Actuarial Professional

About the role

Ranked #8 Top Workplace - Midsize Employer, MN
As a member of the actuarial team, you’ll support SFM’s business needs and strategic goals by analyzing, evaluating, and modeling business processes and outcomes. This role can be filled at the Actuarial Analyst (entry level) up through the Sr. Actuarial Analyst (FCAS credentialed) level, depending on work experience. Your project work and assignments will be geared towards your experience level, while providing the opportunity to grow and develop. This position will afford you the opportunity to drive the execution of the core actuarial duties of reserving, reinsurance, ratemaking, financial projections, and claim calculations focusing on Workers’ Compensation Insurance. In addition, we’ll count on you to provide expertise, including consultation and recommendations, on actuarial models and issues.

What You’ll Do

• Actuarial Focus
• Reserving: Conducts in-house financial loss and expense reserve calculations while collaborating with consulting actuaries in related analyses and presentations. Performs financial projections, including but not limited to accounting and budgeting for frequency, severity, audit, expense and annual statement. Provides individual claim projections for case reserve, settlement and interest purposes.
• Ratemaking: Conducts reviews of rating components for insurance rates, procedures and plans. Assists in preparation and coordination of all rate filings necessary for Departments of Insurance.
• Pricing: Monitors pricing including loss sensitive and dividend plans, making recommendations for changes when appropriate. Develops pricing methodologies, tools and assumptions.
• Reinsurance: Analyzes reinsurance contracts and retention selections. Interfaces with reinsurance broker to understand and implement alternative structures/offerings where appropriate.
• Analytics: Participate in corporate predictive modeling initiatives as part of department cross-training and development. May participate in Enterprise Risk Management and Business Intelligence initiatives.
• Business Service Focus
• Business Partnership: Provides ad hoc data analyses as requested. Participates in company initiatives and projects, including but not limited to those with underwriting, claims, finance and Information Services. Works extensively with business leaders and technical experts to develop innovative business solutions and insights. Acts as a champion to leverage internal and external data to improve efficiencies, decision-making and allocation of resources. Will mentor business on value proposition of use of analytics to overhaul existing processes. Use analytics to analyze and make recommendations on new opportunities.
• Communication: Communicates effectively with leaders and management on project status and work assignments. Presents analysis findings to leaders, internal stakeholders, vendors, clients and industry conferences. Provides clear and concise documentation.

Why You’ll Love Working Here

We want your work life to feel balanced, rewarding, and supported. Here are just a few of the benefits SFM offers:

• Comprehensive medical, dental, and vision coverage (plus HSA/FSA options).
• Significant Cash Benefit if You Opt Out of Our Health Plan.
• Flexible hybrid work environment.
• 401(k) with both Traditional and Roth options + company match.
• Contributions toward student loan repayment.
• Generous PTO, 9 paid holidays, and paid parental leave.
• Monthly home internet allowance.
• Free life insurance, short-term & long-term disability coverage.
• Incentive bonus opportunities.
• Adoption financial assistance.
• Pet insurance.
• Annual company-wide volunteer day.
• Discounts on gyms, fitness apps, and wellness programs.

Job Details

Salary range: $67,724 to $175,909 (DOE)

Base pay posted is just one component of SFM’s total compensation package. The salary range listed reflects the full compensation range for the position of Actuarial Analyst, Sr. Actuarial Analyst, Actuary and Sr. Actuary. Job title and starting pay will be based on the selected candidate’s relevant knowledge, skills, abilities and/or experience, and education, if applicable as well as internal equity with other employees in the same job classification.