Senior Vice President & Actuary

Chubb•Philadelphia, PA

1d•Onsite

About The Position

This Senior Vice President & Actuary position is responsible for leading the actuarial staff of the Commercial Insurance division and for working with senior management in developing, analyzing, and maintaining the rates for all products. This role is based in either our Philadelphia, PA or Whitehouse Station, NJ office and reports to the Chief Actuary of Chubb North America. Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.

Responsibilities

Work with division leadership to set and implement Commercial Insurance portfolio management strategies, taking initiative to identify and communicate key issues and actionable insights
Lead an actuarial pricing staff of over 50 people, including setting and tracking priorities and ensuring efficient workflows, delegation/coordination of assignments, and documentation
Ensure ownership of all Commercial Insurance rating plans/models, including annual refresh to reflect current loss trends and rate needs; regular review of model parameters; implementation and maintenance of associated rating systems and data integration; and opportunities for model consolidation or externalization.
Develop pricing mechanisms for new products, coverages, and rating plans
Complete annual profitability studies for all Commercial Insurance portfolios by line of business and granular dimensions, driving strategic engagement with business leaders to action key findings
Forecast future results to influence planning objectives and development of the division’s Financial Plan
Monitor achieved rate changes, new business adequacy, AvE, trend, and mix changes; including their associated impact on current accident year results; and report to senior management in support of quarterly closing processes
Peer review relevant reserving and actuarial line of business community work efforts
Oversee and approve individual account pricing, adhering to Actuarial referral guidelines including Credit Committee approvals
Work with the corporate catastrophe and capital modeling units to ensure adequate risk provisions
Support reinsurance placement through effective collaboration with Ceded Reinsurance, Finance, and senior management
Drive innovation, actuarial process modernization, robust data platforms
Foster data integrity, quantitative discipline, and analytical rigor
Ensure professionalism and adherence to actuarial principles and Company practices
Encourage continuous learning and promote career growth of staff