Associate Actuary, Capital Modeling (REMOTE)

The Hanover has been delivering on promises for over 170 years, fostering a culture rooted in values, sustainability, and inclusivity. This role is based in Worcester, MA or remote.

About the role

This position supports the development, maintenance, and application of Hanover's Economic Capital Model (ECM) and related capital management tools. The ECM is a key decision-support framework for evaluating enterprise risk, capital requirements, risk-adjusted performance, reinsurance strategies, and strategic business opportunities. The role involves capital modeling, model validation, capital allocation analysis, profitability assessments, and evaluating the impact of business and reinsurance strategies on enterprise risk and return. You will partner with departments such as corporate finance, Reinsurance, and Enterprise Risk Management.

Responsibilities

• Support the maintenance, governance, and ongoing enhancement of Hanover's Economic Capital Model (ECM).
• Analyze model assumptions, methodologies, and outputs, contributing recommendations that improve the ECM's effectiveness, accuracy, and business value.
• Perform enterprise risk quantification, stochastic modeling, and capital adequacy analyses across underwriting, reserving, catastrophe, market, credit, and operational risks.
• Conduct stress testing and scenario analyses to assess the impact of emerging risks and changing business conditions on capital requirements.
• Analyze key drivers of economic capital consumption, profitability, and risk-adjusted performance across business segments.
• Support the development and maintenance of capital allocation and performance measurement frameworks used in strategic decision-making.
• Determine the impact of reinsurance structures, capital management initiatives, and business opportunities on risk, return, and capital efficiency.
• Analyze the capital implications of strategic initiatives and management actions, providing data-driven insights and recommendations.
• Partner with Finance, Enterprise Risk Management, Investments, Treasury, Pricing, Reserving, and business leaders to communicate results and support enterprise decision-making.

Requirements

• Bachelor's degree in a relevant technical or quantitative field.
• Five or more years of actuarial, capital modeling, enterprise risk management, predictive analytics, pricing, reserving, or related analytical experience.
• ACAS or equivalent experience preferred.
• Strong understanding of actuarial modeling techniques, enterprise risk management concepts, and capital management principles.
• Experience interpreting complex analytical results and translating them into business recommendations.
• Advanced skills using Microsoft Office, including Excel and PowerPoint.
• Programming and analytical experience using Python, R, SQL, and other actuarial or data analytics tools, with demonstrated ability to automate processes, develop analytical solutions, and improve operational efficiency.
• Proven ability to manage multiple priorities and deliver high-quality work within established timelines.
• Ability to influence decisions and collaborate effectively across functions and organizational levels.

Career Development

Through on-the-job experiences, personalized coaching, and robust learning and development programs, we encourage growth and development at every level.

Benefits

• Medical, dental, vision, life, and disability insurance.
• 401K with a company match.
• Tuition reimbursement.
• Paid time off (PTO).
• Company-paid holidays.
• Flexible work arrangements.
• Cultural Awareness Day in support of IDE.
• On-site medical/wellness center (Worcester only).