Actuarial Analyst II (Commercial Lines)

Encova Insurance; Columbus (OH); Hybrid; USD 77,000 - 124,000; Full time

Benefits offered by this job

Health Insurance

Life & income protection

Bonus program eligibility

401(k) match

Paid time off & holidays

Flexible work arrangements

Job summary

Encova Insurance is seeking an Actuarial Analyst I with commercial insurance experience and a comfort with AI and automation to support reserving and related analyses. The role emphasizes using modern tools, research of state filings, and collaboration with accounting, audit, and claims teams.

The position offers a hybrid schedule at Columbus, OH or Charleston, WV, with multiple seniority levels available depending on qualifications.

Qualifications

• Bachelor's degree in mathematics, statistics, actuarial science, data science, or a related field.
• A minimum of three years of actuarial experience is preferred.
• Commitment to pursuing actuarial credentials from the Casualty Actuarial Society is preferred.

Responsibilities

• Conduct reserve reviews using traditional property-casualty unpaid claim estimation techniques and methodologies.
• Extract, merge, transform, validate and maintain transactional datasets from various sources.
• Provide clear documentation as part of the governance processes.
• Prepare reserve summaries that reflect the results and projections from reserve reviews incorporating internal and external factors such as settlement processing, case reserving strengthening, underwriting performance, and economic, social, and legal climate.
• Furnish data elements for the annual statement and/or actuarial report.

Skills

Excel proficiency

Analytical thinking

Communication skills

Education

Bachelor's degree in mathematics / statistics / actuarial science / data science or related field

Tools

SAS

SQL

Business Objects

Job description

The salary range for this job posting is $77,450.00 - $123,921.00 annually + bonus + benefits. Pay Type: Salary

The above represents the full salary range for this job requisition. Ultimately, in determining your pay and job title, we'll consider your location, education, experience, and other job-related factors, and will fall within the stated range. Your recruiter can share more information about the specific salary range during the hiring process.

We are looking for an actuarial analyst with commercial insurance experience who is comfortable using AI and automation as part of their daily work. The ideal candidate understands commercial lines products, pricing, and regulatory requirements, and can quickly research and synthesize state filings, circulars, and market changes. They are curious, technology-minded, and able to combine actuarial judgment with modern tools to solve business problems efficiently.

This role will have the option to work a hybrid schedule at our Columbus, Ohio or Charleston, WV location. We can hire at multiple seniority levels depending on candidate qualifications. Compensation range shown is exclusive to the Actuarial Analyst I job profile. If you are better qualified at another level, this will be discussed during the process.

Encova is only able to employ associates who reside and work within specific U.S. states. Our current policies are based on the laws in states in which we are registered for payroll. Our current footprint includes:

Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Wisconsin.

JOB OBJECTIVE:

The Corporate Actuarial Analyst II will be responsible for estimating unpaid property and casualty insurance liabilities, focusing on reserving methodology and process enhancements. This role requires a process-driven mentality and a strong sense of ownership. The analyst will foster continuous improvement of reserving methodologies and processes; collaborating with accounting, audit and claims operations to support monthly financial activities and ensure reserve adequacy. The ideal candidate will possess an inquisitive mindset constantly seeking to understand the underlying reasons behind processes and decisions. The associate will be expected to perform most duties independently, with minimal guidance from their manager.

ESSENTIAL FUNCTIONS:

• Conduct reserve reviews using traditional property-casualty unpaid claim estimation techniques and methodologies and implement the results effectively.
• Extract, merge, transform, validate and maintain transactional datasets from various sources.
• Provide clear documentation as part of the governance processes.
• Prepare reserve summaries that reflect the results and projections from reserve reviews incorporating internal and external factors such as settlement processing, case reserving strengthening, underwriting performance, and economic, social, and legal climate.

OTHER FUNCTIONS:

• Redesign routine data processes and reserve review templates as needed.
• Furnish data elements for the annual statement and/or actuarial report.
• Perform various reserving analyses, including average reserves and EBUB, and to support external consulting and audit partners.
• Keep business partners well informed, with a focus on customers and stakeholders.
• Communicate effectively with colleagues in a patient, approachable, and active listening manner.
• Learn from both successes and challenges, adapting to new tasks and responsibilities.
• Perform other duties as assigned.
• Candidates with interest in mentoring others are encouraged to apply.

KNOWLEDGE, SKILLS AND ABILITIES:

• Bachelor's degree in mathematics, statistics, actuarial science, data science, or a related field. Other majors may be considered if they demonstrate a strong mathematical and/or programming background.
• A minimum of three years of actuarial experience is preferred or equivalent expertise within the Encova Actuarial competency framework.
• Commitment to pursuing actuarial credentials from the Casualty Actuarial Society is preferred.
• Strong ethical standards and integrity.
• Proficiency in reserving concepts, P&C products/coverages is expected. Experience with Arius software is a plus. The analyst should have a solid actuarial knowledge base, with the ability to effectively solve problems, navigate complex situations, and assess the reasonableness of outcomes with confidence and precision.
• Strong analytical and problem-solving skills are expected, with the ability to analyze complex issues, assess the reasonableness of findings and navigate ambiguity.
• Proficiency with Microsoft Excel is required.
• Programming experience in SAS or SQL is strongly preferred; Business Objects experience is a plus.
• Ability to communicate effectively with various audiences, both verbally and in writing, to collaborate with teammates and stakeholders.
• Strong time management skills with the ability to plan, prioritize and exceed goals independently.
• An independent focus on continuous improvement and the ability to take ownership of tasks and drive progress.

This position has been evaluated in accordance with the Americans with Disabilities Act. Encova Insurance makes every effort to reasonably accommodate disabilities to permit performance of the essential functions and candidates who need such accommodation are encouraged to seek it. This description reflects the nature and level of work performed by associates in this position. It is not an all-inclusive inventory of duties, responsibilities and qualifications required. It provides an accurate overview of the work and skills needed to perform this position. Because job content may change from time to time, Encova Insurance reserves the right to add and/or delete functions from this job as it deems necessary for business reasons.

Ready to join our team?

At Encova Insurance, we firmly believe that our associates drive our company's success by delivering unrivaled service to our customers. With success in mind, we make an ongoing effort to provide an environment that offers challenging, stimulating, and financially rewarding opportunities. Join us to discover a work experience where you can learn and grow to your fullest potential.

What you can expect from us

In addition to a competitive compensation package, we offer a comprehensive benefits package designed to support the well-being and growth of our associates. Available benefits (subject to any policy or plan changes) include, but are not limited to:

• Health, Dental & Vision Insurance
• Company-provided life and income protection plans
• Eligibility to participate in a company incentive bonus program
• 401(k) Retirement Plan - 100% company match up to 7% on annual salary
• Paid Time Off, Paid Holidays, and Floating Holidays
• Flexible Work Arrangements - Hybrid and remote depending on the role

We believe that happy, healthy associates are the foundation of great work. Join us and thrive both professionally and personally.

Encova Insurance is an EOE/E-Verify employer.