Under limited supervision and with significant independent judgment, applies knowledge of mathematics, probability, statistics, principles of finance and business to problems in property and casualty insurance by performing the following duties.
Essential Duties and Responsibilities:
1. Prepare and/or review rate indications for major drivelines.
a. Obtain premium and loss data using predefined or user created database procedures.
b. Create and/or maintain existing tools to obtain relevant indication assumptions.
2. Calculate company loss and expense reserves.
a. Update or validate loss triangles in prescribed reserving software.
b. Prepare or review loss development and ultimate selections.
c. Represents the organization in review with the consulting actuary providing the reserve opinion or prepares the company’s actuarial opinion.
3. Participate on rule and rate committee.
a. Recommends and prepares experience, expense or rate effect exhibits or reviews those prepared by junior staff to support product recommendations.
b. Provides actuarial support in evaluating new product or product enhancement recommendations.
c. Assists analysts and/or junior actuarial staff in understanding key actuarial concepts.
4. Provide actuarial support on corporate projects.
a. Prepare the annual Permissible Loss Ratio Analysis.
b. Provide actuarial recommendations on corporate issues such as internal rate of return.
c. Participate in multivariate rating by reviewing results at various stages of model development and providing actuarial insight on potential model attributes.
5. Serves as a Supervisor of a business unit, either directly or through subordinate leaders, including, but not limited to:
a. Recommends and communicates goals. Directs operations to ensure the achievement of required results.
b. Develops, recommends and implements operational plans and procedures.
c. Trains, coaches and leads staff.
d. Prepares and/or reviews performance appraisals; conducts performance review meetings
e. May recommend and/or implement employment actions, including employment/termination, corrective action, promotions/demotions, salary changes, etc.
6. Performs other duties as assigned
Bachelor’s degree (B.A.) from four-year college or university; or four to six years related experience and/or training; or equivalent. Fellowship designation from the Casualty Actuarial Society and eight or more years related experience and/or training; or equivalent combination of education and experience.
Frankenmuth , Michigan, United States