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EMC Insurance Companies · 1 day ago

Senior Actuarial Analyst

Des Moines, IA

Full-time

Onsite

Mid, Senior Level

$71K/yr - $97K/yr

2+ years exp

EMC Insurance Companies is focused on collaboration and making a positive impact, and they are seeking a Senior Actuarial Analyst to perform moderately complex actuarial work for ratemaking, reserving, and modeling. The role involves collaborating with teams, conducting market research, ensuring compliance with professional standards, and leading projects to enhance actuarial processes.

Financial ServicesInsurance

Responsibilities

Collaborates with Actuary and Underwriting team members along with key leaders to ensure rate and/or reserve level is appropriate and actuarially sound

Completes and coordinates the completion of pricing, reserving, and/or modeling work assignments including data preparation and analysis, and presents recommendations to key stakeholders

Applies industry standard methodologies and techniques for pricing, reserving, and/or modeling Demonstrates methodologies and assumptions for other team members as appropriate

Tests, measures, and documents impacts of changes to methods, assumptions, and model variables

Researches market trends and emerging issues for potential impacts to EMC and opportunities for implementation

Ensures actuarial work conforms to professional standards, follows the Statement of Principles, and adheres to Actuarial Standards of Performance

Recognizes, acknowledges, and documents assumptions, biases, and limitations of reviews

Detects and corrects errors in own and others’ work as identified in part of a peer review process

Maintains, utilizes, and updates workbooks, work products, and databases

Identifies and implements innovative methods to automate and optimize existing and new processes

Develops and maintains dynamic and macro driven Excel templates and data solutions for each line of business, state, and program

Recognizes, acknowledges, and documents arguments, assumptions, biases, and limitations

Identifies root causes and consequences. Calculates impacts of problems and solutions

Defines and scopes problems based on stakeholder needs

Detects and correct errors in own and others' work as identified as part of a peer review process

Recommends tool selection and integration to people leader and senior team members

Shares best practices with team members

Leads small to moderately sized special projects, and actively participates in larger special projects lead by other team members

Provides ideas for innovation and support for research and development of new products and enhancements such as process improvements, model builds, and rating algorithm enhancements/improvements

Serves on special projects such as multistate adoption of new products, changes to rating algorithms, adding new coverages and/or segments, exploring modeling variables, analyzing reserving lines of business split, and identifying new predictive variables

Addresses unique operational issues requiring special attention such as challenges posed by state regulatory requirements and/or changing economic environment

Performs competitive analysis and researches competitor filings for new rating variables or filing support

Tracks regulatory changes

Conducts deep dives book analysis of the business for actionable insights and provides recommendations to ensure profitable growth

Documents and communicates project work to team members and other stakeholders

Follows industry publications for assigned line(s) of business and shares findings with others

Prepares data for analysis and completes advanced data validation testing including accuracy and reasonability checks

Creates and enhances data visualizations and reports

Recognizes, acknowledges, and documents arguments, assumptions, biases, and limitations of data

Identifies root causes and consequences. Calculates impacts of problems and solutions

Defines and scopes problems based on stakeholder needs

Detects and correct errors in own and others' work as identified as part of a peer review process

Studies for Actuarial exams. Engages in self-directed and collaborative learning to advance own and others understanding of actuarial methodologies and techniques. Develops insurance operational knowledge