What are the responsibilities and job description for the Actuarial Director position at Berkley?
Company Details:
At Berkley Program Specialists, we are dedicated exclusively to program business and excel at partnering with program administrators who possess significant underwriting expertise for homogeneous, niche classes of business. We enjoy the strength and stability that comes with being a Berkley Company and underwrite our programs through our member insurance companies, which are A (Superior), Financial Size Category XV, by A.M. Best.
Responsibilities:
A secondary opportunity for this position can be to help with reinsurance treaty pricing opportunities should the candidate possess the skill set and experience.
At Berkley Program Specialists, we are dedicated exclusively to program business and excel at partnering with program administrators who possess significant underwriting expertise for homogeneous, niche classes of business. We enjoy the strength and stability that comes with being a Berkley Company and underwrite our programs through our member insurance companies, which are A (Superior), Financial Size Category XV, by A.M. Best.
Primary responsibility to be lead actuarial support for several of the company’s programs. This will involve completing quarterly pricing reviews and communicating the results to the company stakeholders, monthly price monitoring, rate filings and class analyses where necessary. The position will work with underwriting, finance, claims and IT departments as they will be involved with the support of all facets of their programs. Additional responsibilities include support of the Chief Actuary in the quarterly reserving process and the development of dashboards and metrics to help the team maximize the program profitability.
A secondary opportunity for this position can be to help with reinsurance treaty pricing opportunities should the candidate possess the skill set and experience.
- Complete quarterly program pricing reviews.
- Communicate results, trends, and key aspects of the reviews to the Underwriting team and Senior management.
- Collaborate with other members of the Actuarial team and apply appropriate actuarial reserving techniques to determine ultimate losses and participate in the quarterly close process.
- Develop and complete monthly rate monitors, interpreting and communicating the results to the Underwriting team and Senior management.
- Complete class analyses on programs to help maximize profitability
- Create dashboards in Power BI to make program data and performance readily available to BPS team.
- Provide support to other departments as needed including underwriting, finance, claims and operations.
- Regular and predictable attendance
- Other duties as assigned.
- Bachelor’s degree in a related field (mathematics, actuarial science, statistics or equivalent).
- Minimum of 5 Casualty Actuarial Exams Completed.
- Excellent interpersonal and communication skills
- 8 years of casualty actuarial experience with primary product pricing and reserving
- Reinsurance pricing experience a plus
- Rate filing experience a plus.
- Strong knowledge of MS Office tools (Excel, Outlook, Word, PowerPoint).
- Strong knowledge of SQL
- Knowledge and ability to use Power BI preferred.
- Knowledge and ability to use R and Python preferred.
The Company is an equal employment opportunity employer.
Additional Company Details: The position is based in Naperville, IL; in-office four days per week. We do not accept any unsolicited resumes from external recruiting firms. The company offers a competitive compensation plan and robust benefits package for full time regular employees which for this role includes: Base salary range: $160,000 - $210,000 annually. The actual salary for this position 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; and other conditions of employment. This role is eligible to participate in the annual discretionary bonus program. Benefits: Health, Dental, Vision, Life, Disability, Wellness, Paid Time Off, 401(k) and Profit-Sharing plans. Sponsorship Details: Sponsorship not Offered for this RoleSalary : $160,000 - $210,000
