Senior Actuarial Analyst, Commercial Lines

Ohio Farmers Insurance Company; Westfield Center (OH); On-site; USD 85,000 - 105,000; Full time

Job summary

A mid-sized insurance company is seeking a Senior Actuarial Analyst in Commercial Lines. This position involves conducting complex analyses and leading special actuarial projects with minimal supervision. Ideal candidates should have over 5 years of experience, with a focus on pricing and actuarial processes, and a strong background in statistical modeling. This role offers mentorship opportunities and collaboration across departments to implement pricing techniques and improve processes.

Qualifications

• More than 5 years of insurance and/or business experience is required.
• At least 4 years of actuarial experience is necessary.
• Credit for completion of the Casualty Actuarial Society work is required.

Responsibilities

• Direct actuarial projects applying actuarial skills and knowledge.
• Research and ensure accuracy of calculations and analyses.
• Provide input on the pricing of new and existing products.

Skills

Statistical Analysis

Financial Acumen

Predictive Analytics

Actuarial Analytics

Data Analysis and Reporting

Education

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

Tools

Statistical Modelling Software

Pricing Modeling

Knowledge of Programming Languages

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.