What are the responsibilities and job description for the Actuarial Analyst position at Western Reserve Group?
The Actuarial Analyst provides complete and accurate information for use by management in determining rate levels and/or adequate loss and loss adjustment expense reserves. The Actuarial Analyst will assist in implementing rate change decisions.
While this position is posted at the entry level, candidates with additional experience and qualifications may be considered for a higher-level position and corresponding salary.
Salary Grade (11) 63,994 - 81,592 - 99,191
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Provides information to be used in determining rates and/or loss and loss adjustment expense reserve levels. This information may be internal to the company, industry data or competitive information.
Assists in the implementation of rate change decisions in conjunction with Actuarial and IT staffs. This includes calculations of overall effects, filing with regulators and ensuring rate manuals and policy processing systems are properly updated.
Performs research on projects intended to improve risk selection, claims settlements, or general financial improvement of the company.
Pursues continuing education by studying for and successfully completing actuarial examinations.
SUPERVISORY RESPONSIBILITIES
This position has no supervisory responsibility.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION AND EXPERIENCE
BS/BA or Equivalent in Actuarial Science, Mathematics or related course of study
Advanced computer skills including spreadsheets and databases
Experience with SQL, R, and SAS preferred
Examinations Parts 1 and 2 of the Casualty Actuarial Society
Excellent Communication Skills
General knowledge of P&C insurance products
LANGUAGE SKILLS
Advanced skills are required to communicate effectively with various audiences including programmers, technicians, insurance department personnel, underwriters, and marketing staff.
MATHEMATICAL SKILLS
Advanced skills are required including formal education in calculus, linear algebra and probability/statistics.
REASONING ABILITY
Advanced ability to understand the interaction of rating variables and use of database software.
CERTIFICATES, LICENSES, REGISTRATIONS
Advancement in the CAS examinations is desirable by not required.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Employees are required to sit at a workstation to perform various PC and/or terminal functions.
WORK ENVIRONMENT
Individuals in this position need to work both independently and with others. Attention to detail is critical. Most projects require adherence to strict timelines. Many projects directly impact the financial results of the company and are very visible to senior management.
COMMENTS
This is an entry-level position for those seeking a career in Actuarial science. Study of the CAS examination syllabus materials is encouraged with company-sponsored assistance.
This employer is required to notify all applicants of their rights pursuant to federal employment laws.
For further information, please review the Know Your Rights notice from the Department of Labor.