Vice President - Actuarial

New York, NY

Euclid Transactional ("ET"), a team within CRC Insurance Group ("CRC Group"), is a best-in-class agency that specializes in providing insurance solutions for the transactional liability market. Euclid Transactional has a team of ~190 with offices in New York, Chicago, Toronto, London, Copenhagen, Frankfurt, Dublin, Paris, Stockholm, and Singapore.

We are committed to providing superior and commercial service and results to our clients and carrier partners. We engage in open and honest communication, make decisions thoughtfully, and adapt to better support our people. We focus on inclusion and relationship building and strive to be respectful and empathetic.

We are an MGA writing representations & warranties (RWI) and tax liability insurance on behalf of our capacity providers, across North America, EMEA and APAC. You will own the pricing model for the book - its development, calibration and every change to it thereafter. Building the pricing well, keeping it current, capturing jurisdictional product nuances and extending it across the portfolio is the central responsibility of this role.

There is no legacy model and no established methodology to maintain. This is a unique opportunity to define the pricing model for a market leader in transactional risk insurance from the ground up.

Alongside that, you will own the analytics that tell us whether pricing is keeping pace with the market: rate adequacy, actual versus expected, and the leading indicators of drift on a book where losses take years to emerge.

This is a hands-on role with no direct reports, sitting within the Actuarial & Business Intelligence function and working closely with the SVP, the BI team, underwriting and claims.

• Development, calibration and ongoing iteration of the pricing model, calibrated to the indicated rate on line set by the SVP. Responsibility for model extensions across regions.
• All rate changes and model adjustments, supported by analysis.
• Proposing and evidencing the assumption set used across both pricing and loss ratio indications: rate change, frequency and severity trend, premium trend and exclusions. The SVP holds final sign-off, but the analysis and the argument are yours.
• Rate adequacy monitoring - achieved premium against model-indicated, on a like-for-like basis.
• Actual versus expected analysis, which gates any change to pricing.
• Leading indicators of drift: mix by deal size, sector and jurisdiction, and the cumulative effect of coverage and wording concessions.
• Claim-level analysis and root cause work, and the feedback loop into underwriting. On a low-frequency book, individual claims are the primary source of information about what actually drives losses; aggregate methods alone will not get you there.
• Model documentation, change control and pricing governance.
• Specifying the actuarial data requirements for capture, in partnership with the BI team, who own the pipelines and capture standards.

• Qualified actuary (FCAS, career ACAS, or equivalent)
• Exceptional communication skills - ability to communicate technical output to leadership in simple terms, alongside an ability to turn uncertainty into business recommendations.
• Strong commerciality - able to weigh limited data against underwriting judgement and external signals, and to be clear about what is driving outputs.
• High ownership and high output - comfortable carrying a demanding workload without a team behind you.
• Resourceful and self-directed, and effective in a matrixed environment where there isn't always a clean playbook.
• Willingness to work as an individual contributor - this role will have no supporting actuarial resource, so you need to be willing…