AVP, Pricing & Strategy Actuary

Unum | Portland, ME

Posted Date 11/08/2019
Description Job Posting End Date: 12/07

Unum is a company of people serving people. As one of the world's leading employee benefits providers and a Fortune 500 company, Unum's financial protection benefits help protect more than 36 million working people and their families from the financial impact of illness or injury. Unum's three distinct, but similarly focused US businesses – Unum US, Colonial Life, and Starmount Life – are each a market leader in making disability, life, accident, critical illness, dental, and vision insurance accessible in the workplace.


Headquartered in Chattanooga, Tennessee, Unum has significant US operations in Portland, Maine, Worcester, Massachusetts, and Glendale, California with over 35 field offices nationwide. Colonial Life is headquartered in Columbia, South Carolina with over 40 field offices nationwide. Starmount Life is based in Baton Rouge, Louisiana, and is the dental and vision center of excellence for Unum in the US.




General Summary:

General Summary
The Assistant Vice President (AVP) Actuary for Individual Disability (IDI) within UNUM U.S. (UUS) is responsible for pricing new Life products, managing portfolio profitability and driving enhancements to the pricing analytical framework. In this role, you will leverage technical acumen and a strong Life product expertise to develop a framework upon which to make strategic decisions. You will drive (directly and through others) enhancements to the pricing analytics and modeling strategies while also developing a vision for optimally leveraging best practices across all Unum's product lines. The role guarantees broad, valuable business exposure and opportunities to partner with senior leadership on the strategic direction of the IDI and UUS businesses.

Principal Duties and Responsibilities

  • Develop and deliver executive level updates for key priority projects.
  • Drive the development of staff and key business partners through constructive feedback.
  • Set rates, rate structure and pricing algorithms for IDI products based on actuarially determined costs.
  • Makes recommendations on adjustments to the cost-based rates to reflect actual pricing in the marketplace.
  • Assist market development with product design, implementation, and marketplace analysis for the respective product line.
  • Executes experience studies to evaluate actual experience against pricing assumptions for both risk and expense.
  • Seek out and maintain cooperative, productive cross-functional partnerships throughout the global enterprise.
  • Keeps management informed of rate levels for both new and inforce business, based both on actual experience and projected experience, and recommends actions to optimize both profit and revenue. Exercise judgment to drive optimum solutions for complex issues. Provide concise, cohesive, well-articulated explanations to support recommendations.
  • Integrate with and supply pricing related support to the following areas: underwriting, macro pricing, other product line pricing actuaries and units reporting to the chief actuary as needed
  • Model positive change management, leading individuals and teams through new operating models, new methodologies and creating opportunities for discussion and deliberation. Drive the development and implementation strategies for large-scale, cross-functional, complex teams.
  • Build agility and resilience within teams and broader Finance organization to drive transformation.
  • Provide coaching and mentoring to assist individuals in achieving their full potential. Build bench strength and core competencies for the organization.
  • Responsible for managing a staff, including ASA, actuarial students, and actuarial analyst
  • May perform other duties as assigned

Job Specifications

  • Bachelors degree and FSA required, advanced degree preferred
  • 8+ years previous experience in Pricing one or multiple product lines
  • Member of the American Academy of Actuaries
  • Strong business background with ability to work closely with marketing and product areas in design and implementation of products
  • Strong negotiation and partnership skills, across all levels of management, with ability to influence and challenge decisions and processes.
  • Ability to frame up issues, options and solutions using financial data for business decision-making.
  • Ability to manage, develop and motivate a staff, including ASA, actuarial students, and actuarial analyst.
  • Experience navigating change with both individuals and teams.
  • Excellent project management skills.
  • Strong verbal and written communications skills, with acumen in both professional and business communications
  • Operates with strong conceptual thinking rather than strictly in a 'rules' framework.

#LI-MULTI

~IN1



Unum and its family of businesses offer world-class training and development, generous compensation and benefits packages, and a culture built on employee ideas.


Unum is an equal opportunity employer, considering all qualified applicants and employees for hiring, placement, and advancement, without regard to a person's race, color, religion, national origin, age, genetic information, military status, gender, sexual orientation, gender identity or expression, disability, or protected veteran status.




Geographic Region
Greater Portland/Casco Bay
Industry
Insurance

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