Actuarial Analyst II

<strong>AF Group (Lansing, Mich.) and its subsidiaries are a premier provider of innovative insurance solutions. Insurance policies may be issued by any of the following companies within AF Group: Accident Fund Insurance Company of America, Accident Fund National Insurance Company, Accident Fund General Insurance Company, United Wisconsin Insurance Company, Third Coast Insurance Company, or CompWest Insurance Company.</strong>

United States

AF Group

<h3><strong>Attention:</strong></h3> <p><strong>From Dec. 7, 2020 until Dec. 27, 2020, we will be undergoing a transition to a new recruitment technology platform. During that time, we will not be able to accept applications.</strong></p> <p><strong>We apologize for any inconvenience this may cause.</strong></p> <p><strong>We appreciate your interest in joining our team, and would love for you to come back on Dec. 27 to apply.</strong></p> <p><strong>Thank you!</strong></p>

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Competitive Compensation and Benefits Package

Overview: <p>This position is responsible for supporting the Company&rsquo;s actuarial functions. The core actuarial functions include pricing, reserving, reinsurance analysis, and forecasting. Additional responsibilities include management reporting, competitor analysis, strategy support, financial data calls, and other ad hoc projects.&nbsp;</p>
Responsibilities: <p><strong><em>Specific Responsibilities by Focus Area:</em></strong></p> <p><strong><em>Actuarial Analyst:</em></strong></p> <ul> <li>Gather, analyze and present data in a format appropriate for pricing, loss reserving, product development, reinsurance, and other financial analysis.&nbsp;<em>&nbsp;</em>Make recommendations and present data to appropriate personnel.</li> <li>Assist in compilation of rate reviews including calculation of trends and rate indications.</li> <li>Develop and refine reports for management of pricing, loss reserving, and forecasting.</li> <li>Update premium and loss projections.</li> <li>Completion of quarterly dividend and retro premium accruals.</li> <li>Update tables and formulas in large account pricing workbook.</li> <li>Compile rate pages and rate filing support.</li> <li>Gather and report out on industry financial data.</li> <li>Support the maintenance of the catastrophic claim inventory including underlying assumptions and models.</li> <li>Support various reinsurance functions.</li> <li>Provide support for the quarterly loss reserve analysis.</li> <li>Assist with the calculation of reinsurance recoverable.</li> <li>Assist with monthly scorecard reporting.</li> <li>Compile data submissions for reinsurance pricing and external auditors.&nbsp; Perform other ad hoc projects as required.</li> <li>Perform ad hoc pricing, reserving, and forecasting studies.</li> <li>Assist with the updating of experience reports.</li> <li>Exercise discretion when communicating outside of the department.</li> <li>Maintain confidentiality of information processed as appropriate.</li> </ul> <p><strong><em>&nbsp;</em></strong></p> <p><strong><em>Focus on Financial Data Calls:</em></strong></p> <ul> <li>Combine data from multiple sources to fulfill financial data call reporting requirements.</li> <li>Use bureau tools and forms to validate and submit financial call data.</li> <li>Research and resolve rating bureau inquiries, criticisms, and error reports related to financial data call using appropriate combination of explanation and error correction.</li> <li>Maintain current knowledge of workers&rsquo; compensation financial data call reports and requirements and update process and procedure documentation appropriately.</li> <li>Maintain accurate records.</li> <li>Calculate and maintain company rate and loss cost deviations used in financial data calls</li> <li>Implement new processes and procedures.</li> <li>Review data and processes that impact financial data call reporting, provide analyses and recommend solutions.</li> <li>Maintain technical and practical knowledge of company processing systems, data sources and how best to obtain data.</li> <li>Collaborate with the Actuarial Data Team to ensure consistency and alignment of financial data information.</li> <li>Work with minimum supervision and exercise significant discretion and independent judgment.</li> </ul> <p><em>&nbsp;</em></p> <p><strong><em>Additional Responsibilities for Actuarial Analyst II</em></strong></p> <ul> <li>Provide commentary for various monthly scorecard reporting.</li> <li>Complete statutory schedules (Schedule P, Schedule X) as required.</li> <li>Independent compilation of rate review packages including indication and trend selection.</li> <li>Provide oversight for the rate filing process including monitoring of the rate review schedule and working with Regulatory Filings on timelines.</li> <li>Provide oversight for data submissions for reinsurance pricing and external auditors.</li> <li>Complete quarterly reserve analysis for assigned segments.</li> <li>Monitor quality of rate filings.</li> <li>Assist with updating of Capital Model.</li> <li>Provide assistance to Regulatory Reporting for Financial Calls requiring Actuarial assistance.</li> <li>Representation of Actuarial in Catastrophic Claim Meetings.</li> <li>Lead rate review meetings and facilitate a decision.</li> <li>Monitor deployment of predictive models.