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Director, P&C Pricing Actuary

Why USAA?Let’s do something that really matters.At USAA, we have an important mission: facilitating the financial security of millions of U.S. military members and their families. Not all of our employees served in our nation’s military, but we all share in the mission to give back to those who did. We’re working as one to build a great experience and make a real impact for our members.We believe in our core values of honesty, integrity, loyalty and service. They’re what guides everything we do – from how we treat our members to how we treat each other. Come be a part of what makes us so special!The OpportunityThis director role will lead a pricing actuarial team focusing on developing and implementing innovative pricing strategies. This role requires collaboration across departments to optimize pricing and business goals. This leader may also have the following responsibilities to include: plan, organize, direct, and staff actuarial activities required to analyze and achieve target pricing levels. Develop new products or rating structures, actuarial information and application requirements while balancing market and financial goals.Roles available for both the Auto Pricing and Specialty Pricing teams.We offer a flexible work environment that requires an individual to be in the office 4 days per week. This position can be based in one of the following locations: San Antonio, TX, Plano, TX, Phoenix, AZ, Colorado Springs, CO, Charlotte, NC, or Tampa, FL. Relocation assistance is not available for this position.What you'll do:• Oversee the development of product line pricing assumptions and price structure while ensuring price level objectives are met.• Direct the development of new products and implementation of process improvements.• Provide short and long-term planning recommendations for unit objectives by developing and analyzing forecasts.• Manage and is accountable for the work of assigned employees.• Perform personnel management functions, including employee selection, team building, project/workload assignment, employee training, monitoring of work activity and performance evaluation.• Ensure that product prices and designs are congruent with the company's product strategy and goals.• Facilitate the development and implementation of products and projects.• Monitor competitive market, industry trends, and professional research to maintain knowledge of current activities related to products, regulations, market conditions, and innovative alternatives to achieve financial and market goals.• Represent USAA's interest at industry level committee meetings.• Ensure risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.What you have:• Bachelor’s Degree; OR 4 years of related experience (in addition to the minimum years of experience required) may be substituted in lieu of degree.• 8 or more years relevant experience.• 3 or more years of direct team lead or management experience required.• Five (5) exams of the Casualty Actuarial Society.What sets you apart:• Associate or Fellow of the Casualty Actuarial Society• Experience leading teams through effective collaboration, communication, learning, and mentorship• A passion for leading through the development and execution of creative, innovative actuarial work• Strong experience translating detailed analytics into manageable visualizations and communicating/presenting the results concisely to executive leadership• Experience working on multiple projects, managing competing priorities, and prioritizing workflow through strong partnerships with business partners• Working knowledge of data analytic tools and Python/R/SQL or other language and a high level of ability to direct others in their use of these tools• Expert problem-solving, critical thinking, and analytic skills• Expert understanding of Personal Lines pricing, with experience using a variety of methodologies, tools, and models• US military experience through military service or a military spouse/domestic partnerThe above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.What we offer:Compensation: USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market data of the position. The actual salary for this role may vary by location. The salary range for this position is: $138,230 - $264,200.Employees may be eligible for pay incentives based on overall corporate and individual performance and at the discretion of the USAA Board of Directors.Benefits: At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.For more details on our outstanding benefits, please visit our benefits page on USAAjobs.com.Applications for this position are accepted on an ongoing basis, this posting will remain open until the position is filled. Thus, interested candidates are encouraged to apply the same day they view this posting.USAA is an equal opportunity and affirmative action employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, national origin, age, disability, genetic information, protected veteran status, or any other legally protected characteristic.
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Average salary estimate

$201215 / YEARLY (est.)
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$138230K
$264200K

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What You Should Know About Director, P&C Pricing Actuary, USAA

At USAA, we're on a mission to provide financial security to millions of U.S. military members and their families. As the Director, P&C Pricing Actuary, you'll play a pivotal role in leading a pricing actuarial team focused on developing innovative pricing strategies. In this engaging position, you will collaborate with various departments to optimize pricing while aligning with our overall business goals. You'll oversee the development of product line pricing assumptions, ensure pricing objectives are met, and direct the creation of new products. This isn't just about the numbers—it's about making a real impact for our members by balancing market demands with financial goals. We value teamwork and creativity, so your leadership will be crucial in fostering an environment where your team thrives. You'll monitor market trends, represent USAA at industry events, and manage the performance and growth of your team. Moreover, as a leader who values integrity and service, you'll embody our core values and inspire others to do the same. The role allows flexibility, requiring in-office attendance four days a week, and can be based in several locations across the U.S. Join us, and be a part of something incredible, where you can truly make a difference!

