Lead Pricing Actuary

Job DescriptionLead Pricing ActuaryJob OverviewThe Lead Pricing Actuary is responsible for developing and maintaining loss triangles, pricing models, and rate-level indications for the various products that we underwrite. This critical role also includes creating and improving existing rating engines for the various lines of business, defining and maintaining data sets, and establishing robust reporting metrics.  The actuary will work closely with the Office of the OCEO and Underwriting teams to ensure that pricing guidelines and strategies align with the company's business goals and objectives.Job ResponsibilitiesDevelop and refine pricing models and methodologies for Old Republic Professional (ORPRO) lines of business, including Directors and Officers (D&O), Employment Practices Liability (EPL), Fiduciary Liability, Crime, Fidelity Bond and Lawyers Professional Liability.Conduct in-depth analysis of historical claims and underwriting data to identify key risk factors and coefficient weightings driving loss costs. Assess potential risks and their financial impact.Examine and monitor market trends and competitor pricing to maintain our competitiveness in the market.Prepare and present data utilized during annual reinsurance renewal.Ensure that all pricing models comply with Old Republic International's regulatory and compliance standards.Design, develop, and generate regular reports to monitor key metrics such as rate change, exposure change, and rate adequacy relative to selected loss picks. Perform comprehensive profitability analyses and clearly communicate findings to ORPRO leadership, ensuring pricing supports strategic objectives.Lead quarterly discussions on emerging profit and loss trends with a multidisciplinary leadership team.Deliver high-quality work within established timelines, demonstrating autonomy and minimal supervision.Effectively manage multiple projects simultaneously, balancing priorities and deadlinesCommunicate results and insights clearly and effectively.Adhere to ORPRO's operational guidelines and codes of conduct.Job RequirementsA bachelor's degree is required.  7+ years of experience.FCAS is required.Strong analytical and problem-solving skills and a passion for using data to drive business decisions are essential.Self-starter with excellent planning, organization, and time management skills.Exceptional communication skills and customer service abilities are necessary including effective communication with non-actuaries.Ability to work both independently and as part of a team is crucial.Skilled in defining problems, collecting data, establishing facts, and drawing valid conclusions, with keen attention to detail.Proficiency in Microsoft Office products, particularly Excel, is required.Maintaining awareness of industry trends and identifying emerging risks is essential.LocationLocation: Downtown - Chicago, ILJob Type: Full-timeRemote Work: Hybrid, minimum 3 days in the office to promote collaboration and interaction with associates onsite.About Old Republic Professional (ORPROâ„¢)Old Republic Professional (ORPROâ„¢), established in December 1983, is a subsidiary of Old Republic International Corporation (NYSE: ORI), one of the nation's 50 largest shareholder-owned insurance businesses and a member of the Fortune 500 listing of America's largest companies. Old Republic Professional has provided Directors and Officers liability insurance and Lawyers Professional liability insurance for more than 40 years and now offers a wide array of management liability and professional liability products across an expanding national footprint in the U.S.CultureWork-life balance is highly valued; work culture is collaborative; colleagues are professional, passionate, open-minded, and entrepreneurial. We offer competitive wages, a comprehensive benefits package, a friendly, team-oriented environment, and we encourage and reward the professional growth of our employees. Employee benefits include BCBS medical, FSAHSA accounts, long-term disability, dental, vision, fertility and family building benefits, Employee Assistance Program, paid time off (PTO), paid holidays, Paid Leave of Absence Benefits, 401(k) Savings and Profit-Sharing Plan, 529 Education Savings Plan, Gym Network 360 membership savings on fitness, nutrition and wellness programs, pet insurance, monthly commuting reimbursement, and tuition reimbursement for qualified job-related educational expenses.Equal Employment OpportunityOld Republic Professional provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.

Created: 2025-02-23