Develop actuarial, statistical, and predictive analyses/models to better differentiate loss costs and risk in the Company’s insurance portfolio and improve business processes. Analyses to be performed in a timely fashion with performance of model within a reasonable range of expectations; process improvements to be measured per operating unit standards.
- Conduct analyses into risk and profitability of key business segments
- Support development and maintenance of profit sharing programs such as Agent Bonus, Individual Loss Control and Safety Group Dividends, and allocation of General Dividend
- Develop models to help streamline workflows and increase productivity
- Support individual large account pricing; enhance large account pricing tools; ensure underwriting tools and rules are aligned with pricing tool
- Perform pricing duties including development of loss costs, rates, and appropriate credit/debits for key characteristics. Perform special studies to develop improved pricing differentiation
- Support data strategy development and business/data transformation process
- Support the development of enterprise risk management models that measure and monitor Company’s key risks. Provide technical support to identify and implement enterprise risk management industry best practices and objectives. Assist in communicating and training enterprise risk management measurement and modeling concepts to risk owners
- Assist in establishing IBNR reserve quarterly review process in coordination with independent Actuarial Consultant. Perform internal IBNR reserve reviews.
- Work with other functional areas to develop value added projects and hypotheses that align with and inform enterprise strategy
- Communicate with appropriate external parties on items impacting Company’s outlook and strategy including independent actuary, auditors, NCCI, and Department of insurance.
- Conduct studies on the industry and key competitors
- Perform other duties as assigned
Successful completion of at least five actuarial exams making progress towards designation as a Fellow of the Casualty Actuarial Society. Five years of progressively more responsible experience in workers’ compensation insurance. Bachelor's Degree in Actuarial Science, Mathematics, Statistics or related area. Adept with programming languages / software such as SAS, R, SQL, and/or other statistical programming languages preferred, Microsoft Excel. Demonstrated project management skills. Excellent communication and presentation skills. Relevant work experience (similar kind of work at a similar level of work as described in the essential duties) may be substituted for the education requirements. Completion of a degree is encouraged and supported.
WORK ENVIRONMENT/PHYSICAL ACTIVITIES:
Regular attendance required. Extensive telephone and computer work in an office environment. Must be able to attend strategic planning sessions, industry and community events requiring before/after hours and travel.