Reserving Actuarial Analyst

Merchants; Buffalo (NY); Hybrid; USD 75,000 - 95,000; Full time

Benefits offered by this job

Competitive pay scale

Outstanding company bonus program

Tuition Reimbursement

Generous paid time off package

Job summary

Merchants is seeking a Reserving Actuarial Analyst for its Buffalo headquarters. The role involves estimating unpaid property and casualty insurance liabilities and improving reserving methodologies.

The ideal candidate will have at least three years of actuarial experience and a Bachelor’s degree in a relevant field. This position features a hybrid work model, providing flexibility while maintaining collaboration within the actuarial team.

Qualifications

• Minimum of three years’ experience in the property and casualty actuarial field preferred.
• Credit for four exams and commitment to pursuing actuarial credentials preferred.
• Detail-oriented with strong time-management skills.

Responsibilities

• Supports quarterly and annual reserve reviews using traditional estimation techniques.
• Extracts, validates, and maintains transactional datasets.
• Improves tools and efficiency of the review process.

Skills

Excel proficiency

Analytical skills

Actuarial knowledge base

Programming/database skills

Education

Bachelor’s degree in Mathematics, Statistics, Actuarial Science, or related field

Tools

SQL

PowerBI or Tableau

ResQ or similar reserve software

Job description

Reserving Actuarial Analyst

Merchants Insurance Group, a leading Property and Casualty Insurer in the Northeast, is seeking a Reserving Actuarial Analyst for our Corporate Actuarial team based in Corporate Headquarters in Buffalo, New York.

The Reserving Actuarial Analyst will become part of a dedicated actuarial team focusing on estimating unpaid property and casualty insurance liabilities and providing reserving methodology and process improvements.

Merchants Insurance Group is rated A- (Excellent) with a stable outlook by A.M. Best and is consistently recognized as a top employer and high-performing organization. Recent honors include:

• Best Places to Work in Western New York (Buffalo Business First, 2023–2026)
• Fast Track Company (2019–2025) and Top Private Company (2019–2025)
• Ward’s 50® top‑performing property‑casualty insurer (2021–2024)
• Ivans Spark Award for Innovation (2024–2025)
• Named to Newsweek and Statista’s America’s Most Reliable Companies list (2025), ranked among the top 300 of 1,500 B2B organizations evaluated

We offer a hybrid work schedule, requiring two full days per week in the office, with flexibility to work remotely or onsite the remaining days. This model supports collaboration while providing flexibility and work‑life balance.

Essential Duties and Responsibilities

• Supports quarterly and annual reserve reviews using traditional property‑casualty unpaid claim estimation techniques and methodologies and implements the results effectively.
• Extracts, validates, and maintains transactional datasets for both internal use and transfer to the Appointed Actuary.
• Creates new or improves existing documentation, processes, and reports.
• Improves tools and efficiency of the review process and prepares reserve summary reports for various internal and external stakeholders.
• Leads reinsurance data call completion and streamlines data capture; monitors and updates reinsurance data year‑round.

Qualifications & Skills

• Bachelor’s degree in Mathematics, Statistics, Actuarial Science, or related field.
• A minimum of three years’ experience in the property and casualty actuarial field is preferred.
• Credit for four exams and demonstrates commitment to pursuing actuarial credentials from the Casualty Actuarial Society is preferred.
• Demonstrates expert proficiency in Excel.
• Demonstrates general programming and/or database skills; SQL experience is preferred.
• PowerBI or Tableau experience is a plus.
• Solid actuarial knowledge base with proficiency in reserving concepts and P&C products/coverages is preferred.
• Experience with ResQ or similar reserve software is a plus.
• Demonstrates excellent analytical, problem‑solving, and organizational skills.
• Is detail‑oriented and demonstrates strong time‑management skills to plan, prioritize, and consistently meet deadlines.
• Is action‑oriented with a focus on accuracy and results, including the ability to persevere in a variety of situations and assess the reasonableness of outcomes with precision.
• Demonstrates strong written and verbal communication skills.
• Excels independently and contributes effectively to a team environment.

Pay and Benefits

Merchants Insurance Group offers a competitive pay scale. The estimated salary for this role ranges from $75,000 - $95,000 along with an equity component and a comprehensive benefits package. This range is merely an estimate; actual compensation may deviate from this range based on skills, experience and qualifications.

• The Actuarial Analyst qualifies for participation in the Merchants Insurance Group’s Actuarial Student Program.
• Welcoming and positive work environment.
• Flexible work arrangements, including flex scheduling and summer hours.
• Hybrid work schedule: two full days per week in the office, with the option to work the remaining days per month at home or in the office.
• Colleague Appreciation Events.
• Competitive pay scale.
• Outstanding company bonus program.
• Generous paid time off package.
• Full Benefits: Health, Dental, Vision, Life Insurance, Short Term Disability, 401(k) employer match 100% up to 6% of your annual contributions. You are immediately 100% vested in the employer match dollars.
• Tuition Reimbursement.

Merchants Insurance Group is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status. Merchants Insurance Group supports a safe workplace through pre‑employment background screenings.