US Property/Casualty Actuaries

Positions:

US P/C – Experienced

US P/C – Junior

Business Environment:

Insurance executives have increasingly realized that Enterprise Risk Management is one of the most important initiatives for their companies. The most effective way to establish Enterprise Risk Management is by establishing a proper, coordinated and powerful decision making framework through the implementation of Dynamic Financial Analysis (“DFA”). This requires building an internal, operational process for better financial decision making.

In the past, “DFA” mostly meant actuarial tool-kits, which can do a nice job of tactical modeling. Efforts to elevate to company-wide modeling often failed because inadequate technology did not live up to expectations.

DFA Capital Management’s business exploits two key aspects of this situation:

  • DFA requires major software technology, which is beyond the ability of insurance companies to develop internally
  • DFA requires first class implementation of a new decision making process inside the organization

Our software is a quantum leap in technology. Our approach targets the C-level executives in an insurance company and the burning issues that face them.

Today, the market for risk models is not driven by the actuarial department in an insurance company, but rather by these C-level executives. Sarbanes-Oxley in the U.S. and Solvency II in Europe have elevated the need for risk modeling to the board level. This is the market into which we sell our product and services.

The Career Opportunity:

Our company presents a unique career opportunity for a P/C actuary.

Financial risk management and modeling is undoubtedly the growth area for actuaries over the next 10-20 years. It also happens to be among the most interesting and challenging work available.

Also, our work offers the opportunity to branch out beyond the “actuarial box”. Our team will work with CFO’s, CEO’s, CRO’s and underwriters on business problems.

Finally, our equity culture means that everyone has a stake in the success of the business, not just the senior principals.

Job Descriptions:

This is the context in which the actuarial team functions. The company’s core product is software, which incorporates advanced business logic, and which requires ongoing development of intellectual capital. And there is substantial client service required around that software.

The actuarial team is responsible for all aspects of the company’s customer operations, business logic R&D, and technical sales support. Chris Suchar is currently responsible for these functions.

The actuarial team will work together with the software development team and the sales/marketing teams to build the business.

The core functions for the actuarial team include:

  • Managing the customer relationship
  • Project management on implementations
  • Technical work on implementations
  • Management consulting on implementations
  • Training
  • Customer support
  • Technical sales and marketing (in conjunction with professional sales/marketing team)
  • R&D – develop the intellectual capital
  • Software design – business logic specs

It is expected that most candidates will not have experience in all of the areas listed above. This is OK – if individual candidates can walk in the door with skills in at least two or three of these areas, and learn from there, a team can be assembled that can cover everything needed.

Post-hiring, the team will still be small, and the business is poised for growth, so candidates should expect the nature of their role to change over time, as dictated by the needs of the business.

Indicative candidate descriptions:

  • “Experienced”
    • 8-12 years of experience
    • Strong project management (organized, able to keep on schedule)
    • Good client-facing skills (good communicator, diplomatic)
    • Familiar with risk modeling (e.g., DFA systems, reinsurance broker models)
  • “Junior”
    • 2-6 years of experience
    • Familiar with risk modeling
    • Aptitude for programming
    • Good client-facing skills (but does not need to be a leader yet)

Compensation:

Highly competitive salary, performance based bonus, stock options and excellent benefits package

Please send resume by email to jobs@dfa.com

Current Openings

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