Actuarial Specialist Jobs

Job Title: Actuarial Specialist
Employee Status: Regular
Schedule: Full-time
Location: Hyrbid to Westfield Center, OH OR remote

About Us:
You’re ready to make your mark where people care about each other. Where your work is meaningful. And where your unique perspectives are welcome. Think about joining Westfield, a company focused on what’s most important – the people behind our policies.

Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Today, as one of the nation’s leading property and casualty (P&C) companies, we remain true to their vision and are dedicated to making a positive difference in our customers’ lives.

Responsibilities :

• Develops actuarial predictive models in support of pricing, underwriting, marketing, and claims functions.
• Coordinates with Pricing to develop profit targets and with Financial Reporting to facilitate the annual corporate planning process.
• Increases overall actuarial and business acumen of the department by researching, sharing ideas, and offering new solutions.
• Maintains and increases knowledge of industry and actuarial trends, market conditions, and competitor information. Utilizes and shares that information in the actuarial department and across the business for purposes of making informed decisions.
• Collaborates and strategizes with Underwriting and Product in managing business.
• Pricing:
  • Develops and advises on design, pricing, and implementation of insurance products.
  • Collaborates and strategizes with Underwriting and Product in managing business.
  • Compiles, analyzes, and develops rate level indications, proposals, experience reports and other actuarial studies. Uses information in influencing the business to agree to rate and product changes.
• Researches and implements innovations and/or improvements to existing analytic processes. Socializes new processes and ideas throughout the department to gain consensus and ensure applicability
• May perform talent management responsibilities (supervising 1-2 employees, as assigned) including employee selection, performance management, coaching, and development. Manages priorities and workload distribution and removes barriers that impede progress. Completes all personnel, salary administration, and reporting duties.
• Works with internal business partners (Claims, Financial Reporting, Investments, Risk Management, Finance Committee, Auditors and Appointed Actuary) in support of the company’s operations, objectives, and goals.
• Identifies work that needs to be completed, including research, process improvement, and additional analyses.
• Compiles, analyzes, and develops rate level indications, proposals, experience reports and other actuarial studies. Uses information in influencing the business to agree to rate and product changes.
• Collaborates effectively with internal business partners as needed to support competitive business strategies. Applies understanding of actuarial and business landscape to collaborate with peers and other departments to make decisions that are in the best interest of the company.
• Research and Development:
  • Develops actuarial predictive models in support of pricing, underwriting, marketing, and claims functions.
  • Collaborates with other functional areas to implement and integrate models into various processes.
  • Works directly with external consultants in support of R&D projects.
• Analyzes risk capital position and capital segment returns, while increasing the efficiency and transparency of the risk capital process.
• Analyzes loss reserve position quarterly and enhances the quality and efficiency of the reserving process.
• Loss Reserving/Risk Capital/Planning:
  • Analyzes loss reserve position quarterly and enhances the quality and efficiency of the reserving process.
  • Analyzes risk capital position and capital segment returns, while increasing the efficiency and transparency of the risk capital process.
  • Coordinates with Pricing to develop profit targets and with Financial Reporting to facilitate the annual corporate planning process.
  • Works with internal business partners (Claims, Financial Reporting, Investments, Risk Management, Finance Committee, Auditors and Appointed Actuary) in support of the company’s operations, objectives, and goals.
• Develops and advises on design, pricing, and implementation of insurance products.
• Works directly with external consultants in support of R&D projects.
• Collaborates with other functional areas to implement and integrate models into various processes.
• Applies technical actuarial skills and knowledge along with a comprehensive understanding of the Company’s insurance products and operations to assist with complex actuarial projects. Projects will vary in scope, but tend to be complex in nature.
• Contributes to thought leadership in the department.
  • Identifies work that needs to be completed, including research, process improvement, and additional analyses.
  • Researches and implements innovations and/or improvements to existing analytic processes. Socializes new processes and ideas throughout the department to gain consensus and ensure applicability
• Provides technical guidance and support to other members of the department including mentoring Actuarial Analysts.
• Responsible for completing assignments, projects, and research in assigned area of expertise
  • Pricing:
    • Develops and advises on design, pricing, and implementation of insurance products.
    • Collaborates and strategizes with Underwriting and Product in managing business.
    • Compiles, analyzes, and develops rate level indications, proposals, experience reports and other actuarial studies. Uses information in influencing the business to agree to rate and product changes.
  • Loss Reserving/Risk Capital/Planning:
    • Analyzes loss reserve position quarterly and enhances the quality and efficiency of the reserving process.
    • Analyzes risk capital position and capital segment returns, while increasing the efficiency and transparency of the risk capital process.
    • Coordinates with Pricing to develop profit targets and with Financial Reporting to facilitate the annual corporate planning process.
    • Works with internal business partners (Claims, Financial Reporting, Investments, Risk Management, Finance Committee, Auditors and Appointed Actuary) in support of the company’s operations, objectives, and goals.
  • Research and Development:
    • Develops actuarial predictive models in support of pricing, underwriting, marketing, and claims functions.
    • Collaborates with other functional areas to implement and integrate models into various processes.
    • Works directly with external consultants in support of R&D projects.
  • Contributes to thought leadership in the department.
    • Identifies work that needs to be completed, including research, process improvement, and additional analyses.
    • Researches and implements innovations and/or improvements to existing analytic processes. Socializes new processes and ideas throughout the department to gain consensus and ensure applicability

Qualifications:

• Strong project management skills with ability to plan tasks, assign resources, manage progress, and motivate team members across multiple projects.
• Experience providing thought leadership to Actuarial team(s).
• Physical essential functions: ability to work 40 hours in an office environment (sitting, standing, on a computer, etc.), operate office related technology (computer, phone, etc.), travel as required.
• Strong skills with programming languages such as SAS, R, SQL, and Visual Basic.
• For Research and Development position: Experience working with statistical modeling software such as SAS STAT, SAS Enterprise Miner, SPSS Modeler, R, and Emblem.
• Experience and advanced proficiency with Excel (e.g. array formulas, complex multi-tab workbooks, pivot tables, visual basic macros).
• 5+ years of P&C actuarial experience.
• An Associate of the Casualty Actuarial Society. Consideration will be given to other candidates depending on exam status, actuarial experience and advanced degrees.
• Excellent written and oral communication skills including the ability to convey advanced concepts to a non-technical audience.
• Advanced knowledge of actuarial techniques with experience exploring and potentially implementing actuarial techniques learned on the actuarial exams.
• 6+ years of insurance and/or business experience.
• Proven ability to collect and analyze complex data, identify trends, establish facts, and recommend policies and procedures that drive effectiveness and efficiencies.

Westfield offers a Total Rewards program that focuses on compensation, benefits and wellness, and includes perks like 401(k), pension plan, annual incentive, education reimbursement, flex-time, onsite fitness center or gym reimbursement and casual dress. Work/life balance, recognition, and learning and career development are all part of a rewarding career with Westfield.

Learn more about current opportunities at www.westfieldinsurance.com/careers.

We are an equal opportunity employer/minority/female/disability/protected veteran.

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