Senior Associate Actuary

5 days ago

🦌 Connecticut – Remote

Although this job is listed in Connecticut, this company may be open to hiring remote in other states.

🦞 Maine – Remote

Although this job is listed in Maine, this company may be open to hiring remote in other states.

+8 more states

🦌 Connecticut – Remote 🦞 Maine – Remote 🗻 New Hampshire – Remote 🏖️ New Jersey – Remote 🗽 New York – Remote 🦀 Maryland – Remote 🍂 Massachusetts – Remote 🔔 Pennsylvania – Remote ⚓ Rhode Island – Remote 🍁 Vermont – Remote

💵 $104k - $155k / year

⏰ Full Time

🟠 Senior

📊 Actuary

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Preferred Mutual Insurance Company

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Preferred Mutual Insurance Company is a provider of insurance solutions that offers personal and business coverage options. Their services include protection for personal property and vehicles, as well as customizable commercial insurance packages designed to address the specific needs of businesses. The company prioritizes customer accessibility through digital tools like the MYPreferred mobile app, allowing policyholders to manage their accounts, file claims, and access important information conveniently and efficiently.

Property & Casualty Insurance • Auto Insurance • Commercial Insurance • Business Owners Program Insurance • Homeowner Insurance

201 - 500 employees

Founded 1896

💸 Finance

⚕️ Healthcare Insurance

📋 Description

• The Senior Associate Actuary will provide actuarial sophistication to ensure the adequacy of our capital continually improves while increasing the likelihood of achieving expected levels of performance for assigned segments of Preferred Mutual business. • Success in this position will be characterized by continual improvement in the Risk-adjusted Return on Equity, in risk-adjusted capital adequacy, revenue growth, and achievement of performance goals for the assigned segments of business. • Core Functions: • Have ownership over the financial performance of assigned business segments (Auto & Umbrella): • Support pricing, reserving, and modeling projects. • Assist in evaluating rate adequacy and making recommendations for rate changes. • Coordinate with Product Development and Underwriting to maintain a competitive position of rates • Assist in reinsurance pricing analysis and support treaty negotiations. • Conduct deep-dive analyses into emerging market trends, competitor pricing strategies, and industry developments. • Review actuarial methodologies and implement newer techniques • Ensure compliance with regulatory requirements and actuarial standards. • Manage the technical efforts of a team of actuarial analysts/trainees (project management) • Data Analytics/Reporting • Work with Underwriting and Analytics to implement changes to improve performance • Help the Management and business teams understand the results through effective analysis and communication • Become an expert in the use of company data sources • Partner with the Data & Analytics team to: • Ensure effective actuarial reports and dashboards • Identify and adjust rating algorithms to grow the book of business. • Monitor emerging trends in both claims and premiums • Develop models & rating algorithms in partnership with Underwriting & Sales • Monitor performance of Pricing/Underwriting Models and change as necessary

🎯 Requirements

• Bachelors degree in Actuarial Science, Mathematics, or a related area. • 7-15 years of actuarial experience in comparative areas • Successful completion of 6 full actuarial exams • Strong knowledge of property and casualty insurance products • Sophisticated computer skills including Access, Excel, SQL, and SAS • Reserving experience not required but would be a plus • Experience working with Pricing Models, but not necessarily modeling experience

🏖️ Benefits

• Short-term disability, long-term disability, and life insurance coverage are provided at no cost • Optional benefits include enhanced life insurance and critical illness plans • 401k plan with an employer contribution that you will receive regardless of your own contribution to the plan • Pension Plan • Generous paid time off, offering of 25 days at hire (prorated based on start date for the first year) • 7 days of paid sick leave • 10 paid company holidays • Personalized paid time off after 3 years! • Access to Modern Health, a provider of accessible, personalized mental health care • Medical, dental, and vision coverage options begin on the first day of employment • Health Savings Accounts (with employer contribution) are available based on the medical plan you choose