Senior Actuarial Analyst - Commercial Lines Pricing
Overview:
The successful candidate will report to the Actuarial Manager for Small Commercial Lines Pricing and will be responsible for developing the actuarial pricing strategy provided to Underwriting Leadership within AmTrust Small Commercial for their respective portfolio.
AmTrust’s Commercial Lines Pricing Team is responsible for pricing and monitoring the profitability of the US P&C book of business for AmTrust excluding Worker’s Compensation. The book is approximately $2.0B and spans across General Liability, Commercial Property, Commercial Auto, Professional Liability, Management Liability, Business Owners and Umbrella.It includes Small Commercial, Transportation, Excess & Surplus, and Program Business. The team currently consists of twelve members.
The successful candidate will be primarily responsible for 1 or 2 major segments within the $1B Small Commercial book that is continuing to grow and will serve as a mentor to the junior actuarial analysts that currently support the pricing function for the Small Commercial book.For the right candidate there may be direct managerial responsibilities.
Responsibilities:
- Review and drive the profitability of their assigned segments of the Small Commercial book
- Enhance and develop the methodology and pricing indication tools
- Ensure that the necessary underlying internal data is available and of high quality
- Continuously monitor and segment the portfolio
- Evaluate new Growth and Expansion opportunities
- Contribute to groupwide efforts on capital modeling, risk analyses, ROE development and other actuarial efforts in relation to Small Commercial book
- Communicate results of pricing analyses to the various audiences including underwriting, product managers and senior management; including explanations for profitability drivers, trends in operational diagnostics of the business, profitability risks, variability, etc.; Influence the decision process.
- In conjunction with other pricing actuaries develop and maintain a library of pricing parameters including: premium and loss trend factors, loss development factors, increased limits factors, industry expected loss ratios
- Coordinate with IT to develop regular actuarial reports to be used in analysis
- Drive the enhancement of the current monthly actuarial reporting processes for each class of business, including price monitoring reports, large loss reports, incurred/paid actual versus expected analyses, etc.;
- Develop and implement recommended product and pricing changes based on business performance demonstrated through quarterly/semi-annual analytic process.
- Analyze industry trends and information and highlight the implications for the business. Support forward business planning, forecast and analysis process, also integrated with reserving and profitability process
- Work with the business planning teams in the selection of initial expected loss ratios.
Qualifications:
- Bachelor’s Degree in Math, Economics, Statistics, or similar field requiring significant quantitative analysis;
- Credentialed Fellow or Associate in the Casualty Actuarial Society (CAS)
- At least 5 years relevant experience pricing primary commercial lines (General Liability, Auto Liability, and Property)
- Working knowledge of data structures, systems, and software: VBA and SQL preferred
- Ability to work in a fast paced, team-oriented environment
- Implement planning to prioritize, organize, measure work
- Excellent communication and interpersonal skills, able to establish credibility with senior underwriters, business unit leaders and divisional leadership
- Ability to work with IT to improve the data quality and collection processes
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What We Offer:
AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include: Medical & Dental Plans, Life Insurance, including eligible spouses & children, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, Paid Time Off.
AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities.
AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative, enabling us to attract, retain and develop the best talent available.We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future.