What are the responsibilities and job description for the Actuarial Intern (Minneapolis) position at Lockton Companies Social Sourcing?
Lockton Re, the global reinsurance business of Lockton Companies, helps businesses understand, mitigate, and capitalize on risk. With over 300 colleagues in 16 locations globally, the business is continuing to grow, pushing the reinsurance industry forward with smarter solutions that leverage new technologies—delivered by people empowered to do what’s right for clients.
Lockton Re will offer Actuarial internships during this upcoming summer. The interns will be exposed to multiple facets of the reinsurance industry, including actuarial analysis and client relations. The internship program is very "hands-on" and will give candidates a thorough induction to our business and our culture. We are seeking individuals who will demonstrate an eagerness to learn, a willingness to communicate and an adaptability to changing environments. Lockton Re looks for students entering their junior or senior year who are interested in building a career in a fast-paced industry.
Summer Intern Responsibilities:
- Participate in rotational program to learn about the various aspects of the reinsurance broking business
- Immerse yourselves in our Lockton Re culture.
- Assist Actuaries in the production, design, analysis and administration of reinsurance programs on behalf of client partners.
- Assist Actuaries contributing to the development of actuarial tools and processes
- Assist Actuaries in building stochastic underwriting models to analyze reinsurance structures
- Be accountable to Actuaries and Senior Actuaries to provide excellent and timely service to clients.
- Able and willing to learn new things – hardly anyone comes out of college knowing about reinsurance, so we’ll teach you if you are eager to learn
- Interested in building relationships - reinsurance is a relationship-driven industry and interacting with customers, reinsurers and colleagues in social settings is part of the job
- Collaborative and team-oriented - insurance works because people work together; reinsurance broking is no different
- A good communicator, both verbally and in writing - telling a compelling story and conveying your ideas clearly is what reinsurance broking is all about
- Able to think creatively and demonstrate problem-solving skills - new challenges inevitably arise, especially in a new company. Doing the best we can for our customers requires resourcefulness, imagination, and determination
- Trusted with detailed tasks - details matter, so having a process for reviewing your work to find errors and noticing when something doesn’t look right help to build trust with colleagues, customers and reinsurance partners
- Adaptable to changing environments - as a start-up company that is growing fast, we are gaining new employees and customers daily, so things move quickly and are constantly changing
- Experience with programming languages, preferably R or Python a plus
- Stochastic modeling / dynamic financial analysis experience a plus
- Actuarial exam progress towards CAS or SOA credentials a plus
