Manager, Product Development Actuary

Job Description

Who We Are:

At PEMCO we're all about people - our customers, our employees, and the community. We're a mutual insurance company owned by our Northwest policyholders. We provide auto, home, renters, and boat coverage. Recently, Forbes named PEMCO as one of America's Best Insurance Companies 2022 and ranked PEMCO as the #1 auto insurer in the nation based on customer survey feedback. We are consistently recognized for our outstanding customer service, employee expertise, diverse community partnership and engagement, and social impact as well.

Our social impact programs motivate high achievement by youth in education; build stronger and greener communities; and increase safety at home, on the road, and at play. We're committed to diversity, equity, inclusion, and belonging, and to fostering an inspiring and inclusive workplace. These efforts create and cultivate an environment that builds fairness and understanding, encourages collaboration and flexibility, and celebrates all the ways in which we're different and the same - enabling all individuals to achieve their full potential.

Why We Need You:

Come join our dynamic Product team as we execute product initiatives using technology to make a difference! In this role, you will be responsible for driving the development of new products and the evolution of existing products.

What You'll Be Doing:

• Ensure consistent application of sound actuarial principles, methods, and tools.
• Identify, assess, and build new products and programs.
• Lead and oversee all statistical modeling using best practices.
• Manage a team of direct [and indirect] reports, with performance management and development responsibilities.
• Manage department budget and resources responsibly.
• Contribute to market share growth and profitability by recommending changes to products, pricing and risk management.
• Collaborate in innovation around product development and deployment within the overall consumer experience.
• Closely work with, mentor and coach actuarial team, effectively supervise employees as assigned.
• Provide advanced analytical support, such as premium studies and retention studies. • Analyze the performance of existing products.
• Perform pricing analysis by developing indicated relativities for each current or newly proposed rating variable using generally accepted actuarial techniques including predictive modeling and multivariate analysis.
• Partner with Product Managers in the ideation of new product offerings.
• Execute on strategy with precision through establishing effective teams and leading others in analyzing and solving complex problems.
• Demonstrate behaviors consistent with PEMCO's policies, values, code of ethics and business conduct.
• Authentically support the PEMCO Brand and constantly are on the lookout for top talent to join us to achieve our Mission to Worry Less and Live More.
• Other duties as assigned.

What You'll Bring:

• B.A. or B.S. degree or equivalent work experience (Mathematics, statistics, actuarial science or related field with proven mathematical skills and analytical ability - an enhanced understanding of statistical methods) is required
• 7 years of experience in a role requiring knowledge of actuarial concepts and principles, such as that obtained by being a Fellow of the Casualty Actuarial Society is required
• Strong analytical and organized business thinking with ability to resolve complex problems while presenting findings in a clear, concise, and understandable manner
• MS Office: Skilled proficiency in Excel, Word, PowerPoint, Outlook is required
• Business Environment: Has a thorough understanding of our industry, the relevant business landscape, and trends in growth and insurance environments; can spot early indicators of change and apply strategies to adapt quickly is required
• Analytical and data-driven: Thinks analytically; a structured thinker who can put complex ideas into clear frameworks; uses data to conduct root cause analysis and develops high quality, consumable, and consistent metrics that drive strategic objectives and priorities is required

What We Value:

PEMCO has identified the below competencies as critical for employees and the future of our business. The competencies are intended to define skills or abilities expected of our employees, and behaviors that employees can develop, and be evaluated against in their job. Proficiency levels include Beginner, Skilled, Advanced, and Mastery. Not every employee is expected to master every competency. Instead, we expect that employees will build skills in these areas as they progress through their roles and career at PEMCO.

• Agility: Handles risk and uncertainty, shifts gears with ease and speed, copes with and manages change well
• Growth Mindset: Develops abilities through dedication and hard work, views challenges and failures as opportunities to learn and improve skills
• Service Passion: Provides excellent service to others and seeks ways to improve that service; ensures the customer experience (internal and external) is a key consideration in policies, procedures, and decision-making
• Complex Problem Solving: Solves ill-defined, ambiguous problems in complex settings using logic, process, and experience

We've Got You Covered:

• Competitive salary
• 200% match on your 401(k) up to 6% of your pay
• Generous medical, dental, disability, and life insurance plans
• A commitment to community through social impact and diversity, equity, inclusion, and belonging programs
• A work environment built on integrity, where customer service is top priority and being friendly, inspiring, and good-humored is how we get things done

Work Location:

This position has a flexible work location It can be hybrid out of the Greater Seattle and Spokane areas, or remote from Washington, Oregon, Idaho, Ohio, South Carolina, Florida, and Texas.

Equal Employment Opportunity

At PEMCO, we celebrate and support our differences. We know employing a team rich in diverse thoughts, experiences, and opinions allows our employees, our products and our community to flourish. PEMCO is honored to be an equal opportunity workplace. We are dedicated to equal employment opportunities regardless of race, color, ancestry, religion, sex, national orientation, age, citizenship, marital status, disability, gender identity, sexual orientation, or veteran status.