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USAA AVP, Loss Reserving- Data and Non-Auto Insurance in San Antonio, Texas

Purpose of Job

Responsible for establishing the required liabilities for external financial reporting for International, Commercial and Property Insurance loss reserves. Oversees and directs activities required to meet regulatory requirements and provide Statements of Actuarial Opinion on Loss Reserves, Underwriting and the Reinsurance program and calculates the Technical Provision under Solvency II for international subsidiaries. Evaluates loss experience and property insurance claim frequency and severity trends, including external factors affecting P&C insurance claims and provides findings to senior leadership.

Job Requirements

  • Identifies and manages existing and emerging risks that stem from business activities and the job role.

  • Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled.

  • Follows written risk and compliance policies and procedures for business activities.

  • Oversees International, Commercial and Property Loss Reserving, and overall data support for Loss Reserving. Directs the monthly/quarterly analysis, computation and evaluation of the International, Commercial and Property loss, LAE (reserves, and Loss Reserving Support Systems (LRSS) and Financial Premium and Loss (FinPAL) teams.

  • Accountable for meeting regulatory requirements and providing Statements of Actuarial Opinion on Loss Reserves, Underwriting and the Reinsurance program and calculates the Technical Provision under Solvency II for International subsidiary companies.

  • Provides senior leadership accurate and timely information about loss cost trends to influence strategic planning, pricing, and financial objectives of USAA for International and Property losses.

  • Sets the strategy for short and long term loss estimates for the International business, Property business of the domestic companies and small business insurance.

  • Coordinates and communicates closely with Claims, Actuary and Financial Forecast leadership on strategic analysis and insights of loss experience for all International and Property Insurance business meetings.

  • Oversees processes and activities required to meet regulatory requirement for Actuarial Reports for International and Property Insurance losses.

  • Plans and supervises the education and training for International, Commercial and Property loss reserving staff as well as the Loss Reserving Systems Support team to ensure proper alignment of skill sets and provide backup capability.

  • Provides strategic analytical and technical expertise to other areas of the company related to the development of data and management information regarding losses and loss adjustment expenses.

  • Develops efficient procedures and systems to provide data and techniques necessary for loss and LAE analysis as well as Enterprise financial reporting.

  • Develops and maintains a proper control environment that meets all regulatory requirements, including Internal Controls for Financial Reporting.

  • Builds and oversees a team of employees for pricing/reserves through ongoing execution of recruiting, development, retention, coaching and support, performance management, and managerial activities.

Minimum Requirements:

Minimum Education:

  • Bachelor’s Degree

  • 4 or more years of related experience beyond the minimum required may be substituted in lieu of a degree.

Minimum Experience:

  • 10 years of property and casualty actuarial experience in the financial services industry developing or influencing short term and long term strategies, including 5 years of Loss Reserving or pricing experience.

  • FCAS (Fellow of the Casualty Actuarial Society)

  • 6 years of people leadership experience in building, managing and/or developing high-performing pricing/reserving teams.

  • Executive-level experience presenting and delivering data results and recommendations in a clear and concise manner to senior leaders for action.

  • Experience being accountable for work produced that is aligned to regulatory requirements.

  • Experience establishing programs/practices related to data management for loss reserving or similar analytical data in a way that is beneficial internal and line of business stakeholders.

Preferred Requirements:

  • Prefer 5+ years of Loss Reserving experience.

This position will be posted for internal applicants until Midnight on 4/14/21

USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market position. The salary range for this position is $155,000-$279,000

Employees may be eligible for pay incentives based on overall corporate and individual performance or at the discretion of the USAA Board of Directors.

Long Term Incentive Plan: Cash payment for Executives only representing a cash payment which is both time and performance based

Benefits:

At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.

Please click on the link below for more details.

USAA Total Rewards (https://hrportal.ehr.com/usaa/Prospective-Employees)

If you are an existing USAA employee, please use the internal career site in OneSource to apply.

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Find your purpose. Join our mission.

USAA is unlike any other financial services organization. The mission of the association is to facilitate the financial security of its members, associates and their families through provision of a full range of highly competitive financial products and services; in so doing, USAA seeks to be the provider of choice for the military community. We do this by upholding the highest standards and ensuring that our corporate business activities and individual employee conduct reflect good judgment and common sense, and are consistent with our core values of service, loyalty, honesty and integrity.

USAA attributes its long-standing success to its most valuable resource: our 35,000 employees. They are the heart and soul of our member-service culture. When you join us, you'll become part of a thriving community committed to going above for those who have gone beyond: the men and women of the U.S. military, their associates and their families. In order to play a role on our team, you don't have to be connected to the military yourself – you just need to share our passion for serving our more than 13 million members.

USAA is an EEO/AA Employer - applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, protected veteran status or other status protected by law.

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