Actuarial Analyst

Responsibilities

• Proactively seek out situations where the acquisition of Competitive Market Analytics and other competitive position reviews would have a material impact on business decisions and their outcomes.
• Adapt and develop rating methodologies for both existing and new company products, paying particular attention to opportunities to develop a competitive advantage through consideration and use of new variables, etc.
• Identify, retrieve, and prepare data in support of actuarial analysis through R, SQL, Essbase, Databricks, and other data sources. This includes internal data (exposure, premium, loss, claims, price, etc.) and various forms of external data (bureau loss costs, bureau trends, macroeconomic data, market share, market pricing, etc.).
• Ensure the accuracy and suitability of data for the business need at hand. Manipulate data, perform preliminary analysis and interpret data through Excel or other analytics platforms and present recommendations.
• Complete Rate Reviews, Ratemaking, and Actuarial Indications including support of forecasting investment rates of return, underwriting expense provisions, frequency/severity and exposure trends. Gain management support for recommended changes.
• Complete regular estimates of adequate loss and expense reserves, including any financial information pertaining to reserves needed by the Financial Department, company management, or corporate including but not limited to Schedule P.
• Identify segments with profitable growth potential; identify underperforming segments and propose corrective actions to improve profitability.
• Perform advanced analytics and modeling techniques including but not limited to generalized linear modeling and other forms of multivariate analysis.
• Participate in enterprise risk management initiatives, including support for catastrophe management, economic capital modeling, internal rate of return studies, etc.
• Provide tools and analysis in support of Underwriting’s pricing decisions with respect to large accounts as well as small commercial portfolio price adequacy analyses.
• Perform other related duties as assigned by management.

Qualifications

• Bachelor's degree from four-year college or university; or equivalent combination of education and experience.
• 2+ years of actuarial experience specifically within an insurance organization preferred.
• Experience with data visualization tools, with a strong preference for Power BI.
• Commitment to continuing education demonstrated by progression through the Casualty Actuarial Society exam program or other insurance professional designations, including more traditional forms of continuing education related to university work or other technical designations.
• Ability to examine and break information into parts by identifying motives or causes. Make inferences and find evidence to support generalizations.
• Able to organize, prioritize and manage multiple tasks in a fast-paced environment; respond promptly and professionally to inquiries from customers; and communicate effectively with all levels of the organization.
• Strong customer orientation and problem analysis and problem resolution skills.
• Regularly and consistently demonstrates commitment to company values and guiding principles.
• Proficient in and have knowledge of Microsoft Office Suite as well as demonstrated ability to learn other software as needed. In particular, a more extensive working knowledge of Excel and a basic understanding of PowerBI, SQL or other data management software packages is expected.