Senior Actuarial Expert

Allianz Commercial; Chicago (IL); Hybrid; USD 150,000 - 170,000; Full time

Job summary

Allianz Commercial is seeking a Senior Actuarial Expert in Chicago, hybrid role. You will lead actuarial analyses to ensure robust reserves, collaborating with underwriting, claims, and pricing teams, and presenting insights to executives.

You will apply advanced methods and maintain strong governance around IFRS 17 reserve estimates. The role requires extensive P&C reserving experience, ACAS credential, and proficiency in R/Alteryx/Tableau/Python.

Qualifications

• Experienced actuarial professional with reserving focus and IFRS knowledge.
• Ability to communicate complex results to senior stakeholders clearly.
• Proficient with IFRS 17/IFRS 4 and P&C reserving concepts.

Responsibilities

• Estimate adequate loss reserves for lines of business on IFRS 17 basis.
• Derive normalized loss ratio and validate bookings via reserve reviews.
• Support monthly closings and prepare materials for Loss Reserve Committee.
• Drive process innovation to improve forecast quality and predictability.
• Peer review work and mentor junior colleagues.

Skills

Strong analytical skills

Communication to C-Suite

Cross-functional collaboration

Problem solving

Stakeholder management

IFRS 17/IFRS 4 knowledge

P&C reserving knowledge

Leadership and mentoring

Attention to detail

Education

ACAS

Tools

R

Alteryx

Tableau

Python

Job description

Our Actuarial Reserving team is currently looking for an Senior Actuarial Expert based in Chicago. This is a hybrid role.

Your Team

Allianz Commercial employs the brightest, most passionate people in the insurance industry. We'd love for you to join our growing team! We invest in our people through training and professional development while supporting you along the way - so you can meet your career goals. To us, the most important measure of our success is yours. The CFO actuarial reserving team is a key unit in the broader CFO function and strategic contributor to the long-term success of Allianz Commercial. We are an experienced, diverse and hardworking team and we look forward to welcoming you onboard.

The Impact You Will Have

You will join the Actuarial team as an experienced professional, ensuring robust reserves are held by doing both independent actuarial analysis and actively collaborating with various stakeholders. You will derive forward- looking loss ratio views to inform business steering and quarterly closing. You will be comfortable and confident working with colleagues around the globe and presenting up to C-Suite level. Regular stakeholders will include: underwriting, claims and pricing teams – working together to understand trends, business mix movement and market development and ESG topics.

As an Actuarial Expert, you will ensure that best in class actuarial methods and techniques are adopted and implemented. Using your experience, you will address new and previously unknown challenges such as inflation impact on reserves.

Some Of Your Specific Responsibilities Could Include

• Ensure that adequate loss reserves are estimated for your line(s) of business on IFRS 17 basis.
• Support the Actuarial Function team in derivation of a normalized loss ratio, and where relevant validate selected and booked NLR via annual reserve reviews.
• Support the reserving team in monthly closings and contribute to the presentation for the Loss Reserve Committee.
• Drive innovation and efficiency in all our processes, particularly to improve the quality in forecasts, achieving a high predictability.
• Peer review work from other team members and provide training and guidance to junior colleagues.

What You'll Bring To The Role

• Minimum 8 years business experience in the P&C industry, preferably spanning multiple actuarial areas with a focus in Reserving
• ACAS
• Job specific knowledge with regard to market dynamics, standard concepts and approaches, regulations/compliance standards, reporting requirements (e.g., reinsurance and underwriting knowledge, reserving techniques, data flows, etc.)
• Finance and Insurance know-how (ideally P&C) as well as a healthy curiosity to understand complexities inherent in an insurance group (consolidation processes, legal vs management view) allowing for cross-departmental thinking and acting
• Ability to identify patterns and root causes in complex (e.g. ambiguous, from various sources) data and processes to rapidly distil key issues and provide insight in various situations
• Basic balance sheet understanding on IFRS 4 and IFRS 17 bases, and experience of closing and reporting related topics
• High level of analytical ability, capable of clearly communicating results and findings in a clear and concise manner
• Proficiency in R/Alteryx/Tableau/Python is a plus
• Experience in applying artificial intelligence (AI) and machine learning (ML) to improve business processes and decision-making is preferred

The annualized base pay range for this role is $150,000 - $170,000. The annual base salary range represents nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

Be advised that the position you are applying for involves responsibilities related to cash handling. As part of our commitment to ensuring the safety and security of our operations, all candidates ( internal and external) selected for this role will be required to undergo a background check. This process includes, but is not limited to, verification of criminal history and financial history. By applying for this position, you acknowledge and consent to the background check as a condition of employment.

107974 | Actuarial | Professional | Allianz Commercial | Full-Time | Permanent

What's in it for you?

Let's care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let's care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let's care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let's care for life's twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

Let's care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

Learn more about careers at Allianz Commercial by clicking here.

Learn more about Allianz Commercial by clicking here.

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

We therefore welcome applications regardless of race, ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us.

Let's care for tomorrow.

People With Disabilities

We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email [e-mail]

Recruitment Agencies

Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly. Failure to comply could/may result in the disqualification of the candidates and/or the termination of our contract and/or fees not being paid.