Actuarial Leader - Reserving (REMOTE OR MA BASED)

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.

Our Corporate Actuarial department is seeking an Actuarial Leader for Reserving to join our growing team in Worcester, MA or remote work arrangement.

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This is a full time, exempt position.**

POSITION OVERVIEW: 

As an Actuarial Leader (AVP or Director) you will provide leadership, direction-setting and delivering key initiatives for the Corporate Actuarial Reserving department. This position will report directly to the Vice President & Lead Actuary of the Corporate Actuarial Department with management oversight of a team and be directly responsible for the reserving function for one or more business units (Personal Lines, Commercial lines, Specialty Lines) and its associated lines of business. 

As a leader in the Reserving department, this individual is responsible for helping to ensure the strength of Hanover’s balance sheet and providing management with critical insights through the analysis process. Various forms of analysis include a formal quarterly review of the loss and alae reserves by accident year, appropriate business unit segmentation of carried reserves, an annual ULAE reserve review, a forecast of the ex-cat loss and alae ratios for the corporate financial plan, and “deep dives” such as impacts of Covid-19 related dynamics on development patterns. An effective candidate will also be a change agent by identifying and facilitating improvements and enhancements to our current processes.

Effective communication skills are critical, as a high level of collaboration with the Business (Underwriting & Pricing), as well as Claims, Accounting, Finance is expected. Additionally, this role provides a high degree of exposure to executive leaders.

This is a Full-time, Exempt role.

IN THIS ROLE, YOU WILL: 

• Manage and lead a team, ensuring execution of deliverables alongside personal growth of individual team members
• Is accountable for deadlines associated with the financial quarterly close
• Monitoring reserve adequacy and communicating of trends to executive leadership
• Responsible for exploring ways to continually improve processes and enhance efficiencies
• Partners with the Business (Underwriting & Pricing), as well as Claims, Finance and Accounting across the organization to build credibility of the actuarial department and make appropriate decisions
• Ability to influence and negotiate the appropriate actions to support strategic goals of the organization
• Responsible for communicating results/issues to upper-level management
• Responsible for performance and compensation management for team
• Work effectively both independently and in a team environment.
• Have excellent written and oral communication skills. Demonstrated ability to present subjects clearly to both technical and non-technical audiences.
• Be a strategic thinker; balancing short- and long-term objectives.
• Provide leadership across the actuarial and analytics community by leading initiatives, promoting a culture of innovation, and fostering mentorship

WHAT YOU NEED TO APPLY: 

• Bachelor’s Degree or higher in a relevant technical field
• Ten+ years of technical experience in multiple LOB and/or actuarial disciplines such as pricing, reserving or advanced analytics.
• Prior management experience, preferably 4+ years
• ACAS required, FCAS preferred
• Advanced communication skills
• Advanced skills using Microsoft Office, including Excel
• Intermediate programming skills, including the ability to develop and automate processes
• Able to apply and interpret company policies and procedures
• Able to direct activities of others, motivate and develop staff
• Growth Mindset – Embraces a creative approach and a changing environment. Seeks to improve processes, constantly seek to learn, apply new techniques, challenge others and themselves to find a better way
• Relationship Building - Understands the importance of developing and maintaining cooperative relationships with others at all levels of the organization by making others feel their concerns and contributions are important. Builds positive relationships with others to accomplish organizational goals.
• Influencing Others - Communicates ideas or positions in a persuasive manner that build support, agreement, or commitment. Takes actions that directly or indirectly influence others to create buy-in, gain trust, and motivate actions in others or win concessions without damaging relationships.
• Results Orientation - Excited by challenging goals and a desire to exceed standards of excellence. Exceeding the standard can include challenging personal goals, organization's standards, or current industry standards. Exhibits a true sense of competitiveness and a drive for results. Has a strong desire to win in the most challenging of circumstances and the fortitude to take calculated risks to achieve personal objectives and goals, organization's standards, or current industry standards.
• Talent Developer - Proactively fosters building, mobilizing and evaluating the organizations' human assets. Establishes performance goals and measures to accomplish organizational goals.
• Authorizes individuals to take initiative and make expedient, practical decisions that impact the performance or success of an event or project. Share’s knowledge, skills or expertise with others; coaches others. Encourages and rewards learning, growth, etc., in others. Supports continual development of staff through assignments, coaching, and training.
• Business Enterprise Knowledge - Understands how one's own function adds value to the organization and to customers. Makes decisions and recommendations clearly linked to the organization's strategy and financial goals, reflecting an awareness of external dynamics. Demonstrates awareness by providing clear explanations for actions taken relative to customer requirements, needs, and industry trends.
• Strategic Thinking - Examines issues and plans with a long-term perspective. Able to critically evaluate external and internal factors.
• Change Management - Designs and transforms an organization based on assumptions of human capability and resiliency. Understands the basic human patterns that operate during change, and effectively focuses the organization's capability on an effective transformation. Focuses and energizes a group to accomplish change together and holds them accountable to common goals.
• Decisiveness - Makes decisions by quickly assessing the scope of an issue and providing options leading to its closure. Determines appropriate options based on the situation and effectively includes key stakeholders in the decision-making process.

CAREER DEVELOPMENT:

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include:

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits

EEO statement:

The Hanover values diversity in the workplace and among our customers.  The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.  

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.” 

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities.  Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: [email protected] and include the link of the job posting in which you are interested.

Privacy Policy:

To view our privacy policy and online privacy statement, click here.  

Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here**.
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