Actuarial Assistant (Hybrid)
About The Position
Assists with preparing pricing analyses, reserve analyses, experience, and profitability reviews and/or state rate filings, and support of business units and other departments as needed. Builds actuarial and business expertise, including the pursuit of the FCAS designation. This position will be associated with specific department functions. This role will be involved in several of the items below. The specific items will depend upon the department (pricing versus reserving). All job duties must be carried out in compliance with internal controls and departmental review requirements. All job duties and responsibilities must be carried out in compliance with applicable legal and regulatory requirements. Note: (For NJ candidates) This role will be located at our future headquarters in Short Hills, N.J. Until the new headquarters is operational, the successful candidate will be offered the ability to work in our Branchville, N.J. location during this interim period.
Requirements
- Requires strong analytical skills and a commitment to developing an actuarial knowledge base.
- Effective communication and interpersonal skills also required.
- College Degree in Actuarial Science, STEM (Science, Technology, Engineering, Mathematics), or another analytical field preferred.
- Experience with programming languages or statistical modeling packages (e.g., R, Python, etc.) a plus.
Responsibilities
- Assist in preparing rate indications and recommendations. Participate in discussions with Corporate and/or Field Underwriting to develop recommendations. Prepare rate filings, working cooperatively with other areas such as Underwriting and Legal.
- Assist with monitoring price levels and profitability through periodic analyses. Assist in developing and delivering tools to drive appropriate policy level decision making.
- Apply advanced statistical concepts by assisting in the development of complex rating plan or other loss models, with direction from experienced modeler. Develop an acumen in advanced analytics.
- Assist in product development by estimating impacts of new or enhanced coverages and preparing rate pages and filing support.
- Assist in preparing actuarial premium indications for individual large accounts.
- Assist with quarterly loss and LAE reserve analyses. With appropriate guidance, prepare data files and templates. Analyze loss trends and develop preliminary projections of ultimate losses and IBNR for review by supervisor.
- Assist in the preparation of designated external and internal financial and management reports. These include but are not limited to 10-K/Q disclosures, statutory schedules (P), and the “AY Report”. Prepare routine reports and other submissions (e.g., data calls, excess profits).
- Support ceded reinsurance placement by providing information and data for broker submissions. Prepare routine data submissions. Populate and run reinsurance pricing templates.
- Prepare data, populate templates, and design non-complex Excel and Access applications. Identify opportunities for automation and implement with supervisor approval.
- Develop a foundational knowledge of the functions performed by the Actuarial department and how the department relates to other functional areas of the organization.
Benefits
- competitive base salary
- incentive plan eligibility at all levels
- comprehensive health care plans
- retirement savings plan with company match
- discounted Employee Stock Purchase Program
- tuition assistance and reimbursement programs
- 20 days of paid time off
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
