Associate Actuary

Company Details

 

 

With over 35 years of proven expertise in the workers' compensation industry, Key Risk delivers innovative and responsive solutions that provide our clients the freedom to do what they do best. Offering guaranteed cost options to employers nationwide, Key Risk focuses on delivering products and services within specialized verticals to reduce workers' compensation exposures and deliver industry-leading results.

 

All products and services are distributed through appointed insurance agents and brokers. Key Risk is a member company of W. R. Berkley Corporation, whose insurance company subsidiaries are rated A+ (Superior), Financial Size Category XV by A.M. Best Company and A+ (Strong), by S&P.

 

For further information about Key Risk please visit www.KeyRisk.com

 

The company is an equal opportunity employer.

Responsibilities

Key Risk’s Actuarial/Business Intelligence and Analysis team transforms raw data into actionable business solutions. They leverage their in-depth industry knowledge to draw relevant insights and utilize statistical models and algorithms to deliver strategies for effective data analysis and to facilitate communications of these results to our organization’s decision makers. The team is aligned into three core pillars: (1) Pricing/Profitability/Performance Analytics, (2) Data Science/Predictive Modeling, and (3) Reserving/Budgeting. 

 

The Associate Actuary is responsible for developing, reviewing, and communicating actuarial analyses and models in collaboration with assigned associates and various teams across the WR Berkley enterprise. These analyses support the estimation of expected losses across the insurance portfolio and the projection of future financial outcomes. This role specifically will support pricing, profitability tracking, and predictive modeling/analytics for Key Risk.

 

To enhance the department’s contribution to the company’s success, the Associate Actuary is also expected to proactively identify, recommend, and communicate improvements to actuarial processes and analytical methods in response to evolving market and operational conditions.

 

The Associate Actuary will report directly to the Chief Actuary in a leadership role for analytics at Key Risk.

 

Key Functions will include but not be limited to:

• Manage staff in the Actuarial/BI&A team directly as well as other associates indirectly, depending on the project;
• Engage regularly with senior management teams at the strategic level to execute on goals;
• Collaborate across the operating functions at Key Risk and within the mono-line WC segment to implement process efficiencies through automation and predictive analytics;
• Maintain a leadership role in project management and project execution on Actuarial and BI&A related undertakings;
• Create and deliver presentation to internal stakeholders as needed;
• Provide subject matter expertise for the Data Science and Analytics Data Engineering team to effectively enhance our data analytics data stores;
• Pursue ongoing professional development through actively maintaining eligibility in the Actuarial Study Program, continuing education, advanced accreditation in the insurance and analytics fields, and participating on professional advisory boards and committees;
• Pricing/Profitability/Performance Analytics-Accountable for timeliness and quality of Actuarial aspects of product development, pricing, profitability analyses.
  • Partnering with Underwriting and other mono-line WC business units by providing Actuarial support for new products, rate filings, profitability analyses, key metrics, etc.;
  • Annually reviewing current products and pricing structure and models and providing Compliance filing teams necessary Actuarial support on rate filings to ensure ultimate approval and implementation;
  • Addressing the analytical needs of internal and external customers by providing valuable analysis, reports, dashboards, and/or electronic files as needed
• • Data Science/Predictive Modeling-Accountable for the timely execution of high-value data science projects.
    • Leading the development, testing, updating and recalibration of analytics products and predictive models including data engineering, data analysis, and AI/ML/NLP/LLM tasks;
    • Monitoring core analytical models and processes to ensure proper performance. Actively work to identify opportunities for improvement;
    • Delivering high-quality code, data analysis, and data visualizations following established standards;
    • Collaborating with enterprise IT support teams across available platforms with deployment of analytics products and predictive models.

 

 

Qualifications

Education Requirements:

 

• CAS membership or near attainment of the ACAS credential is preferred. Pursuit of ACAS and/or FCAS designation required;
• Bachelor’s or advanced degree in mathematics, statistics, actuarial science, or other similar quantitative field (or college degree with significant technical experience in a corporate setting).

Qualifications:

 

Knowledge & Experience

• A minimum of 5 years of actuarial experience, preferably with extensive background in pricing and data science;
• Advanced knowledge of actuarial ratemaking methodologies;
• Intermediate to advanced knowledge of predictive analytics techniques and model deployment;
• Proficiency working with relational databases (e.g., SQL Server), unstructured data and statistical software (e.g., R, Python, SAS) to support analytical objectives;
• Effective communication skills with demonstrated ability to collaborate, influence and articulate complicated information that is understandable and fact based to non-technical staff;
• Strong financial, analytical, and critical thinking skills with the ability to effectively resolve complex problems in a timely fashion;
• Proven project management skills-can take high-level project requirements and formulate timelines, milestones, and tasks, lead a team of actuaries and non-actuaries in the project execution, and provide accurate project status reports to management;
• Demonstrated ability to coach and lead experienced professionals;
• Experience collaborating across operational team and departments;
• Knowledge of financial and insurance regulatory reporting.

Personal Attributes

• Excellent listening and interpersonal skills;
• Desire to work in a collaborative environment;
• Curiosity and desire to learn and grow professionally and increase individual knowledge of workers compensation insurance;
• Customer-focused mindset;
• Commitment to the highest standards of ethical behavior, honesty, and integrity.

Additional Company Details

We do not accept any unsolicited resumes from external recruiting agencies or firms. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment.

Sponsorship Details

Sponsorship not Offered for this Role