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The Core Specialty Actuarial Reserving Team is looking for an Actuarial Associate. This dynamic role will primarily be responsible for supporting first party and professional liability lines of business during an exciting time of growth. The role will primarily focus on evaluating reserve adequacy for the existing portfolio, developing and maintaining appropriate diagnostic tools, and providing actuarial subject matter expertise as needed to senior leadership and other business partners.
Key Accountabilities/Deliverables:
Perform Quarterly Reserve Reviews (and ad-hoc analysis as needed) for assigned product groups to ensure that adequate reserves are recorded and correctly reported at each quarter-end.
Help ensure all regulatory requirements related to loss reserves are met in a timely fashion.
Collaborate with Pricing, Claim, and Underwriting on periodic deep dive reviews on select reserve segments.
Aid in the development and delivery of analysis findings to senior leadership and business partners such that key drivers of results are understood, and appropriate business decision are made based on those findings.
Help ensure that the company’s reserving SOX controls are appropriately applied and documented in a timely matter to ensure quality and accuracy in reserving analyses.
Help develop, monitor, and report out on monthly metrics to identify any trends in claim emergence. Wherever possible, utilize data visualization techniques to help communicate trends and insights more effectively.
Annually, assist in the peer review of key assumptions as well as the loss ratio analysis developed by Pricing for the upcoming Plan.
As needed, assist in the peer review of key assumptions as well as the loss ratio analysis developed by Pricing in support of new opportunities.
Technical Knowledge and Understanding:
Ability to work collaboratively with a variety of individuals in a variety of functions (e.g. Finance, Claim, Underwriting, Actuarial, Operations).
Comfortable making judgements, yet open minded to hearing other opinions.
Strong communication skills.
Ownership of process, project, line of business. Identifies opportunities for improvement.
Meets deadlines, knows appropriate level of urgency needed. Early warnings brought forward.
Recognizes top priorities, assists with guiding priorities for smaller team.
Helps identify root causes of mistakes.
Leverages trusted relationships outside of team, is considered key resource.
Solicits and reacts positively to feedback, provides feedback upon request.
Shares knowledge with broader actuarial group.
Experience:
A bachelor's degree in mathematics, statistics, economics, or a related field with a strong mathematical background is required.
Solid understanding and consistent demonstration of actuarial principles, techniques, and standards.
3 or more years of relevant experience; prior experience in Reserving for Property & Casualty business.
Experience with effectively communicating results of analyses to business partners.
High proficiency in MS Office suit (Excel, Powerpoint, Word, etc.).
Working knowledge of data visualization software (Power BI, Alteryx, etc.) preferred.
Currently pursuing ACAS or FCAS and taking actuarial exams.
Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa for this position.
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At Core Specialty, you will receive a competitive salary and opportunities for professional development and advancement. We offer medical, dental, vision, and life insurances; short and long-term disability; a Company-match of 100% of a 6% contribution 401(k) plan; an Employee Assistance Plan; Health Savings Account, Flexible Spending Account, Health Reimbursement Account, and a wellness program