Actuary STP I
Support the profit, growth, and operational objectives of our North American Specialty (NAS) Bermuda Liability businesses (including Excess Casualty, Financial Lines, Healthcare, and Special Risk) by performing advanced actuarial pricing analyses. The role will involve working closely with the Senior Actuary and Underwriters to understand drivers of business performance and develop appropriate portfolio level pricing strategies accordingly.
- Primary responsibilities will include semi-annual completion of profitability reviews; developing, maintaining, and enhancing rating tools; and producing a consistent set of monitoring tools to assess the health of the business.
- Works independently with Product Management, Underwriting, Finance, IT, Claims, or other areas on complex, cutting edge actuarial analyses and makes recommendations regarding appropriate courses of action.
- Responsible for solving unique and complex problems that have a broad impact on the unit. Contributes to business strategy within unit, providing actuarial partnership.
- Regularly advises senior management on actuarial or mathematical techniques in determining the appropriate courses of action on issues such as: pricing, rates, and related matters; the development and use of pricing models/tools; business planning; contingency plans; or other financial studies.
- Responsible for identifying and acting on technical opportunities for innovation that have tactical impact. Accountable for understanding emerging trends, and validating trends with other business segments and external sources. Adapts tools to unfamiliar or unique situations.
- Assists in developing departmental policies and procedures.
- Manages or participates in studies that underlie actuarial assumptions and are designed to improve risk selection, pricing, and reserve setting, etc.
- Monitors and analyzes financial results in order to communicate the impact of strategic and operational plans. Develops and revises strategic and tactical plans as necessary to meet corporate objectives and respond to environmental changes.
- Identifies data requirements for analysis, tool development, reporting and decision making. Ensures the organization uses it effectively to reach profit and growth objectives.
- May profile the book of business from a financial perspective to quantify levels of risk and ensure that desired quality is maintained.
- Bachelor`s degree required
- Minimum of 7 years of progressively more responsible experience in an actuarial role, some of which may include experience as an actuarial candidate taking exams
- Strong analytical skills with solid understanding of all casualty actuarial techniques, standards, and assumptions
- This position requires an experienced and knowledgeable actuarial viewpoint in a wide variety of actuarial subjects, and in company, industry, and regulatory practices
- Knowledge should include data, methodologies, systems and platforms
- Advanced to expert knowledge of specialized software, actuarial and statistical methods, tools, and the existence of programming languages
- Able to undertake new processes/analysis based on cutting edge research and technologies, within and outside the insurance industry
- Demonstrated ability to exchange ideas and convey complex information clearly and concisely, both verbally and in writing
- Ability to make decisions with incomplete information
- Ability to give effective training and presentations to senior management and other groups
- Fellowship in the Casualty Actuarial Society (FCAS) or Fellowship in the Society of Actuaries (FSA) designation preferred, or comparable actuarial education/designation combined with relevant experience
- Insurance designations desirable
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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 about our benefit offerings please visit: https://LMI.co/Benefits
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.