As Vice President & Chief Actuary – Credit & Specialty divisions, you will act as the lead Actuary on all Credit and Specialty business, including Personal and Commercial Lines, with heavy concentration of Casualty business including Professional Liability, BOP’s, GL, Non-Standard Auto and other new and renewal Program Business for the entire United States and eventually worldwide.
Responsibilities will include rate, reserve and underwriting analyses for our P&C and Life books of business, which cover the entire United States. The need exists for P&C and Life analysis as our Credit and Specialty divisions span seven statutory companies across both lines of business. The key responsibilities for this position include:
In coordination with the lead underwriters:
Evaluate, classify and rate programs and underlying risks to determine acceptability, coverage and pricing for current and proposed products and programs
Determine acceptability, conditions and pricing of all program business risks, and agree on coverage within regulatory requirements, corporate product offerings and designated authority level
Monitor profitability of programs and make recommendations as necessary to attain profitability goals.
Review P&C, Life, Credit Property, Disability and all loss ratios by state to determine where deviations are needed
Exercise discretion and independent assessment and evaluation of the risks
Assist with rate development for new Limited Physical Damage program to replace CPP in POS Consumer Finance channel
Assist with rate development of new Consumer Finance product to enhance AD&D and or replace Non-File
Review Debt Protection program pricing and assist with new program pricing
Work with the Compliance Group to develop filing support, respond to objections, ensure proactive rate filings occur, review and sign all actuarial memorandums necessary for state rate filings, etc.
Review and sign all actuarial memorandums necessary for P&C state rate filings
Rate analysis and development, product development and segmentation analyses
Maintenance and improvement of actuarial analyses such as trend setting, gross margin reporting, and financial forecasting
Actuarial representation on cross-functional workgroups as an active participant
Provide reserving analysis and support for all Credit and Specialty products that includes but is not limited to:
Gather the data from a variety of sources and reconcile to Schedule P and the financials for the pooled P&C group.
Provide this data and analysis support to outside opining actuary as needed
Act as the lead actuary for reinsurance treaties, namely XOL and CAT covers
Work with the group SVP & Treasurer to support management’s selection of reserves
Represent the company’s actuarial position to lead reinsurance markets as needed
Occasional travel required
Minimum 10 years actuarial experience, with emphasis on Casualty lines required and experience on Life lines and MGA business preferred
Our ideal candidate will have product management and actuarial pricing experience
Minimum actuarial designation of FCAS required
Insurance product pricing and analysis
Position requires a theoretical and conceptual knowledge of a technical / functional specialization
Problems are typically solved through high level technical analysis
Insurance product and risk management preferred
Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Finance, Insurance or related field or equivalent experience
Fortegra Corporation, an insurance services company, provides insurance-related products and distribution and administration services in the United States. The company was formerly known as Life of the South Corporation and changed its name to Fortegra Corporation in 2008. Fortegra Corporation was incorporated in 1981 and is based in Jacksonville, Florida.
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