Job Title: Loss Reserves Actuarial Analyst or Assistant/Staff Actuary
Job ID: 03557
Division : P & C Loss Reserving
Work Location(s): United States-Wisconsin-Madison
Full/Part Time: Full-Time
There are three positions available.
Depending on qualifications, candidates may be considered at any level.
This position is primarily responsible for ensuring adequacy of loss and loss adjustment expense reserves for all property and casualty lines of insurance in American Family Insurance Group. Other responsibilities include financial reporting for internal and external users, forecasting incurred losses for the Group's annual Profit Plan, performing consultative services for other divisions and other research activities.
- Loss and Loss Adjustment Expense Reserving (50%)
- Under immediate direction, develops and books the property and casualty loss and loss adjustment expense reserve needs on a quarterly basis.
- Assists in the maintenance of the loss reserving database system and reports.
- Assists in the annual determination of the factor reserves and unknown injury reserves.
- Supports the Appointed Actuary by assisting with the Actuarial Opinion and Actuarial Report.
- Losses Incurred Forecasting (20%)
- Assists in performing the annual losses incurred forecast. Is aware of the economic conditions as they relate to the settlement of insurance contracts. Understands statistical methods to assist in the determination of claim frequency, claim severity and pure premium trends.
- Communicates loss forecasts with Personal Lines, Commercial Lines, Health, Claims, Actuarial, Marketing and Budget.
- Assists the maintenance of the losses incurred forecasting system and reports.
- Financial Reporting (20%)
- Measures and evaluates deviations of underwriting results from the annual Profit Plan on a quarterly basis.
- Provides loss information for various company reports; e.g., Agent Operating Report, Quarterly Operating Report, submission of experience to reinsurance broker.
- Assists in the preparation of Annual Statement exhibits related to losses and loss adjustment expenses.
- Assists in determining the monthly property and casualty insurance operating results.
- Provides information for specialized data calls from external agencies including AMBest and state insurance departments.
- Expert Resource (10%)
- Assists in the performance of actuarial modeling to quantify the impact of risks from the Group's property and casualty operations.
- Provides consultative services and assists operational management in the development of business plans and operational plans.
- Represents the division on cross-functional development teams for new programs and processes in all areas of operations.
- Achieve Results
- Be Accountable
- Maximize Customer Experience
- Analytical Thinking
- Planning & Organizing
- Quantitative Analysis
- Technical Expertise
Specialized Knowledge and Skills Requirements
- Successfully completed one Casualty Actuarial Society exam.
- Basic knowledge and understanding of computer concepts, both mainframe and personal computers.
- Demonstrated skill in the use of commonly used software packages (word processing, spreadsheet, etc.).
- General knowledge of property and casualty products.
- Knowledge and understanding of basic accounting principles.
- This position requires travel up to 10% of the time.
Offer to selected candidate will be made contingent on the results of background checks.
A career move to join American Family Insurance may also mean a physical move for you. If you are selected for an interview, information will be provided on the level of relocation assistance available during the interview.
We offer a comprehensive benefits package that includes health, life and dental insurance, a 401(K) plan, paid holidays, vacation and sick leave and the opportunity for career development. If you would like to put your career in motion apply online today!
Please review the job requirements.
American Family Insurance offers auto, home, life & annuities, health, business and farm & ranch insurance. We’ve expanded...