Actuarial Professional

Pay: $67,724 to $175,909 (DOE)

As a member of the actuarial team, you’ll support SFM’s business needs and strategic goals by analyzing, evaluating, and modeling business processes and outcomes. This role can be filled at the Actuarial Analyst (entry level) up through the Sr. Actuary (FCAS credentialed) level, depending on work experience. Your project work and assignments will be geared towards your experience level, while providing the opportunity to grow and develop.

This position will afford you the opportunity to drive the execution of the core actuarial duties of reserving, reinsurance, rate making, financial projections, and claim calculations focusing on Workers’ Compensation Insurance. In addition, we’ll count on you to provide expertise, including consultation and recommendations, on actuarial models and issues. SFM believes that our exceptional and motivated employees are our greatest strength.

You will have many opportunities to grow and stretch yourself while giving you balance in your life. SFM offers a flexible hybrid work environment, so some office time is required. The Corporate Headquarters are in Minnesota.

• Reserving: Conducts in‑house financial loss and expense reserve calculations while collaborating with consulting actuaries in related analyses and presentations. Performs financial projections, including but not limited to accounting and budgeting for frequency, severity, audit, expense and annual statement. Provides individual claim projections for case reserve, settlement and interest purposes.
• Rate making: Conducts reviews of rating components for insurance rates, procedures and plans. Assists in preparation and coordination of all rate filings necessary for Departments of Insurance.
• Pricing: Monitors pricing including loss sensitive and dividend plans, making recommendations for changes when appropriate. Develops pricing methodologies, tools and assumptions.
• Reinsurance: Analyzes reinsurance contracts and retention selections. Interfaces with reinsurance broker to understand and implement alternative structures/offerings where appropriate.
• Analytics: Participate in corporate predictive modeling initiatives as part of department cross‑training and development. May participate in Enterprise Risk Management and Business Intelligence initiatives.

• Business Partnership: Provides ad hoc data analyses as requested. Participates in company initiatives and projects, including but not limited to those with underwriting, claims, finance and Information Services. Works extensively with business leaders and technical experts to develop innovative business solutions and insights. Acts as a champion to leverage internal and external data to improve efficiencies, decision‑making and allocation of resources.
  
  Will mentor business on value proposition of use of analytics to overhaul existing processes. Use analytics to analyze and make recommendations on new opportunities.
• Communication: Communicates effectively with leaders and management on project status and work assignments. Presents analysis findings to leaders, internal stakeholders, vendors, clients and industry conferences. Provides clear and concise documentation.

• Bachelor’s degree in Mathematics, Actuarial Science, Statistics or related quantitative field.
• Must be on the Actuarial exam track, having passed two exams (or more) in pursuit of Associate of the Casualty Actuarial Society (ACAS) or Associate of Society of Actuaries (ASA) designation, preferred.
• Highly desirable to have 3 or more years of analytical experience such as actuarial, modeling or analytics in an insurance setting, or other relevant experience.
• Property/casualty with workers’ compensation insurance experience preferred.
• ASA, ACAS designation or Fellow of the Casualty Actuarial Society (FCAS) is a plus.
• Some experience with statistical modeling and/or programming preferred, including working knowledge of Python, SAS, R or Visual Basic for Applications (VBA).
• Strong analytical and problem‑solving skills, with sound judgment, decision‑making capabilities and curiosity to find…