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SalaryWith a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.
Arch Insurance Group, Inc., seeks Actuarial Analyst, in Jersey City, NJ
Job Duties:
Design new and powerful tools to improve the capabilities of the actuarial team. Includes facilitating and implementing feedback from interested parties. Perform actuarial due diligence for new business opportunities to quantify profitability and help business leaders make strategic decisions and serve as a primary contact for Underwriting to address Ad Hoc requests. Directly manage a Summer Intern – provide training, supervision, performance review. Present results of studies and analyses to business leaders, utilizing their feedback in order to provide actionable insights. Lead 1-2 major projects for the actuarial department, such as coordinating a trend study or implementing a new methodology. Mentor new employees to teach them actuarial basics and the best ways to succeed at Arch. Maintain a database of monthly rate changes through the Monthly Price Monitor Process. Complete profitability analyses and benchmark reviews for the Executive Assurance Business Unit. Conduct in-depth Actuarial studies such as Segmentation, Trend Factor, Loss Development Factors Study for Executive Assurance to help the business achieve their goals.
Qualifications:
Bachelor’s degree or foreign equivalent in Actuarial Science, Mathematics, Computer Science, or related field, plus 1 year of experience in the job offered, as Actuarial Assistant or related position within the P&C Insurance domain.
Must have 1 year of experience:
- Using Microsoft Excel for calculations, actuarial analysis, and reporting;
- Working with large amounts of data;
- VBA and SQL;
- P&C pricing;
- Professional Liability pricing D&O Insurance.
Must have experience with:
- Python;
- Basic insurance and actuarial ratemaking concepts as well as their downstream impact, which must include Understanding Profitability Reviews, LDF and Trend Studies, ROC Calculations, Contingent Commission Calculations, Class-Based Ratemaking, Profit-Sharing Calculations, Rate Filings, and Reinsurance Studies.
Must have completed at least 4 actuarial exams - or near ACAS designation.
Hybrid model position working 2 days in office and 3 days remote within commuting distance of the office. National travel required 10% of the time to attend trainings, conferences, industry events, onsite team/department meetings at other office locations.
For individuals assigned or hired to work in California, Colorado, Jersey City, NJ; New York State; and/or Washington State, the base salary range is listed below. This range is as of the time of posting. Position is incentive eligible.
Salary $152,610 to $153,000 per year
- Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above range may be modified in the future
- Clickhereto learn more on available benefits
Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our
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