Senior Actuarial Manager

ORAMCO – Senior Actuarial Manager

About Old Republic:

Old Republic International Corporation traces its beginnings back to 1923. Old Republic is one of America’s 50 largest shareholder-owned insurance businesses and currently ranks among the Fortune 500 list of the Nation’s biggest companies. Old Republic is primarily a commercial lines underwriter serving the insurance needs of a large number of organizations, including many of America’s leading industrial and financial services institutions.

Located on Michigan Avenue, in downtown Chicago, the Old Republic Building (Headquarters) is close to several public transportation lines and parking locations.

Senior Actuarial Manager Responsibilities:

This is an excellent opportunity to join a high-performing Actuarial department within a reputable organization located in the heart of downtown Chicago. This is a new position within the ORAMCO actuarial team. The successful candidate will be responsible for supervising and reviewing large account pricing and reserve analyses for a variety of casualty commercial lines. This position includes managing 4-6 staff members with active involvement in their training and development. The candidate will work primarily in support of Old Republic Risk Management large deductible and alternative risk national accounts. The Senior Actuarial Manager is a member of the ORAMCO actuarial leadership team and reports to the Actuarial Director. Candidates for this position are eligible for our hybrid work program which provides flexibility for up to 2 days remote per week for candidates who qualify.

Senior Actuarial Manager duties will include, but are not limited to:

• Supervise and develop talented actuarial staff working toward their actuarial designations. Foster strong actuarial practices, engagement, and independence.
• Supervise and review complex pricing and reserving analyses in a high production environment
• Work closely with the Account Executive and Management team to provide actuarial support and meet business needs. Maintain good rapport, promptly responding to inquiries and requests.
• Provide actuarial guidance to Underwriting team regarding the pricing of new and existing business and customize pricing models for unique insurance programs
• Discuss and effectively communicate results of analyses with internal and external clients, including providing complex review of other parties’ work product.
• Discuss appropriateness of various actuarial pricing and reserving techniques and results to management and non-technical users
• Perform and direct complex projects and analyses and provide appropriate documentation and disclosures to meet actuarial standards of practice and internal business needs
• Analyze historical loss reports for major trends/development in company data and monitor industry and internal trends
• Assist with updating and improving pricing models and underlying factors as needed

Experience/Required Skills:

• ACAS or FCAS designation
• Bachelor's degree in Actuarial Science, Statistics, Mathematics, or related field
• 10+ years of related actuarial pricing or reserving experience
• 5+ years of management experience
• Experience managing large-scale projects
• Extensive insurance knowledge focusing on casualty lines. Workers compensation and Commercial Auto pricing and reserving experience strongly preferred.
• High level of proficiency in Microsoft Excel, proficiency in Access preferred
• Advanced actuarial technical expertise and product specific knowledge
• Ability to apply actuarial concepts to unique insurance programs
• Demonstrated data analysis and problem solving skills
• Ability to manage deadlines and work on multiple projects concurrently
• Strong planning, organization, and time management skills
• Excellent communication skills on multiple platforms with the ability to effectively interact with management and people across all departments
• Highly motivated and self-starting with an ability to foster engagement in a team environment

Old Republic International “ORI” is an Equal Opportunity Employer. ORI provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training

Job Type: Full-time

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid parental leave
• Paid time off
• Retirement plan
• Vision insurance
• Volunteer time off

Ability to Relocate:

• Chicago, IL 60601: Relocate before starting work (Required)

Work Location: Hybrid remote in Chicago, IL 60601