Actuary

W. R. Berkley Corporation; Minneapolis (MN); On-site; USD 96,000 - 202,000; Full time

Job summary

A leading insurance company seeks an Actuary to support reserve analysis and ensure regulatory compliance. This role involves collaboration across departments to provide timely reserve estimates, mentorship for junior analysts, and participation in various financial reporting activities. The company offers a competitive salary and benefits package, aligning with market standards.

Benefits

Health insurance

Dental insurance

Vision insurance

Paid time off

401(k) plan

Profit-sharing plans

Qualifications

• Minimum 3-5 years of experience in Property/Casualty Insurance.
• Member of the Casualty Actuarial Society.
• ACAS designation required.

Responsibilities

• Lead quarterly reserve review process, analyze loss development trends.
• Collaborate with Claims and Underwriting on reserves.
• Prepare actuarial exhibits for financial reporting.

Skills

Analytical skills

Problem-solving skills

Effective communication

Education

Bachelor’s Degree in Mathematics or Actuarial Science

Tools

MS Office Suite

SQL

R

Python

Job description

Company Details

Berkley Human Services, a Berkley Company, is devoted to meeting the needs of Human Services Organizations. Our insurance policies are written through our Berkley affiliates, each of which is rated A+ (Superior) by A.M. Best Company with a Financial Category of XV.

We offer property and casualty coverage designed for the unique operational aspects of social service organizations. Our Human Services Program dates back to 1989 and has continuously evolved to meet the unique needs of the market we serve. We insure both nonprofit and for-profit social service organizations, such as child daycare, sheltered workshops, group homes, senior citizen centers, senior independent living, schools, counseling services, YMCAs, YWCAs, and Boys & Girls Clubs.

Responsibilities

The Actuary supports the Chief Actuary by the reserving function, including quarterly reserve analyses, loss development studies, and communication of reserve adequacy to senior leadership. This role collaborates with Claims, Finance, and Underwriting to ensure accurate and timely reserve estimates and contributes to strategic planning and regulatory reporting.

• Lead the quarterly reserve review process, including analysis of loss development trends and reserve adequacy.
• Collaborate with Claims and Underwriting to understand trends and operational impacts on reserves.
• Prepare actuarial exhibits and commentary for financial reporting and regulatory filings.
• Support Finance in the development of loss forecasts and planning/budgeting processes.
• Conduct special studies such as reserve variability, tail analysis, and stress testing.
• Mentor and guide 1 to 2 analysts on reserving workflows, project prioritization, and technical development.
• Interface with internal stakeholders on reserving assumptions, model enhancements, and data quality.
• Assist in the development and refinement of reserving tools and models.
• Ensure compliance with actuarial standards of practice and internal governance.

Qualifications

• Minimum of 3-5 years of experience in the Property/Casualty Insurance industry.
• Experience in multiple (package) lines of business preferred.
• Primary focus on the Reserving Practice area preferred.
• Member of the Casualty Actuarial Society.
• ACAS designation required.
• Effective communication skills, both verbal and writing.
• Strong analytical and problem-solving skills.
• Proficiency with MS Office Suite; knowledge of SQL language; knowledge of R, Python, etc. is a plus.

Education

• Bachelor’s Degree required, preferably in Mathematics or Actuarial Science.

Additional Company Details

https://www.berkleyhumanservices.com/ The Company is an equal employment opportunity employer. We do not accept unsolicited resumes from third party recruiting agencies or firms. The company offers a competitive compensation plan and robust benefits package for full time regular employees including: • Base Salary Range: $96k - $202k • Eligible to participate in annual discretionary bonus • Benefits include Health, dental, vision, dental, life, disability, wellness, paid time off, 401(k) and profit-sharing plans 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.

Additional Requirements

Travel: Occasional