Actuary Associate

AAA • Costa Mesa, CA

7d • Hybrid

About The Position

This is a hybrid role requiring three days in the office per week, and candidates must reside within driving distance of the corporate office in Costa Mesa, CA. The position focuses on developing pricing strategies by analyzing financial data and loss result trends, considering the factors that drive these changes. It involves developing recommendations for rating plans and scorecards for business classification, conducting competitive analysis to support rate plan development, and completing reviews of reserve levels to recommend appropriate reserves that accurately reflect experience. Additionally, the role involves developing forecasts of future loss results to support the budget process and other financial analyses.

Requirements

• Bachelor's degree, preferably in finance or mathematics, or equivalent combination of education and work experience required.
• 5-7 years’ experience in the actuarial field.
• Must have advanced computer skills, including Excel, Word, Power Point, SQL or SAS.
• Be an Associate of the Casualty Actuarial Society or close to designation.

Responsibilities

• Direct development of data to support the analysis of pricing, rating plans, reserving and research projects.
• Prepare specifications for Information Systems to develop the needed data extracts, and monitor the data developed for accuracy and completeness.
• Team with Product Management, Underwriting, Claims, Sales, Regulatory Affairs, and Office of the General Counsel to develop pricing strategies, assess the financial and marketing impact of those strategies and follow up to assure effective execution.
• Perform review of predictive models developed by analysts and senior analysts.
• Perform the review of loss reserves and recommend amounts required to maintain accurate and adequate levels.
• Prepare regulatory filings needed for rate and rate plan changes.
• Complete all correspondence, coordinate internal reviews before submission, and team with Regulatory Affairs to assure prompt approval by the regulators.
• Work with regulatory staff to respond to their questions.
• Perform analysis of competitors' rating plans and rate levels, identifying areas where they have competitive advantages and weaknesses.
• Provide recommendations for changes to existing rating plans, based on the analysis.
• Complete data calls for regulators, reinsurers and others as needed.
• Perform reviews to assure data passes all quality checks and submissions, meeting deadlines.
• Develop forecasts of anticipated loss experience, considering current results and environmental trends, to support the budget process and financial analysis projects.
• Analyze legislation, regulation changes and court decisions.
• Quantify effects and recommend actions to address any changes.
• May supervise subordinate actuarial, technical and/or administrative staff.
• Perform duties and responsibilities as assigned or required.

Benefits

• Health coverage for medical, dental, vision
• 401(K) saving plans with company match AND Pension
• Tuition assistance
• Floating holidays and PTO for community volunteer programs
• Paid parental leave
• Wellness programs
• Employee discounts (membership, insurance, travel, entertainment, services and more!)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level