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FinanceJob Description:
Your Work Shapes the World at Caterpillar Inc.
When you join Caterpillar, you're joining a global team who cares not just about the work we do – but also about each other. We are the makers, problem solvers, and future world builders who are creating stronger, more sustainable communities. We don't just talk about progress and innovation here – we make it happen, with our customers, where we work and live. Together, we are building a better world, so we can all enjoy living in it.
Your Work Shapes the World at Caterpillar Inc.
Our common values and focus on inclusion and respect drive the decisions made by our company, teams and people. This is why we are committed to hiring and building diverse teams representative of the customers we serve globally. When you join our team, you can apply your unique life and job experiences and work in an environment where your ideas are heard, your contributions are celebrated, and your whole-self matters.
When you join Caterpillar, you're joining a global team who cares not just about the work we do – but also about each other. We are the makers, problem solvers and future world builders who are creating stronger, more sustainable communities. We don't just talk about progress and innovation here – we make it happen, with our customers, where we work and live. Together, we are building a better world, so we can all enjoy living in it.
About Cat Financial
Cat Financial is a subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more than 40 years, Cat Financial has provided a wide range of financing solutions to customers and Cat® dealers for machines, engines, Solar® gas turbines, genuine Cat parts and services. Headquartered in Nashville, Tennessee, Cat Financial serves customers globally with offices and subsidiaries located throughout North and South America, Asia, Australia, Europe and Africa. Visit cat.com to learn more about Cat Financial.
JOB SUMMARY: Develop rate review analysis; develop and maintain management reports and competitive pricing data. Serve as the Actuary responsible for all pricing relative to Caterpillar Insurance programs. Manage a team of Actuarial Analysts to provide actuarial services or analysis.
JOB RELATED STATISTICS:
Cat Insurance Pricing All Lines of Business:$300 – 500 Million
Annual Payroll Budget:$150 – 200 - Thousand
Personnel:2 Exempt
PRINCIPAL DUTIES AND RESPONSIBILITIES:
1.Develops rate review analysis for each of the core Caterpillar Insurance programs. This analysis includes a review of the overall rate adequacy, as well as a review of the rate classifications, to insure an equitable pricing structure. During the analysis, actuarially accepted rate making methods are applied and data appropriate for rate making are developed. Incorporated into the analysis are any considerations that may impact the adequacy of the rate level. This responsibility requires participation in the review of the analysis and development of final pricing recommendations.
2.Serve as Chair of Caterpillar Insurance’s Pricing Committee.
3.Develops and maintains management reports displaying the historical financial experience of the core lines of business. These reports are utilized by the company in the marketing and profitability management of the core lines of business.
4.Provides direction for the Actuarial Unit in the development and maintenance of queries and reports that utilize actuarial data and projections, to extract data from the appropriate databases. These reports are utilized in actuarial studies and by other CISC personnel for management purposes.
5.Assists the manager with the pricing of reinsurance treaties between Caterpillar Insurance Companies and other insurance companies to help assure the profitability of Caterpillar Insurance Companies.
6.Manages the Actuarial Unit in pricing for product development and actuarial services provided to Caterpillar Insurance customers. This includes collection of competitive pricing data.
7.Manages and directs a team of Actuarial Analysts to provide actuarial services or analysis. Determines and directs work assignments, projects, and tasks of team. Assures that adequate resources are assigned to meet current and planned goals. Reviews work of team members according to their level of expertise. Ensures work is accurate and completed according to established procedures and standards.
8.Participates in accomplishment of continuous improvement objectives for the department. Progress toward accomplishment of these is measured through maintenance of necessary measurements and analysis of associated data. Participates in the identification of problem areas and development of resolutions to address them.
9.Understands the Equal Opportunity and Harassment policies of the company, is responsible for their application in all aspects of management and for the maintenance of an environment which is consistent with the policy.
JOB REQUIREMENTS:
SKILLS, ABILITIES, AND KNOWLEDGE:
1. Advanced ability to apply effective oral, written, and listening communication skills to maintain a good rapport within the finance and insurance communities through contact both individually and through various associations.
2. Proven knowledge and ability to utilize windows based computer software to produce documents, reports and spreadsheets.
3. Thorough knowledge of and ability to apply time management, organization and planning skills.
4. Proven ability to operate office equipment, including a financial calculator, telephone system and computer system, including desktop and/or laptop models.
5. Advanced knowledge of and demonstrated ability to apply problem-solving and decision-making skills.
6. Advanced ability to train and advise team members on the actuarial processes and procedures.
7. Demonstrated ability to successfully manage and direct team members.
8. Advanced ability to provide teamwork and leadership skills in order to accomplish given tasks.
9. Advanced ability to motivate staff to achieve objectives.
10. Demonstrated knowledge of and ability to apply human relations skills.
11. Proven ability to work independently.
12. Proven ability to apply organization, planning and time management skills.
13. Advanced knowledge of and advanced ability to apply math computation skills including statistics and mathematical concepts used in modeling.
14. Advanced ability to create, read and analyze various business reports.
15. Advanced knowledge of and ability to apply advanced forecasting and financial modeling techniques.
16. Thorough ability to make various types of presentations to all levels of the Caterpillar organization, dealers and end users.
EDUCATION/EXPERIENCE: A 4-year college or university degree in statistics, mathematics or other related field and a minimum of 7 years exempt actuarial experience is recommended. A minimum of 2 years of supervisory or project management experience is recommended. The Associate level designation from the Casualty Actuarial Society is required. Equivalent experience may be substituted for education.
Additional Information:
Position is Fully Remote, with the option to accept Relocation Benefits to Nashville, TN if interested.
#LI-Remote
Summary Pay Range:
$132,588.00 - $232,896.00Compensation and benefits offered may vary depending on multiple individualized factors, job level, market location, job-related knowledge, skills, individual performance and experience. Please note that salary is only one component of total compensation at Caterpillar.
Benefits:
Annual incentive bonus plan*
Medical, dental, and vision coverage
Paid time off plan (Vacation, Holiday, Volunteer, Etc.)
401k savings plan
Health savings account (HSA)
Flexible spending accounts (FSAs)
Disability benefits
Life Insurance
Parental leave
Healthy Lifestyle Programs
Employee Assistance Programs
Voluntary Benefits and Employee Discounts
Tuition Reimbursement
Career Development
*Subject to annual eligibility and incentive plan guidelines .
Relocation is available for this position.Visa Sponsorship is not available for this position. This employer is not currently hiring foreign national applicants that require or will require sponsorship tied to a specific employer, such as, H, L, TN, F, J, E, O. As a global company, Caterpillar offers many job opportunities outside of the U.S which can be found through our employment website at www.caterpillar.com/careers.Posting Dates:
February 27, 2024 - March 5, 2024Any offer of employment is conditioned upon the successful completion of a drug screen.
EEO/AA Employer. All qualified individuals - Including minorities, females, veterans and individuals with disabilities - are encouraged to apply.
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