Actuary III/Sr
Job Summary Hybrid schedule onsite in Webster, MA, Boston, MA or within a commutable distance on occasion. Can also be remote, Eastern or Central time preferred. The Actuary III develops actuarial analyses in accordance with CAS (Casualty Actuarial Society) principles. These analyses will directly contribute to the overall performance of the actuarial area, and positively impact other departments across the organization and the results of the company. The analyses typically rely upon complex processes, with the potential to change in connection with the organizations needs. The Actuary III acts as the SME (subject matter expert) for the actuarial analyses, detailing inputs, and conclusions to others in the organization. This position supports our Century Automotive Services business. Feel free to view for additional information. Reinsurance Specialists - Century Automotive Service Responsibilities Develop a standardized rate order of calculations for products across brokers Regularly evaluate pricing adequacy of the book at various segmentation levels Identify key areas for performance improvement Collaborate with product for a comprehensive understanding of the products Occasional assistance with filings when necessary Knowledge and Experience 5+ years of experience or equivalent related knowledge 5+ CAS exams passed. If less than 5 years experience, exam 5 is a must Thorough knowledge of insurance operations and regulation Experience carrying out complicated quantitative analyses Demonstrated capability to modify and/or innovate new processes Actuarial, analytical, and coding expertise ? Developing and implementing methodology or process improvements ? Completing complex analyses independently ? Effectively progressing on multiple long-term projects simultaneously Proposing actions based on the results of an analysis 3+ years of experience in supporting at least 1 of the following areas of the business: PL / CL Product / Underwriting Market Pricing Claims Actuarial - Reserving Education: Bachelor's Degree or professional level of knowledge in a specialized field, or equivalent related experience
Responsibilities
Develops and performs pricing and/or reserving analysis for selected property and casualty insurance products offered by MAPFRE Insurance. Such analyses may include: Analyses and recommendations relative to the pricing of new or revised coverages, and relative to potential structural changes in product pricing (class plans, amount of insurance relativity curves, etc.) Expert-level understanding and analysis of the components of actuarially sound rates and/or reserving methodologies, applied to a variety of contexts Preparing the impacts of rate changes and non-rate actions using competitiveness analyses, retention and elasticity models, and business projections Ad hoc analyses on difficult questions and new challenges Mastery over Actuary II skills Collaborates with senior management to ensure the analyses are interpreted correctly and appropriate action is taken. Stays up to date on industry trends and methods Proposes new actuarial analyses that would add value to the organization. Makes decisions related to a wide variety of situations. Interprets guidelines and procedures, applying judgment and discretion. Provides training and guidance to less experienced staff, as well as leads them in team projects. Retrieves and manipulates complex data Pursues exams on the CAS syllabus. The advanced knowledge is in a field of science or learning customarily acquired by a prolonged course of specialized intellectual instruction. If you require an accommodation for a disability so that you may participate in the selection process, you are encouraged to contact the MAPFRE Insurance Talent Acquisition team at [email protected]. We are proud to be an equal opportunity employer. Apply Job!