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/

keywords: about acg,work environment,compensation,management,analysis,quality assurance,risk management,leadership,economic,analysis,experience,prepare,economic,knowledge,education

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 14 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> <p><u>Work Environment:</u></p> <p>Work in a temperature-controlled office environment.</p> <p style="margin: 0in 0in 0pt; mso-outline-level: 1;"><u><br /></u>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!<u><br /></u></p>
Responsibilities: Post for positions in Actuarial Pricing and Product Development: <br /><br /> Coordinates and develops pricing for current or new property/casualty insurance coverage and products. Coordinates and executes scheduled rate reviews to ensure rates are adequate, not excessive or unfairly discriminatory, and internally consistent with experience. Analyzes and reviews competitive product and rate comparison reports. Formulates and interprets complex mathematical ratemaking models using a variety of software and actuarial tools. Provides support to other areas in the interpretation of rating data. Acts as a project lead on actuarial projects, task forces, studies and pricing policies. Assists management in the development of short and long term forecast to ensure meeting corporate profitability and growth goals. Assists management in training and mentoring less senior staff.<br /><br />Provides recommendations for improving methods, analysis and data gathering techniques used by the actuarial team. Assesses the impact of assigned projects on the organization in terms of underwriting, claims, marketing, finance and other business areas. Keeps current on new legislation/requirements. Provides management with sound recommendations regarding changes to product design or rating structure and provides follow-up on system modifications. Keeps current on actuarial issues, software tools and emerging issues affecting product lines.<br /><br />Post for positions in Enterprise Risk Management:<br /><br />Leads the economic capital modeling function for current or new insurance, banking, or member services and products. Coordinates and executes scheduled capital model updates to ensure capital adequacy and appropriate returns on capital. Develops, updates, and maintains ACG&rsquo;s stress testing framework. Formulates and interprets complex mathematical models using a variety of software and actuarial tools. Provides support to other areas in the interpretation of capital modeling data. Acts as an actuarial lead on projects within Enterprise Risk Management. Assists management in the development of short and long term capital forecasts to ensure meeting corporate profitability, growth and capital adequacy goals. Assists management in training and mentoring less senior staff.<br /><br /><br />Provides recommendations for improving methods, analysis and data gathering techniques used by the ERM team and broader organization. Assesses the impact of assigned projects on the organization in terms of underwriting, claims, marketing, finance, banking and other business areas. Keeps current on new legislation/requirements. Provides management with sound recommendations regarding changes to capital planning. Keeps current on actuarial issues, software tools and emerging issues affecting product lines within insurance, banking and membership.
Requirements: <p><u>Preferred Qualifications:</u></p> <p>&nbsp;</p> <p><strong>&nbsp;Actuarial Pricing &amp; Product Development:</strong></p> <ul type="disc"> <li> <p>Master or Doctoral Degree in Mathematics, Actuarial Science, Statistics or related field</p> </li> <li> <p>Experience in personal lines Property and Casualty with specific focus on actuarial pricing or research.&nbsp;</p> </li> </ul> <p><strong>&nbsp;Enterprise Risk Management:</strong></p> <ul type="disc"> <li> <p>Master or Doctoral Degree in Mathematics, Actuarial Science, Statistics or related field</p> </li> <li> <p>Experience within the Enterprise Risk Management function in the financial services industry</p> </li> <li> <p>Professional Designation such as: Certified Financial Analyst (CFA), Chartered Enterprise Risk Analyst (CERA), Financial Risk Manager (FRM), etc.</p> </li> <li> <p>Knowledge of NAIC ORSA, Solvency II, Basel, and broader insurance and banking regulatory environment</p> </li> </ul> <br /> <p><strong><u>Required Qualifications:</u></strong></p> <p>&nbsp;</p> <p><strong>Post for All Positions:</strong></p> <u>Education:</u> <ul type="disc"> <li> <p>Bachelor's degree in Mathematics, Actuarial Science, Statistics or a related field.</p> </li> <li> <p>Designation of Associate of the Casualty Actuarial Society and a minimum of five years&rsquo; experience in an actuarial environment.</p> </li> <li> <p>Maintain eligibility in the Actuarial Professional Development Program following department guidelines.</p> <p><strong>&nbsp;</strong></p> <p>Extensive experience in/with:</p> </li> </ul> <ul type="disc"> <ul type="disc"> <li> <p>coordination and execution of projects</p> </li> <li> <p>use of statistical tools and software applications to complete assignments</p> </li> <li> <p>preparing reports and exhibits for management review</p> </li> <li> <p>analysis of technical studies and data and draw sound conclusions</p> </li> <li> <p>modeling and quantitative analysis</p> </li> </ul> </ul> <u>Knowledge and Skills:&nbsp;</u> <ul type="disc"> <li> <p>Ability to:</p> </li> <li> <p>make oral presentations to business units/management</p> </li> <li> <p>represent the department on inter-department teams</p> <p><strong>&nbsp;</strong></p> <p><strong>Use the following in addition to above, when posting for the department noted below:</strong></p> <p><strong>&nbsp;</strong></p> <p><strong>&nbsp;</strong></p> <p><strong>Actuarial Pricing &amp; Product Development</strong></p> <p>&nbsp;</p> <p>Required Qualifications:</p> <p>Experience in five or more of the following</p> </li> </ul> <ul type="disc"> <li> <p>preparing quarterly rate indications</p> </li> <li> <p>formulating and interpreting mathematical rate making models</p> </li> <li> <p>preparing property and casualty rate filings</p> </li> <li> <p>preparing competitive product and rate comparison analysis reports</p> </li> <li> <p>calculating reserves</p> </li> <li> <p>pricing property and casualty insurance products</p> </li> <li> <p>completing actuarial research relating to insurance operations</p> </li> </ul> <p><strong>Enterprise Risk Management</strong></p> <p>&nbsp;</p> <p>Required Qualifications:</p> Experience in five or more of the following: <ul type="disc"> <li> <p>Developing, improving and maintaining economic capital models</p> </li> <li> <p>Formulating and interpreting mathematical models</p> </li> <li> <p>Calculating reserves</p> </li> <li> <p>Pricing property and casualty insurance products</p> </li> <li> <p>Completing actuarial research related to insurance operations</p> </li> <li> <p>Incorporating economic scenario generators into asset modeling</p> </li> <li> <p>Analyzing and interpreting catastrophe model output</p> </li> <li> <p>Modeling of financial risks, including credit, market, liquidity, and operational risks</p> </li> </ul>