Pricing Actuary
JOB SUMMARY
Support insurance company leadership by developing ratemaking strategies aimed to meet corporate objectives. This position requires strong communication and excellent human relations skills.
ESSENTIAL FUNCTIONS
Collaborate with sales management, underwriting and claims leaders relative to underwriting operating performance and make recommendations that support a strong company business profile.
Analyze loss ratio experience, growth trends, and rate level indications for lines of business.
Perform predictive modelling to support rate analyses.
Compile and validate data, perform statistical analysis and summarize results related to operating performance for lines of business.
Keep abreast of company and industry frequency and severity trends.
Make rate adjustment recommendations and presentations to the executive leadership team.
Assist in department of insurance filings.
Assist with completion of actuarial analyses related to the AM Best Supplemental Rating Questionnaire (SRQ).
Collaborate with and support other accounting and finance personnel in project and department deliverables.
Work in partnership with Senior Actuary & Reinsurance Manager to ensure key responsibilities for both roles are adequately covered for business continuity purposes.
Regular, predictable attendance as employee has to physically be in the office.
This list of essential functions is non-exhaustive and may be supplemented as necessary.
OTHER RESPONSIBILITIES
Maintain working knowledge of KFB products.
Stay advised of current industry trends related to ratemaking.
Maintain continuing education requirements.
Assist with training and mentoring team members.
JOB SPECIFICATIONS
Physical demands: Normal vision/hearing (with or without correction); Sitting; Speaking.
Mental demands: Analytical Reasoning; Prolonged Concentration; Ability to grasp new concepts quickly; Decision making ability.
Equipment: Personal computer.
Environmental factors: Standard office lighting, temperature and noise.
SCOPE OF CONTACTS
All levels of KFB personnel.
Vendors, consultants, professional groups.
Agents and Agency Managers.
Department of Insurance.
MINIMUM EDUCATION/TRAINING REQUIREMENTS
Bachelor’s degree required preferably in a field of study demanding skill in logical problem solving, such as Mathematics, Economics, Finance, or Computer Science.
In-depth knowledge of insurance products.
Broad knowledge of an insurance company's operational areas and automated processing systems.
MINIMUM EXPERIENCE REQUIREMENTS
Fellow of the Casualty Actuarial Society and at least five years of experience in various functional areas of an insurance company, including experience in an actuarial department, which would expose incumbent to policyholders' needs and departmental interrelationships; or Associate of the Casualty Actuarial Society and at least ten years of experience.
Previous experience in personal lines pricing preferred.
Previous experience and/or training in management.
Previous experience in various project management methodologies.
Previous experience or training in Market Research and analysis.
Proven ability to organize, be creative and innovative and react in a restrictive time-frame.