Director of Analytics and Actuary
SFM – The Work Comp Experts. Work somewhere you love
SFM is unique in that we are small enough that your voice is heard, but has all the benefits and perks of a larger employer. We value your opinion, help you reach your goals, and make it easy for you to maintain work-life balance. Find out why our employees rate us a top employer and choose to stay and grow with us. Find out why SFM employees have stayed for 20+ years! Visit our careers page to learn more about working at SFM.
What You Will Be Do
Proactively drives infrastructures and culture that adapts to new regulatory frameworks, the need for deeper understanding of sources of profitability, evolving product design, and greater use of data analytics. Implements data-driven solutions to business issues, including data visualization, predictive and prescriptive modeling techniques, creating momentum for change and innovation for improvement in performance. Manages strategic initiatives and operational assignments which may include reserving, ratemaking, reinsurance, pricing, planning/forecasting, enterprise risk management, project management and analytic research. Interfaces with consulting actuaries to oversee reserve and ratemaking levels. Directs business intelligence and actuarial support functions and staff.
- Manages interdepartmental efforts with actuarial staff, business leaders and technical experts to develop innovative business solutions and insights. Acts as a champion to leverage internal and external data to improve efficiencies, decision-making and allocation of resources. Mentors business on value proposition of use of analytics to overhaul existing processes.
- Leads corporate predictive modeling initiatives. Works with external vendors of predictive models and internal business teams to analyze the profitability of business segments and processes, and provide actionable insights. Ensures that models are accurate, being used properly, and recommendations are being followed.
- Delivers in-house actuarial and financial calculations, with associated documentation, processes and implementation efforts. Oversees this work from actuarial staff before distributing to other departments within the organization.
- Interfaces with company’s consulting actuaries to finalize reserve analyses. Reports results to SFM executives and Board of Directors.
- Oversees review and analysis of rating components for insurance rates, pricing, procedures and plans. Uses modeling techniques and statistical concepts to assess risks.
- Analyzes catastrophic loss exposure and confirms recommendations on reinsurance levels.
- Directs Enterprise Risk Management capital modeling efforts, with effective integration into the strategic decision-making process.
Business Intelligence Focus
- Sets vision to provide effective and innovative design formats and alternative methods for visualizing and delivering information to manage the business, identify trends and improve profitability.
- Leverages Business Intelligence tools and staff resources to ensure key and timely data is provided to SFM leaders, employees, and business partners. Empowers SFM leaders by analyzing information rapidly.
- Regulates report development work including the review of new requests for proper justification and prioritization of work. Focuses on report reliability and functionality that add true business value. Exercises significant judgment in setting priorities and determining necessary tasks.
Leadership Focus and People Development
- Sets and communicates vision and expectation levels to team members and relates them to corporate vision and strategic direction. Actively seeks ways to drive business results through the use of data, using broad thinking and promoting a corporate culture of adaptability.
- Provides the day-to-day management of actuarial and business intelligence staff, including organizing/overseeing all work prepared by the department, managing deadlines, assigning work to the staff, checking work and preparing some of the work personally as needed.
- Provides tools/resources needed for the group to accomplish stated objectives. Proposes change and innovation in order to improve project team performance and timelines.
- Leads the development of actuarial and business intelligence talent within the organization. Creates individual development plans to enrich staff performance and value. Challenges staff to develop professionally or as leaders while serving as a role model and mentor.
- Encourages and supports team member decisions consistent with established boundaries based on team members’ experience and demonstrated ability to make good decisions. Leads team members to make decisions based on established criteria/goals and monitors performance to achieve successful results. Provides guidance and advice regarding technical actuarial and business intelligence issues.
- Participates in the recruitment of and selection of talent and the management of performance related matters in partnership with human resources.
- Assesses performance using results-based measures and performance improvement needs as a source of employee development. Distributes assignments and conducts performance reviews/check-ins regularly. Defines and clarifies team members’ job responsibilities, accountabilities and performance standards. Inspires staff to attain goals and pursue excellence. Identifies opportunities for improvement and makes constructive suggestions for improved performance. Effectively utilizes each staff member to his/her fullest potential.
- Performs any other tasks required to complete special projects as directed by management. May represent the company on industry and professional committees and/or with regulators.
What We'll Love About You
- Bachelor’s degree in Mathematics, Actuarial Science, Statistics, Risk Management, Economics, Data Science or related quantitative field required.
- Fellow of the Casualty Actuarial Society (ACAS) designation and/or a Master’s Degree in a data Science related field of study.
- Ten years or more, of analytics experience in property and casualty, preferably workers’ compensation insurance, with an emphasis on statistical/predictive modeling. Quantitative analysis experience is desirable
- Ability to create unique solutions to complex problems.
- Must be able to see the big picture and think strategically and creatively.
- Strong analytical, financial analysis and problem-solving skills.
- Effective leadership and supervisory skills with ability to develop an effective team.
- Demonstrates an in-depth understanding and knowledge of key business drivers and disciplines within the insurance industry such as underwriting, reinsurance and risk control.
- Advanced knowledge of pricing and actuarial techniques.
- Advanced software experience working with financial spreadsheets and word processing applications, preferably Excel and Word; specifically data, table and graph functions.
- Strong customer service skills.
- Strong and effective oral and written communication skills including effective presentation skills.
- Sound judgment and decision making capabilities.
- Demonstrates positive teaming skills.
- Must be able to maintain confidentiality of sensitive information. .
- Strong organizational skills including the ability to manage multiple projects and work with minimal direction using effective delegation where appropriate.
Regular attendance is required. Work takes place in a semi paperless environment within an office setting, using standard office equipment such as computers, phones, and photocopiers, which requires being stationary for extended periods of time. While performing the duties of this job, the employee is regularly required to talk or hear, and maintain concentration and focus. The employee frequently is required to stand; walk; use hands and fingers, handle or feel; and reach with hands and arms and work with close vision. This position requires the ability to occasionally lift office products and supplies, up to 20 pounds. Work is performed indoors with little to no exposure to extreme outdoor weather conditions.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Since 1983, our mission has been to be the workers’ compensation partner of choice for agents, employers and their workers. In that time, we’ve expanded to a little over 22,000 customers in the Midwest and grown our offerings to include vocational rehabilitation, safe patient handling, loss prevention, medical services and more. Though much has changed through the years, our focus continues to be unrivaled customer service, safety, and providing better outcomes for employers and injured workers.
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The safety of our employees, both current and future, is SFM’s highest priority. At this time, most of our staff are working remotely due to the current COVID-19 pandemic. Candidates who are selected for this position may be trained remotely and must be able to work from home in a designated work area. Once SFM determines it is safe for our employees to return to the office, candidates may be required to work in our Bloomington, MN office.
SFM Mutual Insurance Company and each of its parent companies, subsidiaries and/or affiliated companies are Equal Opportunity/Affirmative Action Employers. SFM provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, status with regard to public assistance, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
SFM Companies, EEO/AA Employers. SFM is a participant of E-Verify. Applicants have rights under Federal Employment Laws.