Sr. Actuarial Analyst I

  • 37108
  • Non-Life - Actuarial
  • |
  • Michigan, United States
  • |
  • Mar 25, 2020
Insurance
RESPONSIBILITIES
  • Develops pricing for current or new property/casualty insurance coverage and products.
  • Coordinates and executes scheduled rate reviews and indications to ensure rates are adequate, not excessive or unfairly discriminatory, and internally consistent with experience.
  • Provides senior level analysis and preparation of competitive product and rate comparison reports.
  • Formulates and interprets mathematical ratemaking models using available tools.
  • Analyzes data, develops material and prepares appropriate communications.
  • Provides recommendations for improving methods, analysis and data gathering techniques used by the actuarial team.
  • Works with Actuarial Support in gathering and verifying data for rate indications, rate revisions and special projects.
  • Manipulates data for actuarial review using standard software packages.
  • Determines relevant factors and researches suitable trend indications for analysis, providing material and oral support to recommendations made to management.
  • Performs actuarial adjustments to meet the analysis purpose.
  • Analyzes competitor’s rate structures and coverage.
  • Develops and prepares competitor rate manual analysis.
  • Prepares reports, proposals, system documents and documentation as required.
  • Provides support/oversight to projects as required.
QUALIFICATIONS
  • Bachelor's degree in Mathematics, Actuarial Science, Statistics or a related field.
  • Successful completion of four or more actuarial examinations and a minimum of three or more years of experience in an actuarial environment.
  • Maintain eligibility in the Actuarial Professional Development Program following department guidelines.
  • Experience in three or more of the following:
  • Preparing quarterly rate indications.
  • Formulating and interpreting mathematical rate making models.
  • Preparing property and casualty rate filings.
  • Preparing competitive product and rate comparison analysis reports.
  • Calculating reserves.
  • Pricing property and casualty insurance products.
  • Completing actuarial research relating to insurance operations.
  • Experience with: Coordination and execution of projects.
  • 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.
  • Ability to: make oral presentations to business units and management.
  • Represent the department on inter-department teams.
  • Master Degree in Mathematics, Actuarial Science, Statistics or related field preferred.