Associate Actuary - Retail Excess Casualty

AIG Insurance • Parsippany, NY

1d • Onsite

About The Position

At AIG, we are reimagining the way we help customers to manage risk. Join us as an Associate Actuary – Retail Excess Casualty to take on key responsibilities within a world-class actuarial function. Make your mark in Actuarial Our Actuaries are on the front lines, quantifying risk, pricing insurance and reserving losses for AIG’s major insurance operating companies, globally. We collaborate with Finance, Claims, Operations, Marketing and Risk Management, among other functions. As an AIG actuary, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage and mitigate risk. How you will create an impact We are seeking an actuary with industry expertise to support the Pricing function within our Retail Excess Casualty segment. The position involves profitability analysis/ deep dive, rater development and maintenance, large accounts pricing review, monthly business KPI reporting, assisting with annual budget and setting portfolio strategy. Additional duties include quarterly earnings-related reporting, business AvE, diagnostics and large loss reporting. They will partner with other actuaries in implementing best practices, analytical techniques and assessing the impact of loss trends and claims emergence. Also, they will be responsible for one direct report. Collaborate with underwriting to develop pricing, underwriting strategies, identify pockets of profitable growth opportunities and future underwriting actions. Support the business review process and portfolio deep dives, which include reviewing underwriting actions impacting loss ratios to access impact on current and future performance. Ensure accuracy of quoting and rating systems by working with Underwriters. Ensure execution of rate level indications, portfolio profitability exercise and rate reviews within planned time frame Collaborate with data team to drive process improvement and achieve actuarial transformation goals Development and production of premium adequacy reports and budget loss ratio estimates for various segments. Perform peer review for actuarial work products. Communicate with and advise Retail Excess actuarial lead, underwriters, comptrollers, claims department. Work effectively as part of a team and train junior staff to achieve AIG’s financial, strategic and operational objectives

Requirements

• BS in Actuarial Science, Mathematics, Statistics, or related area
• ACAS preferred or close
• +5 years or more experience in commercial casualty pricing preferred
• Strong analytical and problem-solving skills
• Work well both independently and as part of a team
• Proficiency in Excel, SQL, SAS, Python, R, or other programming languages preferred
• Strong business and collaboration skills and responsive to service needs and operational demands
• Effective time management skills
• Strong communication, presentation, and interpersonal skills

Responsibilities

• Profitability analysis/ deep dive
• Rater development and maintenance
• Large accounts pricing review
• Monthly business KPI reporting
• Assisting with annual budget and setting portfolio strategy
• Quarterly earnings-related reporting
• Business AvE, diagnostics and large loss reporting
• Partner with other actuaries in implementing best practices, analytical techniques and assessing the impact of loss trends and claims emergence
• Responsible for one direct report
• Collaborate with underwriting to develop pricing, underwriting strategies, identify pockets of profitable growth opportunities and future underwriting actions
• Support the business review process and portfolio deep dives, which include reviewing underwriting actions impacting loss ratios to access impact on current and future performance
• Ensure accuracy of quoting and rating systems by working with Underwriters
• Ensure execution of rate level indications, portfolio profitability exercise and rate reviews within planned time frame
• Collaborate with data team to drive process improvement and achieve actuarial transformation goals
• Development and production of premium adequacy reports and budget loss ratio estimates for various segments
• Perform peer review for actuarial work products
• Communicate with and advise Retail Excess actuarial lead, underwriters, comptrollers, claims department
• Work effectively as part of a team and train junior staff to achieve AIG’s financial, strategic and operational objectives

Benefits

• The position is eligible for a bonus in accordance with the terms of the applicable incentive plan.
• A range of competitive benefits, a summary of which can be viewed here: US Benefits Overview
• 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

What This Job Offers

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