What are the responsibilities and job description for the Pricing Actuary position at Liberty Mutual Insurance?
Description
About the Role
We are seeking a strategic and analytically driven Umbrella Pricing Actuary to join our team. This role will be instrumental in shaping the profitability and long-term direction of our Umbrella portfolio through pricing strategy, portfolio analysis, and cross-functional collaboration.
A key focus of this role is conducting deep-dive analyses on the Umbrella portfolio to identify trends, uncover opportunities, and inform pricing and underwriting strategy. These analyses will directly support data-driven decision-making and help shape the direction of the book. Additionally, this individual will play an important role in ensuring rating consistency between primary and umbrella lines, working to align methodologies and identify discrepancies that could impact pricing integrity. The Umbrella Pricing Model Owner will serve as the primary point of contact for underwriters regarding umbrella pricing questions and concerns. Responsibilities include addressing model-related inquiries, ensuring the accuracy of the pricing model and downstream reporting, and implementing updates when pricing changes occur.
This role requires close collaboration with Underwriting, Product, and Actuarial teams. The successful candidate will possess strong analytical and communication skills, with a demonstrated ability to translate complex concepts into clear, actionable insights and to execute thoroughly in a collaborative environment.
Key Responsibilities
Pay Philosophy: The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.
At Liberty Mutual, our goal is to create a workplace where everyone feels valued, supported, and can thrive. We build an environment that welcomes a wide range of perspectives and experiences, with inclusion embedded in every aspect of our culture and reflected in everyday interactions. This comes to life through comprehensive benefits, workplace flexibility, professional development opportunities, and a host of opportunities provided through our Employee Resource Groups. Each employee plays a role in creating our inclusive culture, which supports every individual to do their best work. Together, we cultivate a community where everyone can make a meaningful impact for our business, our customers, and the communities we serve.
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
Fair Chance Notices
About the Role
We are seeking a strategic and analytically driven Umbrella Pricing Actuary to join our team. This role will be instrumental in shaping the profitability and long-term direction of our Umbrella portfolio through pricing strategy, portfolio analysis, and cross-functional collaboration.
A key focus of this role is conducting deep-dive analyses on the Umbrella portfolio to identify trends, uncover opportunities, and inform pricing and underwriting strategy. These analyses will directly support data-driven decision-making and help shape the direction of the book. Additionally, this individual will play an important role in ensuring rating consistency between primary and umbrella lines, working to align methodologies and identify discrepancies that could impact pricing integrity. The Umbrella Pricing Model Owner will serve as the primary point of contact for underwriters regarding umbrella pricing questions and concerns. Responsibilities include addressing model-related inquiries, ensuring the accuracy of the pricing model and downstream reporting, and implementing updates when pricing changes occur.
This role requires close collaboration with Underwriting, Product, and Actuarial teams. The successful candidate will possess strong analytical and communication skills, with a demonstrated ability to translate complex concepts into clear, actionable insights and to execute thoroughly in a collaborative environment.
Key Responsibilities
- Conduct deep dive analyses on the Umbrella portfolio to support strategic decision-making
- Understand pricing holistically across both primary lines and umbrella layers, ensuring alignment and consistency in pricing methodology.
- Own, maintain, and enhance complex pricing tools, including umbrella rating models and related workflows
- Diagnose and resolve model performance and behavior issues, ensuring pricing tools produce appropriate and reliable results
- Partner closely with underwriting, IT, and other non‑actuarial stakeholders to explain model behavior and pricing outcomes
- Support Umbrella rate filings by preparing exhibits for policyholder disruption and pricing justification
- Contribute to prioritization decisions and delegate work to more junior team members as appropriate.
- Experience working in environments with complex data sourcing and system dependencies
- Ability to operate effectively while balancing enhancement work with ongoing production responsibilities
- Experience collaborating with adjacent teams or shared resources supporting data acquisition and preparation
- Strong organizational skills and a practical, solutions‑oriented approach to production actuarial work
- Bachelor's degree required; Master’s degree preferred.
- Associateship or Fellowship in the Casualty Actuarial Society (ACAS/FCAS) designation preferred or comparable education/designation with relevant experience.
- Minimum 5-7 years relevant experience required.
- Sound knowledge of actuarial techniques and standards, as well as other business operations including financial, underwriting, legal, statistics, claims, sales, etc.
- Advanced communication and interpersonal skills and ability to build relationships and interact effectively with others within and outside the organization.
- Ability to motivate and mentor peers and motivate and train subordinates.
- Advanced computing skills (MS Office Excel, SAS, Python etc.) with ability to build complex models.
Pay Philosophy: The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.
At Liberty Mutual, our goal is to create a workplace where everyone feels valued, supported, and can thrive. We build an environment that welcomes a wide range of perspectives and experiences, with inclusion embedded in every aspect of our culture and reflected in everyday interactions. This comes to life through comprehensive benefits, workplace flexibility, professional development opportunities, and a host of opportunities provided through our Employee Resource Groups. Each employee plays a role in creating our inclusive culture, which supports every individual to do their best work. Together, we cultivate a community where everyone can make a meaningful impact for our business, our customers, and the communities we serve.
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
Fair Chance Notices
- California
- Los Angeles Incorporated
- Los Angeles Unincorporated
- Philadelphia
- San Francisco
Salary : $120,000 - $225,000