SUMMARY Our Client is looking for a Senior Actuarial Analyst to join their team. They are located in Wooster, Ohio, and are willing to provide a relocation package to fill this role.
The Sr. Actuarial Analyst is responsible for achieving adequate, competitive pricing of all major insurance products (personal, commercial and farm). This includes monitoring financial results of individual products, implementing decisions that result from rate reviews communicating of pricing impacts to internal audiences and gaining rate filing approval from insurance department regulators. The Sr. Actuarial Analyst also works with projects intended to improve risk selection, claims settlements, or general financial improvement of the company.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Reviews, analyzes, and makes recommendations on specific product pricing. Obtains and analyzes competitor and rate bureau pricing along with researching new pricing methods. Works with the Product Analyst in developing rate review agendas.
Analyzes all required data that applies to company premium and loss experience. Extracts relevant data from company statistical databases. Performs standard actuarial rate level indications while performing analysis of rating variables and general rate levels.
Coordinates the implementation of rate review decisions with Strategic Development, Underwriting, Marketing and IT including updates of policy processing systems and release of revised rate manuals.
Ensures company compliance with state regulations regarding rate filings. This includes filing and seeking approval of revised rate levels with state insurance regulators. Coordinates with company Product Analysts regarding rate-filing submissions.
Provides information to Underwriting/Marketing staff pertaining to the pricing segmentation and classification studies, as appropriate.
Works with the Data Analysts to ensure that appropriate data is being captured in internal company systems in order to evaluate company loss experience and pricing.
Works with the Product Analysts regarding the pricing of new and revised insurance products.
EDUCATION and/or EXPERIENCE
BS/BA or equivalent in Actuarial Science, Mathematics or related course of study.
6+ years experience in rate making and/or loss reserve testing.
Advanced computer skills including spreadsheets and databases.
Progress towards CAS membership desirable but not required.
Good communications skills.
Familiarity with state insurance department regulatory processes.
CERTIFICATES, LICENSES, REGISTRATIONS Advancement towards CAS membership is desirable but not required.
LANGUAGE SKILLS Ability to communicate effectively with various audiences including analysts, programmers, technicians, insurance department personnel, underwriters, and marketing staff.
MATHEMATICAL SKILLS Advanced skills.
REASONING ABILITY Advanced ability to understand issues regarding price and profit and the ability to formulate appropriate recommendations.
WORK ENVIRONMENT Individuals in this position need to work both independently and with others. Attention to detail is critical. Most projects require adherence to strict timelines. Most projects directly impact the financial results of the company and are very visible to senior management.
Employer will assist with relocation costs.
About Corporate Ladder Search Partners
Corporate Ladder Search Partners Inc. is a professional search and staffing firm located in Northeast Ohio. Our areas of service include Accounting & Finance, Human Resources, Customer Service, Attorney/Legal, Office & Administrative, and other corporate level positions. We place experienced, qualified professionals who can immediately support your operations.