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Director, P&C Pricing Actuary | Tampa, FL, USA

Director, P&C Pricing ActuaryWhy 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.)
min
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$138230K
$264200K

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What You Should Know About Director, P&C Pricing Actuary | Tampa, FL, USA, USAA

As the Director, P&C Pricing Actuary at USAA in sunny Tampa, FL, you will take the lead in shaping innovative pricing strategies that help fulfill our mission to provide financial security to U.S. military members and their families. This is not just a managerial position; it's an opportunity to make a real impact on the lives of those who have served. You’ll be collaborating across various departments, steering a talented actuarial team, and formulating pricing assumptions that align with both market demands and our corporate goals. Your responsibilities will extend to overseeing product development, tracking industry trends, and ensuring compliance with our risk management policies. What sets this role apart is the requirement for a blend of strategic vision and hands-on management experience—leading teams, fostering collaboration, and delivering data-driven insights. You might also dive into complex analyses, transforming mountains of data into compelling visualizations that showcase the effectiveness of your pricing models. It's a unique chance to influence decisions at the executive level while supporting a cause you can believe in. USAA values integrity, loyalty, and service, mirroring the core values our employees uphold as we strive to create exceptional experiences for our members. Are you ready to take on this rewarding challenge in a flexible environment that allows you to thrive both professionally and personally? Join us and contribute to something that truly matters!

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

As a Director, P&C Pricing Actuary at USAA, your primary responsibilities include overseeing the development of pricing assumptions and structures, directing the creation of new products, and implementing process improvements. You'll also provide strategic planning recommendations and ensure that your team's work aligns with USAA's corporate objectives. Additionally, you'll represent USAA in industry committees and monitor market trends to keep our pricing strategies competitive.

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What qualifications are needed for the Director, P&C Pricing Actuary position at USAA?

To qualify for the Director, P&C Pricing Actuary position at USAA, candidates need a Bachelor’s degree or equivalent experience, along with at least 8 years of relevant work experience and 3 years in a managerial role. Successful candidates will have also completed five exams from the Casualty Actuarial Society. Advanced qualifications like Associate or Fellow status can set you apart.

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What skills are important for a successful Director, P&C Pricing Actuary at USAA?

Key skills for a successful Director, P&C Pricing Actuary at USAA include strong leadership capabilities, the ability to translate complex analytics into useful insights, problem-solving and critical thinking skills, and a solid understanding of personal lines pricing methodologies. Familiarity with data analytic tools and programming languages like Python, R, or SQL is also a plus.

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Is there flexibility in the work environment for the Director, P&C Pricing Actuary role at USAA?

Yes! The Director, P&C Pricing Actuary position at USAA offers a flexible work environment, allowing you to work in the office for four days a week while enjoying a balanced work-life schedule. This makes it easier to connect with your team and stay engaged in collaborative efforts.

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What type of career growth opportunities does USAA offer for a Director, P&C Pricing Actuary?

USAA offers extensive career growth opportunities for the Director, P&C Pricing Actuary position. You'll have access to career path planning, continuing education programs, and a supportive work environment that encourages ongoing professional development and mentorship.

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Common Interview Questions for Director, P&C Pricing Actuary | Tampa, FL, USA
How would you develop pricing assumptions for a new insurance product?

To develop pricing assumptions for a new insurance product, I would start by analyzing historical data and market trends. Collaborating with various teams, I would ensure that our assumptions cover relevant risk factors while reflecting competitive pricing strategies. It’s crucial to utilize analytical tools or methodologies that can forecast potential outcomes accurately.

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Can you describe your leadership style and how it aligns with USAA's values?

My leadership style is collaborative and empowering, which aligns perfectly with USAA's core values of integrity and service. I believe in fostering open communication and mentorship among my team members to boost their growth and engagement. By creating an inclusive environment, I aim to motivate my team to perform their best while staying true to our mission.

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How do you ensure that pricing strategies meet both market demands and company goals?

To ensure that pricing strategies align with market demands and company goals, I continuously monitor industry trends and conduct regular analyses of competitor offerings. Collaboration with cross-functional teams is key in this process, as it helps gather insights into customer preferences and enables us to adapt our strategies promptly.

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What experience do you have with regulatory compliance in pricing?

In my previous roles, I have worked closely with compliance teams to ensure that all pricing strategies adhere to industry regulations. My experience includes implementing robust risk management practices that identify, measure, and mitigate compliance risks, thus protecting the company's interests and reputation.

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How do you stay updated with industry trends as a Director, P&C Pricing Actuary?

To stay updated on industry trends, I actively participate in professional organizations and attend relevant conferences and workshops. I also subscribe to industry publications and leverage networks with fellow actuaries. This continuous learning allows me to drive innovation in pricing strategies effectively.

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What methodologies have you found most effective in personal lines pricing?

I've found that a combination of predictive modeling and data analysis methodologies works best in personal lines pricing. Techniques such as generalized linear models or machine learning algorithms help in accurately determining risk levels and setting competitive pricing that meets our financial goals.

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Describe a challenge you've faced in a prior pricing role and how you overcame it.

In a previous role, I faced a challenge with inaccurate pricing assumptions that led to unanticipated losses. To address this, I conducted a thorough review of our data and pricing methodologies. By recalibrating our assumptions with better validation processes and team input, we successfully reduced losses and improved pricing accuracy.

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How do you prioritize competing projects within your team?

Prioritizing competing projects requires a clear understanding of both business objectives and team capabilities. I typically assess each project’s potential impact and urgency, then engage the team in discussions to align on priorities. This transparent approach ensures everyone understands the rationale behind project prioritization.

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How do you communicate complex actuarial concepts to leadership?

I focus on translating complex actuarial concepts into straightforward narratives and visuals when presenting to leadership. I aim to connect the technical aspects to business impacts directly, using visual aids like charts or graphs to convey essential insights effectively.

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What role does technology play in your actuarial practices?

Technology is pivotal in actuarial practices. I leverage advanced data analytics tools and programming languages to streamline data processing, enhance modelling capabilities, and improve overall efficiency in pricing strategies. Staying up to date with emerging technologies is essential for our team's success.

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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 19, 2024

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