What are the responsibilities and job description for the Actuarial Manager position at Berkley?
Berkley Mid Atlantic Group offers commercial property and casualty products and services through independent agents in Virginia, Pennsylvania, Maryland, Delaware, West Virginia, New Jersey, Washington DC, Ohio, and Kentucky. We maintain a strong local presence in our market, keeping underwriting and support close to the customer.
Now more than ever, financial strength is critical to a successful, long term insurance relationship. Berkley Mid Atlantic is a member company of W. R. Berkley Corporation, a Fortune 500 company, whose insurance company subsidiaries are rated A (Superior) by A.M. Best.
We have an exciting opportunity for an Actuarial Manager to join our team! In this role, you will report to the VP Chief Actuary of Berkley Mid-Atlantic Group and lead the quarterly reserve analyses and rate reviews, participate in the company’s planning processes and provide tools and analysis in support of profitable growth. Duties and responsibilities include but are not limited to:
- Collaborate effectively with others in the Actuarial Services department to deliver insightful analyses in the required timeframes and provide project-based developmental opportunities
- Conduct quarterly Loss & LAE reserve reviews and trend analyses
- Work on monthly forecasting and reporting for financials and key performance indicators
- Work on the actuarial component of the company’s planning processes
- Responsible for state/product rate reviews including actuarial analysis, interpreting bureau changes and current pricing levels to recommend changes and support rate filings.
- Identify, retrieve, and prepare data in support of actuarial analysis through SQL, R, and other data sources. Includes internal data (exposure, premium, loss, claims, price, etc.) and various forms of external data.
- Interpret and implement advanced analytics models for pricing and other applications
- Identify segments with profitable growth potential; identify underperforming segments and proposes corrective actions to improve profitability
- Bachelor’s degree or equivalent in math, statistics, actuarial science or economics
- FCAS preferred; ACAS required
- 8 years of actuarial experience, preferably in commercial lines and multifunctional areas (reserving, pricing, data retrieval and analytics)
- Should be proficient in Microsoft Office Suite as well as demonstrated ability to learn other software as needed; in particular, a more extensive working knowledge of Excel and a basic understanding of R or other language used for statistical computing is expected
- Exceptional oral and written communication skills, a communication style flexible to the situation, and able to communicate clearly and with a purpose
- Calm under pressure, possessing excellent organizational skills, integrity, and follow-through on tasks, able to challenge the norms while working collaboratively with colleagues at all levels of the organization
- A strong sense of accountability and ownership
- High level of integrity and dependability with a strong sense of urgency and results-orientation
- Natural curiosity, a love of learning how things work and always on the lookout for innovative improvements
- Proven ability to dissect complex business issues, perform research and analysis, and synthesize conclusions into a value-maximizing strategy
- Demonstrates an advanced level of technical and professional leadership skills
- Must be fully vaccinated and remain fully vaccinated against COVID-19. *, unless prohibited by law.