Actuarial Analyst or Senior Actuarial Analyst

Zurich Insurance Group•Chicago, IL

1d•Hybrid

About The Position

Zurich North America is seeking an Actuarial Analyst or Senior Actuarial Analyst to join our Property Reserving team, with a specific focus on Crop and Surety. The role is ideally based in Schaumburg, IL, but consideration may be given to candidates in other Zurich North America office locations. This position involves conducting quarterly premium and loss reserve analyses, preparing materials for the reserve governance committee, ensuring accurate reflection of loss reserves and IFRS 17 components in financial close, and performing loss ratio planning and forecasting. The role also requires collaboration with Underwriting, Claims, Finance, and Pricing teams to gain insights into trends and emerging issues, aligning with Pricing colleagues on future loss ratios, and communicating reserve recommendations and financial impacts to management. The specific level, Actuarial Analyst or Senior Actuarial Analyst, will be determined by the hiring manager based on the applicant's experience and qualifications.

Requirements

Basic Qualifications - Actuarial Analyst: Zurich Certified Insurance Apprentice, including Associate Degree and 2 or more years technical/insurance experience OR Bachelors Degree with 3.0 cumulative GPA and No prior experience required in the Actuarial area AND Successful completion of one or more actuarial exams
Basic Qualifications - Senior Actuarial Analyst: Zurich Certified Insurance Apprentice, including Associates Degree OR Bachelors Degree AND Successful completion of 5 or more actuarial exams (applicable to FCAS designation or equivalent international certification) with 2 or more years of experience in the Actuarial area OR Successful completion of 3 or more actuarial exams (applicable to FCAS designation or equivalent international certification) with 3 or more years of experience in the Actuarial area

Nice To Haves

Previous actuarial internship or related experience
Successful completion of two or more actuarial exams
Dedication to the Casualty Actuarial Societies’ accreditation exam process with a goal of obtaining both ACAS and FCAS
Ability to analyze data and offer insight to non-technical professionals
Outstanding written and verbal communication skills
Experience with Microsoft Office and/or knowledge of statistical analysis software

Responsibilities

Conduct quarterly premium & loss reserve analyses to make recommendations for quarterly financial results including IFRS 17 components of discount and risk adjustment.
Assist in the preparation of materials for quarterly reserve governance committee.
Ensure loss reserves and IFRS 17 components are appropriately reflected in the financial close.
Perform loss ratio planning & forecasting including IFRS 17 elements.
Collaborate regularly with Underwriting, Claims, Finance, and Pricing to develop insights on trends and emerging issues on the insurance portfolios.
Engage and seek alignment with Pricing colleagues on forward looking loss ratios.
Communicate reserve recommendations with financial impacts along with insights derived from reserving work to management within Actuarial, Finance, and Underwriting.