Actuarial Analyst

14400 Arch Insurance Group Inc.; Jersey City (NJ); Hybrid; USD 133,000 - 135,000; Full time

Benefits offered by this job

Health benefits

401k with match

PTO and holidays

Travel opportunities

Job summary

McNeil & Co. in Jersey City, NJ is seeking a skilled Actuary to analyze profitability, price large deals, and benchmark industry data. The role blends pricing, product development and tool-building across pricing models, with mentorship for junior actuaries.

A Master’s degree and 2 years in P&C are required, plus Python/SQL and multiple actuarial exams. The position is hybrid—three days in the office and two remote—located in the Jersey City area, with occasional travel for team meetings and

Qualifications

• Master’s degree in Mathematics, Actuarial Science, Statistics or related quantitative field with 2 years of P&C insurance experience focused on Professional Liability and Cyber.
• 1 year of programming experience with Python and SQL, plus 1 year with tools to structure, access and manage data sets (PowerBI, Excel, VBA, PowerPoint, SQL).
• Experience with underwriting concepts like profitability reviews, LDF, trend studies, rate filings and risk management.
• Passed at least 5 actuarial exams, including 2 CAS exams.
• Hybrid role: 3 days in office and 2 days remote within commuting distance; national travel twice yearly.

Responsibilities

• Own profitability reviews and segmentation studies; present results to underwriters and act as SME for pricing.
• Price deals for large accounts and portfolio submissions with underwriters; advise on structure.
• Conduct actuarial benchmarking using industry metrics and consultant data for portfolio judgments.
• Monitor and report on rate changes, price adequacy, and underwriting mix; lead yearly initiative.
• Build tools for pricing and book monitoring (dashboards, analytics, data products).
• Lead development of new products, pricing methods and filing strategies.
• Mentor new actuaries and interns, guiding projects and providing feedback.

Skills

Python

SQL

Actuarial exams

Education

Master’s degree in Mathematics, Actuarial Science, Statistics or related field

Tools

PowerBI

Excel

VBA

PowerPoint

SQL

Job description

With 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.

Job Duties:

• Profitability Reviews & Segmentation Studies: Take direct ownership of analyzing profitability and identify strong and weak segments within the book. Present results and work directly with underwriting to drive strategic operations. Evaluate and monitor underwriting actions and impact. Field any questions asked by underwriters and serve as the subject matter expert and primary point of contact for the product.
• Deal Pricing for large accounts or new portfolio submissions: Partner with underwriters working large deals and advise them on pricing and deal structure.
• Actuarial Industry Benchmarking: Independently research and leverage business partner relationships to find relevant industry metrics to be used as benchmarks in studies, such as consultant reports, competitor filings, and reinsurance market analyses. Use deep actuarial knowledge and reasoning to adapt industry data into something that can be used to benchmark against our current portfolio.
• Monitor and Reporting: Measuring and reporting on key performance metrics like rate change, price adequacy levels, and underwriting mix change. Expected to lead one of these initiatives for the year, making sure that teammates meet all necessary deadlines and that all completed results are reasonable.
• Tool Building: Responsible for driving innovation to improve and create new tools without managerial guidance by designing, programming, and maintaining critical tools used in pricing and book monitoring, like pricing tools, dashboards, analytical tools and actuarial data products.
• Product Development: Lead the development of new products, rating approaches and filing strategies including development of technical price, either built from scratch, or adapted from strategic pricing models.
• Mentor new actuaries: Mentor new team members and interns, answering questions, providing feedback, and overseeing small projects.

Qualifications:

Qualifications: Master’s degree in Mathematics, Actuarial Science, Statistics or related quantitative field plus 2 years of experience in the job offered or related position within the P&C insurance domain specifically focused on Professional Liability and Cyber. Must have: 1 year of programming experience with Python and SQL. 1 year of experience with relevant tools to structure, access, and manage data sets for modeling and managing risks including PowerBI, Microsoft Office tools (Excel, VBA, PowerPoint) and data management tool SQL. Experience with basic insurance and actuarial ratemaking concepts as well as their downstream impact, which must include Profitability Reviews, LDF and Trend Studies, Contingent Commission Calculations, and Rate Filings. Passed at least 5 actuarial exams which must include 2 or more CAS specific exams. Hybrid role model position, working 3 days in office and 2 days remote from within commuting distance of the office location. National travel required twice per year for department/team meetings, business offsites and/or conferences. #LI-DNI

Salary and Compensation:

For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible. $133,474 to $135,000 per year (Jersey City, NJ) 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 pay range may be modified in the future.

Benefits:

• Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more.