Senior Actuarial Analyst, Commercial Lines

Westfield; Westfield Center (OH); On-site; USD 110,000 - 160,000; Full time

Job summary

Westfield is seeking a Senior Actuarial Analyst in Commercial Lines to conduct complex analyses, lead projects, and mentor junior staff. The role applies advanced actuarial methods to pricing and product performance, while ensuring compliance and best-practice processes across the business.

The successful candidate will collaborate with underwriting, IT, and product teams, stay abreast of industry trends, and develop robust management reports to monitor performance against goals.

Qualifications

• 5+ years of insurance or business experience.
• 4+ years of actuarial experience.
• Bachelor's degree in Mathematics, Actuarial Science, Statistics, or related field.
• Completion of CAS Basic techniques exam and preliminary requirements.

Responsibilities

• Directs actuarial projects while applying pricing knowledge for Commercial Lines.
• Completes research, ensures calculation accuracy and meets deadlines.
• Executes complex actuarial assignments for Commercial Lines Pricing.
• Provides input on pricing of new and existing products with cross-functional teams.
• Assists in developing management reports to monitor performance against goals.
• Maintains knowledge of industry trends through seminars and professional contacts.
• Gathers information, prepares reports, and creates datasets to support Actuarial.
• Prepares collateral for state filing materials and coordinates with IT on rate changes.
• Reviews pricing and processes for automation, accuracy, rate adequacy.
• Supports peers and junior staff in pricing activities.

Skills

Collaborates

Customer focus

Communicates effectively

Decision quality

Nimble learning

Education

Bachelor's degree in Mathematics/Actuarial Science/Statistics

CAS requirements completed or in progress

Tools

Programming Languages

Statistical Modeling Software

Pricing Modeling

Data Analysis & Reporting

Job description

Job Summary

The Senior Actuarial Analyst in Commercial Lines, working with limited supervision, conducts complex analyses, provides recommendations, and leads special actuarial projects. The role applies highly technical actuarial acumen and skill set in completing assignments and works to improve processes in the actuarial department. The role researches and develops best practices pricing techniques to be implemented across the business, serves as a mentor to less experienced professionals, provides general expertise on market trends and product performance and adheres to internal and external compliance requirements/standards.

Job Responsibilities

• Directs actuarial projects while applying actuarial skills and knowledge of the Company's insurance products and operations.
• Completes research, ensures accuracy of calculations and analyses, and meets project deadlines.
• Completes all complex actuarial assignments by following standard processes in area of Commercial Lines Pricing
• Provides input on the pricing of new and existing products, collaborates with the Underwriting, IT, and Product teams.
• Assists in developing management reports that are used to monitor performance, behavior, and results of company goals and objectives.
• Develops and maintains adequate knowledge and awareness of industry activities through attendance at seminars, reading trade journals and magazines, and through personal contact with other insurance companies, state regulatory bodies, and professional affiliations.
• Gathers information, prepares reports, and creates datasets following already documented processes in support of the Actuarial Department.
• Prepares collateral for defending state filing materials, and partners with the IT team to implement rate and rule changes in rating.
• Provides ongoing review and improvements of pricing and processes for greater automation, accuracy, and rate adequacy.
• Supports peers and less experienced professionals, analysts, and associates in their respective activities on pricing.

Job Qualifications

• 5+ years of insurance and/or business experience.
• 4+ years of actuarial experience.
• Bachelor's degree in Mathematics, Actuarial Science, Statistics, or a related field and/or commensurate work experience.
• Credit for completion of the following Casualty Actuarial Society work: passing the "Basic techniques for rate making and estimating claims liability" exam and completion all CAS preliminary requirements (e.g. exams, VEEs, online courses) prior to this exam.

Behavioral Competencies

• Collaborates
• Customer focus
• Communicates effectively
• Decision quality
• Nimble learning

Technical Skills

• Financial Acumen
• Knowledge of Programming Languages
• Statistical Modelling Software
• Pricing Modeling
• Statistical Analysis
• Predictive Analytics
• Corporate Reserving
• Data Analysis and Reporting
• Actuarial Analytics
• Insurance Industry Knowledge

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.