Assistant Actuary, Loss Trends Analytics - Global Retail Markets
- Career Level
- Not Specified
Join our community of over 500 credentialed actuaries and students. Our actuaries enjoy intellectual challenge, rewarding work and positions of respect. They perform critical pricing, underwriting, reserving, and research assignments, and they are key contributors to special projects, including mergers and acquisitions, capital allocation, and enterprise risk management. Our actuaries develop and apply state-of-the-art techniques and sophisticated models to a wide variety of business problems. Once credentialed, our actuaries continue to expand their skills by working in multiple business units throughout their careers. They work not only in traditional actuarial roles in personal and commercial lines, but in product management and other areas of the company that require a combination of technical expertise and practical business decision-making.
Liberty Mutual Global Retail Markets Actuarial is seeking an Assistant Actuary for the Loss Trend Analytics team supporting Business Insurance. This individual will be responsible for performing deep dives into emerging loss trend risks; using advanced analytical and multivariate techniques to forecast accident frequency and severity for both Liberty Mutual and the industry; and communicating the results of their work to senior management and other stakeholders.
The successful candidate will have good business judgment and influencing skills, enjoy identifying and solving complex analytical problems, be comfortable owning and independently driving projects that receive significant visibility, and possess the ability to explain such work in non-technical (business) contexts. Good communication and collaboration skills are essential as there will be a significant level of interaction with other functional areas (e.g., Finance, Product Management, Claims, and Reserving).
- Maintain status in Actuarial Student Development Program
- Perform in-depth analytical analyses, using univariate and multivariate approaches, to explain historical frequency and severity and forecast future loss trends
- Stay current on forces that could impact loss trends today or in the future (e.g., unemployment rate, medical inflation, distracted driving)
- Collaborate with cross-functional areas such as Product and Claims to understand and isolate various drivers of loss trends
- Example projects include macroeconomic time series regression, generalized linear models for trend projections, deep dives into drivers of loss trend changes, and participation on cross-functional working groups
- Provide clear and concise communication of technical actuarial work to technical and non-technical audiences, and on cross functional teams
- Maintain clear and concise documentation of methods and activities
- Interact with and provide technical assistance and information to peers, senior managers, and others within and outside of the organization
- Mentor, motivate, and train less experienced staff and peers
- Direct the development of actuarial tools.
- Attend industry and internal LMG actuarial meetings; represent company at external meetings as necessary
- Complete required training
- Minimum 35 years relevant experience required.
- Passing grades on a minimum of 7 Casualty Actuarial Exams is required; ACAS preferred.
- Commitment to achieving Fellowship in the Casualty Actuarial Society (FCAS).
- Bachelor's degree required.
- Sound knowledge of actuarial techniques and standards, as well as other business operations including finance, product management, and claims.
- Strong communication and interpersonal skills and ability to build relationships and interact effectively with others within and outside the organization.
- Ability to motivate and mentor peers.
- Strong advanced analytical and problem-solving skills, preferably familiarity with multivariate modeling techniques.
- Ability to work independently and drive projects from inception to completion.
- Strong MS Office Excel and SAS skills preferred; Ability to build complex models.
We value your hard work, integrity and commitment to positive change. In return for your service, its our privilege to offer you benefits and rewards that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
At Liberty Mutual, we give motivated, accomplished professionals the opportunity to help us redefine what insurance means; to work for a global leader with a deep sense of humanity and a focus on improving and protecting everyday lives. We create an inspired, collaborative environment, where people can take ownership of their work; push breakthrough ideas; and feel confident that their contributions will be valued and their growth championed.
Were dedicated to doing the right thing for our employees, because we know that their fulfillment and success leads us to great places. Life. Happiness. Innovation. Impact. Advancement. Whatever their pursuit, talented people find their path at Liberty Mutual.
Primary Location: United States-Illinois-Chicago
Education Level: Bachelor's Degree (16 years)
Travel: Yes, 10 % of the Time