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Princeton IT Services, Inc · 1 day ago

Actuarial Rating Systems Consultant (Radar / Pricing)

Philadelphia, PA

Full-time

Onsite

Mid Level

Princeton IT Services, Inc is seeking an Actuarial Rating Systems Consultant to work closely with an Insurance client’s Actuarial Lead on Rating Externalization-related projects. The role involves developing and maintaining Radar base models, conducting testing, ensuring compliance with actuarial standards, and collaborating with cross-functional teams to support various processes.

Big DataCloud ComputingCloud InfrastructureCloud ManagementCloud SecurityInformation TechnologySoftwareStaffing Agency

Senior Management

Responsibilities

Focus on the development, refinement, and maintenance of Radar base models, ensuring they comply with client’s actuarial standards and meet project requirements

Conduct comprehensive testing of Radar models to ensure accuracy and functionality, while identifying and resolving any issues to meet expected performance standards

Build models in accordance with specifications and ensure they are developed using industry best practices for quality and efficiency

Create detailed and organized documentation to support the development, testing, and deployment processes, ensuring clarity and ease of reference

Collaborating with cross-functional teams, including the IT department and business users, to gather requirements and provide support; examples include, developing data dictionaries to assist mapping of input and output variables between rating engine and underwriting system, leading testing of request and response processes/datasets/output files, and helping construct common data structures across LOBs and Business unit

Document business requirements, functional specifications, process flows, and rating attribute mappings comprehensively. Ensure product updates are accurately reflected in pricing algorithms and seamlessly integrated into systems, managing changes throughout the rating plan lifecycle