Chief Actuary

At The N&D® Group, we have been covering local homeowners, drivers, and businesses with personalized insurance policies since 1825. As a locally grown insurance company, we know the region, know the risks, and know the right coverage.

Under the supervision of the Chief Financial Officer, Chief Actuary will support the Actuarial Services team by overseeing a team of actuarial supervisors, analysts, and technical experts. This is a highly visible position with responsibility for all day-to-day actuarial activities for the N&D® Group. Additionally, this role will have oversight of the actuarial functions pertaining to Union Mutual, with whom the N&D® Group is affiliating, pending regulatory approval.

Responsibilities:

• Supervise a team of actuarial professionals, with direct management of 2-3 supervisors and technical experts
• Supervise rate reviews by state and line of business to achieve targeted growth and profitability, including rate indications, disruption analyses, competitive research, and state filing exhibits
• Build a robust actuarial process for Union Mutual following regulatory approval of the affiliation, including annual rate reviews for all Union states and lines of business
• Hire 1-2 team members (likely including an ACAS or near-ACAS analyst) to assist with Union-related actuarial work
• Coordinate work with outside actuarial consultants when hired to perform ground-up rate class modeling (typically every 5-8 years for core lines)
• Work with IT and Analytics teams to streamline gathering of actuarial data for both N&D and Union Mutual business
• Estimate year-end loss & LAE reserves and partner with Finance to prepare year-end reporting; lead mid-year reserve analysis through Q2
• Liaise with outside appointed actuary to provide data and business updates for preliminary analysis through Q3 and then year-end analysis
• Prepare data for reinsurance brokers on annual schedule; work with brokers to evaluate various program options
• Lead preparation of annual reporting requirements, such as AM Best's Supplemental Rating Questionnaire, the annual AM Best and Massachusetts Division of Insurance presentations, and Management Discussion & Analysis
• Lead meetings in which you effectively integrate (and communicate) technical analysis and organizational strategy to business partners and upper management
• Maintain corporate enterprise risk management and capital allocation models; work with Finance team to parametrize business plans
• Evaluate M&A opportunities on ad-hoc basis, including development of pro forma models
• Keep current on industry and company product and pricing developments; identify potential threats to our products and develop actionable recommendations
• Advise employees on actuarial and analytical skills through corporate trainings
• Other tasks as assigned by the CFO

Qualifications:

• 7+ years of experience in P&C actuarial work, preferably with experience in both pricing and reserving
• 3+ years of management experience
• Fellow of the Casualty Actuarial Society (FCAS)
• Advanced skills using Microsoft Office, particularly Excel
• Intermediate programming skills (SQL, R)
• Ability to influence decision making through strong verbal and written communication skills
• Comfort working with both technical and non-technical audiences inside and outside the organization
• Strong interpersonal skills and the ability to work in a team environment as well as independently
• Ability to balance multiple projects and allocate work appropriately to team members

We offer a competitive total compensation package including a full suite of excellent benefits:

• Medical (with FSA, company funded HRA), dental, vision, and life insurance
• 401(k) with match
• An exceptional and fully funded pension plan
• Insurance designation incentives and tuition reimbursement
• Wellness reimbursement
• Flexible and generous paid time off policy
• Charitable Matching Gift Program

The N&D Group has adopted a 60/40-hybrid work model with employees working 60% of the time in the office.

Our office headquarters is located in Dedham, MA at a brand-new state of the art facility completed in June 2022. The office offers employees an on-site café with free breakfast and lunch, fitness center, and free parking. Electric vehicle charging stations are available.

The Norfolk & Dedham Group® is an Equal Opportunity Employer

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