Director, Actuarial Services

Please note, employment offered to residents in the following states only: Connecticut, Delaware, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont.

At Preferred, we understand the importance of holistic health. To meet the diverse needs of our employees, we offer a comprehensive set of benefits:

Financial

• Short-term disability, long-term disability, and life insurance coverage are provided at no cost
• Optional benefits include enhanced life insurance and critical illness plans
• 401k plan with an employer contribution that you will receive regardless of your own contribution to the plan
• A cash-balance pension plan
• Student Loan Repayment Assistance
• A short-term incentive plan for all employees

Social

• Generous paid time off, offering of 25 days at hire (prorated based on start date for the first year)
• 7 days of paid sick leave
• 10 paid company holidays
• Personalized paid time off after 3 years

Emotional

• Access to 26 sessions with a BetterHelp therapist each year for you and up to 5 dependents, as well as access to all of BetterHelp’s group and digital resources
• Access to Family First, a team of care experts who can provide you and your loved ones 1:1 assistance with a variety of caregiving solutions, from elder care to legal and financial challenges, insurance and Medicare navigation, and more

Physical

• Medical, dental, and vision coverage options begin on the first day of employment
• Health Savings Accounts (with a generous employer contribution)

YOUR PURPOSE AND FUNCTION IN OUR COMPANY:

The Director of Actuarial Services position is a broad-based P&C actuarial position that will be responsible for the application of actuarial principles in the areas of pricing, reserving, predictive modeling, strategic planning, reinsurance, and financial planning. This is a leadership role that will be responsible for utilizing actuarial skills and perspectives to help the organization succeed in meeting its strategic plan and financial goals. The role will be responsible for providing strong thought leadership, help develop corporate strategy, and provide key insights on organizational performance. The position will manage the activities of the Actuarial Services department and will have strong interactions with all other insurance operations including Data and Analytics, Underwriting, Claims, Product, and Finance.

The key functions will include:

• Leads a team of Actuaries to execute complex and strategic projects, while leveraging broad functional expertise and knowledge of the business to serve as a subject matter expert across the organization
• Effectively manage the activities of the Actuarial unit to ensure accuracy, efficiency and timeliness of all actuarial work products
• Responsible for engaging senior leadership to influence business decisions related to lines of business, geographic areas, or business segments
• Uses best practices to develop and ensure appropriateness of complex actuarial/statistical analyses/methodologies used across the organization to influence business decisions while ensuring quality of data used to perform the analyses is appropriate and documentation standards are adhered to
• Leverages understanding of insurance business, product, markets and regulatory environments to develop and lead pricing/reserving/modeling strategies to influence business decisions across the organization
• Oversee development of actuarial rate indications and manage and/or provide direct support to secure regulatory approval of company rate filings
• Support the internal quarterly loss reserve review process, help interpret the results, and provide recommendations to senior management on held reserves. In addition, provide an evaluation of the year-end reserve reviews conducted by our outside Opining actuary
• Support new and innovative tools to enhance the pricing sophistication at PMIC
• Direct involvement in the successful development, implementation and performance of our pricing models (i.e., predictive modeling)
• Provide hands-on actuarial work and analysis for some of the more complex actuarial projects
• Provide actuarial support for the annual financial planning process and help develop effective ways of using historical data to assist others in understanding the trajectory of our results
• Help provide actuarial support during the annual review of reinsurance treaties
• Work with our business partners to seek out new opportunities to provide unique actuarial support and insights to all areas of the organization
• Ensure an effective and efficient rate review process for our core