Actuarial Consultant or Associate Actuary (REMOTE)

Hanover Insurance Company; Worcester (MA); Remote; USD 80,000 - 120,000; Full time

Job summary

An established industry player is seeking an Actuarial Consultant or Associate Actuary to join their dynamic Corporate Actuarial department. This full-time position offers the opportunity to contribute to the strength of the company's balance sheet through critical reserving analysis. The ideal candidate will leverage advanced actuarial concepts and collaborate with various departments, including Underwriting and Finance, to enhance decision-making. With a strong focus on career development and a commitment to diversity, this role promises a supportive environment where you can thrive and make a significant impact on the organization's success.

Benefits

Medical insurance

Dental insurance

Vision insurance

Life insurance

Disability insurance

401K with company match

PTO

Cultural Awareness Day

On-site medical/wellness center

Qualifications

• 5+ years of technical experience in pricing, reserving, or advanced analytics.
• Ability to communicate technical concepts to non-technical audiences.

Responsibilities

• Monitor reserve adequacy and communicate trends to executive leadership.
• Perform analysis using advanced actuarial concepts and methods.

Skills

Advanced communication skills

Project organization and time management

Relationship Building

Influencing Others

Results Orientation

Decisiveness

Education

Bachelor’s Degree or higher in a relevant technical field

Tools

Microsoft Excel

Microsoft PowerPoint

Intermediate programming skills

Job description

Actuarial Consultant or Associate Actuary (REMOTE)

Tuesday, April 22, 2025

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture.

Our Corporate Actuarial department is seeking an Actuarial Consultant or Associate Actuary to join our growing team in Worcester, MA Corporate Headquarters or remote work consideration.

This is a full time, exempt position.

POSITION OVERVIEW:

This role within the Corporate Actuarial department will be responsible for helping to ensure the strength of Hanover’s balance sheet and providing management with critical insights through the Reserving analysis process. Various forms of analysis include a formal quarterly review of the loss and DCCE reserves by accident and/or report year, appropriate business unit segmentation of carried reserves, other annual or semi-annual reserve analyses, and various “deep dives.” An effective candidate will also be able to suggest ways to improve our current processes by identifying enhancements and efficiencies.

Effective communication skills are critical, as a high level of collaboration with the Business (Underwriting & Pricing), as well as Claims, Accounting, and Finance is expected. Additionally, this role provides a high degree of exposure to executive leaders. The person who takes on this role would also be able to provide guidance to other members of the team and be an active member of the Actuarial and Analytics community.

IN THIS ROLE, YOU WILL:

• Monitor reserve adequacy and communicate trends to executive leadership
• Take ownership of highly dynamic commercial liability reserving lines of businesses that carry $1.5B+ in total reserves
• Be accountable for deadlines associated with the financial quarterly close
• Perform analysis that requires knowledge of advanced actuarial concepts/methods and/or advanced analytic approaches
• Question and challenge various assumptions underlying reserving analysis. Propose alternative methods/assumptions when appropriate
• Be responsible for exploring ways to continually improve processes and enhance efficiencies
• Partner with Underwriting, Pricing, Claims, Finance, and Accounting to enhance the credibility of the actuarial department and support informed decision-making
• Present results to Underwriting, Pricing, Claims, Finance, and Accounting through clear and effective communication
• May lead or participate in community recruiting and/or training activities

WHAT YOU NEED TO APPLY:

• Bachelor’s Degree or higher in a relevant technical field
• Five+ years of technical experience in multiple LOB and/or actuarial disciplines such as pricing, reserving or advanced analytics.
• ACAS preferred but not required
• Advanced communication skills
• Advanced skills using Microsoft Office, including Excel and PowerPoint
• Intermediate programming skills, including the ability to develop and automate processes
• Project organization and time management skills in order to balance conflicting priorities
• Ability to effectively influence and manage outcomes outside of direct control
• The ability to communicate technical concepts to non-technical audiences
• Able to apply and interpret company policies and procedures
• Able to direct activities of others, motivate and develop staff
• Growth Mindset – Embraces a creative approach and a changing environment. Seeks to improve processes, constantly seek to learn, apply new techniques, challenge others and themselves to find a better way
• Relationship Building - Understands the importance of developing and maintaining cooperative relationships with others at all levels of the organization by making others feel their concerns and contributions are important. Builds positive relationships with others to accomplish organizational goals.
• Influencing Others - Communicates ideas or positions in a persuasive manner that build support, agreement, or commitment. Takes actions that directly or indirectly influence others to create buy-in, gain trust, and motivate actions in others or win concessions without damaging relationships.
• Results Orientation - Excited by challenging goals and a desire to exceed standards of excellence. Exceeding the standard can include challenging personal goals, organization's standards, or current industry standards. Exhibits a true sense of competitiveness and a drive for results. Has a strong desire to win in the most challenging of circumstances and the fortitude to take calculated risks to achieve personal objectives and goals, organization's standards, or current industry standards.
• Business Enterprise Knowledge - Understands how one's own function adds value to the organization and to customers. Makes decisions and recommendations clearly linked to the organization's strategy and financial goals, reflecting an awareness of external dynamics. Demonstrates awareness by providing clear explanations for actions taken relative to customer requirements, needs, and industry trends.
• Decisiveness - Makes decisions by quickly assessing the scope of an issue and providing options leading to its closure. Determines appropriate options based on the situation.

CAREER DEVELOPMENT:

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include:

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• PTO
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)

The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.