Actuarial Analyst

Job Title:

Actuarial Analyst

ADP Job Code:

ACTUANAY

Department:

Risk Management, Insurance & Analytics

Reports to:

VP of Actuary

FLSA Status:

Exempt (Salaried)

Grade:

16

Salary Band:

Professional

Updated:

12/2023

Summary

The Actuarial Analyst will be a member of the Actuarial Department and provide product and pricing analysis for new and existing products. Employee’s main focus will be providing regular updates on product performance including recommendations for improvement. They will also work with others on the Actuarial and Product teams to provide detailed analysis and pricing recommendations. They will report to the Vice President of Actuarial & Risk

• Implement product review process for VSC, GAP, and Ancillary Products
  1. Review VSC and GAP semi-annually and all other products at least annually
  2. Analyze production and loss experience by agent, dealer, plans, classes, terms, and other rating variables to determine key drivers for product performance
  3. Create recommendations for pricing actions for SLT review
  4. Prepare requests with supporting documents for carrier review
• Provide support for new rate implementation including:
  1. Identification of accounts with particularly poor performance
  2. Development of base rates for various programs
  3. Comparison of rates to similar programs
• Assist in other actuarial tasks as needed which may include
  1. Design and pricing for new products and refresh of existing products
  2. Forming liability estimates for existing programs and those in run-off
  3. Calculating buyout offers for agreements with contingent liabilities
  4. Develop tools to assist Risk and Participation areas in dealer or reinsurer-specific pricing
• Other duties as assigned

Education and Experience

• Bachelors of Science degree in Actuarial Science, Mathematics, Statistics, or related field
• 2 or more actuarial exams passed and VEE completed
• 3 or more exams passed, preferred.
• 2 or more years prior work experience in actuarial, risk management, or similar function
• Prior work experience with vehicle service contracts preferred
• Advanced Excel knowledge
• Proficient with MS Office suite
• Knowledge of SQL, PowerBI, or other data analysis tools preferred

Skills

• Experience with databases.
• Intermediate Excel and Access.
• Analytical skills.
• Good organizational skills and time management.
• Attention to detail and accuracy.

Physical Demands

While performing the duties of this job, the employee is regularly required to type and look at a computer screen for long periods of the day. The employee must be able to sit for long periods of time.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodation will be made to enable individuals with disabilities to perform the essential functions.

Note

This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

The employee signature below constitutes the employee’s understanding of the responsibilities and the job qualifications of the position.

Automobile Protection Corporation (APCO) is a Drug-Free Workplace as well as an Equal Opportunity Employer. Qualified applicants shall be considered for all positions without regard to race, color, sex, religion, national origin, age, disability, veteran status, or any other status protected by federal, state or local law.