Reserving & Modeling Actuarial Analyst

Posted:
11/4/2024, 4:00:00 PM

Location(s):
Warren, New Jersey, United States ⋅ New Jersey, United States

Experience Level(s):
Junior ⋅ Mid Level ⋅ Senior

Field(s):
Finance & Banking

MSIG North America continues to grow! 

Summary/Job Purpose:

We are a multinational casualty insurance company operating in various countries, dedicated to providing exceptional insurance solutions and risk management services to our stakeholders. We seek a Reserving and Modeling Actuarial Analyst to join our dynamic team and contribute to our continued success. As an Actuarial Analyst, you will work closely with reserving actuaries and pricing actuaries, and data scientists to support the reserving capital modeling strategies for our insurance and reinsurance products. You will play a vital role in analyzing data, conducting reserving reviews, and analyzing reserve variability related to capital modeling and reserve ranges. This is an excellent opportunity to gain hands-on experience in a critical actuarial function and contribute to the growth and success of our organization.

Essential Functions:

  • Collaborate with reserving actuaries to develop and enhance risk capital and reserving models, input to risk modeling, and algorithms. Assist in the implementation and testing of new reserving and capital modeling tools and techniques to improve reserving accuracy and presentation of results to underwriters and senior management.
  • Support, analyze, and evaluate various lines of business to project loss ratios for future business including producing full reports for underwriting, management, or reinsurers. Assist in the analysis of data related to insurance policies, claims, and customer behavior to support reserving decisions.
  • Participate in actuarial analyses, including rate level indications, trend analyses, projections of loss ratios and reserve assessments.
  • Support the development of financial projections and review rate monitoring analyses for insurance products. Assist in identifying areas of improvement and recommending reserving adjustments.
  • Work closely with underwriters, actuaries, claims specialists, data scientists, and other cross-functional teams. Collaborate on special projects as required.
  • Collaborate with senior actuaries to develop and enhance capital and reserving models to provide actionable insight to senior management.
  • Prepare and manipulate large datasets using statistical software and programming languages such as R, Python, or SAS. Conduct data validations and ensure data integrity that support risk capital and reserving analyses.
  • Document reserve assumptions, methodologies, and models. Prepare reports and presentations under supervision which summarize reserving analyses, findings, or recommendations for senior management, regulators, or other stakeholders.
  • Understand the various actuarial techniques and methodologies. Seek opportunities for professional development in the pursuit of actuarial credentials.

Supervisory Responsibilities:

This position has no supervisory responsibilities.

Education and Experience Required: 

Diploma/Degree & Experience

  • Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field.
  • Proficiency in using statistical software and programming languages such as R, Python, C++, or SAS.
  • Pursuit of a professional designation (such as an ACAS, FCAS or equivalent).
  • A minimum of three actuarial examinations leading to an FCAS.
  • Two years of actuarial experience, preferably in property and casualty commercial insurance or reinsurance.
  • Strong mathematical and analytical skills, with attention to detail.
  • Basic knowledge of statistical modeling.
  • Excellent problem-solving abilities and the ability to work with complex datasets.
  • Strong written and verbal communication skills.
  • Ability to work collaboratively in a team environment and adapt to changing priorities.
  • Highly motivated, proactive, and eager to learn and grow in the actuarial field.

It's an exciting time for our company and a great opportunity to join a financially sound and growing global insurance group!  
It is the policy of MSIG-NA to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, MSIG-NA will provide reasonable accommodations for qualified individuals with disabilities.