</li> <li>Participate in the development of new reports and tools for the department.</li> <li>Monitor management reporting metrics and report on unexpected variances.</li> </ul> <p><strong><em>&nbsp;</em></strong></p> <p><strong><em>Additional Responsibilities for Senior Actuarial Analyst</em></strong></p> <ul> <li>Provide oversight to the premium and loss projection process.&nbsp; Work with Operating Units on underlying assumptions and create appropriate documentation.&nbsp; Review projection files to ensure accuracy.&nbsp; Communicate results to Finance.</li> <li>Act as liaison for the Actuarial department when working with other departments such as Information Services, Corporate Claims, and Corporate Underwriting.</li> <li>Perform quarterly reserve analyses.&nbsp; Identify loss trends and investigate underlying drivers.</li> <li>Maintain and update Large Account Pricing Workbook.</li> <li>Participate in the annual planning process by assisting Brands with strategy and identifying areas for improvement.</li> <li>Perform ad hoc pricing and reserving projects with little direction.</li> <li>Perform various projects with regard to reinsurance and catastrophe modeling.</li> <li>Work with the Brands on the deployment of underwriting predictive models.</li> <li>Represent Actuarial on various corporate projects.</li> <li>Work with outside actuaries and/or consultants on various projects.</li> <li>Mentoring and training of Actuarial Interns and Actuarial Analysts.</li> <li>Lead the development of new reports and tools for the department.</li> <li>Assist in various reinsurance studies including pricing and commutation studies.</li> <li>Assist with Capital Model maintenance.</li> <li>Support the Capital Management Committee on its various tasks.</li> <li>Development and maintenance of risk adjusted performance metrics.</li> </ul>
Requirements: <p><strong>EDUCATION OR EQUIVALENT EXPERIENCE:</strong></p> <p>Bachelor&rsquo;s degree in actuarial science, mathematics, or a related field is required.&nbsp; Successful completion of one CAS examinations required. Continuous learning, as defined by the Company&rsquo;s learning philosophy, is required.&nbsp; Certification or progress toward certification is highly preferred and encouraged.</p> <p>&nbsp;</p> <p><strong><em>Additional Education for Actuarial Analyst II</em></strong></p> <p>A minimum of three CAS examinations successfully completed is required.</p> <p>&nbsp;</p> <p><strong><em>Additional Education for Senior Actuarial Analyst</em></strong></p> <p>A minimum of four CAS examinations successfully completed is required, five is preferred.</p> <p><strong>EXPERIENCE:</strong></p> <p>With proper education credentials, no experience is required; however actuarial experience is preferred.</p> <p>&nbsp;</p> <p><strong><em>Additional Experience for Actuarial Analyst II</em></strong></p> <p>A minimum of two years actuarial experience in the P&amp;C industry required.&nbsp;</p> <p>&nbsp;</p> <p><strong><em>Additional Experience for Senior Actuarial Analyst</em></strong></p> <p>A minimum of three years actuarial experience in the P&amp;C industry required, four preferred.</p> <p><em>&nbsp;</em></p> <p><strong>SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:</strong></p> <ul> <li>Knowledge of actuarial principles and practices, underwriting and claims practices preferred.</li> <li>Knowledge of mathematics and statistics with the ability to perform necessary mathematical computations.</li> <li>Ability to apply the principles of logical thinking to define problems, collect data, identify trends and draw conclusions.</li> <li>Excellent oral and written communications skills, with the ability to communicate actuarial concepts and conclusions to non-actuaries.</li> <li>Working knowledge of Microsoft Excel and preferably Microsoft Access.</li> <li>Competent and comfortable learning and working with new software.</li> <li>Maintain confidentiality as appropriate.</li> <li>Ability to work both independently and as part of a team.</li> </ul> <p><strong>&nbsp;</strong></p> <p><strong><em>Additional SKA for Actuarial Analyst II</em></strong></p> <ul> <li>Comfortable leading meetings and facilitating discussion.</li> <li>Ability to manage multiple priorities, establish workflows, and meet necessary deadlines.</li> <li>Knowledge of actuarial principles and practices, underwriting and marketing guidelines and claims practices.</li> <li>Ability to perform actuarial and statistical analyses.</li> <li>Strong working knowledge of Microsoft Excel and Access.&nbsp; Knowledge of ResQ, MetaRisk and @ Risk preferred, but not required.</li> <li>Some SQL and Visual Basic knowledge preferred.</li> <li>Some knowledge of GAAP and SAP accounting.</li> </ul> <p>&nbsp;</p> <p><strong><em>Additional SKA for Sr. Actuarial Analyst</em></strong></p> <ul> <li>Ability to create financial and actuarial models with little direction.&nbsp;</li> <li>Ability to facilitate decisions in meetings.</li> <li>Strong knowledge of GAAP and SAP accounting, including FASB accounting standards.</li> <li>Ability to establish a personal rapport with opposing parties and to resolve conflicts in a professional manner.</li> <li>Presentation skills and confidence to present company and product in one-on-one settings or in small groups.</li> <li>Comprehends the consequences of various problem situations.</li> </ul>