Senior Actuarial Consultant - Large Account Pricing

CNA Insurance; New Jersey; Hybrid; USD 72,000 - 141,000; Full time

Job summary

An established industry player is seeking a Senior Actuarial Consultant with a focus on Large Account Pricing. This role offers the opportunity to work closely with Underwriting, providing actionable insights and enhancing actuarial influence. The position involves complex actuarial calculations, developing pricing strategies, and monitoring profitability across various casualty lines. With a hybrid work schedule, this role allows for collaboration while also offering flexibility. Join a team that values your contributions and supports your professional growth in the actuarial field.

Benefits

Comprehensive benefits package

Flexible work schedule

Professional development opportunities

Qualifications

• Minimum seven years of related work experience preferred.
• Bachelor's degree or equivalent in a relevant discipline required.

Responsibilities

• Develops rates for existing and new business through complex actuarial calculations.
• Monitors profitability and trends for product lines and segments.
• Communicates technical insights to Underwriting and other partners.

Skills

Actuarial calculations

Excel proficiency

SQL

R

VBA

Analytical skills

Project management

Communication skills

Problem-solving

Education

Bachelor's Degree in a relevant discipline

Associate or Fellow of the Casualty Actuarial Society

Tools

Microsoft Office Suite

Job description

You have a clear vision of where your career can go. And we have the leadership to help you get there. At CNA, we strive to create a culture in which people know they matter and are part of something important, ensuring the abilities of all employees are used to their fullest potential.

Due to growth, CNA Commercial Pricing has an opening for a Senior Actuarial Consultant focused on Large Account Pricing. This role supports loss-rated and loss-sensitive casualty business across Commercial, including workers compensation, general liability, and commercial auto.

The large casualty portfolio is a growing book of business with over 420M of in force premium. Key responsibilities include developing loss picks and technical premium for individual large accounts, pricing closeouts as requested, monitoring and improving usage of the loss rating tool, performing an annual profitability review and other portfolio analyses, and being a trusted advisor with business partners. Previous large account pricing experience is not required, but successful candidates should have a strong desire to learn the necessary skills and techniques from others on the team.

This is a great opportunity for those who want to enhance actuarial influence by working closely with and delivering actionable insights to Underwriting. Our team also allows the chance for an actuary to broaden their pricing expertise across multiple casualty lines of business.

This position enjoys a hybrid work schedule that typically consists of 1 day per week at one of our CNA office locations.

JOB DESCRIPTION:

Essential Duties & Responsibilities

Performs a combination of duties in accordance with departmental guidelines:

• Performs complex actuarial calculations and actuarial studies and develops rates for existing and/or new business.
• Determines pricing or reserve strategy for an assigned area and analyzes existing pricing tools, modifying or creating new pricing tools, as needed.
• Monitors the profitability and trends for a product line or segment.
• Ensures accuracy of all financial reports and statements.
• Produces highly technical reports and communicates with other analytical staff and management including presentations to senior management.
• Manages project teams and may be responsible for special projects and presentations.
• Facilitates communication and provides technical guidance to Underwriting regarding the pricing of new and/or existing business and partners with other functional groups (e.g., Claims, Finance) on actuarial issues.
• Provides guidance to less experienced team members and may lead and/or participate in special projects.
• Stays up to date in functional area of expertise, on industry trends and developments, and assures knowledge transfer within the organization.
• May review and submit rate filings and contacts regulatory and state agencies as necessary.

May perform additional duties as assigned.

Reporting Relationship

Director or above

Skills, Knowledge & Abilities

• Strong knowledge of core functions of an insurance company, general insurance, actuarial and statistical concepts.
• Advanced actuarial technical expertise and product specific knowledge. Candidate should have experience in or the capacity to use Excel at a proficient level. Experience in a programming language such as SQL, R or VBA is preferred.
• Strong interpersonal, communication and presentation skills. Ability to effectively interact with all levels of CNA’s internal and external business partners.
• Strong analytical, critical thinking and problem-solving skills, with the ability to effectively resolve complex situations and issues.
• Solid project management, organization, and planning skills with the ability to manage multiple projects effectively and lead teams.
• Ability to exercise independent judgment and make critical business decisions effectively within scope of authority based on data analyses and reviews.
• Ability to solve issues with a sense of urgency; utilizes and manages the available resources to make informed decisions and achieve superior results.
• Ability to creatively and effectively manage through ambiguous and challenging problems, leads through change and takes appropriate levels of risk.
• Ability to comprehend business data and metrics and to further articulate analyses of actuarial data within internal reports.
• Solid knowledge of Microsoft Office Suite and other business-related software systems, including processing systems and applications.

Education & Experience

• Bachelor's Degree in a relevant discipline, or equivalent.
• Typically a minimum of seven years of related work experience. May consider lower experience levels, position level will be determined based on qualifications.
• Associate or Fellow of the Casualty Actuarial Society.

In Illinois/New York/California, the average base pay range for a Senior Actuarial Consultant is $130,500 to $185,000. Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location.

In certain jurisdictions, CNA is legally required to include a reasonable estimate of the compensation for this role. In District of Columbia, California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, New York and Washington, the national base pay range for this job level is $72,000 to $141,000 annually. Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location. CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals. For a detailed look at CNA’s benefits, please visit cnabenefits.com.

CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contact [e-mail].