ASSOCIATE ACTUARY

Overview

Coordinates, leads, and manages projects in support of pricing personal, commercial, and farm lines of business utilizing accepted actuarial standards, methodologies and knowledge.

Responsibilities

• Analyzes corporate experience by line of business to evaluate rates, opportunities and risks.
• Supervise or mentor one or more Actuarial Analysts to ensure they are producing quality analysis and growing in their career.
• Evaluates procedures and processes regularly and determines or recommends alternatives to improve the procedures and processes.
• Develops rates for current and new products to position organization for profitability.
• Researches, analyzes, develops and recommends new and updated pricing for product offerings, manuals (rates/rating rules), and procedures to meet or exceed corporate objectives.
• Oversees filing for regulatory approval, and certifies as necessary.
• Presents methodology and intermediate as well as final results to a broad range of audiences at all levels of the organization.
• Participates in peer reviews to increase collaboration, ensure quality work, and drive innovation.
• Develops understanding of data mining techniques used to identify new relationships in data. Gains understanding of, and the ability to use modeling software.
• Improves financial decision-making by developing models to evaluate the financial implication of uncertain future events.
• Recommends rates with supporting analysis of potential product profitability and its sensitivity to key assumptions.
• Responsible for communicating status updates to supervisor and/or project manager to ensure projects are accomplished on time and deadlines are met.
• Develops appropriate pricing strategies to support business goals in collaboration with the AVP and Manager of Actuarial Services.
• Determines and supervises appropriate analyses to be conducted for projects in order to achieve corporate goals.
• Performs other duties as assigned.

Qualifications

• Bachelor's degree (B.A) from four-year accredited college or university – preferably in a related field of study such as actuarial science, math, statistics, or economics.
• Prefer someone who has completed at least seven actuarial exams or earned ACAS or ACA in general insurance and pursing Fellow designation preferred.
• Five years of actuarial experience in the property/casualty insurance industry is preferred.
• Demonstrates excellent oral and written communication and presentation skills, to both technical and non-technical personnel. Adapts communication style to individual audience and skill level.  May present information in one-on-one or group settings.
• Ability to listen for understanding and ask additional questions for clarification in order to formulate research efforts in response to stakeholder and business needs.
• Ability to analyze data and apply it to specific business situation to enable decision makers to understand risks and benefits.
• Demonstrated strong ability to make decisions and think logically and use personal judgment, experience, known facts and figures to draw conclusions.
• Demonstrates ability to manage time efficiently and work on multiple projects at the same time. Typical work day includes frequent interruptions and requires ability to reprioritize work based on changing business need or regulatory update.  Must have ability to remain flexible and positive in face of change and act as role model for others. 
• Ability to read, analyze, and interpret insurance policy forms and endorsements, government regulations, general business periodicals, and professional journals and understand apply to specific product and future products of Grinnell Mutual.
• Ability to work in a harmonious manner with co-employees, other departments, and supervisor.
• Ability to operate basic office equipment, including computers, utilizing specialized applications and Microsoft Office applications. Advanced statistical applications preferred. 
• Ability to keep a regular work schedule and maintain regular, predictable attendance.
• Ability to maintain confidentiality.
• High level organizational and project management skills in order to manage multiple assignments in expected timelines.
• Limited travel including an occasional overnight stay may be required.
• Demonstrated ability to adhere to all Grinnell Mutual policies.
• Demonstrated ability to incorporate Grinnell Mutual core values in all areas of work.

Working Conditions and Physical Efforts:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily.  Reasonable accommodations may be made to enable an individual with disabilities to perform the essential functions.

• The work may be stressful, especially when managing multiple projects, when working with many types of individuals, or when faced with tight deadlines. May be required to work outside of Grinnell Mutual’s established core hours to accomplish work. 
• The position is physically located in an agreed upon location per the Grinnell Mutual Work from Anywhere policy. All work arrangements must put the business needs of the organization first and ensure the coverage of all job duties.
• The noise level is relatively quiet and occasional stress is encountered as deadlines approach. The position requires an individual to sit for extensive periods at a computer monitor. Requires visual acuity and potential eye strain.  Repetitive movement is involved.  The work may be stimulating yet demanding.
• Internal contacts include: mentor, project managers, product analysts, statistical analysts, scrum masters, rating analyst, business analysts, financial comptroller, underwriting executive team, reinsurance executive team, and operations divisions.
• Frequently works with state regulators regarding filing submissions, state and company auditors.

This job description is not intended to describe, in detail, the multitude of tasks that may be assigned, but rather to give the employee a general sense of the responsibilities and expectations of his/her position. As the nature of the business demands change, so to may the essential functions of this job.