analyze information skillfully and provide solutions in complex situations. Seeks root causes. Anticipates long-term problem areas and associated risk levels with objective rationale. Identifies items requiring additional information or action and addresses and communicates appropriately.
- STATISTICAL ANALYSIS: Studies industrial, business, and technological trends and forecasts. Differentiates data sources for validity, reliability, and credibility. Assesses the validity of business strategy recommendations against trend and historical data.
- INTERPERSONAL: Solid team-builder, be result oriented, a creative and strategic thinker with innovative problem-solving skills. Approachable and trustworthy with innate ability to form strong and meaningful bonds with executives and stakeholders. Active participant on SLT.
- INNOVATION AND INITIATIVE: Exhibits a drive to learn and master new technologies and techniques. Employs sound judgment in determining how innovations will be deployed to produce higher return on investments. Analyzes previously used concepts, processes or trends to devise new efficiencies or approaches not obvious to others. Thinks expansively by combining ideas in unique ways or making connections between disparate ideas.
- BUSINESS FOCUS: Leads discussions with senior leaders and internal partners to support strategic planning and decision making. Solicits authoritative perspectives and advice prior to approving recommendations.
- DATA VISUALIZATION AND COMMUNICATION: Debates opinions, test understanding and clarifies judgments. Ability to explain and illustrate the context of multiple, complex inter-related situations to a wide and diversified audience.
- Bonus Eligibility
- Hybrid Work Schedule (up to 2 days work from home)
- Paid Time Off
- Paid Holidays
- Immediate Vesting of Retirement Savings Company Match
- Group Health Insurance (Medical, Dental, and Vision)
- Life and AD&D Insurance
- Long Term Disability Insurance
- Hospital Indemnity Insurance
- Accident and Critical Illness Insurance
- Flexible Savings Accounts
- Paid Community Volunteer Day
- Employee Assistance Program
- Tuition Reimbursement Program
- Employee Referral Program
- Diversity, Equity and Inclusion Program
With more than 50 years in business, Berkshire Hathaway Homestate Companies (BHHC) has grown from a regional organization to a national insurance group, offering insurance products from coast to coast. Relationships are the cornerstone of our culture, and we believe in doing the right thing. That means we invest in our business in every way possible to deliver on our mission and demonstrate that people are what powers our success. Our commitment to financial strength and integrity means our customers can rest assured that we will be there when it counts.
At BHHC we embrace diversity and foster an environment where our people can be their authentic selves. Our differences make us stronger and better together, which fosters a harmonious workplace—something we truly value. We’ve created an approachable and collaborative atmosphere. Here you’ll find a welcoming workplace where everyone can feel valued, supported, and inspired to do great work. Together, we raise the bar by being curious, remaining customer-focused, and operating with integrity.