LOCATION: Altona, Winnipeg or Virtual in Manitoba
REPORTS TO: VP Data and Analytics
DIRECT REPORTS: Actuarial Analysts
Red River Mutual is a progressive insurance company with a focus on our customers and employees. We believe everyone has a right to feel safe and protected, and to know that someone is looking out for them. So, we treat our employees like family members – we’ll be honest with them, support them, offer a listening ear, admit when we’re wrong and be a positive force in their lives and in our communities.
PURPOSE OF POSITION:
The Actuarial Analyst Manager is instrumental in the success of building out the in-house actuarial expertise within Red River Mutual. In this role, you will be responsible for providing leadership to their team, developing and executing on optimal pricing strategies. The successful candidate will participate actively in the updating of cutting-edge pricing techniques in a way that minimizes the adverse impact on customers, and spurs profitable growth while contributing to the development in management, financial and actuarial data, models, or tools.
HOW DO YOU KNOW THIS IS FOR YOU?
- You are excited about building and supporting an actuarial department for the organization and being an integral part in developing our actuarial vision and strategy
- You like challenging the status quo in actuarial pricing and analytics and are willing to “roll up your sleeves” to make it happen
- You want to apply your knowledge to support a rapidly growing company
- You thrive in working in a small tight-knit team
- You are a proven people leader that mentors and empowers teams to get stuff done
KEY RESPONSIBILITY AREAS:
- Provide expertise on various databases, programming languages and modeling software to contribute to actuarial strategic objectives.
- Use advanced modeling techniques and actuarial analysis techniques to develop rate indications and segmentation models for all our lines of business.
- Lead pricing reviews for all lines of business; make quality recommendations and provide implementation support when required.
- Produce and analyze reports that monitor the evolving trends in the book of business and recommend rating and underwriting actions based on observations.
- Lead monitoring activities to assess the quality of our insurance portfolio, and track the rates, market share and insurance results of our competitors.
- Maintain, modify, and validate predictive statistical models; interpret the model results to leaders.
- Develop management, financial and actuarial data, models, or tools.
- Understand, build and improve the pricing algorithms for our products using modern modeling techniques.
- Maintain, develop, and validate actuarial reports to meet business needs.
- Support the business and overall team by providing general analytical support to the Actuarial function.
- Research, extract, and manipulate complex data from all relevant sources. Identify relationships, problems/issues, and assess data quality.
- Analyze the needs of business partners, researching multiple data sources and identifying actuarial requirements to design innovative solutions for complex challenges.
- Communicate analysis insights and decisions to business leaders. Translates actuarial. analysis to understandable business metrics fit for the audience.
- Propose quality solutions and provide implementation support when required.
- Take ownership of product structure, algorithms, pricing tables, and rules in all systems and maintaining actuarial best practices.
- To motivate, coach, and hold accountable staff under your direction in the business.
- Administer timely performance reviews, assessing needs for education, rewards, and setting direction.
- Embody and influence the organization to have the following leadership competencies: Team Player/Collaboration, Strong Communication Skills/Interpersonal Skills, Emotional Intelligence, Respect Diversity, Nurtures growth, Decision Making/Problem Solving/Critical Thinking, Motivate and Inspire People
QUALIFICATION AND SKILLS:
- Minimum education of a university degree in Actuarial Mathematics, Statistics, Mathematics or another related field of study;
- 5 + years of actuarial analysis experience.
- ACAS or FCAS is preferred or actively working towards.
- Experience working with predictive analytic tools and techniques.
- Experience in Python and R would be considered an asset.
- Excellent written and oral communication and interpersonal skills in business and user-friendly language;
- Process-driven with the ability to document, maintain and adhere to standards, procedures, and processes;
- Adaptable and flexible to changing business needs and priorities;