Actuarial Manager (Remote)

Are you driven to keep people safe? That’s what we do every day at MEM Insurance.

We’ve created a casual, values-driven work culture that’s making a positive impact on the way people live and work. This is a place where you can grow with confidence — because that’s what safety and success really mean to us.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Leadership & Team Development

• Provide leadership, mentoring, and technical guidance to the actuarial team. Foster a culture of collaboration and excellence in the delivery of service to stakeholders.
• Lead the team in delivering business insights to stakeholders to drive data-based decision making.
• Manage team performance, including conducting performance evaluations and setting development goals.
• With the support of the HR team, support administrative activities related to employee matters (i.e., approving time-off requests, development planning, etc.)
• Oversee the training of staff in actuarial methodologies, tools, and advanced analytics.
• Collaborate with Corporate Actuary to develop team goals and ensure alignment with organizational objectives.
• With support from the Corporate Actuary, manage departmental budgeting, including resource allocation and planning.
  
  
  

Actuarial Product Development

• Collaborate with underwriting, sales, and compliance teams to design products that align with business objectives and regulatory standards.
• Oversee the evaluation and pricing of new products or existing products in new markets, ensuring profitability and sustainability.
  
  
  

Portfolio & Performance Management

• Conduct actuarial reviews of the company’s product portfolio to assess profitability, trends, and opportunities for improvement.
• Collaborates with the D&A team to design and implement portfolio monitoring tools and processes to identify emerging risks and opportunities.
  
  
  

Reserving

• Manage and oversee regular reserve studies, providing insights on indicated carried reserves, reserve ranges, and trends in frequency and severity.
• Collaborate with Claims leadership to understand claim philosophy, claims handling changes, and industry and company trends that may impact actuarial reserving.
  
  
  

Rates & Pricing

• Oversee rate level indications, class rate making, competitor rate analyses, and impact analyses for proposed rate changes. Make recommendations to management relative to annual rate changes.
• Collaborate with compliance, underwriting, and data scientists to develop and file rate proposals with regulatory authorities. Ensure the accuracy of rate filings.
• Develop and oversee the creation of comprehensive actuarial exhibits and the actuarial memorandum in support of rate filings.
• Lead the development and maintenance of large account and deductible pricing tools. Collaborate with underwriting and provide consultation and support for applying actuarial pricing methodologies to large account and deductible pricing.
• Collaborate with data scientists to support predictive analytics and segmentation.
• Utilize predictive and prescriptive analytics to forecast trends and optimize operational performance.
• Respond to inquiries from the Department of Insurance as needed.
  
  
  

Modeling

• Oversee and consult on the development, refinement, and maintenance of actuarial models (e.g. pricing and reserving), ensuring alignment with corporate objectives and compliance standards.
  
  
  

QUALIFICATIONS:

Education

• A Bachelors’ Degree in Business Administration or related field is required. Continuing education in insurance related topics is highly recommended.
  
  
  

Designations/Certifications

• ACAS, FCAS
  
  
  

Licenses

• A valid drivers’ license is required.
  
  
  

Experience

• 6-10 years of professional actuarial experience in the property casualty insurance industry policyholder service functions
• 2 plus years’ Workers’ Compensation experience strongly preferred
• 2 experience in a manager/leadership role or in a capacity heavily involved in planning and organizing resources
  
  
  

TOTAL REWARDS:

• Health Plans: Medical, Dental, and Vision
• Our medical plan includes robust offerings such as fertility benefits and fully paid preventative care.
• Our dental coverage also includes adult orthodontia, and other less commonly covered dental treatments.
• Fully Employer-Paid Life and Disability Benefits
• Life Insurance - three times base salary
• Accidental Death and Dismemberment
• Short and Long-term Disability
• Employee Wellness and Recognition Program with employer-paid incentives for employees and their spouses
• Flexible Spending Account and Dependent Care options
• Health Savings Account with generous employer contribution
• Time Away from Work
• Generous PTO accruals
• 11 Holidays and 4 Early releases
• 16 Hours of Volunteer Time Off
• 20 days of paid parental leave (in addition to STD)
• Marriage, Bereavement, and Jury Duty leave policies
• Employee Assistance Programs
• 401k Retirement Plan including employer match and profit sharing
• Adoption Assistance
• Tuition Assistance
  
  

Our home office is located in vibrant Columbia, Missouri — #6 in Livability’s 2019 Best Places to Live.