P&C Actuary at Swiss Re Armonk, NY

Swiss Re; Armonk (NY); On-site; USD 86,000 - 156,000; Full time

Job summary

Swiss Re is hiring a P&C Actuary in Armonk, NY, to support reserving and financial reporting tasks. The successful candidate will play a crucial role in pricing and evaluating commutation agreements, ensuring compliance with regulatory frameworks, and utilizing actuarial models. Candidates should have 3-5 years of experience in (re)insurance, and proficiency in R or Python is a plus. This position offers a salary range of $86,000 to $156,000, reflecting a total compensation strategy.

Qualifications

• 3-5 years of relevant experience in (re)insurance, preferably with exposure to reserving and pricing.
• Strong analytical skills with proficiency in actuarial modeling.
• Experience in pricing or evaluating commutation agreements is highly desirable.

Responsibilities

• Prepare and present detailed reports to senior management.
• Ensure pricing activities comply with regulatory frameworks.
• Assist in quarterly and annual reserve calculations.
• Analyse historical loss data to inform pricing strategies.
• Lead the pricing of commutation deals.

Skills

Analytical and quantitative skills

Communication skills

Programming in R or Python

Education

Associateship or Fellowship designation with CAS

Job description

P&C Actuary job at Swiss Re. Armonk, NY.

About the Role

Are you a highly motivated P&C Actuary looking for an exciting new challenge? Join our Actuarial & Reserving P&C Americas team, where you'll play a pivotal role in supporting our key reserving and financial reporting tasks. This is an incredible opportunity to contribute to actuarial pricing and the valuation of commutation deals in a collaborative and innovative environment.

Key responsibilities

• Reporting: Prepare and present detailed reports to senior management, highlighting the financial implications and strategies related to commutations.
• Regulatory compliance: Ensure all pricing activities are compliant with regulatory frameworks and internal policies.
• Reserving support: Assist in quarterly and annual reserve calculations for Americas market business using modern reserving tools and methods.
• Data analysis: Analyse historical loss data and trends to inform pricing strategies and ensure accuracy of pricing models.
• Collaboration: Work closely with underwriters, claims professionals, reserving actuaries, and other stakeholders to gather necessary input and provide actuarial insights.
• Commutation pricing: Lead the pricing of commutation deals by developing and applying actuarial models to assess their financial impact.
• Risk assessment: Evaluate risks associated with commutation agreements and recommend measures to mitigate adverse outcomes.
• IFRS valuation: Perform IFRS-compliant valuations of commutation deals to support accurate financial reporting.
• Project work: Lead or contribute to actuarial projects, including system development and the implementation of valuation frameworks such as IFRS 17.
• Continuous improvement: Stay abreast of industry developments and contribute to the ongoing enhancement of actuarial pricing methodologies and tools.

About the Team

The Actuarial & Reserving P&C Americas team is composed of a diverse group of professionals from various cultural backgrounds. We operate in a collaborative environment, working closely with Underwriting, Claims, Finance, Risk, and senior management. We emphasise continuous learning, support knowledge sharing, and encourage innovation in actuarial science.

About You

• 3-5 years of relevant experience in (re)insurance, preferably with exposure to reserving and pricing of commercial business.
• Working towards Associateship or Fellowship designation with CAS.
• Experience in pricing or evaluating commutation agreements is highly desirable.
• Strong analytical and quantitative skills, with proficiency in actuarial modelling.
• Programming skills in R, Python, or similar languages are advantageous.
• Excellent communication and interpersonal skills; comfortable working in multicultural and cross-functional settings.
• Demonstrate ability to manage multiple priorities, work independently, and drive results in a dynamic environment.

The estimated base salary range for this position is $86,000 to $156,000. The specific salary offered for this, or any given role will take into account a number of factors including but not limited to job location, scope of role, qualifications, complexity/specialization/scarcity of talent, experience, education, and employer budget. At Swiss Re, we take a "total compensation approach" when making compensation decisions. This means that we consider all components of compensation in their totality (such as base pay, short-and long-term incentives, and benefits offered), in setting individual compensation.