Senior Actuarial Reserving Consultant - Hybrid/Remote

Ohio Farmers Insurance Company; Westfield Center (OH); Hybrid; USD 120,000 - 180,000; Full time

Job summary

Westfield is seeking an Actuarial Consultant to advance loss reserving, reporting, and R&D. You will be a technical expert, leading reserve analyses, communicating to management, and partnering with Claims, Finance, and IT to implement rating rule changes.

You will mentor junior analysts, supervise 1-2 staff, apply methods like Bornhuetter-Ferguson and loss development, and benchmark reserves against peers while staying current with regulatory developments.

Qualifications

• 7+ years of experience in Actuarial or a related field.
• Bachelor's degree in Actuarial Sciences, Mathematics, Statistics, Finance, Economics or related field and/or commensurate work experience.

Responsibilities

• Leads the preparation and analysis of loss and loss adjustment expense reserves across assigned lines of business, applying actuarial methods (e.g., loss development, Bornhuetter-Ferguson, frequency/severity) to estimate ultimate losses and reserve adequacy.
• Performs quarterly and annual reserve reviews, documents key assumptions and judgments, and communicates reserve indications and drivers of change to management and Financial Reporting.
• Identifies opportunities to streamline and automate the reserving process, improving turnaround time, consistency, and data quality across reserving cycles.
• Develops and maintains reserving tools, models, and templates, partnering with IT and Data teams to enhance efficiency and reduce manual effort in reserve calculations and reporting.
• Conducts competitor and industry benchmarking studies, comparing the Company's reserve levels, loss development patterns, and reserving assumptions against peer and industry data to identify emerging trends and potential areas of exposure.
• Monitors external actuarial research, regulatory developments, and industry reserve adequacy studies, incorporating relevant findings into internal reserving practices.
• Analyzes emerging loss trends, claim frequency/severity shifts, and portfolio mix changes, assessing their impact on reserve estimates and flagging areas of concern.
• Provides technical guidance and support to other members, mentors Actuarial Analysts, and less experienced Actuarial Consultants. Empowers team members and project groups to build reserving methodologies, pricing oversight, and related monitoring techniques consistent with best practice standards.
• May supervise 1-2 employees, support employee selection, performance management, coaching, and development. Manages priorities and workload distribution and removes barriers that impede project progress.

Skills

Actuarial analysis

Data analysis

Communication

Team mentorship

Reserving optimization

Insurance industry knowledge

Education

Bachelor's degree

Tools

Statistical Modeling

Data Analysis

Competitor Benchmarking

Corporate Reserving

Reserving Process Optimization

Financial Acumen

Insurance Industry Knowledge

Job description

Westfield is seeking an Actuarial Consultant to advance loss reserving, reporting, and R&D. You will be a technical expert, leading reserve analyses, communicating to management, and partnering with Claims, Finance, and IT to implement rating rule changes.

You will mentor junior analysts, supervise 1-2 staff, apply methods like Bornhuetter-Ferguson and loss development, and benchmark reserves against peers while staying current with regulatory developments.