This is an entry level analytical position.
The pricing optimization analyst supports pricing of personal or commercial insurance lines of business utilizing accepted actuarial standards, methodologies, and knowledge gained through on the job training.
They work closely with their Analytics Manager and State or Line Manager to develop appropriate pricing and product strategies of low complexity to support business goals.
With direction, performs basic pricing functions used in determination of the indicated rate level need for a line of business
Can provide observations on basic trend analysis (e.g., competitor analysis, risk management, financial)
Learns and makes observations of standard financial and actuarial formulae
Follows appropriate analyses to be conducted for projects to make recommendations to achieve corporate goals
With direction plans, implements, manages, and/or contributes on projects that are up to moderate complexity and are small to moderate scale using accepted project management standards
Completes project tasks as assigned
Forecasts short-term and long-term deliverables with assistance
Tracks own plan performance and project timeline and communicates and presents project status
Ensures project controls are in place throughout the lifecycle of the project on individually assigned tasks.
Actively builds strong relationships among teams and team members to ensure cooperation on project objectives
With direction, supports the development/design of new plans, programs, processes, products up to moderate complexity
Assists in the development of communication plans
Solicits inputs from stakeholders
Participates in the evaluation of procedures and processes
Participates in the integration and delivery of planned changes/projects/ products to regions/field
Learning standard market specific implications of business strategies
Learning and adheres to proper execution of regulatory/legislative practices for Product Management
Learning and adheres to the internal and external compliance requirements/standards
Bachelor’s degree required – preferably in related field of study such as finance, math/applied math, statistics/applied statistics, economics
Standard knowledge in the use of data sources and applications to conduct research
Has an understanding of current industry and professional standards/ environment to impact decisions and indicate requirements
Can analyze data and review analysis from others and identify and resolve basic data issues
Computer proficiency in Microsoft Office:
Intermediate – Excel, Intermediate – Word, Beginner – Outlook, Basic - PowerPoint
Possesses working knowledge of policies and procedures in management or other technical fields
Strong written and verbal communication skills including the ability to effectively collaborate with multi-disciplinary groups and all organizational levels
High level organizational and project management skills in order to handle multiple concurrent assignments in a timely manner and to monitor processes throughout a team or department
Strong decision making skills
Works effectively in a team environment
Allstate - 21 months ago
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