Actuarial Analyst, Reserving

Location
Parsippany, New Jersey
Salary
Not Specified
Posted
Oct 26, 2021
Closes
Dec 25, 2021
Ref
4818#GIJ--Arch.1
Category
Actuary
Job Type
Not Specified
Career Level
Not Specified

Arch Reinsurance Company's Actuarial Reserving and Financial Reporting unit is a small group of 4 people that reports to the Chief Actuary. Since the whole company has about 50 employees, most of whom are in the same office in Morristown, NJ, this is an opportunity for an actuary to make an impact while interacting daily with the underwriting, accounting, claims, and IT departments, as well as local senior management and senior management of the Arch Capital Group. This job allows the employee to see and understand the entire reinsurance process, from beginning to end.

Job Responsibilities

  • Support for quarterly and yearly management reports of Arch Reinsurance results including both GAAP and Stat reporting
  • Reports include 10Q and 10K submissions, BMA report, actual to expected reports, significant change reports and MD&A exhibits
  • Maintain and support of files which produce the quarterly exhibits for reserve review meetings including maintenance of reporting patterns by contract, load data into QCR reserve exhibits for the meeting and preparation of individual studies for review at quarterly meetings
  • Support for Schedule P of Annual Statement and other parts of Annual Statement Transformation of data into accident year and ASLOB for filing
  • Interact with Arch Finance, Claims, IT and Underwriting departments to facilitate management reporting and reserve support; assist Actuarial Pricing as needed
  • Work with Sarbanes Oxley relating to actuarial reserving and management reporting
  • Special projects, including support for Annual Plan, modeling of Casualty Cat exposures, ORSA report and Specific reserve studies
Required Skills/Experience

  • Ability to extract data from company databases to populate reserving and management reports in an accurate, meaningful, clean and efficient manner
  • Knowledge of Access and SQL, a plus
  • Excellent communication skills, both written and spoken with actuarial and non-actuarial personnel
  • Understanding of roles of various departments outside actuarial to maximize company performance
  • Developed knowledge of actuarial techniques to improve quality of analysis
Desired Skills/Experience

  • 1-4 years of experience as an actuary, preferably in reinsurance
  • Two or more CAS actuarial exams
  • Advanced knowledge and experience in Excel, required
Education

  • Bachelor's degree in a quantitative field
The Company

Arch Re is a well-capitalized, leading diversified insurer that focuses on supplying significant capacity to the global reinsurance marketplace. We have the worldwide reach, agility and resources to support ceding companies capitalizing on changing market conditions and new opportunities in various lines and geographic areas around the globe. Our business strategy keeps operational controls tight and costs low, helping to maximize efficiencies for our broker partners. A subsidiary of Arch Capital Group Ltd., Arch Re has been recognized by clients around the globe for providing expert underwriting, skilled claims management, outstanding service and world-class product offerings.

Arch Capital Group Ltd. is a Bermuda-based company which provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. Arch offers competitive pay and a comprehensive benefits package. Additionally, Arch is committed to helping its associates create what's next by providing access to a variety of programs supporting your professional development and a culture that encourages innovation, collaboration and professional growth. We seek talent that thinks innovatively, values collaboration and will go the extra mile to serve our customers and develop our company.

#LI-AM1

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