Actuarial Analyst

Berkley Agribusiness (a Berkley Company); Urbandale (IA); Hybrid; USD 85,000 - 110,000; Full time

Benefits offered by this job

Competitive compensation package

Paid time off

Medical, dental and wellness benefits

Employer-funded health savings account

Profit sharing and 401k

Job summary

Berkley Agribusiness (a Berkley Company) in Urbandale, IA is seeking an Actuarial Analyst to contribute to rate reviews, modeling, reserves, and pricing analyses for large accounts. The role emphasizes independent work and collaboration across teams.

You will utilize R, SQL, Essbase, Databricks, and Excel to prepare data, test assumptions, and support underwriting decisions. A Bachelor's degree and 2+ years actuarial experience with Power BI are preferred, with a hybrid schedule (4 days

Qualifications

• Bachelor's degree in a related field or equivalent
• 2+ years actuarial experience in insurance preferred
• Experience with data visualization tools, especially Power BI
• Continuing education through actuarial exams or professional designations
• Strong analytical and communication skills
• Ability to organize, prioritize, and manage multiple tasks in a fast-paced environment
• Proficiency with Excel and a basic understanding of SQL or other data management tools

Responsibilities

• Complete rate reviews and actuarial indications including forecasting investment returns and expense provisions
• Prepare data and perform analyses using R, SQL, Essbase, Databricks and other sources
• Support pricing decisions for large accounts and small commercial portfolios
• Identify profitable growth opportunities and propose corrective actions
• Participate in enterprise risk management and forecasting studies
• Collaborate with underwriting and cross-functional teams to implement pricing changes

Skills

Analytical thinking

Communication skills

Problem solving

Organizational skills

Education

Bachelor's degree in a related field

Tools

Excel

Power BI

SQL

Office Suite

Job description

Company Details

Berkley Agribusiness works with ambitious agribusiness clients to help them own their futures. Our culture is built on the belief that everyone has the power to create the future they deserve. Every Berkley Agribusiness team member must have the courage to challenge the status quo, collaboratively working with our clients to find creative property and casualty insurance solutions that drive them to succeed. We depend on our ability to listen to our clients — and our experience to help them make fact-based decisions that help their businesses thrive.

Berkley Agribusiness is part of the W. R. Berkley Corporation (WRBC). Founded in 1967, WRBC is one of the nation’s premier commercial lines property casualty insurance providers. WRBC’s international business operates in selected regions throughout the world, including Europe, South America, Australia, and Asia.

This position is based in our Urbandale, IA office which offers a hybrid work schedule with 4 days in the office; and 1 day remote where it makes sense to do so.

The Company is an equal employment opportunity employer.,

Responsibilities

As an Actuarial Analyst for Berkley Agribusiness, you will be involved with completing rate reviews, actuarial indications, predictive modeling, completing regular estimates of adequate loss and expense reserves, participating in company’s planning processes, and providing tools and analysis in support of pricing large accounts. These activities are to be completed with more independence, proactively, and demonstrate a working knowledge of the core principles and standard actuarial techniques.

What You Can Expect

• Culture of innovation, teamwork, supportive colleagues and leaders willing to invest in talent.
• Internal mobility opportunities - be a key part of the succession plan.
• Visibility to senior leaders and partnership with cross functional teams.
• Opportunity to impact change.
• Benefits – competitive compensation, paid time off, comprehensive wellness benefits and programs, employer funded health savings account, profit sharing, 401k, paid parental leave, employee stock purchase plan, tuition assistance and professional continuing education.
• For the Actuarial Organization, we also offer an actuarial study program.

We'll Count On You To

• Proactively seek out situations where the acquisition of Competitive Market Analytics and other competitive position reviews would have a material impact on business decisions and their outcomes.
• Adapt and develop rating methodologies for both existing and new company products paying particular attention to opportunities to developing a competitive advantage through consideration and use of new variables, etc.
• Identify, retrieve, and prepare data in support of actuarial analysis through R, SQL, Essbase, Databricks, and other data sources. This includes internal data (exposure, premium, loss, claims, price, etc.) and various forms of external data (bureau loss costs, bureau trends, macroeconomic data, market share, market pricing, etc.).
• Ensure the accuracy and suitability of data for the business need at hand. Manipulates data, performs preliminary analysis and interprets data through Excel or other analytics platforms and presents recommendations.
• Complete Rate Reviews, Ratemaking, and Actuarial Indications including support of forecasting investment rates of return, underwriting expense provisions, frequency/severity and exposure trends. Gain management support for recommended changes.
• Complete regular estimates of adequate loss and expense reserves, including any financial information pertaining to reserves needed by the Financial Department, company management, or corporate including but not limited to Schedule P.
• Identify segments with profitable growth potential; identify underperforming segments and propose corrective actions to improve profitability.
• Perform advanced analytics and modeling techniques including but not limited to generalized linear modeling and other forms of multivariate analysis.
• Participate in enterprise risk management initiatives, including support for catastrophe management, economic capital modeling, internal rate of return studies, etc.
• Provide tools and analysis in support of Underwriting’s pricing decisions with respect to large accounts as well as small commercial portfolio price adequacy analyses.
• Perform other related duties as assigned by management.

Qualifications

• Bachelor's degree from four-year college or university; or equivalent combination of education and experience.
• 2+ years of actuarial experience specifically within an insurance organization preferred.
• Experience with data visualization tools, with a strong preference for Power BI.
• Commitment to continuing education demonstrated by progression through the Casualty Actuarial Society exam program or other insurance professional designations, including more traditional forms of continuing education related to university work or other technical designations.
• Ability to examine and break information into parts by identifying motives or causes. Make inferences and find evidence to support generalizations.
• Ability to organize, prioritize and manage multiple tasks in a fast-paced environment; respond promptly and professionally to inquiries from customers; and communicate effectively with all levels of the organization.
• Should possess strong customer orientation and problem analysis and problem resolution skills. Regularly and consistently demonstrates commitment to company values and guiding principles.
• Proficient in and have knowledge of Microsoft Office Suite as well as demonstrated ability to learn other software as needed. In particular, a more extensive working knowledge of Excel and a basic understanding of PowerBI, SQL or other data management software packages is expected.

Additional Company Details

We do not accept any unsolicited resumes from external recruiting agencies or firms.

The company offers a competitive compensation plan and robust benefits package for full time regular employees.

The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment.

Sponsorship Details

Sponsorship not Offered for this Role