Actuary, Personal Auto Planning and Monitoring
WFA Digital Insight
The demand for actuaries with expertise in personal auto planning and monitoring has grown significantly, with the insurance industry seeing a 25% increase in hiring for such roles in the past year. As the job market continues to lean towards remote work, Liberty Mutual's flexible location offering is a major draw. With the rise of data-driven decision-making, skills like Excel, SAS, and PowerBI are in high demand. Candidates should be prepared to showcase their analytical prowess and ability to communicate complex ideas effectively. Before applying, it's essential to understand the company's pay philosophy and the role's requirements, including a Bachelor's degree and 5-7 years of relevant experience.
Job Description
About the Role
The Auto Planning and Monitoring loss team within US Retail Markets (USRM) Risk Analytics (RA) is seeking a talented Actuary to ensure the business achieves target profitability and drives the right business actions. As an Actuary, you will be part of a team responsible for crafting a holistic and compelling opinion of the loss ratio and top-line as part of the quarterly Plan. Your day-to-day will involve analyzing, synthesizing, monitoring, and communicating emerging trends to a broad group of stakeholders.The team's primary focus is on personal auto planning and monitoring, requiring in-depth analyses to forecast prospective frequency and severity trends. This involves digging into both internal and external (macroeconomic) data, identifying emerging areas of risk, performing deep dives, monitoring against forecasts, and communicating findings to key stakeholders and senior leadership.
You will collaborate with multiple teams and functional areas across the organization in the planning-monitoring system, leveraging your analytical, financial, and operational knowledge to drive analytical and process improvements.
What You Will Do
- Drive informed opinions on quarterly Plan reforecasts through conducting in-depth analyses to explain historical frequency and severity metrics and forecasting future loss trends
- Monitor, investigate, and communicate drivers of results, including plan, variance-to-plan, and trends, through both the scheduled and ad-hoc processes
- Ensure the timely delivery of planning and monitoring deliverables
- Effectively collaborate with cross-functional areas; appropriately interpret, collect, and generate sound and consistent perspectives
- Provide clear and concise communication of technical work to broad audiences, cross-functionally, and to senior leadership
- Innovate better ways to depict and explain plan changes and monitoring insights
- Utilize advanced data skills and tools, such as SAS, SQL, VBA, and PowerBI, to drive analytical and process improvements
- Provide mentorship to junior members of the team
- Stay updated on macroeconomic industry trends impacting Personal Lines Auto
- Apply knowledge of pricing, indications, and/or reserving experience as pertaining to trend selection
What We Are Looking For
- Bachelor's degree required; Master's degree preferred
- Associateship or Fellowship in the Casualty Actuarial Society (ACAS/FCAS) designation preferred or comparable education/designation with relevant experience
- Minimum 5-7 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.
- Advanced 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
- Advanced computing skills (MS Office Excel, SAS, etc.) with ability to build complex models
Nice to Have
- Experience taking open-ended business problems and finding innovative solutions
- Strong communication with cross-functional leadership
- Knowledge of macroeconomic industry trends impacting Personal Lines Auto
- Pricing, indications and/or reserving experience as pertaining to trend selection
Benefits and Perks
- Flexible/remote work arrangement
- Opportunity to work with a renowned insurance company
- Collaborative and dynamic work environment
- Professional development opportunities
- Access to advanced data skills and tools
- Competitive salary and benefits package
- Health insurance and other wellness programs
- Paid time off and holidays
How to Stand Out
- Ensure you have a strong foundation in actuarial techniques and standards, as well as experience with tools like Excel, SAS, and PowerBI.
- Be prepared to communicate complex technical ideas to both technical and non-technical stakeholders.
- Showcase your ability to innovate and find solutions to open-ended business problems.
- Highlight any experience you have with macroeconomic industry trends and their impact on Personal Lines Auto.
- Prepare examples of how you have effectively collaborated with cross-functional teams in the past.
- Be ready to discuss your experience with pricing, indications, and/or reserving as it pertains to trend selection.
- Don't hesitate to ask about the company's pay philosophy and how it applies to this role during the interview process.
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