Senior Consultant (Actuarial & Analytics)

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.

Job Category

Actuarial

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

$86,400.00 - $142,600.00

Target Openings

1

What Is the Opportunity?

The Sr. Consultant, Actuarial and Analytics is an analytic role that encompasses the personal ownership of operational assignments and support of strategic assignments which may include reserving, rate-making, pricing, planning/forecasting, project management and research.

The individual in this role is expected to have a high level of partnership within assigned unit and across projects, and be an influential member of project teams, providing analytical insights to leadership and Business unit partners.

This role involves working across many lines of business to support the filed rating plans within Business Insurance. Responsible for developing and implementing rates, rating plans, and pricing strategies to achieve the company objectives for profitability and growth.

It offers exposure to many enterprise disciplines and has involvement with many different groups across Travelers. The position requires an individual with excellent communication, analytical and problem-solving skills, and attention to detail.

Candidate will be responsible for routine projects as well as leading more complex research or rate plan management initiatives. Position based in St Paul, MN or Hartford, CT.

What Will You Do?

• Assist in developing and implement rates, rating plans, and pricing strategies across all lines of business to achieve the company objectives for profitability and growth.
• Creation and maintenance of rate plans, manuals and pages.
• Monitor marketplace, industry trends, and professional research to maintain knowledge of current activities related to products, regulations, and market conditions.
• Prepare state filing packages and Department of Insurance (DOI) responses.
• Recommend and initiate improved efficiencies and automation.
• Ensure successful implementation of filed rates into Rate Quote Issue (RQI) systems.

Strategy:

• Participate on strategic projects with execution responsibility for assigned project sub-components.
• Recommend and execute solutions for assigned project to resolve challenges of an initiative.
• Execute work thoughtfully and efficiently as a team member to improve project team performance and timelines.
• This position may participate on cross-unit and Enterprise initiatives.

Operational:

• Independently refresh actuarial and analytic analyses, perform new analysis with guidance, and begin to apply judgment.
• Support and begin to drive components of unit initiatives.
• Begin to take accountability for process efficiencies within assignments.
• Provide support as necessary for initiatives across the Enterprise within the scope of influence.

Communication:

• Communicates progress, findings and results to manager and peers.
• Communicates technical topics to primary working group.
• Actively participates in group discussions.
• Provides formal written communication such as memos or presentations with supervision.

Talent:

• May be a mentor or resource for less experienced analytic talent within assigned Segment.
• 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?

• 3 or more Actuarial exams preferred.
• College degree in STEM related field.
• Strong PC skills (MS Office), basic programming skills (eg. SQL, SAS).
• 2+ years of quantitative analysis experience preferred.
• Developing understanding of insurance products and industry.

Leadership:

• Development of Leading Self, exhibiting self-awareness and seeking opportunities to learn while also starting to manage ambiguity.
• Initial development of Leading Others, including mentoring/training team members.
• Initial development of Leading the Business, including being a positive member of the Enterprise culture.

Business Acumen:

• Has an understanding and knowledge of a few basic 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 analytic solutions.
• Has a foundational perspective of certain areas of the 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:

• Begin to develop professional business relationships across the BI&AA community within Segment.
• Generate and solicit ideas.

Quantitative Analysis:

• Able to use appropriate tools to compile and analyze data effectively.
• Perform basic-level analytics working more independently and effectively with awareness of materiality and reasonability, foreseeing more next steps.
• May perform technical review of unit work product.

What is a Must Have?

• Bachelors Degree or equivalent experience required.
• 1 year 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.
• 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, discounts and resources that empower you to achieve your wellness goals and caregiving needs.
• Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved.

Employment Practices

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.