Liberty Mutual

Pricing Actuary/Modeler, Commercial Lines

Liberty Mutual • $90K — $120K *
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 in a quantitative field; advanced degree preferred
  • 5-7 years of relevant experience in analytical roles
  • Strong analytical skills, particularly in casualty actuarial methods
  • Expert in MS Excel; coding skills in VBA, R, or Python preferred
  • Experience with stochastic financial modeling and forecasting
  • Knowledge of risk management, ideally with experience in parameterizing reserve and UW risk
  • Effective communicator of technical concepts and analyses

Responsibilities

  • Collaborate with team to parameterize underwriting risk excluding natural catastrophes
  • Build and maintain underwriting risk models and output exhibits
  • Develop solutions for statistical models and processes
  • Document methods and activities clearly and concisely
  • Implement solutions for complex problems in a timely manner
  • Validate model parameterization and functionality
  • Work with Underwriting and Actuarial teams on Risk Analytics tools

Benefits

  • Professional development opportunities
  • Collaborative work environment
  • Access to advanced analytical tools and software
  • Exposure to a small, focused team in a specialized field
  • Opportunities for communication and engagement with a variety of stakeholders
Full Job Description
Description

The Global Risk Solutions (GRS) Capital & Analytics group is seeking a highly motivated individual to join its Insurance Risk Parameterization & Analytics team. This individual will contribute to a small team of modelers responsible for designing, developing, and implementing dynamic UW Risk modeling and analysis for the Global Risk Solutions organization. They will support UW Risk parameterization, modeling, and validation as well as wide-ranging uses of the models. The successful candidate will have strong analytical abilities, enjoy developing statistical models and processes, working with large data sets, and diving deep into drivers of line of business dynamics.

Responsibilities

Collaborate with other team members to achieve the following goals.
  • Parameterize UW Risk excluding natural catastrophe risk
  • Build and maintain UW risk models and output exhibits
  • Develop new solutions and improvements for statistical models and processes used to calculate these inputs
  • Maintain clear and concise documentation of methods and activities
  • Implement timely and practical solutions to complex problems
  • Validate model parameterization and model function
  • Collaborate with Underwriting and Actuarial to understand the business and guide development of Risk Analytics tools that accurately reflect the business
  • Communicate processes and parameterization results to stakeholders outside of the team

Preferred Qualifications
  • Bachelor's degree or higher in Mathematics, Actuarial Science, Statistics, Finance, Economics, or similar required
  • Minimum 5-7 years relevant experience required
  • Very strong analytical skills with solid understanding of core casualty actuarial methods, techniques, and standards
  • Expert in MS Excel and experience coding; Experience working with Visual Basic for Applications (VBA) and Capital modeling software, R, and Python preferred
  • Experience with stochastic financial modeling and forecasting preferred
  • Experience parameterizing reserve risk and UW risk preferred
  • Comfort with solving new problems and generating ideas for improving existing processes
  • Experience communicating analysis and technical concepts


Qualifications

  • Competencies typically acquired through a Bachelor`s degree in a quantitative field
  • Advanced degree (MBA) and/or professional qualification in one or more areas of risk management is preferred, and 8 to 10 years of relevant experience
  • Additionally, excellent quantitative analysis and modeling skills are required, in addition to significant experience in an analytical capacity (financial analysis, product management, actuarial, underwriting, etc)
  • Working knowledge of ERM-related regulatory frameworks (Solvency II, NAIC ORSA, ComFrame) is a plus
  • Very strong understanding of the risk characteristics of insurance industry required
  • Excellent understanding of basic financial concepts and metrics, including financial statement analysis require


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.

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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