Society Insurance, a market leader in niche commercial insurance programs in the Midwest, is adding a key role to their executive team.

The Vice President Actuary will report to the President & CEO.  The successful candidate for this position will leverage advanced skills in actuarial techniques and data management to work collaboratively with executives in underwriting, claim, marketing and finance to achieve and maintain rate and reserve adequacy for the company, while continuing a track record of consistent and profitable growth.  This position will develop an Actuarial Department for the company and will also be an important contributor in setting relationships with rating agencies and reinsurers.

An FCAS designation is required for this position, along with a minimum of ten years cumulative experience in pricing and reserving Workers Compensation, Commercial Multi-Peril and Commercial Auto lines of business. Experience in developing and using predictive models in pricing is preferred, along with some management experience.

This position is ideally suited for the individual who wants to be an important part of a well-functioning executive team that has a passion for continuous improvement and a focus on benefiting our policyholders.

Located in Fond du Lac, WI, Society Insurance offers an extensive benefit package to its employees.  We understand that employees have different needs. Our benefit offerings allow you to meet those needs and balance your work and life. Some of our benefits include:  medical, dental and vision insurance, paid time off, 401K with matching contribution potential, company funded pension program and flexible scheduling.

Primary Purpose

Directs the company in rating and reserving adequacy by applying actuarial techniques while working collaboratively with executives in underwriting, claims, marketing and finance. Takes a lead role in assisting all departments in managing and analyzing data for improved efficiency and profitability. Coordinates with underwriting and marketing to help design products that support profitable growth. Contributes as a member of the leadership group by assisting in the management of rating agency and reinsurance relationships. Oversees the day-to-day operations and expense management of the Actuarial Department. Supports the professional development of the Actuarial team through coaching, mentoring and leadership development.

Essential Functions and Responsibilities (Other duties may be assigned)

• Applies actuarial techniques while collaborating with other executives to achieve rate level and loss reserve adequacy for the company.
• Participates in the companys annual strategic planning process.  Serves as a key member of the executive team in determining the companys strategic direction.
• Along with the CEO, COO and other executives contributes to managing relationships with rating agencies and reinsurers.
• Establishes and implements short and long-range goals, objectives, policies and operational procedures for the Actuarial Department.
• Researches, develops and implements tools and processes that support rate and reserve adequacy.
• Analyzes and evaluates the effectiveness of Societys rates, pricing and loss reserving.
• Ensures that actuarial department efforts follow the guiding principles of Societys Business Plan, Mission, Vision and Goals.
• Builds and maintains positive relationships with agency force and trade associations to gain their acceptance of rate and product directions.
• Represents the company at appropriate and necessary industry and trade association functions.
• Develops staff by coaching, mentoring, technical training and disciplining of employees when needed; planning monitoring and appraising job results.
• Maintains staff by interviewing, selecting, orienting and training employees.
• Completes necessary administrative work (including but not limited to) approving time cards on a bi-weekly basis, approving PTO and flextime requests as appropriate, completing yearly salary administration, operating within department and company guidelines and standards.

Required

Preferred

• Bachelors degree in business, math or actuarial science.
• Fellow Casualty Actuarial Society (FCAS) designation.
• 10+ years of cumulative experience in pricing and reserving Workers Compensation, Commercial Multi-Peril and Commercial Auto lines of business.

• 15+ years of cumulative experience in pricing and reserving Workers Compensation, Commercial Multi-Peril and Commercial Auto lines of business.
• 5 years of experience in using predictive models for commercial account pricing.
• 5 years of management experience with a property/casualty insurance carrier