Associate Actuary - Retail Property

Location: Parsippany

Associate Actuary
- North America Property At AIG, we are reimagining the way we help customers to manage risk. Join us as a Associate Actuary
- North America Property 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 actuarial professional to support North America Property, including Retail 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. 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 Retail and Canada.

Provide quarterly analysis and rate need indications for Canada Property Programs 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

What we are looking forAt 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.

For positions based in New York, the base salary range is $129,000-$154,000, for the positions based in New Jersey, the base range is $115,000-$148,000, and for positions based in Illinois, the base range is $,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits Overview#LI-AIG #pricing actuary #actuarial careers #commerciallinesactuary

At AIG, we value in-person collaboration as a vital part of our culture, which is…