Reinsurance Actuary

UFG is currently hiring for a Reinsurance Actuary to support corporate goals to grow our assumed reinsurance business operations, participating in the pricing, underwriting, and reserving process for assumed reinsurance and building tools to manage the portfolio.  The assumed reinsurance department supports the UFG strategy to enable the company to improve the portfolio with diversifying business opportunities. We are and will continue to apply advanced modeling techniques to this process as our competitive advantage. 

Responsibilities: 

• Perform reinsurance pricing reviews on inwards reinsurance business to support the UFG growth plan.
• Conduct reinsurance reserving analysis.
• Support the corporate forecasting process to ensure all known information is incorporated into a rigorous projection.
• Build and maintain tools to manage reinsurance contracts bound, including underwriting, actuarial, and financial reporting information.
• Support the economic capital modeling (ECM) process maintained in the risk office. Work with the risk office to ensure that assumed reinsurance is properly modeled for strategic steering and capital management purposes.
• Support UFG’s portfolio steering efforts through analysis of industry exposures and the relationship between UFG and industry results.

Qualifications: 

Education: 

• Bachelor’s degree in mathematics, statistics, or related field required
• Advanced degrees in related fields preferred.
• Associate or Fellow of the Casualty Actuarial Society (ACAS or FCAS) required.

Experience: 

• Minimum of 5 years of prior experience in as many of the following disciplines as possible:
  • Reinsurance pricing
  • Reserving
  • Corporate forecasting
  • Economic capital modeling
  • Statutory and GAAP accounting
  • Advanced computer programming
• Hands-on experience with mature experience and exposure pricing tools at a large reinsurance company or broker is required.

Knowledge, skills & abilities: 

• The ability to translate mathematical models into strategic advice is critical in this role
• Fluency in multiple computer languages
• Strong knowledge of MetaRisk, our capital modeling software
• Ability to keep one eye on the big picture and the other on the minutia

Working Conditions: 

• Located in either our Cedar Rapids or remote