Assistant Actuary

A career at The Auto Club Group (ACG) can be satisfying, exciting and rewarding. By aligning your professional development with our business objectives, ACG can help you attain your career goals — and make a difference. Get started by choosing the career that’s right for you.

Dearborn, MI

The Auto Club Group

AAA was founded over 100 years ago for the purpose of lobbying for driver and passenger rights, fair laws and safer vehicles — all to better promote the love of the open road and the adventure of driving. Since then, AAA has grown to over 50 million members strong, while providing valuable membership services such as roadside assistance. Additionally, AAA has broadened its horizons to include all types of travel-related services, as well as offer a variety of insurance and financial products and services. Today’s AAA is a national federation comprised of more than 50 individual clubs throughout the United States and Canada. Whether you’re traveling around the world or to the corner grocery store, planning a honeymoon or weekend road trip, learning to drive or in need of a battery boost, the best way to begin your journey is with AAA. http://michigan.aaa.com/

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Full-Time

Competitive Compensation and Benefits Package

Overview: <p style="margin-top: 0px; margin-bottom: 0px;">The Auto Club Group (ACG) provides membership, travel, insurance and financial services offerings to approximately 9 million members and customers across 11 states and 2 U.S. territories through the AAA, Meemic and Fremont brands. ACG belongs to the national AAA federation and is the second largest AAA club in North America.</p>
Responsibilities: <p style="margin-top: 0px; margin-bottom: 0px;"><strong style="mso-bidi-font-weight: normal;">Post for positions in Actuarial Pricing and Product Development:</strong></p> <ul> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Coordinates and develops pricing for current or new property/casualty insurance coverage and products. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Coordinates and executes scheduled rate reviews to ensure rates are adequate, not excessive or unfairly discriminatory, and internally consistent with experience. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Analyzes and reviews competitive product and rate comparison reports. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Formulates and interprets complex mathematical ratemaking models using a variety of software and actuarial tools. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Provides support to other areas in the interpretation of rating data. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Acts as a project lead on actuarial projects, task forces, studies and pricing policies. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Assists management in the development of short and long term forecast to ensure meeting corporate profitability and growth goals. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Assists management in training and mentoring less senior staff.</li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Provides recommendations for improving methods, analysis and data gathering techniques used by the actuarial team.</li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Assesses the impact of assigned projects on the organization in terms of underwriting, claims, marketing, finance and other business areas.</li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Keeps current on new legislation/requirements.</li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Provides management with sound recommendations regarding changes to product design or rating structure and provides follow-up on system modifications.</li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Keeps current on actuarial issues, software tools and emerging issues affecting product lines.</li> </ul> <p style="margin: 0in 0in 0pt; tab-stops: .2in;">&nbsp;</p> <p style="margin: 0in 0in 0pt; tab-stops: .2in;"><strong style="mso-bidi-font-weight: normal;">Post for positions in Enterprise Risk Management:</strong></p> <ul> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Leads the economic capital modeling function for current or new insurance, banking, or member services and products.</li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Coordinates and executes scheduled capital model updates to ensure capital adequacy and appropriate returns on capital.</li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Develops, updates, and maintains ACG&rsquo;s stress testing framework. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Formulates and interprets complex mathematical models using a variety of software and actuarial tools. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Provides support to other areas in the interpretation of capital modeling data. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Acts as an actuarial lead on projects within Enterprise Risk Management. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Assists management in the development of short and long term capital forecasts to ensure meeting corporate profitability, growth and capital adequacy goals. </li> <li style="margin: 0in 0in 0pt; tab-stops: .2in;">Assists management in training and mentoring less senior staff.