Job DescriptionSUMMARY This position is responsible for supporting the company's Actuarial functions. The core actuarial functions include pricing, reserving, reinsurance analysis, and forecasting. Additional responsibilities include management reporting, competitor analysis, strategy support, financial data calls, and other ad hoc projects. This position requires the understanding of insurance and business operations within Emerging Markets including, AF Group and COBX.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
- Independently gather and organize data and perform analyses for pricing, loss reserving, product development, reinsurance, capital management, and/or other financial or business purposes. Make recommendations and present findings to appropriate audiences.
- Complete rate review analyses including calculation of rate indications and various actuarial assumptions, communicating to underwriting leadership in both written and presentation formats. Lead rate review meetings and facilitate decisions.
- Independently compile rate pages and rate filing support for WC and/or other lines of business. Respond to questions or objections from state insurance departments.
- Provide oversight for the rate filing process including monitoring of the rate review schedule and working with Product Filings on timelines and procedures. Monitor quality of rate filings.
- Provide commentary for various reports. Monitor management reporting metrics and report on unexpected variances. Lead the development of new reports and tools for the department.
- Combine data from multiple sources to fulfill financial data call reporting requirements. Use bureau tools and forms to validate and submit financial call data. Research and resolve rating bureau inquiries, criticisms, and error reports related to financial data calls using appropriate combination of explanation and error correction.
- Provide oversight to the premium and loss projection process. Work with leadership on underlying assumptions and create appropriate documentation. Review projection files to ensure accuracy. Communicate results to appropriate audiences.
- Perform quarterly reserve analyses. Identify loss trends and investigate underlying drivers.
- Independently maintain and update Large Account Pricing tools, work with developers and IT, Data Analytics and support users with technical needs and guidance on referrals.
- Perform ad hoc projects with little direction.
- Work with the field on deployment of underwriting predictive models.
- Act as liaison for the Actuarial department when working with other departments. Represent Actuarial on various corporate projects. Work with outside actuaries and/or consultants on various projects.
- Assist in various reinsurance studies including pricing and commutation studies.
- Assist with Capital Model maintenance, support the Capital Management Committee, and develop and maintain risk adjusted performance metrics.
- Provide guidance and mentor other analysts and interns.
- Work with minimum supervision and exercise significant discretion and independent judgement.
- After attainment of the ACAS designation, maintain good standing with the Casualty Actuarial Society (CAS), complete annual CE requirements and attest with the CAS as required, and follow the Code of Professional Conduct and all relevant actuarial standards of practice. Pursuit of the FCAS designation is optional.
EDUCATION AND EXPERIENCE - Bachelor's degree required, preferably in actuarial science, mathematics, or a related field.
- Successful completion of at least four (4) CAS examination is required.
- A minimum of three (3) years of actuarial experience is required, with at least two (2) in the P&C industry.
QUALIFICATIONSTo perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
OTHER SKILLS AND ABILITIES - Excellent presentation and facilitation skills.
- Demonstrated leadership and project management abilities.
- Ability to make competent, independent decisions.
- Excellent oral and written communications skills, with the ability to communicate actuarial concepts and conclusions to non-actuaries.
- Ability to manage multiple priorities, establish workflows, and meet necessary deadlines.
- Knowledge of actuarial principles and practices, underwriting and marketing guidelines and claims practices.
- Ability to perform actuarial and statistical analyses.
- Strong working knowledge of Microsoft Office Suite. Programming skills in SQL and/or statistical software (e.g. R, Python) preferred.
- Ability to create financial and actuarial models with little direction.
- Ability to work both independently and as part of a team.
ADDITIONAL INFORMATION The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified. This job description does not constitute a contract for employment.
PAY RANGEActual compensation decision relies on the consideration of internal equity, candidate's skills and professional experience, geographic location, market, and other potential factors. It is not standard practice for an offer to be at or near the top of the range, and therefore a reasonable estimate for this role is between $90,000 and $120,000.
WORKING CONDITIONSWork is performed in an office setting with no unusual hazards.
