Pricing Actuary- Cyber

The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

The Global Actuarial Solutions, within Global Risk Solutions (GRS) is looking for a Cyber Pricing Actuary to advance the pricing sophistication and profitability of the line of business. This role will focus on the launch and maintenance of our global rater in support of the new global cyber product, aligning pricing strategies across the world. By leveraging the support of Business Segment Actuaries and the Cyber Product organization, the successful Actuary will drive improved pricing and market sensing that results in profit and appropriate growth throughout GRS. Strong expertise in advanced pricing techniques preferable in Cyber desired. May consider candidates with pricing experience in Financial lines and other specialty lines.

We are open to fill as a Actuary STP I (Grade 19)  or Actuary STP II (Grade 20) based on candidate experience.

Responsibilities

• Serve as an Actuarial partner and adviser to the Global Cyber team and Product Boards to develop product strategies
• Influence key strategic decisions related to Cyber, such as portfolio design and capital allocation
• Implement and maintain Global Cyber Rater, including Actuarial support for US filings, in collaboration with key stakeholders from product, Business Segment Actuaries, underwriting leads, technology and business agility leads, and operations
• Support Cyber product by contributing to initiatives on portfolio improvement, monitoring etc.
• Coordinate reviews with Cyber Risk Management, and Catastrophe Modeling team to formulate Cyber catastrophe loss ratio that should be used in profitability reviews and planning
• Synthesize and share competitive intelligence and insights on leading indicators to support market cycle sensing and performance monitoring
• Partner with Business Segment Actuaries to develop strategies around technical price and global pricing tool, with consistent pricing standards
• Support Product Planning and associated strategic posturing, as well as provide expertise throughout Financial Planning process
• Champion Cyber strategies with the relevant Actuarial teams, adjusting to local realities as needed
• Work with Cyber-focused actuarial leads within GRS businesses to translate global pricing strategies into execution level strategies.
• Responsible for integrated, GRS-level narrative across Pricing, Reserving, and Planning, working with Actuarial teams to gather and synthesize information and insights
• Create and maintain a feedback loop between Business Segment Actuaries, Reserving Actuaries, GRS Office of Underwriting, Product Boards and other relevant functions

• Bachelor`s degree required
• Fellowship in the Casualty Actuarial Society (FCAS) designation.
• Strong Cyber pricing expertise, as well as advanced pricing techniques, is desired.
• Minimum of 7-10 years of progressively more responsible experience in an actuarial role. Preferred candidates 1-3 years of Cyber Actuarial experience.
• Requires detailed knowledge of the operations and processes associated with the operational group
• Strong analytical skills with solid understanding of all Cyber actuarial techniques, standards, and assumptions
• This position requires an experienced and knowledgeable actuarial viewpoint in a wide variety of actuarial subjects, and in company, industry, and regulatory practices
• Knowledge should include data, methodologies, systems and platforms
• Advanced to expert knowledge of specialized software, actuarial and statistical methods, tools, and the existence of programming languages
• Able to undertake new processes/analysis based on cutting edge research and technologies, within and outside the insurance industry
• Focus efforts on staying competitive in the market
• Ability to grasp theoretical concepts
• Demonstrated ability to exchange ideas and convey complex information clearly and concisely, both verbally and in writing
• Ability to make decisions with incomplete information
• Ability to establish and build effective relationships within and outside the organization
• Ability to give effective training and presentations to senior management and other groups
• Ability to collaborate with Business Segment Actuaries and Office of Underwriting.

As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers. Through strong relationships, comprehensive benefits and continuous learning opportunities, we seek to create an environment where employees can succeed, both professionally and personally.  

At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.  

We are proud to support a diverse, equitable and inclusive workplace, where all employees feel a sense of community, belonging and can do their best work. Our seven Employee Resource Groups (ERGs) offer a centralized, open space to bring employees and allies together to connect, learn and engage.  

We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits 
 
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law. 
 
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