Actuarial Consultant

Verisk; Jersey City (NJ); On-site; USD 120,000 - 180,000; Full time

Job summary

Verisk’s Government Relations Department seeks an ACAS/FCAS actuarial consultant to support ISO core lines, loss costs, and CRS models. You will interact with state regulators, review filings, and contribute to predictive analytics within underwriting and catastrophe risk solutions.

The role involves presenting regulatory analyses, providing actuarial support for inquiries, and staying abreast of ASOPs. Regular collaboration with business units and travel to industry events may be required.

Qualifications

• Bachelor’s degree in actuarial science, mathematics, statistics, or related majors.
• ACAS or FCAS certification.
• Minimum 7 years of insurance experience.
• Familiarity with ISO lines of business and regulatory processes.

Responsibilities

• Work with business units and GRD to secure regulatory approval for ISO core products and loss costs.
• Support predictive modeling initiatives.
• Provide actuarial peer review on ratemaking methodologies and stay current with ASOPs/NAIC activity.

Skills

ACAS/FCAS

Regulatory experience

Actuarial modeling

Communication skills

Team collaboration

Education

Bachelor's degree in actuarial science

Tools

Excel

Word

PowerPoint

Job description

Job Description

Verisk’s' Government Relations Department (GRD) is in search of a talented ACAS/FCAS for the role of Government Relations Actuarial Consultant. As part of the Government Relations team, you will support as needed the Verisk business as a whole with focus on our Underwriting Solutions group including their flagship product of ISO Core Lines Programs (forms, rules, & loss costs) and other underwriting products, as well as our catastrophe modeling products from Verisk’s Catastrophe & Risk Solutions (CRS).

Responsibilities

• Work with the business units and the GRD team to support and secure timely approval from state regulation of ISO's core products (loss costs, related rules, statistical data) for all lines of business.
• Work with the business units in support of predictive modeling initiatives.
• Support Verisk’s Catastrophe & Risk Solutions (CRS) team as needed with model review, regulator acceptance, etc.
• Grow understanding of CRS models and usage between Verisk business units and products.
• Make regular visits to or have regular contact with state regulators to resolve issues and maintain relationships.
• Develop and implement strategies to achieve positive regulatory action in response to new ISO programs and high priority filings.
• Make presentations to state regulators and other audiences as necessary to secure regulatory acceptance of ISO initiatives.
• Provide complete and timely actuarial support for regulatory inquiries on ISO filings.
• Provide actuarial peer review to new or modified ratemaking methodologies. Stay abreast of all relevant ASOPs and NAIC activity for their impact on ISO products.
• Provide business units with state-specific Government Relations input and filing recommendations in response to actuarial ALERT indications for assigned lines / states.
• Foster positive regulatory environment and provide support for ISO's interactions with the independent bureaus.
• Occasional travel required for industry conferences, regulator visits, etc.

Qualifications

• Bachelor’s degree in actuarial science, mathematics, statistics, or related majors.
• Associate (ACAS) or Fellow (FCAS) of Casualty Actuarial Society.
• Minimum 7 years insurance experience desired. Deep knowledge of regulatory issues, industry, market, etc. desired.
• Broad familiarity with most ISO lines of business preferred.
• Excellent interpersonal, oral and written communication skills, including presentation skills.
• Excellent negotiating skills.
• Ability to work independently and as part of a team.
• Familiarity with catastrophe and predictive analytics modeling preferred.
• Familiarity with filing process and regulatory concerns preferred.
• Computer skills: Excel, Word, PowerPoint required; basic understanding of programming preferred.
• Some travel required.

About Us

For over 50 years, Verisk has been the leading data analytics and technology partner to the global insurance industry by delivering value to our clients through expertise and scale. We empower communities and businesses to make better decisions on risk, faster.

At Verisk, you'll have the chance to use your voice and build a rewarding career that's as unique as you are, with work flexibility and the support, coaching, and training you need to succeed.

For the eighth consecutive year, Verisk is proudly recognized as a Great Place to Work® for outstanding workplace culture in the US, the fourth consecutive year in the UK, Spain, and India, and the second consecutive year in Poland. In addition, we’ve been recognized by The Wall Street Journal as one of the Best-Managed Companies and by Forbes as a World’s Best Employer, testaments to the value we place on workplace culture.

We’re 7,000 people strong. We relentlessly and ethically pursue innovation. And we are looking for people like you to help us translate big data into big ideas. Join us and create an exceptional experience for yourself and a better tomorrow for future generations.

Verisk Businesses

Underwriting Solutions — provides underwriting and rating solutions for auto and property, general liability, and excess and surplus to assess and price risk with speed and precision

Claims Solutions — supports end-to-end claims handling with analytic and automation tools that streamline workflow, improve claims management, and support better customer experiences

Property and Restoration Solutions — offers property estimation software and tools for professionals in estimating all phases of building and repair to make day-to-day workflows the most efficient

Specialty Business Solutions — provides an integrated suite of software for full end-to-end management of insurance and reinsurance business, helping companies manage their businesses through efficiency, flexibility, and data governance

Catastrophe and Risk Solutions — provides risk modeling solutions to help individuals, businesses, and society become more resilient to catastrophic events.

Marketing Solutions — delivers data and insights to improve the reach, timing, relevance, and compliance of every consumer engagement

Life Insurance Solutions – offers end-to-end, data insight-driven core capabilities for carriers, distribution, and direct customers across the entire policy lifecycle of life and annuities for both individual and group.

Verisk Maplecroft — provides intelligence on sustainability, resilience, and ESG, helping people, business, and societies become stronger

Verisk Analytics is an equal opportunity employer.

Verisk invests in a benefits package for all employees that includes the following: Health Insurance, a Retirement Plan, Disability benefits, and a Paid Time Off program. We offer a competitive total rewards package that includes base salary determined based on role, experience, skill set, and location.

All members of the Verisk Analytics family of companies are equal opportunity employers. We consider all qualified applicants for employment without regard to race, religion, color, national origin, citizenship, sex, gender identity and/or expression, sexual orientation, veteran's status, age or disability. Verisk’s minimum hiring age is 18 except in countries with a higher age limit subject to applicable law.

https://www.verisk.com/company/careers/

Unsolicited resumes sent to Verisk, including unsolicited resumes sent to a Verisk business mailing address, fax machine or email address, or directly to Verisk employees, will be considered Verisk property. Verisk will NOT pay a fee for any placement resulting from the receipt of an unsolicited resume.

Verisk Employee Privacy Notice