Assistant Actuary

  • 38720
  • Non-Life - Actuarial
  • |
  • Michigan, United States
  • |
  • Dec 14, 2020
insurance
RESPONSIBILITIES
  • Coordinates and develops pricing for current or new property/casualty insurance coverage and products
  • Coordinates and executes scheduled rate reviews to ensure rates are adequate, not excessive or unfairly discriminatory, and internally consistent with experience
  • Provides recommendations for improving methods, analysis and data gathering techniques used by the actuarial team.
  • Assesses the impact of assigned projects on the organization in terms of underwriting, claims, marketing, finance and other business areas.
  • Leads the economic capital modeling function for current or new insurance, banking, or member services and products
  • Coordinates and executes scheduled capital model updates to ensure capital adequacy and appropriate returns on capital
  • Provides recommendations for improving methods, analysis and data gathering techniques used by the ERM team and broader organization
  • Assesses the impact of assigned projects on the organization in terms of underwriting, claims, marketing, finance, banking and other business areas.
  • Keeps current on new legislation/requirements
  • Provides management with sound recommendations regarding changes to product design or rating structure and provides follow-up on system modifications
  • Keeps current on actuarial issues, software tools and emerging issues affecting product lines.
QUALIFICATIONS
  • Bachelor's degree in Mathematics, Actuarial Science, Statistics or a related field.
  • Designation of Associate of the Casualty Actuarial Society and a minimum of five years’ experience in an actuarial environment.
  • Maintain eligibility in the Actuarial Professional Development Program following department guidelines.
  • Extensive experience in/with:
  • Coordination and execution of projects
  • Use of statistical tools and software applications to complete assignments
  • Peparing reports and exhibits for management review
  • Analysis of technical studies and data and draw sound conclusions
  • Modeling and quantitative analysis
  • Abilitiy to make oral presentations to business units/management and represent the department on inter-department teams
  • Experience in five 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 in five or more of the following:
  • Developing, improving and maintaining economic capital models
  • Formulating and interpreting mathematical models
  • Calculating reserves
  • Pricing property and casualty insurance products
  • Completing actuarial research related to insurance operations
  • Incorporating economic scenario generators into asset modeling
  • Analyzing and interpreting catastrophe model output
  • Modeling of financial risks, including credit, market, liquidity, and operational risks