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Actuarial Analyst - Reserving

Company: UFG Insurance
Location: Cedar Rapids
Posted on: August 15, 2019

Job Description:

UFG offers you an award-winning workplace and a trustworthy, financially stable company. While we've always known our commitment to employees and financial stewardship, it is good to have others recognize our dedicated efforts. We've been named an Iowa Top Workplace by the Des Moines Register for four consecutive years, and included on Forbes' "America's Most Trustworthy Financial Companies" every year since 2014. Additionally, UFG is a super-regional property and casualty insurer rated "A" (Excellent) by A.M. Best Company. The actuarial analyst focuses on delivering the best estimate of reserves by building analytically based estimates that integrate a range of actuarial techniques to help UFG maintain adequate reserves. The roles support the reserving of UFG's property and casualty business book strategies in support of business objectives. Coordinates, prepares and performs actuarial analysis, analyzes loss and expense reserves and provides consultation on actuarial models and risk issues.

  • Support the reserving process through the analysis of loss and loss adjustment reserves.
  • Monitor reserve adequacy
  • Assist with financial reporting including support for annual statement.
  • Communicate information and results to a variety of technical and non-technical audiences across the organization
  • Make informed actuarial recommendations based on professional judgment and experience; effectively challenge and/or escalate issues within business decisions or processes that are not able to be supported from an actuarial standpoint.
  • Support ad hoc quantitative analysis that facilitates effective decision making
  • Apply mathematical and statistical techniques to extract, analyze, summarize and transform data sets into usable information that informs organizational leadership decisions and policies
  • Assist with preparation of actuarial memorandums and standard and special reports to support reserving recommendations
  • Respond to objections and regulatory requests
  • Support improvement efforts in order to increase consistency, efficiency, and compliance with internal standards
  • Collaborate with Finance, Underwriting and Claims to understand trends for consideration in reserving estimates
  • Other duties as assignedEducation:
    • BS in Mathematics, Actuarial Science, Statistics or related field.
    • Advanced degree preferred.
    • Must be on the Casualty Actuary Society actuarial exam track for full fellowship, having passed 3 or more Actuarial exams.
    • Prefer candidates who have completed Exam 5 Basic Techniques for Ratemaking and Estimating Claim LiabilitiesExperience:
      • 2+ years of actuarial experience in the property and casualty insurance industry
      • Prior reserving actuarial work preferred.Knowledge, skills & abilities:
        • Strong working knowledge Microsoft Office including Excel, Power Point, Word
        • Strong verbal and written communication skills
        • Knowledge of commercial insurance products and general insurance/business knowledge
        • Able to manage and coordinate own projects using multiple resources.
        • Strong analytical and problem solving skills
        • Ability to apply judgment and problem solving skills to address issues.
        • Ability to exercise discretion, and apply independent judgment and well-developed critical thinking skills in execution of assignments and projects

Keywords: UFG Insurance, Cedar Rapids , Actuarial Analyst - Reserving, Professions , Cedar Rapids, Iowa

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