Westfield Insurance ยท 1 month ago
Actuarial Specialist
One Park Circle, Westfield Center, OH, 44251-5001, US
Full-time
Onsite
Senior Level
6+ years expWestfield Insurance is a company focused on providing insurance solutions, and they are seeking an Actuarial Specialist to lead special actuarial projects and enhance the actuarial department's processes. The role involves designing new rating algorithms, estimating liabilities, and collaborating on complex analytical projects to improve product profitability.
Insurance
Responsibilities
Directs actuarial projects while applying actuarial skills and knowledge of the Company's insurance products and operations
Completes research, ensures accuracy of calculations and analyses, and meets project deadlines
Drives stakeholder engagement effectively, communicates complex analytical business concepts and content to Actuarial leadership and business partners, and provides insights and recommendations
Leads pricing of new and existing products, collaborates with the Underwriting and Product team, and determines loss and loss expense reserve recommendations
Applies advanced actuarial methods to estimate expected losses, cash flows, and risk aggregations
Advises management on technical pricing and ensures robust economic and actuarial evaluation of commercial agreements
Provides actuarial input into portfolio monitoring, business planning, and projections
Prepares and reviews profit analysis and identifies innovative approaches to improve product profitability
Communicates product development progress and summarizes information to the local, regional, and global senior management
Leads the development of management reports that are used to monitor performance, behavior, and results of company goals and objectives, reviews the reports created by less experienced team members, and oversees the reporting process
Develops and maintains adequate knowledge and awareness of industry activities through attendance at seminars, reading trade journals and magazines, and through personal contact with other insurance companies, state regulatory bodies, and professional affiliations
Leverages extensive knowledge and experience with relevant tools, technologies, and techniques to perform moderate to advanced analyses and identifies opportunities for process improvement
Performs ongoing review and improvements of pricing and processes for greater automation, accuracy, and rate adequacy
Prepares collateral for defending state filing materials, estimates unpaid loss and loss expense liabilities, provides support to Finance Reporting, and partners with the IT team to implement rate and rule changes in rating
Qualification
Required
6+ years of Actuarial work experience
Bachelor's degree in Mathematics, Actuarial Science, Statistics, or a related field and/or commensurate work experience
Knowledge of Programming Languages
Insurance Industry Knowledge
Financial Acumen
Corporate Reserving
Predictive Analytics
Statistical Analysis
Data Analysis and Reporting
Actuarial Analytics
Statistical Modelling Software
Pricing Modeling
Preferred
Associate of the Casualty Actuarial Society (ACAS)
Collaborates
Customer focus
Communicates effectively
Decision quality
Nimble learning
Company
Westfield Insurance
Founded in 1848, Westfield is a global leader in property and casualty insurance, delivering superior risk insights and innovative solutions to customers through a diverse portfolio of insurance products.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Joe Kohmann
Chief Financial Officer & Treasurer
Amy Larsh
Executive Assistant to the President, CEO & Board Chair
Company data provided by crunchbase