Frequently Asked Questions (FAQs) for Director, P&C Pricing Actuary Role at USAA
What are the responsibilities of the Director, P&C Pricing Actuary at USAA?

The Director, P&C Pricing Actuary at USAA leads the pricing actuarial team and is responsible for developing and implementing innovative pricing strategies. Key responsibilities include overseeing product line pricing assumptions, ensuring objectives are met, and directing new product development. This role also involves collaborating across departments to optimize pricing goals and implementing process improvements.

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What qualifications do I need to be a Director, P&C Pricing Actuary at USAA?

To qualify for the Director, P&C Pricing Actuary position at USAA, you need a Bachelor’s degree or a combination of education and experience totaling four years. Additionally, candidates should possess 8 or more years of relevant experience and at least 3 years of direct management experience. Completing five exams of the Casualty Actuarial Society is required.

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What makes the Director role at USAA unique compared to other actuarial positions?

The Director, P&C Pricing Actuary role at USAA is unique because it combines technical actuarial expertise with leadership in promoting financial security for military families. This position encourages innovation and cross-department collaboration while upholding USAA's core values of honesty, integrity, and service.

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What are the opportunities for professional development as a Director, P&C Pricing Actuary at USAA?

At USAA, we offer a robust career path planning and continuing education program for our employees. As a Director, P&C Pricing Actuary, you will have access to various resources aimed at enhancing your professional and personal growth, including mentorship opportunities and training related to new actuarial methods and tools.

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How does USAA support work-life balance for the Director, P&C Pricing Actuary position?

USAA is committed to providing a flexible work environment. While the Director, P&C Pricing Actuary role requires an individual to be in the office four days a week, we prioritize employee health and well-being. We offer best-in-class benefits, including paid time off, wellness programs, and support for work-life balance to ensure our team can thrive both personally and professionally.

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Common Interview Questions for Director, P&C Pricing Actuary
How do you approach developing pricing strategies as a Director, P&C Pricing Actuary?

In answering this question, you should describe your analytical process, emphasizing the importance of market analysis, understanding financial goals, and collaboration with team members across departments. Share specific examples of successful strategies you've implemented in the past and how they benefited the organization.

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Can you discuss a challenging project you managed while leading a team?

When discussing a challenging project, focus on your leadership skills and conflict resolution strategies. Explain the project’s challenges, the steps you took to address them, and the outcome. Highlight how you engaged your team and prioritized tasks amidst competing demands.

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What are effective ways to communicate complex actuarial concepts to non-technical stakeholders?

Mention techniques like simplifying language, using visuals to present data, and telling stories that relate to the audience. Showcase how you have successfully bridged the gap between technical details and management understanding in your previous roles.

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How do you stay updated on industry trends and regulations impacting pricing in the insurance sector?

It's important to express your commitment to continuous learning through subscriptions to industry publications, participation in professional organizations, and attendance at relevant conferences. Mention any specific resources or networks you leverage to enhance your knowledge.

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Describe how you would handle a situation where your pricing model faced pushback from other departments.

Illustrate your conflict resolution skills by explaining how you would cultivate open communication, gather feedback, and adjust the model for a collaborative solution. Show the importance of being adaptable while maintaining the business objectives.

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How do you prioritize competing projects and deadlines as a Director?

Discuss your time management skills and mention specific tools or methods you employ. Share a past experience where you successfully managed multiple priorities and how you ensured all projects were well-executed.

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What metrics do you use to measure pricing effectiveness?

Talk about key performance indicators such as loss ratio, market share growth, and customer retention rates. Provide examples of how you’ve used these metrics to make informed pricing decisions and adjustments.

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Can you provide an example of how you've led a team through a significant change?

Explain a relevant change management experience, emphasizing your leadership approach. Discuss how you fostered team buy-in, communicated the vision, and supported your team during the transition.

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What is your experience with data analytical tools, and how do you apply them in pricing strategy?

Share your hands-on experiences with tools like Python, R, or SQL, illustrating how you've applied these skills to analyze pricing data effectively. Highlighting specific projects will also demonstrate your analytical capabilities.

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How do you integrate feedback from team members and stakeholders into your pricing strategies?

Discuss your approach to soliciting feedback from various sources, highlighting your collaborative and inclusive leadership style. Share examples of how integrating feedback led to improvements in your pricing strategies and team dynamics.

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WHAT WE STAND FOR No matter how many years we’re in business or how many members we serve, our core mission and the values that inspired it never change. Our mission is to stand with our members and be there for them and their families by facili...

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Full-time, hybrid
DATE POSTED
December 11, 2024

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