VP and Lead Actuary

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture.

Our Commercial lines team is seeking a Vice President and Lead Actuary to join our growing team in Worcester, MA, Windsor, CT, or remote work location. 

POSITION SUMMARY: 

The VP and Lead Actuary will lead all aspects of the actuarial practice for The Hanover’s Core Commercial Lines portfolio.  Help shape the business strategy of the Core Commercial businesses of the company and solve problems and initiate solutions in the face of ambiguity.

Responsible for actuarial, data science, and integration teams driving enhanced pricing sophistication, portfolio management, rate development and execution, third party data integration, competitive intelligence and other activities in support of sustained profitable growth.

Share ownership and accountability for the profitability of all Core Commercial lines of business and aggregate business unit performance.

Responsible for providing counsel to senior management and business leaders on the appropriate course of action for Core Commercial as a member of the business leadership teams.

Represents the organization to both internal and external audiences. 

WHAT YOU WILL DO IN THIS ROLE:

• Participate in strategy development for Core Commercial businesses.
• Accountable for the effective implementation of business strategies.
• Proactive monitoring of trends in results and profitability by line of business and/or product at a granular level across the portfolio (at a minimum state/industry/business unit).
• Provide guidance and drives execution of filing adequate manual rates in all lines and jurisdictions, and policy/account level guidance on collected price.
• Drive continuous improvement and execution of actuarial and data science processes, models, and methods.
• Responsible for driving efficiency and effectiveness of operations, anticipating and managing unanticipated situations as appropriate.
• Present findings and recommendations to customers with the ability to influence and drive to decisions and partner effectively to facilitate implementation and execution.
• Partner with internal and external clients to establish and achieve corporate and business function priorities and goals.
• Collaborate with Actuarial and Analytics Leadership team members to cultivate a community that fosters actuarial development and state of the art data science expertise.
• Actively collaborate with technology, data science, and data partners on governance and compliance matters.
• Leverage AI capabilities and automation to optimize productivity and achieve optimal outcomes across the business function.
• Responsible for performance and compensation management for team.
• Accountable for financial budget and metrics for applicable function.

WHAT YOU NEED TO APPLY:

• Bachelors Degree or higher in a relevant technical field
• 10+ years of technical experience, including a minimum of 10 years in management
• FCAS Designation required.
• Advanced written and verbal communication skills.
• Ability to explain complex actuarial and data science concepts to business partners.
• Knowledge and understanding of unit/corporate strategy, financial goals, and business and industry trends.
• Proven success working in a matrixed organization and across different businesses and functional areas.
• Demonstrated knowledge of all techniques used to model various assumptions.
• Expertise in data, modeling, and monitoring in support of business objectives.
• Experience in navigating state regulatory environments.
• Able to apply and interpret company policies and procedures.

WHAT SUCCESS LOOKS LIKE:

• Change Advocate/Leadership
• Identifies and acts upon opportunities, motivates others during times of organizational stress, ambiguity, and change
• Creates an environment that encourages calculated risk-taking, sharing of best practices, and alerting groups to alternative approaches. Provides context for organizational change.
• Influences business leaders and models data-driven decision making.
• Communication for Results
• Expresses technical and business concepts, ideas, feelings, opinions, and conclusions, so that others understand and are persuaded to act.
• Creates an environment that encourages and values the opinions of others and promotes sharing of information and ideas.
• Promotes an inclusive environment and encourages people to speak up.
• Negotiation
• Knowledge of negotiating techniques, subject matter, and strategy to obtain commitment, compromise, or settlement in a way that promotes mutual goals or interests.
• Plan ahead to support achievement of long-term strategic goals despite short-term obstacles and organizational constraints.
• Results Orientation
• Excited by challenging goals and a desire to exceed standards of excellence.
• Exceeding the standard can include challenging personal goals, organization's standards, or current industry standards.
• Exhibits a true sense of competitiveness and a drive for results.
• Has a strong desire to win in the most challenging of circumstances and the fortitude to take calculated risks to achieve personal objectives and goals, organization's standards, or current industry standards.
• Sets clear expectations and effectively monitors results to identify both successes and gaps in performance outcomes.
• Resource Management
• Maximizes the impact of human, financial, technical, environmental, physical, and business resources for meeting organizational objectives.
• Plans, organizes, and monitors staff, work, projects, vendors, budgets, and expenses to meet organizational goals and priorities in a timely manner.
• Promptly specifies and negotiates for critical resource needs.
• Articulates how resource availability affects the organization's business functions, processes and administrative procedures.
• Strategic Thinking
• Examines issues and plans with a long-term perspective. Able to critically evaluate external and internal factors.
• Sets and ensures that the business function is focused on the top priorities.
• Talent Management
• Proactively fosters building, developing, mobilizing, and evaluating the organizations’ human assets.
• Establishes effective performance metrics and measures in order to accomplish organizational goals.
• Authorizes individuals to take initiative and make expedient, practical decisions that impact the performance or success of an event or project.
• Shares knowledge, skills, or expertise with others; coaches others. Encourages and rewards learning, growth, etc., in others.
• Supports continual development of all staff through assignments, coaching, and training.

CAREER DEVELOPMENT:

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include:

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits

EEO statement:

The Hanover values diversity in the workplace and among our customers.  The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.  

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.” 

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities.  Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at:[email protected] and include the link of the job posting in which you are interested.

Privacy Policy:

To view our privacy policy and online privacy statement, click here.  

Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here.

Compensation:

The target hiring range for this role may vary based on geographic location and other factors, including merit or performance, demonstrated proficiency, skills for the role, education, travel requirements, and experience. Additional compensation may include an annual bonus (which could take the form of a general bonus, sales incentive, or short-term incentive), long-term incentive or spot recognition awards. The posted range reflects our ability to hire at different position titles and levels depending on background and experience.