This position will be responsible for leading cross-functional teams to research, recommend, develop, and implement strategic segment-level pricing initiatives for Arch US MI. Ensures initiatives are thoroughly developed, tested, and compliant before they are implemented. Sets segment-level prices appropriately to achieve profitability and risk goals while maintaining regulatory compliance. Leads resources to monitor the market and competitor strategies to ensure pricing provides customers a fair price while exceeding shareholder goals. Plans, directs, and facilitates all segmentation pricing from inception through introduction into the marketplace.
Essential Responsibilities and Accountabilities
Refines current rating plans to support growth in targeted customer segments.
Utilizes actuarial resources to understand the actuarial price of the risk.
Utilizes market intelligence and market tests to understand the market price of the risk.
Assesses third-party research, unstructured data, and structured analysis to understand customer segmentation.
Develops recommended strategic vision for pricing Arch US MI’s first lien mortgage insurance. Communicates recommendations to management.
Coordinates market research to understand the role pricing plays in the experience of our customers and obtains market intelligence by working directly with sales leaders and customers.
Manages cash flow analysis to understand the return levels and profitability across various segments.
Provides details of price level performance to Senior Management.
Key player on cross-functional price implementation teams. Ensures regulatory compliance of pricing strategies and of our framework for segmentation and pricing.
Partners with actuarial colleagues to research and make improvements to predictive models, analyses, and data sources.
Knowledge & Skills:
In depth expertise in quantitative analysis including financial, statistical and economic analysis.
Strong understanding of insurance principles, automated tools and systems used for quantitative analysis.
Excellent written, interpersonal and communication skills.
Able to work effectively within cross-functional teams.
Strategic problem solving and decision-making abilities.
Experience leading an analytical team.
Microsoft Office Suite.
Education & Experience:
Required knowledge & skills would typically be acquired through a Bachelor’s degree from a four-year college or university in Business Administration, Economics, Mathematics, Finance, or similar disciplines. A MBA or graduate degree preferred but not required.
Ten years of work experience in Actuarial Science, Product Management, Marketing Analytics, Pricing, Strategic Planning, or a similar field.
Additional Salary Information: experience helps to determine salary offered
Internal Number: 2019-2544
About Arch Mortgage Insurance (Arch MI)
Arch Mortgage Insurance Company is the flagship U.S.-based mortgage insurer of Arch Capital Group Ltd., a leading insurance and reinsurance company operating through its subsidiaries worldwide. Based in Greensboro, North Carolina, our company is committed to our employees and our customers. Our Total Rewards package offers competitive pay and valuable benefits. Plus you’ll have access to a variety of programs supporting your professional development and a culture that encourages innovation, collaboration and professional growth.