Actuarial Analyst


Description
Provides technical, actuarial analyses in the areas of pricing, ratemaking, reserving, and predictive analytics. Supports and executes Company strategy as directed by the Chief Actuary.
 

Responsiblities include:

  • Prepares complex actuarial analyses requiring judgment and technical expertise for area of responsibility.
  • Completes assigned analyses on time and in accordance with Actuarial Standards of Practice. 
  • Provides proper documentation of work product.
  • Consults with business and product leaders to understand needs and ensure timely delivery of accurate Actuarial products and services. 
  • Works with Product Managers to develop and implement new products and expand into new markets.
  • Understands how program changes and rate revisions impact marketing, policy services, claims and I/S.
  • Includes other departments in rate revision and/or new product discussions as appropriate.
  • Works with state insurance departments as necessary to ensure expeditious regulatory approval of Company filings.
  • Manages assigned projects ensuring that they are delivered on time and within scope.
  • Prepares project plans and regular status updates to management including accurate estimates of necessary resources and timelines. 
  • Identifies issues and recommends mitigation strategies.
  • Ensures key stakeholders are identified and regularly informed of project status.
  • Executes on projects to achieve business objectives. 
  • Assists team in developing appropriate analyses, managing to customer expectations, and delivering results.
  • Provides organization and skill development for new employees.
  • Reviews the work of other Analysts and Technicians to ensure consistency, precision and accuracy.
  • Provides technical expertise in the design and delivery of Actuarial projects and services as well as for other corporate initiatives. 
  • Ensures soundness of actuarial analyses and consistency with Standards of Practice. 
  • Ensures that the work product supports business growth and profitability.
  • Contributes to the advancement of the Actuarial Science practice at ICW Group.
  • Helps to establish and promulgate best practices for actuarial analyses.
  • Participates in the development of an Actuarial Manual.
  • Helps provide database management and system development. 

Requirements

  • Bachelor's degree from a four-year college or university.
  • 1 CAS exam and/or 1 year actuarial experience preferred. 
  • Understanding of WC or PPA products and coverages and state regulatory requirements. 
  • Understanding of the various private passenger automobile markets: preferred, non-standard and financial responsibility. 
  • Some experience modeling private passenger automobile or Workers’ Compensation lines of business. 
  • Knowledge of SAS programming. Ability to comprehend and apply principles of advanced calculus, modern algebra and advanced statistical theory. 
  • Familiarity with Emblem Product Suite (Emblem Modeler, Classifier and Rate Assessor) a plus, but not required.Commitment to project targets and on-time delivery. 
  • Thorough knowledge of the statistical basis of actuarial models and ability to assess results. 
  • Ability to apply mathematical concepts such as frequency and severity distributions, determination of test reliability and validity, analysis of variance, correlation techniques, sampling theory and factor analysis.