Actuarial Analyst Risk Insurance
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Overview
Job Description
The role of the Actuarial - Insurance is responsible for analysis, pricing, and reserving of a variety of products.
7+ years of professional experience, 3+ years working in an Analytics role in financial services industry; experience in Risk Management a plusEducation
" Bachelor s Degree in a quantitative discipline: Statistics, Mathematics, Economics, Operations Research, Data Science
" Master s Degree in a related field (desired)Skills
" Ability to conduct large-scale projects and research through all stages: concept formulation, the definition of metrics, determination of appropriate methodology, research evaluation and final research report
" Specialized ability to communicate highly technical subjects to senior executives and others who have limited background in mathematics or statistics
" Analytical and conceptual thinking the ability to understand business problems and develop data-driven solutions
" Work collaboratively with Accounting/Controlling team to validate the monthly financials and IFRS 17 projects.
" Support a robust pricing and/or reserving review process for the insurance business, including both standard actuarial techniques and advanced modeling
" Develop and communicate business analytics to Senior Leadership
" Excellent communication and presentation skills targeting a variety of audiences; experience working with external auditors a plus
(Desired)
" FCAS designation
" Ability to use SAS/Python
" Personal or commercial auto insurance experience
" Excellent Excel skills and strong with SQLMain responsibility
Actuarial & Analytical Duties (60%):
" Understand and provide effective challenge on Pricing and Reserve calculation for Auto Insurance products
" Collaborate with Risk Management, Accounting, and senior management in establishing adequate loss provisions for Insurance products
" Engage with CFO, VP of Finance, Chief Risk Officer, Accounting, Risk Management, Brand executives and external auditors to gain acceptance on the loss and reserve forecasts. Provide technical and operational support to auditors to ensure successful audit close
" Lead enhancements and automation of data structure, integrity, validation, and reporting.
" Extract and analyze data from data warehouse to enhance underwriting, pricing, reserves, and prediction of future issues and trends.
" Provide all actuarial inputs for actual and forecast income recognition.
" Update and report on actual experience compared to forecast and pricing. Recommend and drive actions to drive on-target results.
" Support IFRS 17 reporting and analysis.
Underwriting Responsibilities (20%):
" Develop and implement underwriting guidelines and procedures to ensure consistency and compliance.
" Collaborate with Front-End Staff, Accounting, Sales, and others to influence acceptability criteria and product structure.
" Ensure regulatory compliance with insurance laws and internal standards.
Leadership & Strategic Oversight (20%):
" Lead and mentor analysts, providing training and performance feedback.
" Set strategic direction for underwriting and risk management aligned with company goals.
" Implement process improvements to enhance efficiency, accuracy, and turnaround times.
" Participate in cross-functional initiatives, including sales, claims, and compliance.
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