Liberty Mutual

Global Surety Pricing Actuary

Liberty Mutual • $110K — $130K *
US-AnywhereRemote in Somerville, MA
Finance & Insurance
5 - 7 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Bachelor's degree required; Master's degree preferred.
  • ACAS/FCAS or ASA/FSA designation preferred, or equivalent educational experience.
  • 5-7 years of relevant actuarial experience required.
  • Strong understanding of actuarial techniques and related business practices.
  • Excellent communication skills for effective relationship-building.
  • Proven ability to motivate and mentor peers.
  • Advanced computing skills, including MS Excel and SAS, for model building.

Responsibilities

  • Own and enhance the SDI pricing model with advanced analytics.
  • Conduct complex actuarial analyses to guide pricing and strategy for SDI.
  • Support annual SDI reinsurance renewals with insightful analyses.
  • Apply actuarial expertise to diverse Surety projects beyond SDI.
  • Act as a trusted advisor to SDI underwriters, enhancing their decision-making.
  • Collaborate across teams for consistent pricing practices in Surety.
  • Demonstrate leadership by mentoring peers and aligning stakeholders.

Benefits

  • Comprehensive health coverage options for you and your family.
  • Retirement savings plan with company match.
  • Generous paid time off program to support work-life balance.
  • Professional development opportunities to help you grow your career.
  • Wellness programs to support your physical and mental well-being.
Full Job Description
As a Liberty Mutual Insurance Actuary on the Global Surety Actuarial Pricing team, you'll apply your analytical talents to non-traditional actuarial problems that directly shape Surety pricing and underwriting decisions. You'll work in a collaborative, dynamic environment where you own a core pricing capability, contribute to a variety of Surety analytical projects, and partner closely with underwriting leadership to bring value to the business. In this position, you will support the profit, growth, and operational objectives of Global Surety, with a primary focus on Subcontractor Default Insurance (SDI).

Responsibilities:
  • Own the SDI pricing model - run, maintain, and continuously improve the SDI pricing tool, which applies a distinct methodology from the broader risk-based pricing (RBP) suite. Design and implement enhancements to the underlying methodology and develop new functionality to keep the tool at the leading edge of SDI analytics.
  • Perform and review complex actuarial analyses for the SDI segment to inform pricing decisions, business strategy, and financial planning - including price adequacy reporting, premium forecasting, and risk transfer analyses.
  • Provide actuarial support for the annual SDI reinsurance renewal process, delivering the analyses and insights needed to support renewal negotiations and decisions.
  • Contribute to broader Surety projects and analyses - apply your actuarial expertise to a range of initiatives across the Global Surety portfolio beyond SDI, supporting the team's evolving priorities and the profitability and growth of the business.
  • Serve as a trusted actuarial advisor to the SDI underwriting organization - communicating directly and frequently with the SDI Chief Underwriting Officer and underwriting team to support pricing decisions and enhance underwriting capabilities.
  • Collaborate with peer analytical teams across Surety and GRS to ensure consistent, high-quality pricing and reporting practices, and to support emerging needs such as early SDI work in international territories.
  • Demonstrate influence-based leadership - mentoring and motivating peers and driving alignment across underwriting, analytics, and other stakeholders without direct reporting authority.


Qualifications

  • Bachelor's degree required; Master's degree preferred.
  • Associateship or Fellowship in the Casualty Actuarial Society (ACAS/FCAS) or in Society of Actuaries (ASA/FSA) designation preferred or comparable education/designation with relevant experience.
  • Minimum 5-7 years relevant experience required.
  • Sound knowledge of actuarial techniques and standards, as well as other business operations including financial, underwriting, legal, statistics, claims, sales, etc.
  • Advanced communication and interpersonal skills and ability to build relationships and interact effectively with others within and outside the organization.
  • Ability to motivate and mentor peers and motivate and train subordinates.
  • Advanced computing skills (MS Office Excel, SAS, etc.) with ability to build complex models.


Pay Philosophy: The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits

About Liberty Mutual

Since 1912, Liberty Mutual Insurance have committed theirselves to providing broad, useful and competitively-priced insurance products and services to meet their customers' ever-changing needs. Their delivery on this commitment is the reason they're now the third largest property and casualty insurer in the U.S. based on 2012 direct premium written according to the National Association of Insurance Commissioners.

Liberty Mutual Careers

Join the vibrant team at Liberty Mutual, a leading global insurance company, where your career is in your hands. At Liberty Mutual, we are committed to fostering an inclusive culture that values diversity and innovation. With a variety of job opportunities across multiple fields, this is where your professional journey can truly flourish.

Work You’ll Do

At Liberty Mutual, you’ll be part of a team that’s dedicated to empowering people to live safer, more secure lives. Whether you’re interested in a position in claims handling, underwriting, or customer service, you’ll find a platform here to enhance your skills and push the boundaries of what you can achieve.

Explore Our Job Opportunities

Liberty Mutual offers a range of career paths for both seasoned professionals and those just starting out. Our internship programs provide invaluable hands-on experience, helping to bridge the gap between education and full-time employment. For those seeking to grow their career, we offer positions that challenge and inspire, backed by benefits that support both professional and personal growth.

Innovate with Us

Innovation is at the heart of Liberty Mutual. We encourage our team to bring fresh ideas that drive industry leadership and improve customer experiences. By joining our team, you’ll collaborate with talented professionals who are keen on developing solutions that lead the market.

Develop Your Career

Liberty Mutual is deeply invested in the professional development of its employees. With comprehensive diversity training and leadership programs, we prepare you to take on leadership roles within the company. Networking opportunities within the company can lead to mentorship and further career advancement.

Benefits of Joining Liberty Mutual

Working at Liberty Mutual comes with numerous benefits. From competitive salaries to health and wellness programs, we ensure our team members are well taken care of. More than just a job, a position at Liberty Mutual is a stepping stone to a fulfilling career.

Join Our Team

Ready to take the next step in your career? Explore the job opportunities at Liberty Mutual. We are actively hiring and looking for individuals who are passionate, curious, and ready to drive change. Enhance your resume, prepare for your interview, and become part of a company that values your unique skills and vision.

Stay Connected

Keep up to date with the latest from Liberty Mutual Careers by subscribing to our job alert emails. Tailor your subscription to match your career preferences and get insights into new postings and career tips directly from our team.

Liberty Mutual: A Place to Grow, Innovate, and Lead

Discover how you can make a difference. Visit our careers page to find the position that’s right for you and join a team that’s committed to growth, leadership, and innovation. At Liberty Mutual, your career is what you make it.
Learn more about Liberty Mutual
Size
45,000 employees
Industry
Finance & Insurance
Founded
1912
* Ladders Estimates

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