What are the responsibilities and job description for the Lead Pricing Actuary position at North Carolina Farm Bureau Mutual Insurance...?
About the Role
We are looking for a pricing actuary to facilitate the indication process across lines of business for North Carolina, with the opportunity for exposure to both auto and property lines in a single state market. You will be responsible for the assembly and improvement of traditional rate indication models, supplementing with predictive modeling approaches where appropriate, and providing filing support in a rapidly evolving marketplace. Collaboration on research projects with multiple departments can also be expected.
Education and Experience
· Bachelor’s degree in Actuarial Science, Statistics, Mathematics, Economics, or other related field.
· At least ACAS strongly preferred. Near-ACAS, particularly with exam 5, will be considered.
· Minimum 5 years P&C pricing experience required.
· Exposure to transactional level data querying and implementation of multiplicative rating plans (GLMs) strongly preferred.
· Prior managerial experience considered a bonus, though not an immediate requirement.
Required Skills and Abilities
· Strong understanding of standard actuarial techniques and assumptions.
· Broad understanding of insurance operations and their relationship with pricing implications.
· Advanced computing skills (Excel, SAS) in development of complex pricing models.
· Proficiency in a general programming language (SAS, SQL, Python, R).
· Excellent communication skills in breaking down complex ratemaking themes.
· Collaborative mindset in engaging with multiple personnel across broad insurance operations.
Location & Commitments
· Full-time position in our home office in Raleigh.
· Hybrid schedule available (3 days in office).
Essential Responsibilities of the Role
· Enhance pricing models to modernize assumptions in developing recommendations to management.
· Utilize expertise in aggregating actuarial data to create/execute data driven processes underlying various components of product management.
· Communicate decisions and implications of recommendations to affected stakeholders.
· Monitor implemented product changes for expected outcomes.
· Advise on data requirements to complete development of actuarial models.
· Contribute to development of junior personnel in expanding actuarial functions related to the above.
This document is intended to outline the essential responsibilities of the position, and does not limit the tasks that may be assigned or amended by the supervisor.
NOTE: Only shortlisted candidates will be contacted.
Job Type: Full-time
Pay: $100,000.00 - $144,000.00 per year
Benefits:
- Dental insurance
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Professional development assistance
- Retirement plan
- Vision insurance
Education:
- Bachelor's (Required)
Experience:
- P&C pricing: 5 years (Required)
Ability to Commute:
- Raleigh, NC 27612 (Required)
Work Location: Hybrid remote in Raleigh, NC 27612
Salary : $100,000 - $144,000