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Job Summary:
This position is responsible for gathering and analyzing statistical data to help the company make wise sales and financial decisions. The outcomes of this position help the company manage risk, determine cost structures, reduce costs and increase profits. This position works with all management levels across the organization and is a direct report to the Manager of Product Development & Analytics.
Principal Duties and Responsibilities:
Pricing and Profitability
Analyze and quantify rating parameters and pricing products and provide recommendations when deviations and revisions from published standard assumptions are appropriate
Research, compile, and analyze historical actuarial data
Perform competitive analysis and assessment
Conduct due diligence, market analysis, statistical studies, production and cost forecast
Support corporate and business financial planning by analyzing loss reserves, calculating/estimating IBNR & WBNR, and performing catastrophe/exposure studies
Identify and propose actions to improve profitability of products and accounts
Risk Management and Rate Compliance
Prepare rate filings/exhibits and assist in developing pricing, underwriting and fraud prevention strategies
Utilize actuarial tools and develop ad hoc tools as necessary to quantify risks presented by a product and account
Build and improve actuarial files, models, and algorithms
Conduct periodic audits of underwriting files to determine if pricing models are appropriately employed
Assist in reinsurance terms evaluation
Product Development
Assist with the development of new insurance products and advise underwriters in making profitable decisions regarding current and prospective business
Analysis and Reporting
Create appropriate measurements and reports including but not limited to monthly analysis of production, underwriting results, expenses, cash flow, and financial performance
Determine deviation from target/projections and determine potential source of material deviations in results from expectation
Participate in development of the annual budget
Required / Desired Knowledge, Experiences and Skills:
Minimum of one year work experience in a corporate environment preferred
Minimum intermediate level experience using Microsoft Office Suite with an Excel emphasis
Experience employing and understanding standard concepts, practices, regulations, and laws within the insurance and actuarial fields preferred
Education/Certifications:
Bachelor's degree (B.A.) in mathematics, actuarial science, economics, finance or similar degree from an accredited college or university required
Physical Working Environment:
While performing the duties of this job, the employee is required to stand; walk; sit for long periods of time; use of hands to grasp, handle, or feel; reach with hands and arms; finger dexterity; talk; hear. The employee is occasionally required to climb or balance and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception and ability to adjust focus.
The above statements are intended to describe the general nature of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties and skills required of employees so classified.
Generali Global Assistance is an Equal Opportunity Employer M/F/Disability/Veteran
Full Time
09/29/2022
12/12/2022
us.generaliglobalassistance.com
Bethesda, MD
<25
The following is the career advancement route for Actuary 1 positions, which can be used as a reference in future career path planning. As an Actuary 1, it can be promoted into senior positions as an Actuary II that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Actuary 1. You can explore the career advancement for an Actuary 1 below and select your interested title to get hiring information.