Actuary Analyst I
About The Position
The Actuarial Analyst I is an entry-level role supporting insurance product analysis, pricing work, financial forecasting, and actuarial reporting to advance company goals for profitability and growth. Under the guidance of senior actuarial staff, the analyst helps analyze product profitability, model risks, identify process improvements, and support accurate, compliant actuarial work. The role collaborates with internal teams and, as needed, external stakeholders such as auditors, consultants, and regulatory bodies. It offers opportunities to build technical and business skills, including progress toward CAS exams. This is a hybrid position with regular in-office time to support training and mentorship. The role involves the physical demands described in the posting, including frequent sitting, occasional standing and walking, and occasional lifting or moving of up to 10 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Requirements
- Bachelor’s degree in mathematics, Actuarial Science, or a related field.
- No prior industry experience is required.
- Ability to pursue ACAS/FCAS designation from the Casualty Actuarial Society.
- Strong analytical skills.
- Strong communication skills, including written, verbal, interpersonal, and presentation skills.
- Ability to work independently and in a team environment.
Nice To Haves
- Actuarial or insurance internship or co-op experience.
- Exposure to programming languages or platforms such as VBA, R, SQL, or Emblem.
- Working knowledge of Excel, Access, and/or equivalent software.
- Passage of one or more actuarial examinations, such as Exam P or FM.
Responsibilities
- Support the development of products, rates, rating plans, pricing strategies, and financial forecasts under the guidance of senior actuarial staff.
- Assist in modeling and analyzing product profitability and associated risks.
- Assist in analyzing and presenting pricing findings, testing new approaches, and improving projection accuracy.
- Identify and implement process improvements to increase efficiency, applying actuarial and technical knowledge.
- Support ad hoc analyses for the product team and claims analyses.
- Analyze trends, factors, and issues that impact results and support the development of recommended action plans.
- Assist with forecasting business expenses.
- Produce quarterly rate level indications and help communicate changes and their key drivers.
- Review loss development patterns and support the selection process for each product.
- Coordinate with the Product Department to prepare state filing documentation and assist with responses to Departments of Insurance, including rate level indications, state-required exhibits, and actuarial certifications.
- Collaborate with third-party consultants as necessary and support auditors with information requests.
- Assist with all aspects of predictive modeling, including scope, data construction, modeling, and implementation.
- Assist with quarterly reserve analysis and prepare monthly reserving reports.
- Prepare monthly estimated loss ratio reports for the accounting team.
- Assist the accounting team in producing annual statements.
- Review own work for accuracy and incorporate feedback from senior team members.
- Participate in training and development to build actuarial, technical, and business knowledge, including progress toward CAS exams.
- Perform other duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
