Actuarial Analyst or Senior Actuarial Analyst

Overview & Responsibilities : Berkshire Hathaway Homestate Companies has an immediate opening for an Actuarial Analyst or Senior Actuarial Analyst. The successful candidate will support the Pricing, Business Analysis and Product Development units and serve as a technical resource in the development and testing of rating and policy administration systems for assigned lines of business. The Senior Actuarial Analyst will also identify potential problems, direct others with ongoing routine statistical studies and participate in training of staff. Essential Duties and Responsibilities for the Actuarial Analyst include: - Designs and/or initiates analyses of increasing complexity, compiles data and computes statistics for use in statistical rating studies. Compilations may require downloading and manipulating data from mainframe, vendor, and company developed software application databases. Applies advanced levels of knowledge of mathematics, statistics, principles of finance and business to casualty insurance problems. Develops methods of tracking rate history experience, statistical information, etc. from company data and other industry sources to study rate level indications in states and nationwide as initiated by the individual or management. - Initiates analyses and proposes changes in rate levels and rating structures based on statistical analyses, company experience, competition, market conditions, legal climate and underwriting practices to management and underwriting. - Revises company rate manual pages according to decisions of management and underwriting recommending appropriate cost components for use in statistical studies such as loss development factors, trend factors increased limit factors, expense loads, etc. - Compiles exhibits, explanations, justifications and statistical analysis for the submission of company rate filings, state filing forms and manual pages to the Insurance Departments. Oversees actuarial filing submissions, answers routine questions and otherwise assists in answering more difficult inquiries from Insurance Departments regarding submission, such as actuarial justification of filed rates, etc. - Researches, interprets, and communicates state law requirements affecting coverages. Submits complex issues to manager and/or actuarial or regulatory personnel for review. Essential Duties and Responsibilities for the Senior Actuarial Analyst include:- Designs and/or initiates analyses requiring increasing complexity and independent design, compiles data and computes statistics for use in statistical rating studies. Compilations may require downloading and manipulating data from mainframe, vendor, and company developed software application databases. Directs and/or participates in the research and development of building actuarial models for developing new products. Applies advanced levels of knowledge of mathematics, statistics, principles of finance and business to casualty insurance problems. Develops methods of tracking rate history experience, statistical information, etc. from company data and other industry sources to study rate level indications in states and nationwide as initiated by the individual or management. - Initiates analyses and proposes changes in rate levels and rating structures based on statistical analyses, company experience, competition, market conditions, legal climate and underwriting practices to management and underwriting. - Identifies potential problems and opportunities in the rating schemes, databases, competitor programs, etc. Designs statistical analyses and interprets results to evaluate assumptions and theories such as analyses designed to evaluate mix shifts within a class of business over time, impact of deductibles, coinsurance, and insurance to value problems. - Revises company rate manual pages according to decisions of management and underwriting recommending appropriate cost components for use in statistical studies such as loss development factors, trend factors increased limit factors, expense loads, etc. - Compiles exhibits, explanations, justifications and statistical analysis for the submission of company rate filings, state filing forms and manual pages to the Insurance Departments. Oversees actuarial filing submissions and answers inquiries from Insurance Departments regarding submission, such as actuarial justification of filed rates, etc. referring only most complicated inquiries to others for review. - Researches, interprets, and communicates state law requirements affecting coverages. Submitting only the most complex issues to superior for review. Qualifications : For Actuarial Analyst: - Bachelor degree in mathematics or related field or equivalent experience - Personal computer related spreadsheet and database manipulation software - 1-2 years related work experience, 2-3 years related work experience preferred - Principles of finance, business, statistics and insurance preferred - Knowledge of product line rating preferred - Passage of 1 or 2 Casualty Actuarial Society Examinations preferred For Senior Actuarial Analyst: - Bachelor degree in mathematics or related field or equivalent experience- Personal computer statistical and database manipulation software and programming- 3-5 years related work experience- Principles of finance, business, insurance, insurance accounting, and financial reporting- Knowledge of product line rating and policy forms- Passage of 1 or 2 Casualty Actuarial Society Examinations preferred We can recommend jobs specifically for you! Click here to get started.