Actuarial Associate Director

Aon; Chicago (IL); On-site; USD 150,000 - 180,000; Full time

Benefits offered by this job

401(k) plan

Employee stock purchase plan

Paid time off

Health insurance

Job summary

Aon’s Strategy and Technology Group (STG) seeks an experienced actuary to join its consulting team in Chicago, focusing on reserving, pricing, and capital modeling for insurance clients. Primary role involves reserving with a secondary emphasis on pricing and modeling, collaborating across stakeholders.

The ideal candidate has 7+ years in actuarial reserving, ACAS, and strong skills in R/SQL/Python, with leadership experience and a client-facing track record.

Qualifications

• 7+ years of experience in Actuarial Reserving and Reserve Analysis for P&C insurance.
• ACAS or equivalent credential required.
• Experience with NAIC Statements of Actuarial Opinions preferred.
• Experience in actuarial pricing methods, GLMs, machine learning, and regulatory frameworks preferred.
• Proven leadership in client-facing roles delivering pricing and modeling solutions.

Responsibilities

• Lead the preparation, analysis, and presentation of quarterly loss and LAE reserve levels.
• Build and refine pricing models to improve risk segmentation and profitability.
• Ensure pricing approaches align with regulatory requirements and market dynamics.
• Oversee quality assurance and peer reviews for technical accuracy.

Skills

ACAS

R, SQL, Python

Client-facing leadership

Pricing strategies

Machine learning

Education

Bachelor's or Master's degree in Actuarial Science, Statistics, Data Science, Economics

Job description

STG Actuarial Associate Director

Location: Chicago, New York, New York, Minneapolis MN

Aon is in the business of better decisions

At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.

As an organization, we are united through trust as one inclusive team and we are passionate about helping our colleagues and clients succeed.

What the day will look like

Aon's Strategy and Technology Group (STG) is seeking an experienced actuary to join their consulting team and help to accelerate the development of their actuarial advisory business focused on clients in the insurance and reinsurance industries. STG is Aon's new global consulting and technology business focused on, but not limited to, insurance and reinsurance companies and other participants in the insurance industry. Primary role will be reserving with secondary focus on pricing and/or capital modeling.

Key Responsibilities

Reserving

• Lead the preparation, analysis, and presentation of quarterly loss and LAE reserve levels using standard actuarial reserving methodologies, ensuring results are clearly communicated to clients and stakeholders.
• Conduct qualitative and quantitative analyses-including data exploration, forecasting, and modeling-to identify trends, deviations, and key drivers of reserve results, offering proactive insights and recommendations.
• Oversee the allocation of held bulk reserves to granular levels as directed by clients, and provide support to accounting teams for loss-based accruals.
• Perform quality assurance checks and peer reviews on the work of team members, ensuring technical accuracy, integrity, and adherence to internal and external standards.
• Review and evaluate existing procedures and operations, recommending and implementing improvements for greater efficiency and effectiveness both internally and for clients.

Pricing & Predictive Modeling

• Knowledgeable on pricing strategies using predictive analytics, actuarial techniques, and machine learning.
• Build and refine pricing models to improve risk segmentation, profitability, and competitive positioning.
• Ensure pricing approaches align with regulatory requirements and market dynamics.

Skills and experience that will lead to success

• 7+ years of experience in Actuarial Reserving and Reserve Analysis for P&C insurance.
• ACAS or equivalent credential required
• Experience with NAIC Statements of Actuarial Opinions is preferred
• Experience in actuarial pricing methods, GLMs, machine learning, and regulatory frameworks is preferred
• Proven leadership in client-facing roles, with a track record of delivering strategic pricing and modeling solutions
• Proficiency in R, SQL, Python, or similar languages preferred
• Bachelor's or Master's degree in Actuarial Science, Statistics, Data Science, Economics, a related field or equivalent years of industry experience

Aon is not accepting unsolicited resumes from search firms for this position. If you are a search firm, you will not be compensated in any way for your submission of a candidate, even if Aon hires that candidate.

For positions in San Francisco and Los Angeles, we will consider for employment qualified applicants with arrest and conviction record in accordance with local Fair Chance ordinances.

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.

Pay Transparency Laws:

The salary range for this position (intended for U.S. applicants) is $150,000-$180,000 annually. The actual salary will vary based on applicant's education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted based on applicant's geographic location.

This position is eligible to participate in one of Aon's annual incentive plans to receive [an annual discretionary bonus] in addition to base salary. The amount of any [bonus] varies and is subject to the terms and conditions of the applicable incentive plan.

A summary of all the benefits offered for this position:

Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to: a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon's discretion; medical, dental and vision insurance, various types of leaves of absence, paid time off, including 12 paid holidays throughout the calendar year, 15 days of paid vacation per year, paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts,employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions. Eligibility for benefits is governed by the applicable plan documents and policies.

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