Actuarial Analyst

Westfield•Chicago, IL

About The Position

We are seeking an Actuarial Analyst to provide actuarial pricing support for Westfield’s US Specialty lines of business. In this role, you will experience wide-ranging opportunities to develop your actuarial skillset on complex classes including Excess Casualty, Specialty Property, Financial Lines, and Professional Lines. Alongside a talented group of Pricing Actuaries, you will interact directly with our underwriting leaders to implement market-leading pricing and analytical capabilities which will directly influence strategic business decisions. We are looking for innately curious, detail-oriented, innovative, and highly motivated individuals to join the Actuarial team in our New York or Chicago office.

Requirements

Bachelor’s degree within Actuarial Science, Statistics, or similar technical field
At least 2 Exams toward qualification by the Casualty Actuarial Society or equivalent professional body
Actuarial or related internship experience at an insurance carrier, broker, or consultancy; understanding of actuarial concepts such as loss development and exposure rating
Advanced skills in Microsoft Excel and familiarity with coding in SQL, VBA, or R/Python
Experience with statistical modeling and predictive analytics
Ability to work with large datasets and ensure data integrity
Strong written and verbal communication skills and an ability to explain technical concepts to a wide audience
Ability to prioritize competing demands and requests to complete work within required time constraints
Self-starter that is energized by independent learning and research

Responsibilities

Assist in conducting profitability and segmentation analyses to identify profitable growth opportunities and areas requiring remediation.
Prepare monthly and quarterly reports on pricing and portfolio performance, monitoring key actuarial metrics including risk-adjusted rate change, actual vs. technical price, and mix of business.
Assist in building and analyzing exposure profiles to assess portfolio composition and concentrations of risk.
Support regular improvements to technical pricing models including enhancements for unique structures and implementing more comprehensive data capture
Collaborate with underwriting teams to perform pricing / profitability evaluations for individual accounts as needed.
Partner with other functions to improve data quality and integration into pricing tools and analytical frameworks.
Contribute to actuarial studies and research projects aimed at improving pricing sophistication, drawing on predictive modeling techniques.
Assist in actuarial due diligence for new product launches and program opportunities, including development of pricing structures and regulatory support.
Improve efficiency of data extraction and manipulation processes for routine projects.
Communicate analytical insights to underwriting and business partners to inform decision-making and strategy.