VP of Actuarial Operations Salary in West Boothbay Harbor, Maine

The VP of Actuarial Operations develops policies, procedures, and formulas to guide statistical analysis and actuarial research and accurately evaluate the likelihood and financial impact of various risks. Provides leadership, innovation, and oversight to an organization's actuarial function. Being a VP of Actuarial Operations is responsible for the strategic planning and oversight of product development. Ensures policies and procedures are implemented effectively to ensure regulatory compliance of all financial operations and products. In addition, VP of Actuarial Operations establishes profitability targets and regularly reviews product rates, premium levels, and rating systems to evaluate effectiveness and measure performance against targets. Reviews and validates financial statements, regulatory filings, and other financial projections before publishing or submitting. Communicates with marketing and other key stakeholders to present rating structures and systems and ensure adequate understanding of products. Applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Requires a bachelor's degree. May require Associate of Society of Actuaries (ASA). May require Fellow of Society of Actuaries (FSA). Typically reports to top management. The VP of Actuarial Operations manages a departmental function within a broader corporate function. Develops major goals to support broad functional objectives. Approves policies developed within various sub-functions and departments. Working as a VP of Actuarial Operations typically requires 8+ years of managerial experience. Comprehensive knowledge of the overall departmental function. (Copyright 2024 Salary.com)

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