Job Description
Job Description
General Description:
This individual will support all our current and future states in all product lines of insurance by accessing data, performing rate reviews, reserve analysis and other actuarial studies; preparing rate filings and responding to inquiries from regulatory departments; and working with accounting, external actuaries, consultants and auditors.
Essential Duties and Responsibilities:
Oversee and manage projects related to Pricing.
Lead the ratemaking process and develop pricing indications so as to attain an underwriting profit.
Perform various Pricing projects, including but not limited to quarterly rate adequacy reviews, internal rate indications, and analysis of internal and external data
Support and develop Pricing tools, and advance Pricing methodology in terms of data capture and analysis.
Manage competing internal interests with respect to rate filings and oversee the process.
Lead the review of new product strategies, design, pricing, and implementation of rate changes.
Price alternative structures as needed.
Interact as needed with relevant regulatory authorities on filings. Testify as required in support of rate filings.
Lead the review of new product strategies, design, pricing, and implementation of rate changes.
Drive process improvements and provide insight to leadership from an actuarial perspective.
Oversee the Reserving process and projects related to Reserving, including but not limited to quarterly reserve reviews and monthly IBNR roll forwards.
Lead the development of new Reserving tools, advance reserving methodology in terms of data capture and analysis and lead the design and implementation of new processes.
Work with accounting, external actuaries, and auditors to provide accurate data, provide reconciliations and assist with calculations, resolve discrepancies and assist in any way necessary to assist in the completion of accurate financial statements with the Statement of Actuarial Opinion.
Manage competing internal interests and workload with respect to data requirements, ratemaking, rate filings and product development.
Provide data in support of actuarial, product and underwriting, and reserving initiatives.
Perform data manipulation, analysis, and automation, including but not limited to data cleansing and automated reporting.
May manage teams of actuarial analysts.
Ensure that data is correct, consistent, and robust. Perform proper data validation and reconciliation exercises.
Practice appropriate spreadsheet and data stewardship: Organize and document data, data sources, and calculations in such a way that it can be easily reviewed by a peer or external party.
Keep managers and team informed of activities and situations which will impact the achievement of corporate and department goals and objectives.
Present results and conclusions of analysis to other departments and senior management.
Keep up to date on the insurance environment, regulatory changes, social influences, and new actuarial and data methods. Be proactive in revising approaches and methods to continually improve all our work products.
Provide leadership on special projects related to ratemaking, reserving and financial analysis projects.
Perform other duties as required.
Supplemental Information:
This job description has been prepared to indicate the general nature and level of the work that the employees perform within their classification. This description is not and cannot be interpreted as an inventory of all the duties, tasks, responsibilities and qualifications required for the employees assigned to this job.
Education and Experience:
A Bachelor’s degree in actuarial science, mathematics, risk management or a related field.
Minimum of 8 years of actuarial experience, with homeowners and commercial lines experience preferred
Advanced proficiency in Microsoft Access, Excel, Work and Power Point.
Excellent communication skills, both written and oral.
Strong data and programming experience in an insurance environment is desired.
Proficient knowledge of SQL, MySQL, Oracle, or similar database languages is desired.
Proficient knowledge of R, Python, VBA, or similar programming languages is desired.
Advanced presentation skills.
Advanced analytical, problem-solving, and research skills.
Work extremely well independently.
Must possess strong work ethic and be a “team player”.
Project management skills. Lead project teams both with and without formal reporting authority.
Ability to work with multiple competing priorities.
Licenses and / or Certifications:
Associate of the Casualty Actuarial Society (ACAS) highly desired.
Commitment to attain Fellowship in the Casualty Actuarial Society (FCAS) desired but not required.