Actuary, Health Liability Pricing

Location
Somerville, Massachusetts
Salary
Open
Posted
May 04, 2021
Closes
Jul 03, 2021
Ref
83282400#GIJ--LibertyMutual.1
Category
Actuary, Claims
Job Type
Not Specified
Career Level
Not Specified

At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That's why we provide an environment focused on openness, inclusion, trust and respect. Here, you'll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession. We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more, please visit https://www.libertymutualgroup.com/about-lm/careers/benefits

 

Liberty Mutual has proudly been recognized as a “Great Place to Work” by Great Place to Work® US for the past several years. We were also selected as one of the “100 Best Places to Work in IT” on IDG's Insider Pro and Computerworld's 2020 list. We have been named by Forbes as one of America's Best Employers for Women and one of America's Best Employers for New Graduates—as well as one of America's Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: https://jobs.libertymutualgroup.com/diversity-inclusion

 

Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.

This is a GR 18 - GR19 range posting; the actual level/grade for this role will depend on the candidate's qualifications. 

Responsibilities include: 

  • Support the liability pricing function at NAS Health
  • Transactional pricing: evaluation and pricing of large liability and Custom accounts
  • Portfolio analysis: in-depth reviews of the portfolio's composition and profitability
  • Rating models: maintenance and enhancement of existing models and development of new models as necessary
  • Parameter studies: periodic data-driven reviews of pricing parameters
  • Clear communication of results of actuarial analyses to underwriters and claims personnel
  • Participation in discussions with lead Underwriters and Claims personnel regarding profitability and strategic direction
  • Participation in the reinsurance placement process as necessary
  • Responding to ad hoc analysis requests from Underwriting, Claims, and senior management
  • Assisting in the due diligence of prospective MGA Programs, including onsite MGA visits
  • Developing a consistent set of monitoring tools across all Programs to assess the profitability of the business, and if necessary, recommending underwriting or rating actions to make the business more profitable
  • Participating in MGA audits and discussions with MGA management on program positioning and profitability 

 

  • 7 to 10 years of actuarial experience, preferably in commercial lines
  • ACAS, or FCAS designation preferred
  • Strong interpersonal skills and ability to discuss analysis and observations with non-technical audiences and a desire to interact directly with Underwriting, Claims, Finance including Corporate Reserving, Senior Management, IT, Program Administrators and Reinsurers
  • The ambition to integrate the pricing actuarial function into the underwriting side of the business so that the actuarial perspective is viewed as a critical component of the strategic direction of the business
  • Strong technical and computer skills, an interest in data (collection, manipulation, report design, sensibility checks), and attention to detail
  • Ability to work independently and run multiple projects simultaneously
  • Desire to work in a fast-paced, fluid environment

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