Lead Pricing Actuary

Job Type: Full Time

Location: Downtown - Chicago, IL

Remote Work: Hybrid, minimum 3 days in the office to promote collaboration and interaction with associates onsite. 

Job Overview

The Lead Pricing Actuary is responsible for developing and maintaining loss triangles, pricing models, and rate-level indications for the various products that we underwrite. This critical role also includes creating and improving existing rating engines for the various lines of business, defining and maintaining data sets, and establishing robust reporting metrics. The actuary will work closely with the Office of the OCEO and Underwriting teams to ensure that pricing guidelines and strategies align with the company's business goals and objectives.

Job Responsibilities 

• Develop and refine pricing models and methodologies for Old Republic Professional (ORPRO) lines of business, including Directors and Officers (D&O), Employment
• Practices Liability (EPL), Fiduciary Liability, Crime, Fidelity Bond and Lawyers Professional Liability.
• Conduct in-depth analysis of historical claims and underwriting data to identify key risk factors and coefficient weightings driving loss costs.
• Assess potential risks and their financial impact.
• Examine and monitor market trends and competitor pricing to maintain our competitiveness in the market.
• Prepare and present data utilized during annual reinsurance renewal.
• Ensure that all pricing models comply with Old Republic International’s regulatory and compliance standards.
• Design, develop, and generate regular reports to monitor key metrics such as rate change, exposure change, and rate adequacy relative to selected loss picks.
• Perform comprehensive profitability analyses and clearly communicate findings to ORPRO leadership, ensuring pricing supports strategic objectives.
• Lead quarterly discussions on emerging profit and loss trends with a multidisciplinary leadership team.
• Deliver high-quality work within established timelines, demonstrating autonomy and minimal supervision.
• Effectively manage multiple projects simultaneously, balancing priorities and deadlines
• Communicate results and insights clearly and effectively.
• Adhere to ORPRO’s operational guidelines and codes of conduct.

Job Requirements

• A bachelor’s degree is required.
• 7+ years of experience.
• FCAS is required.
• Strong analytical and problem-solving skills and a passion for using data to drive business decisions are essential.
• Self-starter with excellent planning, organization, and time management skills.
• Exceptional communication skills and customer service abilities are necessary including effective communication with non-actuaries.
• Ability to work both independently and as part of a team is crucial.
• Skilled in defining problems, collecting data, establishing facts, and drawing valid conclusions, with keen attention to detail.
• Proficiency in Microsoft Office products, particularly Excel, is required.
• Maintaining awareness of industry trends and identifying emerging risks is essential.

Qualified candidates must submit a resume to

applications@oldrepublicpro.com