Actuarial Lead – Commercial Transportation

IAT Insurance Group has an immediate opening for a primary actuarial lead for assigned business units.  To be effective, a solid knowledge of commercial transportation is highly preferred.  The ideal candidate will be able to conduct pricing analysis, reserving work, contributing to predictive modeling efforts and implementation, maintain rates, assist in rate filings, coordinate annual planning, and provide other business support.  They will have the ability to lead a team of analysts.   The role manages a team of analytics professionals that support the business.    

As a member of the team, the role works a hybrid schedule from one of the IAT's offices within the Central or Eastern time zones. Preferred locations include but are not limited to Rolling Meadows, IL, Naperville IL, , Alpharetta, GA, Raleigh, NC. The hybrid schedule reflects our values (thinking and acting like an owner, collaboration, and teamwork) as it requires working from the office with colleagues and other disciplines Monday through Wednesday, with the option of working remotely on Thursday and Friday.

Internally this role has the title of AVP, Actuary.

Responsibilities:

• Provides leadership to assigned staff by managing projects; developing and empowering staff; putting staff in a position to succeed, driving engagement, and creating a climate where staff are motivated to do their best.
• Possesses a level of versatility to learn new lines of business, balance multiple projects, and a desire to develop and grow within this role.
• Ability to cultivate relationships between the actuarial/analytics unit and other functional support units within the organization through collaboration and communication.
• Develops tools to measure and monitor profitability by business unit and product.
• Identifies trends in claim frequency and claim severity.
• Creates reports to measure and monitor rate, action-taken, and its impact on retention and new business growth.
• Develops and maintains a capital allocation model to measure the risk-adjusted performance of each business unit.
• Gathers data, analyzes information and has the skills to understand and communicate the results across to the organization.
• Estimates and recommends loss reserves to be carried in the company’s financial statements.
• Determines rates to be charged for each product.
• Develops rate-making templates and provides support for state-by-state rate filings.
• Collaborates with underwriting, claims, IT, and senior management on the development of new products or improvements to existing products.
• Provides an economic view of reinsurance purchase options.
• Performs other duties as assigned.
  
  
  

Qualifications:

Must-Have:

• Requires a Bachelor’s degree and at least ten years of related work experience or equivalent.
• Equivalent to a degree and ten years, one must have at least fourteen years of related work experience. 
• Must have a solid background in the P&C commercial insurance space, including familiarity with ISO forms/rules. Eager to learn new lines of business and strong desire to be part of a team.
• Ability to self-motivate and drive to succeed, prior experience of demonstrated goal achievement required, ability to lead and manage a team, and extensive knowledge of the insurance industry.
• Must have experience providing on-the-job training to staff or through management, works with direct management reports, and extended actuarial and business intelligence staff.
• Must be able to work independently and have superb oral and written communication capabilities.
• Ability to work effectively in a highly collaborative team environment.
• Ability to build and maintain a network of relationships.
• Strong work ethic, commitment to meeting deadlines.
• Demonstrated initiative, self-starter, with strong analytical and problem-solving skills.
• Results-oriented, this person must have the ability and experience to quickly gain the respect of others within IAT Insurance Group, the industry, and the community in which they exist.
• To qualify, all applicants must be authorized to work in the United States and must not require, now or in the future, VISA sponsorship for employment purposes.
  
  
  

Preferred:

• FCAS preferred but not required.
• Masters degree.
• Strategic mindset with an ability to plan and execute strategies.
• A strategic thinker, a self-starter with strong analytical and problem-solving skills.
• Experience working with data analytic teams.
• Our Culture IAT is the largest private, family-owned property and casualty insurer in the U.S. Insurance Answers Together® is how we define IAT, in letter and spirit. We work together to provide solutions for people and businesses. We collaborate internally and with our partners to provide our customers with the best possible insurance and surety options.
  
  
  

At IAT, we’re committed to driving and building an open and supportive culture for all. Our employees propel IAT forward – driving innovation, stable partnerships, and growth. That’s why we continue to build an engaging workplace culture to attract and retain the best talent.

We offer comprehensive benefits like:

• 26 PTO Days (Entry Level) 12 Company Holidays = 38 Paid Days Off
• 7% 401(k) Company Match and additional Profit Sharing
• Hybrid work environment
• Numerous training and development opportunities to assist you in furthering your career
• Healthcare and Wellness Programs
• Opportunity to earn performance-based bonuses
• College Loan Assistance Support Plan
• Educational Assistance Program
• Mentorship Program
• Dress for Your Day Policy
  
  
  

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.  We maintain a drug-free workplace and participate in E-Verify.

Compensation:

Please note, that the annual gross salary range for this posting is $139K to $177K. This range represents the anticipated low and high end of the base salary for this position. The total compensation will include a base salary, performance-based bonus opportunities, 401(K) match, profit-sharing opportunities, and more. Actual salaries will vary based on factors such as a candidate's qualifications, skills, competencies, and geographical location related to this specific role.

To view details of our full benefits, please visit https://www.iatinsurancegroup.com/careers/benefits

IAT Recruiter:

Steve Morley | Senior Recruiter

steve.morley@iatinsurance.com

www.linkedin.com/in/stevemorley916