Actuarial Analyst

Ohio Farmers Insurance Company; Chicago (IL); On-site; USD 80,000 - 110,000; Full time

Benefits offered by this job

Actuarial Study Program to support exam completion

Job summary

A leading insurance firm in Chicago is seeking an Actuarial Analyst to provide pricing support across various specialty lines while developing actuarial skills. The role emphasizes interaction with underwriting leaders, conducting profitability analyses, and contributing to pricing models. Candidates should hold a Bachelor’s in a technical field and have at least 2 exams towards actuarial qualification. Proficiency in Excel and familiarity with SQL, R, or Python are essential. This position supports independent learning and career advancement in actuarial sciences.

Qualifications

• At least 2 Exams toward qualification by the Casualty Actuarial Society or equivalent.
• Internship experience in an insurance context; understanding of actuarial concepts.
• Experience with statistical modeling and predictive analytics.
• Advanced skills in Microsoft Excel and familiarity with coding in SQL, VBA, or R/Python
• Experience with statistical modeling and predictive analytics
• Ability to work with large datasets and ensure data integrity
• Strong written and verbal communication skills and an ability to explain technical concepts to a wide audience
• Ability to prioritize competing demands and requests to complete work within required time constraints
• Self-starter that is energized by independent learning and research

Responsibilities

• Conduct profitability and segmentation analyses for growth opportunities.
• Prepare reports on pricing and portfolio performance.
• Collaborate with underwriting teams for pricing evaluations.
• Support regular improvements to technical pricing models including enhancements for unique structures and implementing more comprehensive data capture
• Collaborate with underwriting teams to perform pricing / profitability evaluations for individual accounts as needed.
• Partner with other functions to improve data quality and integration into pricing tools and analytical frameworks.
• Contribute to actuarial studies and research projects aimed at improving pricing sophistication, drawing on predictive modeling techniques.
• Assist in actuarial due diligence for new product launches and program opportunities, including development of pricing structures and regulatory support.
• Improve efficiency of data extraction and manipulation processes for routine projects.
• Communicate analytical insights to underwriting and business partners to inform decision-making and strategy.

Skills

Detail-oriented

Analytical thinking

Strong communication skills

Data integrity assurance

Communication

Education

Bachelor's degree in Actuarial Science, Statistics, or similar field

2 CAS exams toward credentialing

Tools

Microsoft Excel

SQL

VBA

R

Python

Job description

We are seeking an Actuarial Analyst to provide actuarial pricing support for Westfield's US Specialty lines of business. In this role, you will experience wide-ranging opportunities to develop your actuarial skillset on complex classes including Excess Casualty, Specialty Property, Financial Lines, and Professional Lines. Alongside a talented group of Pricing Actuaries, you will interact directly with our underwriting leaders to implement market-leading pricing and analytical capabilities which will directly influence strategic business decisions.

We are looking for innately curious, detail-oriented, innovative, and highly motivated individuals to join the Actuarial team in our New York or Chicago office.

Job Responsibilities

• Assist in conducting profitability and segmentation analyses to identify profitable growth opportunities and areas requiring remediation.
• Prepare monthly and quarterly reports on pricing and portfolio performance, monitoring key actuarial metrics including risk-adjusted rate change, actual vs. technical price, and mix of business.
• Assist in building and analyzing exposure profiles to assess portfolio composition and concentrations of risk.
• Support regular improvements to technical pricing models including enhancements for unique structures and implementing more comprehensive data capture
• Collaborate with underwriting teams to perform pricing / profitability evaluations for individual accounts as needed.
• Partner with other functions to improve data quality and integration into pricing tools and analytical frameworks.
• Contribute to actuarial studies and research projects aimed at improving pricing sophistication, drawing on predictive modeling techniques.
• Assist in actuarial due diligence for new product launches and program opportunities, including development of pricing structures and regulatory support.
• Improve efficiency of data extraction and manipulation processes for routine projects.
• Communicate analytical insights to underwriting and business partners to inform decision-making and strategy.

Job Qualifications

• Bachelor's degree within Actuarial Science, Statistics, or similar technical field
• At least 2 Exams toward qualification by the Casualty Actuarial Society or equivalent professional body
• Actuarial or related internship experience at an insurance carrier, broker, or consultancy; understanding of actuarial concepts such as loss development and exposure rating
• Advanced skills in Microsoft Excel and familiarity with coding in SQL, VBA, or R/Python
• Experience with statistical modeling and predictive analytics
• Ability to work with large datasets and ensure data integrity
• Strong written and verbal communication skills and an ability to explain technical concepts to a wide audience
• Ability to prioritize competing demands and requests to complete work within required time constraints
• Self-starter that is energized by independent learning and research

Westfield offers a competitive Actuarial Study Program to support and reward you as you complete the Casualty Actuarial Society Exams.

We are an equal opportunity employer/minority/female/disability/protected veteran.

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.