Actuarial Expert

Our Actuarial Reserving team is currently looking for an Actuarial Expert based in Chicago. This is a hybrid role.

Your Team

Allianz Commercial employs the brightest, most passionate people in the insurance industry. We'd love for you to join our growing team! We invest in our people through training and professional development while supporting you along the way-all so you can meet your career goals. To us, the most important measure of our success is yours. The CFO actuarial reserving team is a key unit in the broader CFO function and strategic contributor to the long-term success of Allianz Commercial.

We are an experienced, diverse and hardworking team and we look forward to welcoming you onboard.

The Impact You Will Have

You will join the Actuarial team as an experienced professional, ensuring robust reserves are held by doing both independent actuarial analysis and actively collaborating with various stakeholders. You will derive forward- looking loss ratio views to inform business steering and quarterly closing. You will be comfortable and confident working with colleagues around the globe and presenting up to C-Suite level. Regular stakeholders will include: underwriting, claims and pricing teams - working together to understand trends, business mix movement and market development and ESG topics.

As an Actuarial Expert, you will ensure that best in class actuarial methods and techniques are adopted and implemented. Using your experience, you will address new and previously unknown challenges such as inflation impact on reserves.

Some of your specific responsibilities could include:

* Ensure that adequate loss reserves are estimated for your line(s) of business on IFRS 17 basis.

* Support the Actuarial Function team in derivation of a normalized loss ratio, and where relevant validate selected and booked NLR via annual reserve reviews.

* Support the reserving team in monthly closings and contribute to the presentation for the Loss Reserve Committee.

* Drive innovation and efficiency in all our processes, particularly to improve the quality in forecasts, achieving a high predictability.

* Peer review work from other team members and provide training and guidance to junior colleagues.

What You'll Bring to the Role

* Minimum 4 years business experience in the P&C industry, preferably spanning multiple actuarial areas with a focus in Reserving

* ACAS or near-ACAS

* Job specific knowledge with regard to market dynamics, standard concepts and approaches, regulations/compliance standards, reporting requirements (e.g., reinsurance and underwriting knowledge, reserving techniques, data flows, etc.)

* Finance and Insurance know-how (ideally P&C) as well as a healthy curiosity to understand complexities inherent in an insurance group (consolidation processes, legal vs management view) allowing for cross-departmental thinking and acting

* Ability to identify patterns and root causes in complex (e.g. ambiguous, from various sources) data and processes to rapidly distil key issues and provide insight in various situations

* Basic balance sheet understanding on IFRS 4 and IFRS 17 bases, and experience of closing and reporting related topics

* High level of analytical ability, capable of clearly communicating results and findings in a clear and concise manner

* Proficiency in R/Alteryx/Tableau/Python is a plus

* Experience in applying artificial intelligence (AI) and machine learning (ML) to improve business processes and decision-making is preferred.

The annualized base pay range for this role is $104,361 - $162,417.  The annual base salary range represents nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AzC total compensation package.

As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

Be advised that the position you are applying for involves responsibilities related to cash handling. As part of our commitment to ensuring the safety and security of our operations, all candidates ( internal and external) selected for this role will be required to undergo a background check. This process includes, but is not limited to, verification of criminal history and financial history.

By applying for this position, you acknowledge and consent to the background check as a condition of employment.

76684 | Actuarial | Professional | Allianz Commercial | Full-Time | Permanent

What's in it for you?

Let's care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible…