King of Prussia, PA
The VP, Actuarial position will support the business strategy to drive profitable growth of international travel health business by working with our client in King of Prussia, Pennsylvania. This individual will be responsible for directing and leading the actuarial and risk aspects of business development and product compliance.
This position will report to the Senior Vice President, Actuarial.
• Product Development - Partner with Product Development team to ensure sound risk management and rating of products at the outset is performed. This includes the analysis of new products in order to achieve the expectations of long-term growth and profit goals.
• Market Analysis - Assess competitiveness of existing rating structures and underwriting criteria.
• Forecasting and Business Planning - Support financial forecasts, budgeting and business plan projections. Provide input to business plan with the goal of profitable underwriting results and future business planning. This will include the review and verification of account and business segment renewals including accurate management reporting of experience results.
• Underwriting Collaboration - Manage rating tools and applications that support the underwriting team. Oversee adherence to existing underwriting guidelines and manage changes to the guidelines.
• Large Account Rating Oversight and Support - Manage large account rating and risk management in support of profitable, compliant growth of fully insured business as well as stop loss on self-funded. Develop and maintain specialized participation agreements such as contingent commission, experience refund, and experience based premium adjustment formulas and periodic settlements for accurate and timely reporting.
• Rating Methodology - Establish and document new business rating basis that will ensure profitable underwriting results. Develop a manual rate and factor review process in support of rating.
• Rate Filings - Manage the regulatory compliance and the timely approval of state rate filings and actuarial memoranda/certifications.
Education and Certifications
• Bachelor’s Degree in Mathematics or Business required
• Associate or Fellow of the Society of Actuaries designation required
• Member of American Academy of Actuaries preferred
• Continuing education relating to the maintenance of professional credentials (compliant status) preferred
• 10+ years of insurance business experience preferred
• International health and travel products preferred
• Nationwide travel to industry conferences, King of Prussia office, Oakbrook office and other client visits