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Manager Actuarial & Analytics

Saint Paul, Minnesota

Who Are We?

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$95,000.00 - $156,700.00

Target Openings

1

What Is the Opportunity?

In Business Insurance Actuarial and Analytics, we deliver tailored analytics and innovative data science solutions that influence decisions and enable superior results. We have an inclusive culture where everyone feels that they belong, can be authentic, are valued, respected, empowered and part of our success. We see strength in the uniqueness that each of us contributes to creating innovative solutions and improving business outcomes.

The Manager, Actuarial and Analytics is an analytic leadership role that encompasses the shared responsibility of project and strategic execution with actuarial, analytic and business partners, in addition to assigned operational assignments which may include reserving, rate-making, pricing, planning/forecasting, project management and research. The individual in this role is expected to be an influential member of project teams, providing analytical insights and recommendations to leadership and Business unit partners. The Manager, Actuarial and Analytics will work on complex assignments requiring specialized knowledge and expertise in breadth and/or depth in one or more of the following areas: Actuarial and/or research methods Advanced statistical analyses Solid business knowledge Line of Business knowledge

This position will be a member of the Central Booking team providing support for Loss Reserving and Revenue Accrual booking and reporting. The Central Booking team is responsible for the timely and accurate booking, reporting and maintenance of 30+ billion in loss reserves, along with ~200 million in retro and deductible revenue accruals.

What Will You Do?

Strategy:

  • Participate in a lead role in the successful execution and completion of assigned strategic initiatives and projects.

  • Develop solutions to resolve challenges of an initiative.

  • Propose change and innovation in order to improve project team performance and timelines.

  • This position will often participate on cross-unit initiatives and may participate on Enterprise initiatives.

Operational:

  • Maintenance of the many booking and reporting tools and processes such as SATURN (Subsequent Activity Total Ultimate Reserve Need), LRRF (Loss Ratio Rollforward), monthly and quarterly close notes documentation for SOX controls, MERCURY (Month End Reporting and CURent Year) Reserve Difference reporting for Corporate Reserve Meetings, CLAS (Commercial Lines Accrual System), Revenue Accrual Triangle and Reporting, etc. in addition to the actual booking of loss and revenue reserves via LRRS (Loss Reserving and Reporting System) and the general ledger.

  • In addition to standard monthly and quarterly duties the team is responsible for identifying and implementing needed efficiencies, reducing reliance on outdated technology, and improving transparency.

  • Independently perform actuarial and analytic analyses to solve business problems and apply judgment appropriately.

  • Support and drive components of unit initiatives. Begin to support broad department initiatives.

  • Take accountability for process efficiencies within assignments.

  • Begin to make proposals in accordance with department practices.

  • Provide support as necessary for initiatives across the Enterprise within the scope of influence.

Communication:

  • Communicates analysis, project results, and other business initiatives to peers and business partners.

  • Communicates technical topics to non-technical audience within the primary working group with guidance from manager.

  • Actively participates and may lead group discussions at the unit level.

  • Creates formal written communication such as memos or presentations with guidance and peer review.

  • Networks and collaborates on ideas and challenges.

Talent:

  • Retention and development of assigned staff.

  • Execute and communicate talent development processes, including performance and personal development goals.

  • Talent assessment recommendations.

  • Performance management.

  • Mentor less experienced talent across the Enterprise.

  • Onboard new employees and interns in unit.

  • Support various training and skill development initiatives across assigned Segment and the Enterprise.

  • May provide support for recruiting efforts and candidate talent assessment efforts.

  • Perform other duties as assigned.

What Will Our Ideal Candidate Have?

  • College degree in STEM related field.
  • Associate Actuarial Credential preferred.
  • Strong PC skills (MS Office) and programming skills (eg. SQL, SAS).
  • 4+ years of quantitative analysis experience preferred.
  • Strong understanding of insurance products and industry.
  • Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
  • Demonstrated ability to manage projects.

Leadership:

  • Take ownership of assigned projects and meetings, make recommendations and presents results to business partners.
  • Proficient in Leading Self, exhibiting self-awareness while also effectively managing ambiguity.
  • Initial development of Leading Others, including mentoring/training team members.
  • Initial development of Leading the Business, including actively supporting business goals and being a positive member of the Enterprise culture.

Business Acumen:

  • Has an in-depth understanding and knowledge of a few basic business drivers and disciplines such as: underwriting, products, reinsurance, distribution, sales, operations, risk control, claim, and financials.
  • Able to effectively utilize this business knowledge in developing analytic solutions.
  • Has a foundational perspective of the primary industry and developing trends such as: technology, analytic methodology, products and performance of competitors.
  • Is familiar with a couple other key business drivers and disciplines.

Relationship Management:

  • Proactively build and own professional business relationships across the BI&AA community across the Enterprise.
  • Generate and solicit ideas, and begin to build consensus with guidance.
  • Aware of potential conflict and begins to addresses with guidance.
  • Begin to set and manage expectations with business partners for small projects.

Quantitative Analysis:

  • Evaluate and use appropriate data, tools and methods.
  • Able to perform analytics independently, can effectively plan next steps within analyses with little oversight.
  • May perform technical review of team work product.
  • Able to contribute on more complex analytical work with guidance.
  • Familiar with systems such as LRRS, FACTS, RHIF, or Book Rev Event a plus.

What is a Must Have?

  • Bachelors Degree or equivalent experience required.
  • 2 years of experience in quantitative analysis required.

What Is in It for You?

  • Health Insurance: Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
  • Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
  • Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
  • Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Travelers offers a hybrid work location model that is designed to support flexibility. 

#LI-Hybrid

This position may be based 100% remotely or in one of our offices.

#LI-Remote

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. 


If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.


Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.


About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.