VP of Actuarial Services Salary in Odessa, Texas

VP of Actuarial Services provides leadership, innovation, and oversight to an organization's actuarial function. Develops policies, procedures, and formulas to guide statistical analysis and actuarial research and accurately evaluate the likelihood and financial impact of various risks. Being a VP of Actuarial Services ensures policies and procedures are implemented effectively to ensure regulatory compliance of all financial operations and products. Responsible for the strategic planning and oversight of product development. Additionally, VP of Actuarial Services 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 Services 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. To be a VP of Actuarial Services typically requires 8+ years of managerial experience. Comprehensive knowledge of the overall departmental function. (Copyright 2024 Salary.com)... View full job description

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