Actuary - US Programs

AIG•Parsippany, NJ

4d•$140,000 - $175,000•Onsite

About The Position

At AIG, we are reimagining the way we help customers to manage risk. Join us as an Actuary - US Programs to take on key responsibilities within a world-class actuarial function. Make your mark in the Actuarial Team As an actuary at AIG, you will be challenged and encouraged to reach your greatest potential. Every day will bring new opportunities to stretch your analytical and problem-solving skills as you improve how we predict and mitigate risk. Our actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG’s major regulated and rated insurance operating companies globally. Our actuaries support AIG’s businesses and are responsible for technical pricing, product development analytics and performance measurement. They collaborate with Marketing, Operations and Financial Management. How you will create an impact We are seeking a senior pricing actuary to support our growing US Programs business. The actuary will help elevate the technical capabilities of the underwriting team through dynamic work projects such as new program due diligence & onboarding, rate filings, rate studies, price monitoring, trend analyses, and building out portfolio management & steering and insight tools. The individual will be a trusted business partner, working with groups like underwriting and product development to understand account decision making and pricing practices to support Programs in ensuring profitable growth. This will also be a external/client facing role as the actuary will engage with MGA Underwriters and Actuaries. Our actuaries work closely with our MGA partners as well, providing insight and tool assistance as a value add for our business.

Requirements

BS in Actuarial Science, Mathematics, Statistics, or related area preferred
ACAS or FCAS credential
6+ years Programs pricing experience or 6+ years of Treaty Reinsurance Pricing, or 8+ years of P&C pricing experience in multiple lines
Experience across a broad array of Commercial Lines, including: Property, Auto, General Liability, and Professional Liability
Familiarity with CAT models and the modeling process
Experience in SQL and/or R highly preferred, Power BI or Tableau preferred
Strong relationship building skills, with the ability to influence others and drive a process to a conclusion while meeting critical deadlines are critical to success.
Ability to dive into technical and execution level details, do hands-on work, connect the dots while thinking strategically.
Work well both independently and as part of a team
Flexibility and effective time management skills
Excellent communication, presentation, and interpersonal skills

Responsibilities

Lead rate studies and communicate results for the US Programs segments.
Identify areas to explore further to diagnose potential areas of concern and recommend remediation strategies
Perform due diligence analyses for prospective business and support onboarding for approved programs
Manage renewal process for large/national accounts
Support rate filings for admitted programs, collaborating with product development and general counsel
Work closely with underwriting business partners to review market trends, understand portfolio shifts, identify pockets of profitable business, and help management develop and quantify the impact of underwriting actions
Establish and manage relationships with MGA partners and actuaries
Understanding of reinsurance structures and the ability to calculate cost of reinsurance
Estimate, review, and evaluate actual monthly claim emergence against expectations
Support the annual planning process
Ensure model validation, SOX compliance and documentation standards are met

Benefits

The base salary range for this position is $140,000-$175,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan.
In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits Overview.
Enjoy benefits that take care of what matters At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.

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