Openly is rebuilding insurance from the ground up. We are re-envisioning and enhancing every aspect of the customer experience. Doing this requires a rapidly growing team of exceptional, curious, empathetic people with a wide range of skill sets, spanning technology, data science, product, marketing, sales, service, claims handling, finance, etc.

Now is the perfect time to join the journey. Here’s why:

  • It’s working. We’re in multiple states and on our way to operating countrywide. We have thousands of agents selling our product and millions of dollars of annual customer premiums.
  • We’re well backed & stable. We closed our $75M Series C fundraise. We are supported by some of the top investors globally, including Google’s “Gradient” AI-focused fund, Obvious Ventures (Beyond Meat, etc.), and Advance Venture Partners.
  • It’s not too late! Despite this traction and stability, we’re still early enough in the journey that there’s time to make a real difference during Openly’s formative period.

If you’d like to understand more about Openly’s mission, consider checking out this video from a company pitch we gave several years ago at Techstars.

Job Details

We are searching for an Actuarial Director, ERM / Senior Actuarial Director ERM at Openly.

This opportunity will sit on the Finance & Risk team to be a fundamental part of the creation of our risk framework and risk culture for a personal lines insurer. This role reports to the Head of Reinsurance and Capital Management, and would be integral to Openly’s continued success and maturation as an innovator in the insurance industry.


Key Responsibilities

  • Establish and maintain a risk (including investment risk) framework and risk culture
  • Identify top 20 key enterprise risks and develop control framework to be implemented by various internal stakeholders
  • Monitor, forecast, and strategize on regulatory capital factors, dividends/return of capital, legal entity rationalization, capital efficiency and asset allocation
  • Collaborate with internal stakeholders by analyzing trends, industry best practices and understanding objectives to guide the development of business strategies that support Openly’s plans and organizational growth
  • Conduct reinsurance evaluation including risk transfer analysis
  • Support the Finance / Financial Planning & Analysis team on Best's Capital Adequacy Ratio (BCAR) and S&P Enterprise Risk Management (ERM) Level III Accreditation to ensure credibility and alignment of required capital
  • Provide support in liquidity planning for decision support purposes and operational requirements
  • Conduct analysis on strategic capital impacts (acquisitions/divestitures/prospective liquidity events) and determine whether appropriate for Openly from a risk, benefit, and cost perspective
  • Build strong relationships with key internal and external stakeholders and manage various reporting and meeting requirements to remain in compliance
  • Build strong relationships with key external stakeholders and manage various reporting and meeting requirements to remain in compliance
  • Implement and manage an Economic Capital Model (ECM) ensuring minimal downtime

Requirements

  • Bachelor's Degree or equivalent combination of education and work experience
  • 10+ years relevant experience
  • Objective decision making skills supported by examining facts, applying expertise, analysis, and sound judgment
  • High degree of business acumen, including delivery of programs against budget realities
  • Work effectively with senior executives and executive teams
  • Understand the spectrum of qualitative and quantitative risks (i.e. enterprise risks) that affect re/insurers
  • Deal positively and constructively with ambiguity
  • Develop strategy definition, including board-level documentation, feasibility, and cost benefit analysis
  • Sound commercial judgment and strong negotiation skills
  • Strong interpersonal and communication skills to build relationships and trust at all levels with internal customers
  • Develop and use metrics to promote desired results
  • Manage, influence and collaborate with people at different levels within the organization to accomplish a common goal
  • Deep understanding of the trends, risks, and opportunities across the group
  • Advanced understand of the statutory and economic capital framework to properly manage capital
  • Experience in identifying model parameter risk & implementation of relevant controls
  • Experience in building economic forecasting models, incorporating and documenting key assumptions for validation and continuous improvement
  • Extensive experience forecasting and leading the long-term and near-term capital management process for a large re/insurance organization including various subsidiary corporations & varied capital requirements.
  • Extensive experience in creating and maintaining rating agency presentations.

Preferred Degree

  • Master’s Degree

Preferred Licenses/Certifications

  • Fellow of the Institute of Actuaries (FIA)
  • Fellow of the Casualty Actuarial Society (FCAS)
  • Certified Enterprise Risk Analyst (CERA)
  • Member of the American Academy of Actuaries (MAAA)

Benefits & Perks

  • Competitive salary, corporate bonus program, equity position in a start-up company
  • Company-sponsored medical, dental, vision insurance plans, short-term and long-term disability, life insurance, 401k with corporate contribution, and FSA plan
  • Company-paid 12 weeks parental leave policy
  • The company fully embraces the “work-from-anywhere in the US” mentality, even before COVID restrictions.
  • Paid Time Off
  • Fun, fast-paced, startup environment

U.S. Citizens, Green Card Holders, and those authorized to work in the U.S. for any employer will be considered.

Openly is committed to equal employment opportunity and non-discrimination for all employees and qualified applicants without regard to a person's race, color, sex, gender identity or expression, age, religion, national origin, ancestry, ethnicity, disability, veteran status, genetic information, sexual orientation, marital status, or any characteristic protected under applicable law. Openly is an E-Verify Employer in the United States. Openly will make reasonable accommodations for qualified individuals with known disabilities under applicable law.