Actuarial Analyst

EMC Insurance Companies•Des Moines, IA

About The Position

At EMC, we’re all about working together to make an impact. As part of our team, you’ll have the opportunity to grow, contribute, and gain experience that matters. We strive to be caring leaders, close partners, and responsive experts—always supporting each other to do our best work. Join us, and let’s improve lives together. Essential Functions: Performs work assignments for pricing, reserving, and/or modeling, and collaborates on larger work assignments lead by senior team members: Performs pricing, reserving and/or modeling work assignments including data preparation and analysis and makes initial recommendations to team Participates in rate and reserve reviews and the reviews of existing models by applying industry standard methodologies and techniques Reviews and addresses potential challenges posed by states or lines of business Recognizes, acknowledges, and documents assumptions Identifies and calculates impacts of potential problems and solutions Performs quality control functions as part of peer review process Utilizes Microsoft office products such as Excel, Word, PowerBI, as well as programming languages such as SQL for pricing and reserving analysis: Maintains and utilizes assigned workbooks and databases Recommends modifications for improvements to workbooks, work products, and databases to people leader and/or senior team members. Implements and documents approved improvements as assigned Performs data/analytical assignments: Prepares data for analysis and completes simple data validation checks Organizes information into spreadsheets and databases Researches new modeling techniques and/or predictive variables Produces basic data visualizations and reports Documents data processes, assumptions, and outputs Participates on and provides support for special projects lead by other Actuarial team members: Completes competitive analysis Prepares filings and filing support for enhanced/new rating algorithms, products, and coverages Explores new reserving line split and new reserving techniques Analyzes legislative or regulatory changes and reacts appropriately Documents circulars Makes initial recommendations to team as appropriate Conducts testing for implementation Researches and follows industry trends Studies for Actuarial exams. Engages in self-directed and collaborative learning of actuarial methodologies and techniques, including asking questions to learn context and data sources. Develops skills and knowledge of insurance operations

Requirements

Bachelor’s degree in actuarial science, math, or statistics
Completion of one actuarial exam and/or prior actuarial internship experience
Working knowledge of mathematics, probability, statistics, and financial mathematics
Proficiency in Pricing or Reserving in at least one line of business
Proficient working knowledge of Microsoft office products (Excel, Word, Powerpoint, Power BI)
Knowledge of at least one programming language, such as SQL preferred
Strong analytical, investigation and problem-solving abilities

Responsibilities

Performs work assignments for pricing, reserving, and/or modeling, and collaborates on larger work assignments lead by senior team members
Performs pricing, reserving and/or modeling work assignments including data preparation and analysis and makes initial recommendations to team
Participates in rate and reserve reviews and the reviews of existing models by applying industry standard methodologies and techniques
Reviews and addresses potential challenges posed by states or lines of business
Recognizes, acknowledges, and documents assumptions
Identifies and calculates impacts of potential problems and solutions
Performs quality control functions as part of peer review process
Utilizes Microsoft office products such as Excel, Word, PowerBI, as well as programming languages such as SQL for pricing and reserving analysis
Maintains and utilizes assigned workbooks and databases
Recommends modifications for improvements to workbooks, work products, and databases to people leader and/or senior team members.
Implements and documents approved improvements as assigned
Prepares data for analysis and completes simple data validation checks
Organizes information into spreadsheets and databases
Researches new modeling techniques and/or predictive variables
Produces basic data visualizations and reports
Documents data processes, assumptions, and outputs
Completes competitive analysis
Prepares filings and filing support for enhanced/new rating algorithms, products, and coverages
Explores new reserving line split and new reserving techniques
Analyzes legislative or regulatory changes and reacts appropriately
Documents circulars
Makes initial recommendations to team as appropriate
Conducts testing for implementation
Researches and follows industry trends
Studies for Actuarial exams
Engages in self-directed and collaborative learning of actuarial methodologies and techniques, including asking questions to learn context and data sources
Develops skills and knowledge of insurance operations

Benefits

More than 105 years of financial strength and stability
Named a five-star insurance carrier by Insurance Business America
Two-time recipient of the Best Practices Award of Excellence from the Independent Agents & Brokers of America
Multiple locations recognized as Top Workplaces based solely on team member feedback
Corporate culture that engages and empowers team members to achieve their best
Outstanding benefits with life, medical, dental, vision and prescription drug coverage
Competitive paid time off plan and a full day of volunteer time off annually
Financial incentives, including a 401(k) plan match, pension plan, OneEMC bonus plan and recognition and anniversary awards
Professional development and growth opportunities, including tuition reimbursement
Wellness initiatives to improve team member well-being and reduce health insurance costs
Flexibility to dress for your day and opportunities for alternative work arrangements