Reinsurance Pricing Actuary
Employment Type: Full-Time
At ICW Group, our mission is to create the best insurance experience possible. You will see that resonate in our relationships with insureds, clients, and with each other. In order to uphold that mission, we are looking for someone with the same mindset - a sharp, passionate team player to join us as a Reinsurance Pricing Actuary. Not only will you be a part of a growing team in Assumed Reinsurance, you will also be a part of a company who focuses on the details, honors their commitments, passionate about their work, and acts with integrity.
ICW Group is already an industry leading company in our primary operation, and our reinsurance division is set to continue this excellence. If you are looking to be a part of a dynamic team of insurance professionals, then apply today!
PURPOSE OF THE JOB
The purpose of this job is to price various assumed reinsurance treaties to aid ICW Assumed Re in decision making for maintaining a profitable program. This position exists to support and execute Company strategy as directed by the Chief Risk Officer and Vice President of Assumed Reinsurance, while establishing and upholding department direction, vision, and process.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Provides complex pricing analyses and develops pricing tools.
* Provides technical, actuarial analyses in the areas of pricing, ratemaking, reserving, analytics, and systems integration. While the core of this role is pricing, some reserving analyses may be necessary.
* Takes initiative to develop new business processes or comprehensive analytic efforts.
* Ensures that the work product supports business growth and profitability.
* Takes responsibility to extensively modify processes in order to improve accuracy and efficiency.
* Ensures soundness of actuarial analyses and consistency with Actuarial Standards of Practice.
* Takes a prominent role in communicating and explaining actuarial findings to business leaders.
Aids in the management of overall risk and catastrophe aggregates.
* Utilizes catastrophe modeling software and other knowledge of general catastrophe modeling to provide analyses of catastrophe aggregates for the in-force assumed portfolio.
* Extracts key insights from modeled data on an ad-hoc basis to answer specific business questions.
* Invokes critical thought process to solve complex modeling problems and identify dependencies in processes.
Leads the development of tools/systems to collect data and establish process.
* Creates and develops tools to ingest cedent submission data into ICW databases for future reference and data mining.
* Establishes repeatable processes for reinsurance pricing to generate consistent analyses.
* Develops methods for automating the process of converting cedent data for use in actuarial analyses.
* Partners with Chief Risk Officer and Vice President of Assumed Reinsurance to define and enrich assumed reinsurance underwriting guides to aid in reliable decision making practices.
This position does not have direct reports.
EDUCATION AND EXPERIENCE
Bachelor's degree from four-year college or university: Applied Mathematics, Computer Science or related degree, preferred. Minimum 4 years of related experience and/or training; or, equivalent combination of education and experience. Experience with catastrophe modeling software such as RMS and/or AIR is preferred.
CERTIFICATES, LICENSES, REGISTRATIONS
ACAS or FCAS designation.
KNOWLEDGE AND SKILLS
Strong interpersonal skills and proven project leadership abilities. Thorough knowledge of actuarial models and ability to assess results. Dedication to work toward building a working knowledge of emerging analytic techniques. Ability to work independently in deriving solutions to new business problems. Comfortable and competent in client interaction settings. Ability to take ownership of actuarial pricing analyses. Ability to apply mathematical concepts, standard statistical methods, modeling and simulation techniques; trend, indexing, cash flow, and financial analysis. Thorough knowledge of Microsoft Excel, SQL and related database tools, basic programming, and data mining; and other emerging statistical analytic techniques. Ability to grasp analytic concepts and learn new tools and logic within established processes. Adaptable to shifting workloads and building positive working relationship within the department. Ability to cross-train others and ability to manage and to prioritize concurrent assignments and responsibilities.
Office environment - no specific or unusual physical or environmental demands and employees are regularly required to sit, walk, stand, talk, and hear.
This position maps to the Individual Contributor level. Additional competencies required: None.
This position operates in an office environment and requires the frequent use of a computer, telephone, copier, and other standard office equipment.