Senior Actuary

  • 35742
  • Non-Life - Actuarial
  • |
  • British Columbia, Canada
  • |
  • Aug 30, 2019
Insurance
RESPONSIBILITIES
  • Use actuarial modeling tools and techniques to develop and maintain rating models, continually optimizing the rating structure for home insurance, and other product lines as required.
  • Perform regular rate indications to set expectations for future losses and premium required to maintain desired financial performance.
  • Assess profitability of different product segments with a view to optimizing rating structures and providing guidance to underwriting.
  • Develop and maintain insight into competitive benchmarking of rates, and use this to help optimize rating structures.
  • Provide input on the structure and pricing of new product features or changes to product features.
  • Assess and qualify the impact that changes to the pricing strategy or coverages have on performance and the portfolio.
  • Make recommendations on data collection, tools, software and business processes to maximize insights and efficiency of the pricing function.
  • Collaborate with relevant stakeholders at all levels of the organization, including making and presenting recommendations to a variety of technical and non-technical audiences.
  • Analyze inputs, assumptions and results of external catastrophe modelling tools to assess the risk exposure of the home insurance portfolio to events such as earthquakes, wildfires and floods.
  • Monitor exposure accumulations to find opportunities for profitable growth and risk control.
  • Provide input on the reinsurance program strategy, including analyzing the program structure and price.
  • Work with reinsurance brokers to support the maintenance of the reinsurance program.
  • Research and recommend new risk mitigation options.
  • Use statistical and predictive modelling techniques to provide insight on varied projects across all parts of company’s insurance related businesses. This includes working with complex data from multiple sources.
  • Use predictive modelling techniques to gain insights into retention and new business, combined with insights on competitive benchmarking, to refine and optimize rating plans for a given outcome.
  • Use analytical tools to gain insights into the insurance portfolio, including monitoring trends, changes and risk.
  • Leverage analytics and technology to support recommendations for improving processes, product design and underwriting rules.
  • Communication of findings to varied audiences across the organization.
  • Provide ongoing value-added analysis and recommendations to senior leadership under a complex business environment to meet key strategic business objectives.
  • Work independently on complex projects and lead projects working with other members of the team.
  • Work with more junior members of the underwriting analytics team, assisting with their development and training across all technical aspects of actuarial work.
  • Assist with effective knowledge transfer within team.
  • Model and encourage use of best practices of actuarial techniques, modelling and analytics.
  • Agile collaboration with all relevant stakeholders across the organization.
QUALIFICATIONS
  • Undergraduate degree in Actuarial Science, Statistics, Mathematics, Economics, Natural Sciences, Engineering or similar discipline with emphasis on quantitative analysis and methods.
  • FCIA and/or FCAS designation.
  • Minimum seven years of experience in an actuarial role with responsibilities including personal lines ratemaking.
  • Proven understanding of database structures and logic and use of data science and statistical tools such as SAS, R or Python.
  • Demonstrated analytical capabilities, including critical thinking with strong attention to detail.
  • Practical knowledge of and experience with reinsurance.
  • Excellent written communication skills along with the ability to present results of analysis to a non-technical audience at all levels of the organization, including executive level.
  • Highly organized with demonstrated experience in solving problems.
  • Demonstrated experience managing/leading projects and meeting project deliverables.
  • Preferred:
  • Experience with catastrophe modelling and GIS tools.
  • Experience leading project teams, and/or developing junior analysts.
  • Experience with multiple corporate structures and systems.