Actuarial Analyst

Arch Capital; Jersey City (NJ); Hybrid; USD 133,000 - 135,000; Full time

Benefits offered by this job

Medical plans

Dental/Vision coverage

401k with matching

PTO 20 days/year

Holidays 12/year

Volunteer Time Off

Job summary

Arch Insurance Group, Inc. seeks an Actuarial Analyst in Jersey City, NJ. The role includes profitability reviews, deal pricing, benchmarking, and tool development, with a hybrid work model (3 days in office, 2 days remote) and national travel.

Requirements include 1 year programming with Python and SQL, plus 5 actuarial exams (2 CAS); salary range $133,474–$135,000 per year. Competitive benefits provided.

Qualifications

• 1 year of programming experience with Python and SQL.
• 1 year of experience with tools to structure, access, and manage data sets including PowerBI, Excel, VBA, PowerPoint and SQL.
• Experience with basic insurance and actuarial ratemaking concepts and their downstream impact (Profitability Reviews, LDF and Trend Studies, Contingent Commission Calculations, Rate Filings).
• Passed at least 5 actuarial exams including 2 CAS exams.

Responsibilities

• Ownership of profitability reviews and segmentation studies; present results to underwriting.
• Pricing for large accounts or new portfolio submissions with underwriters.
• Actuarial benchmarking using industry metrics and consultant data.
• Monitor and report on rate change, price adequacy, and underwriting mix changes.
• Develop pricing tools and dashboards; build actuarial data products.
• Lead development of new products and filing strategies; mentor new actuaries.

Skills

Python

SQL

PowerBI

Excel

VBA

PowerPoint

Data management

Tools

PowerBI

Excel

VBA

PowerPoint

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

Arch Insurance Group, Inc., seeks Actuarial Analyst, in Jersey City, NJ

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:

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

$133,474 to $135,000 per year (Jersey City, NJ)

• 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