Assistant Actuary, Reserving - Corporate Actuarial
Join our community of over 500 credentialed actuaries and students. Our actuaries enjoy intellectual challenge, rewarding work and positions of respect. They perform critical pricing, underwriting, reserving, and research assignments, and they are key contributors to special projects, including mergers and acquisitions, capital allocation, and enterprise risk management. Our actuaries develop and apply state-of-the-art techniques and sophisticated models to a wide variety of business problems. Once credentialed, our actuaries continue to expand their skills by working in multiple business units throughout their careers. They work not only in traditional actuarial roles in personal and commercial lines, but in product management and other areas of the company that require a combination of technical expertise and practical business decision-making.
Corporate Actuarial Reserving is seeking an Assistant Actuary to support Corporates oversight of $42B in total Liberty Mutual Insurance (LMI) reserves. This is an opportunity to work directly with crossbusiness unit partners including Actuarial, Modeling Analytics, Finance, Reinsurance, Legal and Internal Audit, in addition to external parties such as auditors and rating agencies to provide insights aiding in management decision making and supporting external reserving requirements.
In this role, you will perform and review complex actuarial analyses to assess Liberty Mutual Insurance reserve adequacy. You will participate in a wide range of reserving-related projects that span the company including alternative reserving methodology research, segmentation analyses, and annual Appointed Actuary work. Other responsibilities include implementation and management of process improvement initiatives to support reserving unit goals, working closely with cross-SBU partners on other reserve adequacy related projects, and providing feedback to senior management on reserve related matters.
The successful candidate will possess strong analytical and communication skills, have excellent business judgment, enjoy identifying and solving complex problems, and demonstrate the ability to execute thoroughly in a collaborative and dynamic environment.
- Establishes an independent view of Liberty Mutual Insurance reserve adequacy for assigned segments, work spans across all business units
- Ensures a clear and comprehensive report of reserve adequacy and risk; effectively communicates results with internal customers
- Develops, maintains, and optimizes tools and processes supporting reserve analyses and reporting of results
- Monitors developments in actuarial techniques; assists in research and implementation of alternative reserving methodologies such as stochastic reserving or claim-level reserving.
- Identifies, facilitates, and promotes alignment and improvement of reserving processes, fosters best-practices, and ensures effective controls cross-SBU
- Performs complex actuarial analysis associated with Companys reserves to assist management decisions and strategy development.
- Supports the smooth and timely execution of reserve audits with external auditors and reserve overviews with rating agencies.
- Bachelor's degree required; Masters degree preferred.
- Passing grades on a minimum of 7 Casualty Actuarial Exams is required. Commitment to achieving Fellowship in the Casualty Actuarial Society.
- Minimum 3-5 years relevant experience required; sound knowledge of actuarial techniques and standards, as well as other business operations including financial, underwriting, legal, statistics, claims, sales, etc.
- Strong communication and interpersonal skills and ability to build relationships and interact effectively with others within and outside the organization.
- Ability to motivate and mentor peers and motivate and train subordinates Ability to build complex models.
We value your hard work, integrity and commitment to positive change. In return for your service, its our privilege to offer you benefits and rewards that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
At Liberty Mutual, we give motivated, accomplished professionals the opportunity to help us redefine what insurance means; to work for a global leader with a deep sense of humanity and a focus on improving and protecting everyday lives. We create an inspired, collaborative environment, where people can take ownership of their work; push breakthrough ideas; and feel confident that their contributions will be valued and their growth championed.
Were dedicated to doing the right thing for our employees, because we know that their fulfillment and success leads us to great places. Life. Happiness. Innovation. Impact. Advancement. Whatever their pursuit, talented people find their path at Liberty Mutual.
Primary Location: United States-Massachusetts-Boston
Education Level: Bachelor's Degree (16 years)
Travel: Yes, 10 % of the Time