Head of Reinsurance Pricing

UFG is looking for an action-oriented actuarial leader with strong technical skills and business acumen to advance our reinsurance pricing framework and drive excellence in our actuarial pricing practices supporting the Alternative Distribution business unit. Alternative Distribution is a key strategic business for UFG as our third largest business unit providing profitable diversifying results across a broad spectrum of insurance exposures and treaty structures. The individual in this role will develop and lead a team that is fully engaged with the business. The Head of Reinsurance Pricing focuses on delivering deeply analyzed pricing and underwriting recommendations and insights to better inform decision-making related to individual reinsurance treaties and overall portfolio profitability. The role will include developing and maintaining strong relationships with the Alternative Distribution business leaders Finance and Reserving Actuarial partners. Initial efforts will include enhancing an existing pricing framework with new tools methodologies and practices designed to deliver reliable profitability guidance to the Alternative Distribution leadership team and underwriters.

Essential Duties and Responsibilities

• Manage the delivery of reinsurance pricing reviews for individual treaties and overall portfolio on assumed business to ensure the Alternative Distribution business unit meets or exceeds its profitability and growth targets
• Build and maintain individual treaty and portfolio pricing tools to manage overall profitability expectations and provide analytical insight to sustain a profitable and well diversified portfolio
• Complete industry analyses and reviews for assumed exposures to ensure a thorough understanding of market dynamics and maintain a current view of assumptions and parameters required to facilitate pricing and reserving for new and renewal opportunities
• Effectively communicate analyses and pricing results to a variety of technical and non-technical audiences across the organization. Maintain a thorough understanding of the portfolio profile and key accounts.
• Partner with UFG reserving department to ensure appropriate evaluations of portfolio profitability are properly reflected in financial reports
• Collaborate with all functions to improve data integrity efficiency and functionality of administrative portfolio management and financial reporting tools
• Ensure proper alignment between assumptions applied to UFGs actuarial processes in corporate reserving and core pricing operations where appropriate
• Collaborate with the business and Finance department to meet the corporate forecasting requirements as accurately as possible including quarterly forecasting and annual planning activities
• Support the economic capital modeling (ECM) process maintained in the risk office as directed. Work with the risk office to ensure that assumed reinsurance is properly modeled for strategic steering and capital management purposes.
• Mentor and develop actuarial staff including supporting their progression through the CAS exam process. Lead the team in developing a vision motivating employees and facilitating achievement of their full potential.

Job Specifications:

Education/Certifications:

• Fellow of Casualty Actuary Society (FCAS) preferred qualified Associates may also be eligible.
• Bachelors degree in mathematics actuarial science economics or related field
• Employees are expected to participate in continuing education throughout their careers.

Experience:

• 10 years of prior reinsurance pricing experience (or closely related) with at least 4 years in a leadership role
• Hands-on experience with mature experience and exposure pricing tools at an established reinsurance company

Working Conditions:

• Remote working arrangements are acceptable in this role. General office environment arrangements in one of our branch offices or the UFG home office will be made available if desired.
• Periodic travel required as determined by business needs which may include overnight stays including company events industry events and client meetings

Knowledge skills and abilities:

• Proven ability to develop and lead effective teams.
• Excellent communication and interpersonal skills including the ability to convey complex information clearly and concisely both verbally and in writing.
• Strong working knowledge of actuarial techniques and standards as well as other business operations including financial underwriting legal statistics claims sales etc.
• Ability to exercise discretion apply independent judgment and well-developed analytical critical thinking and creative problem-solving skills.
• Expert knowledge of Microsoft Office products including Excel Power Point Word and ability to develop proficiency with internal systems and reporting tools.
• Strong verbal and written communication skills with the ability to communicate technical analyses to a non-technical audience.
• Knowledge of commercial specialty and financial insurance products and general insurance/business knowledge.
• Able to manage and coordinate own projects using multiple resources.

Pay Transparency Statement:

UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $220000 - $250000 annually which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors including relevant experience education certifications skills internal equity geography and market data.

In addition to base salary UFG Insurance offers a comprehensive total rewards package that includes:

• Annual incentive compensation
• Medical dental vision & life insurance
• Accident critical Illness & short-term disability insurance
• Retirement plans with employer contributions
• Generous time-off program
• Programs designed to support the employee well-being and financial security.

This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.

Required Experience:

Director