Vice President, Product Actuarial & Analytics

The Travelers Companies, Inc.

Hartford, CT, USA Remote / WFH

Jun 13

This job is no longer accepting applications.

Company Summary

Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Target Openings

1

Job Description Summary

Company Information:

When you work at Travelers, life’s most important moments become your life’s work. For 160 years, we have fulfilled our promise to secure, respect and care for our customers, communities and coworkers. Every day, approximately 30,000 Travelers employees – from customer service to data science and beyond – work together to protect the things that matter and provide peace of mind to our customers.

The Business Insurance Actuarial & Analytics (BIAA) Culture:

In BIAA, we strive for an inclusive culture where everyone feels that they belong, can be authentic, are valued, respected, empowered and part of our success. We see strength in the uniqueness that each of us contributes to creating innovative data solutions to improve business outcomes. The successful candidate will enrich our culture and contribute to our goal of creating a more diverse, equitable and inclusive environment.

Job ProfileSummary

Reporting to the Business Insurance (BI) Chief Actuary, the Vice President, Product Actuarial & Analytics will play a key role in maximizing the strategic impact of our outstanding data and analytics on our competitive position. This senior analytic leadership role encompasses broad strategic vision development, strategy execution, operational management and talent development responsibilities for a department typically involved in ratemaking, pricing, planning and forecasting.

As the BI Actuarial Product senior leader for General Liability, Umbrella, Professional Liability, and Cyber, the incumbent will contribute to the underwriting, growth and profitability of these lines, which comprised about $4 billion in premium for Travelers in 2020.

Additionally, with accountability for our actuarial learning strategy, the ideal candidate will have experience in building business acumen and technical skills across actuarial and data science communities to ensure that our team is equipped to help the business perform and transform.

The incumbent is expected to be a collaborative and inclusive thought leader, agent of change and champion for the actuarial community, bringing fresh perspectives to the role and to our organization.

This role will give the incumbent broad exposure to and the opportunity to collaborate with other leaders and decision makers within Business Insurance and across Travelers, enabling them to impact objectives and outcomes that support customer solutions and a competitive cost structure.

We welcome applicants, regardless of location, to apply for this position.

Job Description Primary Job Duties & Responsibilities

Strategy:

Develop organizational strategy and long-term vision. Influence and communicate strategic portfolio recommendations to senior leaders at the enterprise level.

Develop industry-leading new products and analytics, respond to increasing severity patterns, enhance pricing segmentation opportunities, provide international analytic support and explore new data sources.

Create an environment for the successful execution and completion of the entire strategic portfolio.

Inspire change and innovation across the organization.

Advise on many enterprise-wide initiatives and at times lead enterprise initiatives.

Actively engage as a member of the BIAA Senior Leadership team, BI Actuarial Product leadership team and partner to the BI Product management organization.

Be a thought leader in the actuarial & analytics field with a natural curiosity for leveraging leading-edge practices.

Operational:

Lead teams responsible for General Liability, Umbrella, Professional Liability and Cyber analytics, rate adequacy, pricing tools and rate plans.

Approve decisions resulting from teams’ actuarial and analytic analyses.

Empower day-to-day execution within department. Oversee broad department initiatives.

Promote efficiency and influence appropriate resource investment across segment, balance additional effort against incremental lift gained from work.

Make decisions independently in accordance with enterprise practices.

Ask pertinent questions to ensure quality of analytical work.

Prepare analytical foundations for future business needs.

Provide support as necessary for initiatives across the enterprise within the scope of influence.

Learning Community:

Direct the development of our Actuarial Learning Strategy within BIAA and across the Travelers Actuarial Chapter.

Serve as the learning thought leader and champion for the actuarial community.

Drive the development of a holistic actuarial learning plan that accommodates various learning needs with multiple pathways. Refine the plan over time based upon feedback and as learning needs, skills and technologies evolve.

Communication:

Communicate on a regular basis with staff, peers, business partners and senior leaders.

Tailor communication of analysis, project results and other business initiatives to audience.

Demonstrate skill at communicating technical topics to non-technical audiences.

Lead group discussions with multiple disciplines or responsibility levels, including senior leader.

Create formal written communication such as memos or presentations.

Identify actions to enhance business outcomes and influence peers and partners to take action.

Talent:

Demonstrate and model excellent communication skills, empathy, flexibility, integrity and empowerment in service of creating an inclusive climate.

Express, model and reinforce the importance of valuing others and their contributions to our collective success.

Demonstrate passion for diversity, equity and inclusion.

Manage a multi-layered team.

Steer strategies for talent acquisition, retention and development for assigned department, including proactive succession planning and talent assessment recommendations.

Execute, communicate and influence standards for talent development processes, including performance and personal development goals.

Engage in performance management.

Support staff engagement in cross-enterprise initiatives.

Develop talent management/workforce planning strategy.

Mentor less-experienced talent across the enterprise.

Sponsor training and skill development initiatives across segment and the enterprise.

Support recruiting efforts and candidate talent assessment efforts across the enterprise.

Minimum Qualifications

Bachelors Degree or equivalent experience required.

10+ years of comprehensive quantitative analysis experience required.

Project or people management experience required.

Education, Work Experience, & Knowledge

Fellow of the Casualty Actuarial Society (FCAS) Credential preferred.

Demonstrated leadership experiences.

Proven track record of developing and executing strategy.

Strong understanding of insurance products and industry.

Demonstrated ability in actuarial and quantitative analysis and statistical concepts.

Exceptional influencer and/or consulting skills; able to build consensus among a diverse group of stakeholders.

Excellent communication skills with the ability to present and translate complex information to senior leadership and nontechnical teams.

PC skills (MS Office).

Job Specific Technical Skills & Competencies

Leadership:

Promotes a culture that challenges conventional thinking.

Exercises decision-making authority over projects/portfolios of projects and makes independent recommendations to influence business outcomes.

Proficient in Leading Self including exhibiting decisiveness and self-awareness while also effectively managing ambiguity.

Proficient in Leading Others including modeling the way for others, forging synergy and participative management.

Demonstrates mastery of and mentors others on Leading the Business including actively engaging in driving business results, broad thinking, change management and promoting an Enterprise culture.

Demonstrates experience building DEI executive/early career talent pipelines, awareness and development programs.

Demonstrates experience executing plans and strategies to align business with corporate DEI initiatives, efforts and priorities.

Business Acumen:

Has an in-depth understanding and knowledge of business drivers and disciplines as well as their interdependence. Areas include, but are not limited to underwriting, products, reinsurance, distribution, sales, operations, risk control, claim and financial.

Has a perspective on the industry and developing trends, including technology, analytic methodology, products and competitor performance.

Able to effectively utilize this business knowledge in developing and implementing analytic solutions and anticipate the impact of market dynamics on Travelers performance.

May influence the insurance industry.

Relationship Management:

Proactively build, own, and leverage business relationships across the Enterprise.

Encourage cross-functional teams to allow for sharing of ideas across the Enterprise.

Identify and address areas of tension across organizations with business partners and suggest any necessary changes.

Expose accomplishments of other disciplines to their own organization.

Alongside business partners, develop long term strategy and road maps for the Enterprise.

Develop a culture that promotes understanding of diverse perspectives.

Quantitative Analysis:

Able to introduce innovative techniques to both new and existing problems and influence the business by recommending solutions.

Stays aware of advancements in analytical techniques and technology used to implement them.

Regularly offers technical consultative feedback.

Can assess various technical solutions to optimize analytical outcomes.

Consistently recognizes and solves for emerging issues that require a quantitative solution within and outside functional area.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.
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