Associate Actuary - North America Property

AIG • Chicago, IL

83d • $110,000 - $154,000

About The Position

We are seeking an actuarial professional to support North America Property, including Retail, Lexington, and Canada. The individual will work to streamline processes across the different Property segments. They will also partner with other pricing actuaries in implementing best practices analytical techniques, catastrophe modelers to incorporate results into pricing and quantify portfolio risk, and reserving actuaries in assessing the impact of loss trends and claims emergence.

Requirements

• At least an Associate of the Casualty Actuarial Society (ACAS).
• At least 5 years of commercial lines actuarial experience, preferably with significant commercial property pricing experience.
• Exceptional communication skills, including ability to develop and present clear and concise analysis and recommendations to senior management.
• Willing and able to continuously learn and adapt in a dynamic and fast changing environment.
• Solid understanding of catastrophe modeling fundamentals.
• Timeliness and attention to detail.

Responsibilities

• Work closely with the Chief Underwriting Office to develop pricing and underwriting strategies and identify pockets of opportunity for profitable growth as well as profitability-challenged areas.
• Review the parameters in the pricing systems, actively work to improve the pricing systems, and monitor underwriter adherence to pricing procedures and methodologies.
• Coordinate pricing, planning, and accumulation management efforts with cat modeling team to ensure adequate risk-adjusted returns contemplating expected loss, reinsurance costs, and increased capital needs associated with cat-prone business.
• Develop analytical tools to help underwriters assess the risks posed by insureds, aligning the pricing framework across the different underwriting platforms and business classes written in Lexington’s property operations.
• Work closely with reserving actuaries to understand sources of reserve development and ensure appropriate recognition of pricing and underwriting actions impacting those estimates.
• Provide recommendations on rating methodologies, parameters and tools to improve accuracy of technical pricing reflecting latest market and economic conditions and product offerings.
• Ensure alignment of tools, reporting metrics and goals with other property teams organizationally to optimize team efficiency while maximizing value and consistency across the property portfolios.

Benefits

• Base salary range for positions based in New York is $129,000-$154,000.
• Base salary range for positions based in New Jersey is $115,000-$148,000.
• Base salary range for positions based in Illinois is $110,000-$141,000.
• Eligible for a bonus in accordance with the terms of the applicable incentive plan.
• Comprehensive benefits package focused on health, wellbeing, financial security, and professional development.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees