Associate Actuary

What you will do

Coordinates and participates in the development of ultimates for current or new property/casualty insurance coverage and products. Coordinates and executes quarterly ultimate analyses to ensure reserves are adequate, not excessive or unfairly discriminatory, and internally consistent with experience. Leads department efforts in the research, design and implementation of new actuarial business and project plans. Reviews industry reserve trends and provides feedback.

Provides support to other areas in the interpretation of reserving data. Represents the finance department on internal and external project teams, task forces and meetings. Performs inflation and tail factor analysis. Prepares and presents information and recommendations to Senior Leaders, internal and external audiences.

Participates in the preparation and actuarial review of underwriting, pricing/product, and claims information. Reviews and analyzes recommendations for improving methods, analysis and data gathering techniques used by the actuarial reserving team. Assesses the impact of assigned projects/initiatives on the organization in terms of underwriting, claims, marketing, pricing/product and other business areas. Keeps current on new legislation/requirements. Provides recommendations to management regarding changes to product design or reserving structure and follow-up on system modifications.

Prepares budget estimates and projections for review and ensures resources are adequate to support current and planned goals and objectives.

• Participates in the department process related to the selection, hiring, training, and development, coaching and counseling of assigned staff.

Associate Actuary will earn a competitive salary of $140,000 - $170,000 annually with annual bonus potential based on performance.

Excellent and comprehensive benefits packages are just another reason to work for the Auto Club Group. Benefits include:

• 401k Match
• Medical
• Dental
• Vision
• PTO
• Paid Holidays
• Tuition Reimbursement

• Bachelor's degree in Mathematics, Actuarial Science, Statistics or a related field
• Designation of Fellow of the Casualty Actuarial Society and six years of experience in an actuarial environment
• Maintain eligibility in the Actuarial Professional Development Program following department guidelines

• Calculating reserves
• Calculating tail factors on long tail lines
• Calculating stochastic reserves
• Formulating and interpreting mathematical models
• Completing actuarial research relating to insurance operations
• Preparing quarterly rate indications
• Preparing property and casualty rate filings
• Preparing competitive product and rate comparison analysis reports
• Pricing property and casualty insurance products

• Coordination and execution of projects
• Managing actuarial students
• Use of statistical tools and software applications to complete assignments
• Preparing reports and exhibits for management review
• Analysis of technical studies and data and draw sound conclusions

Knowledge of:

• Insurance terminology, techniques, and concepts
• Actuarial methods and principals to obtain indications, complete projects, analyze results and make recommendations
• Extensive knowledge of personal lines insurance industry and competitors product offering
• Extensive knowledge of insurance industry trends and competitive environment

Demonstrated skills in:

• Preparation/presentation of material
• Managing workflow to achieve multiple goals
• Working individually and as part of a team
• Improving efficiency and effectiveness of the team
• Researching and mastering a new area or approach, e.g. statistical software, insurance system, etc.

• Make oral presentations to business units
• Represent the department on inter-department teams
• Ability to manage and train Actuarial staff in the following:
  • analysis of premium, claim, expense and economic data
  • completion of management reports, rate filings and pricing analysis

• Master or Doctoral Degree in Mathematics, Actuarial Science, Statistics or related field
• Extensive experience in personal lines Property and Casualty with specific focus on actuarial reserving or research

This is a hybrid work arrangement (time spent in office and remote). Depending on the employee's role and leadership's assessment, some employees will come in to an ACG facility on a weekly basis, a monthly basis, or on as needed basis for key meetings and collaborative activities. Most employees will be required to come into the office, at a minimum, for important departmental meetings or team building events.

Regular and reliable attendance is essential for the function of this job.

The Auto Club Group, and all its affiliated companies, is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity, sexual orientation, national…