Travelers Insurance Company Sr Director; Loss Analytics Commercial Auto Lead in Boston, Massachusetts
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.
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.
$132,100.00 - $217,900.00
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 Sr. Director, Actuarial and Analytics is an analytic leadership role that is responsible for assigned unit typically involved in reserving, rate-making, pricing, planning/forecasting, project management and research. This role is expected execute strategic and operational initiatives, drive change within assigned unit and influence leaders up to the VP level with business partners in assigned area, and share ownership of business financial results. The Sr. Director, Actuarial and Analytics will work within broad limits and authority on complex initiatives requiring specialized knowledge and expertise in breadth and/or depth in several of the following areas: Actuarial and/or research methods Advanced statistical analyses Broad business knowledge In-depth Line of Business knowledge Broader awareness of enterprise Actuarial & Analytics community This role may lead a team.
Loss Analytics is looking for a highly motivated individual to lead our Business Insurance Auto Loss Analytics and Reserving team. This position is responsible for the reserve adequacy of $5B in reserves across many business units. This is a strategic role with key partnerships across the entire enterprise, including Personal Insurance, Claim, Actuarial Pricing, and Product.
Responsible for managing $5B of reserves across Commercial Auto book
Prepare quarterly reserve review packages by business unit, focusing on both accuracy and concise storytelling to business partners
Monitor and create current year estimates, including trend selections and initial loss analysis, for use in both pricing and reserving
Accelerate integration of data science techniques for both reserve indications and explainability, partnering with Analytics and Research team
Create loss monitoring framework for new Travelers Commercial Auto Product, TCAP
Partner across enterprise with Personal Insurance partners to collaborate and compare across auto lines
Derive key analytic insights and create business strategies in partnership with key business partners from claim, actuarial pricing, and product.
This position will manage a team of 5 full time employees.
What Will You Do?
Assess, prioritize, influence and communicate strategic initiative options to senior leaders.
Demonstrate effective execution and completion of assigned strategic initiatives and projects.
Generate and advocate for process improvements and actively propel innovation in alignment with existing strategy.
This position will lead assigned unit strategic initiatives and cross-unit initiatives and is expected to participate in Enterprise initiatives on a limited basis.
Independently perform actuarial and analytic analyses to solve business problems and apply judgment appropriately.
Drive day to day execution within unit. Begin to drive broad department initiatives.
Promote efficiency across primary working group, balancing additional effort against incremental lift gained from work.
Make decisions independently in accordance with department practices.
Consistently provide direction and review others' analytical work.
Begin to translate ambiguous business needs into analytical solutions.
Provide support as necessary for initiatives across the Enterprise within the scope of influence.
Communicates on a regular basis with staff, peers and business partners and on an occasional basis with senior leaders.
Tailors communication of analysis, project results, and other business initiatives to audience.
Communicates technical topics to non-technical audiences.
Leads group discussions with primary working group.
Creates formal written communication such as memos or presentations.
Able to influence and collaborate with peers and partners to take actions to enhance business outcomes.
Staff responsibilities are likely to include direct management of a small team of individual contributors.
Acquisition, retention, and development of talent for assigned unit.
Execute and communicate talent development processes, including performance and personal development goals.
Succession planning and talent assessment recommendations.
Support staff engagement cross Enterprise initiatives.
Mentor less experienced talent across the Enterprise.
Onboard new employees and interns in unit.
Support various training and skill development initiatives across 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.
8+ years of quantitative analysis experience.
Strong understanding of insurance products and industry.
Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
Excellent communication, collaboration and relationship-building skills.
Excellent communication skills with the ability to present and translate complex information to leadership and non-technical teams.
Strong PC skills (MS Office) and programming skills (eg. SQL, SAS).
Begins to challenge conventional thinking.
Takes ownership of projects related to strategic initiatives and often makes independent recommendations to influence business outcomes.
Proficient in Leading Self including exhibiting decisiveness and self-awareness while also effectively managing ambiguity.
Development of Leading Others including modeling the way for others and leading cross-unit projects.
Initial development of Leading the Business including actively engaging in driving business results, broad thinking and promoting an Enterprise culture.
Has an in-depth understanding and knowledge of certain key 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 and implementing analytic solutions.
Has perspective on the industry and developing trends, including: technology, analytic methodology, products, and performance of competitors.
Is familiar with most other key business drivers and disciplines.
Proactively build and own professional business relationships across the Enterprise.
Generate and solicit ideas, and drive consensus
Aware of potential conflict and address proactively.
Acknowledge accomplishments of others to broader organization.
Set and manage expectations with business partners for portfolio of projects.
Understand diverse perspectives to effectively accomplish business goals.
Able to introduce innovative techniques to both new and existing problems.
Independently perform and implement complex analytics.
Leads and actively engages in technical/peer reviews.
Regularly offers technical consultative feedback.
Can assess various technical solutions to optimize analytical outcomes.
Occasionally recognizes emerging issues that require a quantitative solution within own portfolio of work.
What is a Must Have?
Bachelors Degree or equivalent experience required.
5 years of comprehensive quantitative analysis experience 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.
The Work Arrangement for this position is based on location
Travelers is an equal opportunity employer. We believe that we can deliver the very best products and services when our workforce reflects the diverse customers and communities we serve. We are committed to recruiting, retaining and developing the diverse talent of all of our employees and fostering an inclusive workplace, where we celebrate differences, promote belonging, and work together to deliver extraordinary results.
If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email (4-ESU@travelers.com) 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/ .
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