Position Title: Sr. Actuarial Analyst
Reports To: Actuarial Manager
Department: Product Development & Actuarial
Position Summary:
Participate and / or lead rate review and reserving for Personal and Commercial lines insurance products; support special projects from management including cross functional projects from Product management, Data sciences, Underwriting, etc.
Location:
The Actuarial team is based out of our beautiful West Creek Campus in Richmond, VA. Although candidates who can work on a hybrid schedule (2-3 days in office weekly) are preferred, the position could also be offered to well qualified remote candidates.
Position:
Full time (37.50 hours per week) – Salaried exempt position with benefits
Primary Duties
- Develop rates which are profitable, competitive, and consistent with company goals and objectives.
- Develop and maintain actuarial sound pricing models for all property and casualty products.
- Design, develop and maintain property and casualty competitive models.
- Support reserving function by analyzing historical claims data for all property and casualty products.
- Perform loss, loss adjustment expense and salvage/subrogation reserve studies.
- Coordinate research activities to obtain information required for rate changes, product design and management decision making.
- Provide actuarial data, cost analysis and technical assistance in the implementation of all property and casualty products.
- Assist in personal lines predictive modeling.
- Assist in corporate budget forecasting and modeling.
Additional Duties
- Assure that rate manual pages, premium determination rules and computer support are in compliance with the rating rules and procedures on file with the Bureau of Insurance for each line of business.
- All other duties as assigned by the manager and/or VP of Product Management
Minimum Education / Experience Qualifications
- Bachelor’s degree in Mathematics, or Statistics or Actuarial Science.
- Minimum 5 years of experience in the actuarial field supporting rate reviews for Personal and / or Commercial lines insurance products.
- Minimum of 3 exams in Casualty Actuarial Society or equivalent experience
Minimum Skill Qualifications
- Extensive PC skills including databases, spreadsheets, and Windows word processing packages
- Proven analytical ability
- Strong interpersonal skills
- Excellent oral and written communication skills
Preferred Qualifications
- Ability to run SQL queries and extract from server
- Experience supporting rate reviews and / or reserving at top 10 P&C carriers or another Farm Bureau
- Experience supporting new auto or home insurance product development
