Job Details

The Vice President, Reserving and Risk Management is an analytic leadership role that is responsible for the implementation of a variety of actuarial/statistical techniques and analyses in order to derive an actuarial central estimate of reserves, providing analysis to the reserving committee and engaging management in the determination of the best estimate of reserve. Other responsibilities include planning/forecasting, risk capital calculations (i.e. RBC and BCAR), project management and research. This role is expected to implement the reserving and risk management function, lead and drive work within the Finance organization, provide analytical insights and recommendations to leadership and business partners, and share ownership of the business's financial results. The VP, Reserving and Risk Management will work within broad limits and authority on complex assignments requiring specialized knowledge and expertise in breadth and/or depth in the areas of reserving and pricing.

Key Responsibilities

• Lead the loss reserve review and analysis for the Company working closely with the Insurance
  Product and Claims teams to determine appropriate ACE reserves and establishment of the
  Management Best Estimate reserves (MBE).
• Ensure that there is a regular flow of reserving information to and from key stakeholders,
  including Insurance Product, Claims, Reinsurance and Finance. Manage information that is
  shared with external stakeholders, such as reinsurers and regulators.
• Coordinate and lead quarterly reserving committee meetings with management, ensuring
  alignment and approval of reserves.
• Assist in the forecasting of loss ratio, utilizing historical and projected data as well as input from
  stakeholders to determine expected ultimate loss ratio under several basis (i.e., statutory, accident
  year, treaty year, etc).
• Assist in establishing and maintaining a culture of risk management within the organization.
• Work with the Insurance Product and Financial Planning & Analysis teams to develop a cost of
• Support the Finance / Financial Planning & Analysis team on Best's Capital Adequacy Ratio
  (BCAR), Enterprise Risk Management (ERM), and Risk Based Capital (RBC) to ensure
  credibility and alignment of required capital across multiple risk-bearing entities.
• Build strong relationships with key internal and external stakeholders and manage various
  reporting and meeting requirements to maintain alignment.
• Support the development of actuarial and analytical skills within the Company serving as a
  mentor and guide across different functional areas

Requirements

• Bachelor's Degree or equivalent combination of education and work experience
• Master's Degree preferred
• Fellow of the Casualty Actuarial Society (FCAS) required
• Member of the Academy of Actuaries (MAAA) preferred
• 12+ years relevant experience
• Advanced technical skills and working experience with various reserving techniques and
  processes.
• Extensive experience forecasting loss ratios and related components (i.e. earned premium, loss
  costs, etc.), with a thorough understanding of their impact on financial statements, both on a
  GAAP and STAT basis.
• Experience in pricing/product actuarial work.
• Problem solving through advanced data and statistical analysis
• Work effectively with senior executives and executive teams by utilizing clear, concise and
  analytical communication.
• Make decisions by examining facts, applying expertise, analysis, and sound judgment.
• Deal positively and constructively with ambiguity, applying experience to drive creation and
  improvement of processes where necessary.
• Strong interpersonal and communication skills to build relationships and trust at all levels with
  internal stakeholders.
• Manage, influence and collaborate with people at different levels within the organization to
  accomplish a common goal.

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