Reserving Actuarial Analyst

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

Benefits offered by this job

Generous paid time off

Health, dental, and vision insurance

401(k) with employer match

Tuition Reimbursement

Job summary

Merchants Insurance Group, based in Buffalo, NY, is looking for a Reserving Actuarial Analyst to join their Corporate Actuarial team. The role involves estimating unpaid insurance liabilities and process improvements.

Candidates should have a Bachelor’s in a related field and expertise in Excel, with a preference for those pursuing actuarial credentials. A hybrid work schedule is offered, promoting a balance of remote and in-office work.

Qualifications

• Minimum of three years’ experience in the property and casualty actuarial field preferred.
• Credit for four exams towards actuarial credentials preferred.

Responsibilities

• Supports quarterly and annual reserve reviews using claim estimation techniques.
• Extracts, validates, and maintains transactional datasets.
• Creates or improves existing documentation, processes, and reports.

Skills

Expert proficiency in Excel

General programming skills (SQL preferred)

Knowledge of reserving concepts and P&C products

Excellent analytical and problem-solving skills

Strong written and verbal communication skills

Education

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

Tools

PowerBI

Tableau

ResQ or similar reserve software

Job description

Buffalo, NY

Merchants Insurance Group, a leading Property and Casualty Insurer in the Northeast, is looking for a Reserving Actuarial Analyst for our Corporate Actuarial team based in our 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 assesses the reasonableness of outcomes with precision.
• Demonstrates strong written and verbal communication skills.
• Excels independently and contributes effectively to a team environment.

Compensation & Benefits

• Salary range: $75,000 - $95,000 plus an equity component and comprehensive benefits package. This range is an estimate; actual compensation may vary based on skills, experience and qualifications.
• Actuarial Student Program participation.
• Flexible work arrangements, including flex scheduling and summer hours; hybrid work schedule requiring two full days per week in the office.
• Generous paid time off, health, dental, vision, life insurance, short term disability, 401(k) with employer match up to 6% immediate vesting.
• Tuition Reimbursement and additional benefits.

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.