Vice President & Actuary (Finance)

JOB DESCRIPTION

Position Title: Vice President & Actuary

Location: Philadelphia, PA (preferred)

Reports to: Lead Actuary of Major Accounts

Position Overview:

This position is responsible for leading the actuarial support team for Chubb Alternative Risk Solutions (CARS) and Defense Based Act (DBA). Key responsibilities include managing the team, large account pricing, account structuring, and capital and ROE modeling.

Duties and Responsibilities:

• Lead and manage the actuarial team supporting CARS and DBA.
• Participate in all CARS deals from submission to post-bind, coordinating with Underwriting, Finance, Accounting, Legal, Actuarial Management, and Claims.
• Perform and oversee loss rating analyses for all CARS prospective and retrospective clients, with over $1B of production in 2024.
• Model capital and ROE for varying account structures for each individual CARS deal, including the development of future additional/return premium features.
• Provide profitability analysis for the bound CARS portfolio in conjunction with annual renewals and requests from senior management.
• Meet with clients, brokers, and external actuarial consultants to discuss loss picks and trends on individual accounts.
• Follow all loss pick referral guidelines to direct manager and chief actuary.
• Prepare actuarial memos, including risk transfer analysis for all CARS deals referred to the Underwriting Committee and STRC.
• Perform all annual Additional and Return Premium calculations for bound deals using updated loss data and contract terms.
• Review all CARS indications, quotes, binders, and policies for accuracy.
• Oversee the performance of all bound CARS deals on a quarterly basis and present results to the business unit.
• Assist in the annual CARS reserve review by providing data and account structure information for each individual bound account, totaling $3B in carried loss reserves. Perform AP/RP analysis and Deferred Asset Re-amortization to be used in the reserve review. Respond to all internal and external audit questions regarding the CARS reserve review.
• Assist the capital modeling team with CV analysis for CARS business.
• Oversee pricing model updates, including LDF and trend factor updates.
• Oversee loss rating, pricing model updates, CAY, annual profitability study, reserve review, and Bridging for DBA.

QUALIFICATIONS

Qualifications:

ABOUT US

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.