Underwriting & Actuarial Lead

Volkswagen Financial Services, a wholly-owned subsidiary of Volkswagen Group, is the trusted key to mobility for its brand partners. We are committed to supporting the Audi, Ducati, and Volkswagen brands and their Dealers, specializing in providing accessible mobility solutions for its Customers. The company's offerings include Retail Leasing, Retail Financing, Commercial Financing for new and used vehicles, and End-of-Term vehicle disposition.

Brief Role Description

This position is Career Level 20P+, located in Reston, VA, with a Role Classification of Hybrid.

Role Summary

The Underwriting & Actuarial Manager plays a pivotal role in shaping the insurance portfolio through expert risk assessment, pricing strategy, and financial modeling. This position blends deep actuarial knowledge with hands-on underwriting leadership to ensure sound decision-making and profitability across insurance products. This role requires a strategic thinker with strong analytical skills, deep insurance knowledge, and the ability to lead cross-functional teams in a dynamic environment.

Role Responsibilities within this Role

Underwriting Responsibilities (40%):

Evaluate complex insurance applications to determine risk levels and coverage eligibility.

Develop and implement underwriting guidelines and procedures to ensure consistency and compliance.

Review and approve high-value or non-standard policies, often requiring nuanced judgment and negotiation.

Collaborate with brokers, agents, and clients to clarify application details and negotiate terms.

Ensure regulatory compliance with insurance laws and internal standards. Actuarial & Analytical Duties (40%):

Support the implementation of IFRS 17 for the insurance products

Understand and provide effective challenge on Pricing and Reserve calculation for Auto Insurance products

Collaborate with the Risk Management Planning and Reporting Group, Accounting and senior management in establishing adequate loss provisions for Insurance products

Engage with CFO, VP of Finance and Chief Risk Officer, Accounting, Risk Management, Brand executives and external auditors to gain acceptance on the loss and reserve forecasts. Provide technical and operational support to auditors to ensure successful audit close

Be able to extract data from data warehouse for Insurance products and perform analysis on upcoming issues/trends

Providing all actuarial inputs for income recognition for actual and forecast models

Regular updates on Loss curves vs. priced. Perform comparison of actual to priced loss ratios Leadership & Strategic Oversight (20%):

Lead and mentor a team of underwriters and analysts, providing training and performance feedback.

Set strategic direction for underwriting and risk management aligned with company goals.

Implement process improvements to enhance efficiency, accuracy, and turnaround times. Qualification requirements

10+ years minimum, Strong background in insurance underwriting and actuarial science preferred.

At least 5 years working as an actuary in the Insurance industry and having an ACAS designation

Desired: 3 years working in Auto Insurance Industry with knowledge of Auto Insurance products.

Minimal travel - 5%

Flexibility to work remotely on as-needed basis Required Education:

Bachelor's Degree in a quantitative discipline: Statistics, Mathematics, Economics, Operations Research

Desired Education:

Master's Degree in related field

Professional certifications such as CPCU, FCAS, or ASA Required Skills:

Support a robust pricing and/or reserving review process for insurance business, including both standard actuarial techniques and advanced modeling

Proficiency in data analysis tools, underwriting software, and statistical packages.

Develop indications and communicate them to Actuarial Management and Senior Leadership

Work collaboratively as a part of the broader Pricing and/or Reserving process

Develop and communicate business analytics to Senior Leadership

Foster innovation within the team and across the broader organization Desired Skills:

Ability to build models using open-source software (e.g. R, Python), experience in distributed statistical computing preferred

Personal or commercial auto insurance experience

Excellent Excel skills and strong with SQL

Experience mentoring and/or directing junior team members. Additional Skills:

Lead and direct the work of others.

Ability to conduct large scale projects and research through all stages: concept formulation, definition of metrics, determination of appropriate methodology, research evaluation and final research report

Specialized ability to communicate highly technical subjects to the senior executives and others who have limited background in mathematics or statistics

Analytical and conceptual thinking - ability to understand business problems and develop data-driven solutions

Volkswagen Financial Services is an Equal Opportunity Employer. We welcome and encourage applicants from all backgrounds, and do not discriminate based on race, sex, age, disability, sexual orientation, national origin, religion, color, gender identity/expression, marital status, veteran status, or any other characteristics protected by applicable laws.

This role description is a guideline and does not create contractual rights between the Company and any of its applicants. The Company does not enter into any type of employment contract, implied or written, with its applicants regarding job security.

This Organization participates in E-Verify. We maintain a drug free workplace and perform pre-employment substance abuse testing.

Volkswagen Financial Services - The key to mobility

VW Credit, Inc., dba Volkswagen Financial Services (VWFS), was founded in 1981 as the captive financial services arm of Volkswagen Group of America, Inc. and is affiliated with Volkswagen of America, Inc., Audi of America, Inc. and Ducati North America, Inc. VWFS offers services to Volkswagen, Audi, Ducati customers, and authorized dealers as Volkswagen Financial Services, Volkswagen Credit, Audi Financial Services, and Ducati Financial Services. The company offers competitive financial products and services to customers and authorized dealers in the United States. VWFS is headquartered in Reston, VA.

VWFS is seeking individuals from diverse professional backgrounds who can bring fresh perspectives and ideas to help us drive forward in the ever-evolving financial and mobility services industry. As we continue to grow, we are excited to welcome talent from a variety of professional backgrounds to join our team. We believe in the power of diversity and inclusion, as it fuels creativity, fosters innovation, and strengthens our ability to serve our customers better. Are you a forward-thinker, a problem-solver, or an innovator? This is an opportunity to be part of a dynamic team that values diversity, creativity, and collaboration.

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Job ID: 19231

Company: VW Credit, Inc.

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