Chief Actuary

Ifg Companies - Chapel Hill, NC

Full-time - Executive

Hybrid - Chapel Hill, NC

Insurance Carriers and Related Activities

About the position

The Chief Actuary (CA) at IFG Companies is a key member of the Executive Leadership Team responsible for overseeing all actuarial pricing and loss reserving functions. The CA leads a team of professionals in analyzing loss cost trends and establishing pricing levels for various insurance lines, while also ensuring conservative loss reserving practices are maintained. This role requires collaboration with multiple business units and involves presenting findings to senior management and external stakeholders.

Responsibilities

• Oversee and guide a team of actuarial professionals in developing and maintaining pricing models for five Business Units.
• Analyze internal claim data and update pricing models to reflect dynamic loss costs and inflationary trends.
• Collaborate with Business Units and Claims professionals to understand factors affecting liability exposures in pricing models.
• Stay updated on industry developments to incorporate market and claim trends into pricing recommendations.
• Identify risk classes where price increases may not yield appropriate returns and advise Business Units accordingly.
• Present pricing trends and actuarial matters to senior management and reinsurers as needed.
• Mentor and coach the pricing team to ensure strong technical skills and professional growth.
• Coordinate reinsurance renewals and evaluate financial implications of terms on projections.
• Oversee the loss reserving function to ensure conservative actuarial methodologies are applied to loss and LAE reserves.
• Analyze paid and reported claim data to update reserve positions and assess reserving methodologies.
• Provide timely loss and LAE reserve data to the Finance Unit for reporting and forecasting requirements.
• Assist external actuaries in evaluating the appropriateness of year-end reserves.
• Perform ad hoc pricing and reserving studies as warranted.

Requirements

• Bachelor's Degree in Actuarial Science, Mathematics, Statistics, or a related field required.
• Fellow of the Casualty Actuarial Society (FCAS) and Member of the American Academy of Actuaries (MAAA) preferred.
• At least fifteen years of actuarial experience in loss reserving and pricing functions within the commercial property and casualty insurance business or with an actuarial consulting firm.
• Experience managing and developing high-performance teams across multiple offices.
• Strong analytical and problem-solving skills.
• Excellent verbal and written communication skills.

Nice-to-haves

• Post-graduate degree in a related field would be beneficial.

Benefits

• Medical insurance
• Dental insurance
• Vision insurance
• 401(k) plan
• Flexible spending account
• Short-term and long-term disability insurance
• Life insurance
• Long-term care insurance
• Paid parental leave
• Vacation and other paid time off