What are the responsibilities and job description for the AVP, Actuarial position at Berkley?
Company Details
From middle market to Fortune 500 companies, our Excess Casualty team is committed to providing excellent service and a consistent approach to meet the needs of our brokers and their customers.
https://www.berkleycustom.com/home/
We seek to outperform our competitors with a focus on understanding client’s priorities and developing creative risk solutions to meet their long-term needs. Our key differentiators include the following:
EXCLUSIVE WHOLESALE MARKET – We are committed to the wholesale brokerage community and continually build upon long established relationships with a passion for superior service for our appointed producers.
OUR PROFESSIONALS – We attract and retain professionals with significant excess insurance experience, many over 25 years, with a culture that promotes integrity, excellence and respect.
LONG-TERM APPROACH TO ACCOUNTS – We continually seek partners for the long term who share our values and our risk management discipline.
Long-term relationships have been our management’s trademark in over 30 years of serving customers in the Excess & Surplus marketplace. Our team is dedicated to serving the varied casualty exposure needs of our brokers and their customers. By truly understanding your risk exposures in a constantly changing global environment, we can better work with you to keep risk placement recommendations current and responsive.
The company is an equal employment opportunity employer.
Responsibilities
The AVP, Actuary will validate external pricing methodology of our external program administrators as it relates to overall rate adequacy. Maintain internal pricing models including periodic updating of parameters. Evaluate new business opportunities as they arise, assist in reinsurance placements and other actuarial support. Monitor historical profitability underwriting year performance as well as prospective portfolio performance.
- Conduct comprehensive actuarial analysis to develop and refine pricing models for various insurance products
- Collaborate with cross-functional teams to provide insights that guide product development and profitability initiatives
- Collaborate closely with underwriting, claims and finance teams to align pricing strategies with business goals
- Evaluate and refine pricing metrics used to measure rate adequacy and price monitoring
- Work with our Claims Department and Third-Party Administrators to help identify claim trends, reserving anomalies, or other industry trends
- Prepare data for reinsurance submissions. Perform experience analysis
- Participate in on-going large loss discussions with claims department and monitor actual vs. expected loss emergence
- Communicate results and findings to various key departments
- Communicate with outside auditors, consultants and actuaries
- Collaborate effectively with the actuarial data and analytics team to enhance processes and maintain a high standard of data integrity
- Be comfortable working with remote colleagues, particularly changing communication style as needed.
- Continued progress with Actuarial qualifications.
- The ability to be in the Stamford, CT office 4 days a week.
Qualifications
- Bachelor’s Degree or equivalent training in computer science, actuarial science, mathematics, statistics or related field
- 5 years of experience in the P&C insurance industry
- Experience in Excess Casualty and/or Reinsurance preferred
- 5 Actuarial exams passed or ACAS designation, strong track record of passing exams
- Intermediate to advanced Microsoft Office, specifically Excel. Advanced SQL skills, and other databases, statistical analysis programing (VBA, R, Python) skills plus
- Excellent problem-solving skills
Additional Company Details
We do not accept unsolicited resumes from third party recruiting agencies or firms. 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.Sponsorship Details
Sponsorship not Offered for this Role