</li> <li style="margin-top: 0px; margin-bottom: 0px;">Provides recommendations for improving methods, analysis and data gathering techniques used by the ERM team and broader organization. </li> <li style="margin-top: 0px; margin-bottom: 0px;">Assesses the impact of assigned projects on the organization in terms of underwriting, claims, marketing, finance, banking and other business areas. </li> <li style="margin-top: 0px; margin-bottom: 0px;">Keeps current on new legislation/requirements. </li> <li style="margin-top: 0px; margin-bottom: 0px;">Provides management with sound recommendations regarding changes to capital planning. </li> <li style="margin-top: 0px; margin-bottom: 0px;">Keeps current on actuarial issues, software tools and emerging issues affecting product lines within insurance, banking and membership.</li> </ul> <p style="margin-top: 0px; margin-bottom: 0px;">&nbsp;</p>
Requirements: <p style="margin-top: 0px; margin-bottom: 0px;"><u>Preferred Qualifications:</u></p> <p style="margin-top: 0px; margin-bottom: 0px;"><strong>Actuarial Pricing &amp; Product Development:</strong></p> <ul style="direction: ltr;"> <li>Master or Doctoral Degree in Mathematics, Actuarial Science, Statistics or related field</li> </ul> <ul> <li>Experience in personal lines Property and Casualty with specific focus on actuarial pricing or research.</li> </ul> <p style="margin: 0in 0in 0pt;"><strong>Enterprise Risk Management:</strong></p> <ul style="direction: ltr;"> <li>Master or Doctoral Degree in Mathematics, Actuarial Science, Statistics or related field</li> <li>Experience within the Enterprise Risk Management function in the financial services industry</li> <li>Professional Designation such as: Certified Financial Analyst (CFA), Chartered Enterprise Risk Analyst (CERA), Financial Risk Manager (FRM), etc.</li> <li>Knowledge of NAIC ORSA, Solvency II, Basel, and broader insurance and banking regulatory environment</li> </ul> <p><u>Work Environment:</u></p> <p>Work in a temperature-controlled office environment.</p> <p style="margin-top: 0px; margin-bottom: 0px;"><strong><u>Required Qualifications:</u></strong></p> <p style="margin: 0in 0in 0pt; mso-outline-level: 1;"><strong><strong>Post for All Positions:</strong></strong></p> <u style="font-weight: 400;">Education:</u> <ul style="direction: ltr;"> <li>Bachelor's degree in Mathematics, Actuarial Science, Statistics or a related field.</li> <li>Designation of Associate of the Casualty Actuarial Society and a minimum of five years&rsquo; experience in an actuarial environment.</li> <li>Maintain eligibility in the Actuarial Professional Development Program following department guidelines.</li> </ul> Extensive experience in/with:<br /> <ul style="direction: ltr;"> <li>coordination and execution of projects</li> <li>use of statistical tools and software applications to complete assignments</li> <li>preparing reports and exhibits for management review</li> <li>analysis of technical studies and data and draw sound conclusions</li> <li>modeling and quantitative analysis</li> </ul> <u style="font-weight: 400;">Knowledge and Skills:<br /></u>Ability to:<br /> <ul style="direction: ltr;"> <li>make oral presentations to business units/management</li> <li>represent the department on inter-department teams&nbsp;</li> </ul> <strong><strong>Use the following in addition to above, when posting for the department noted below:</strong></strong><br /> <ul style="direction: ltr;"> <li>preparing quarterly rate indications</li> <li>formulating and interpreting mathematical rate making models</li> <li>preparing property and casualty rate filings</li> <li>preparing competitive product and rate comparison analysis reports</li> <li>calculating reserves</li> <li>pricing property and casualty insurance products</li> <li>completing actuarial research relating to insurance operations</li> </ul> <p style="margin-top: 0px; margin-bottom: 0px;"><strong>Enterprise Risk Management</strong>&nbsp;<br />Required Qualifications:</p> <span style="font-weight: 400;">Experience in five or more of the following:</span> <ul style="direction: ltr;"> <li>Developing, improving and maintaining economic capital models</li> <li>Formulating and interpreting mathematical models</li> <li>Calculating reserves</li> <li>Pricing property and casualty insurance products</li> <li>Completing actuarial research related to insurance operations</li> <li>Incorporating economic scenario generators into asset modeling</li> <li>Analyzing and interpreting catastrophe model output</li> <li>Modeling of financial risks, including credit, market, liquidity, and operational risks</li> </ul> <p style="margin-top: 0px; margin-bottom: 0px;">The Auto Club Group offers a competitive compensation and benefits packages including a base salary with performance based incentives; medical/dental/vision insurance, 401(k), generous time off, a complimentary AAA Membership and much more!</p> <p style="margin-top: 0px; margin-bottom: 0px;"><br />The Auto Club Group, and all of its affiliated companies, is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity, sexual orientation, national origin, disability or protected veteran status.</p>