Actuarial Analyst

ISO
Jersey City, NJ Full Time
POSTED ON 8/11/2022 CLOSED ON 10/1/2022

Job Posting for Actuarial Analyst at ISO

Company Description


We help the world see new possibilities and inspire change for better tomorrows. Our analytic solutions bridge content, data, and analytics to help business, people, and society become stronger, more resilient, and sustainable.

Verisk has an amazing story to tell…Named to Forbes America’s Best Mid-Size Employers 2017 List and Forbes World’s Most Innovative Companies 2017 Acknowledgment as a ‘best employer’ is a testament to the Verisk team around the world. At Verisk, you can build a rewarding career with challenging and meaningful work, create a positive, lasting impact on the business, and find the support, coaching, and training it takes to advance your career. Our commitment to individual choice lets you customize aspects of your career path, your educational opportunities and your benefits. And our culture of innovation means your ideas on how to improve our business will be heard. As key contributors to our success, our team members enjoy working in a business casual, collaborative environment that offers state-of-the-art resources, advanced technologies and an excellent benefits package!

If you’re looking for a career that transforms, inspires, challenges, and rewards you, then come join us!

Verisk Analytics is a global supplier of risk assessment services and decision analytics for customers in a variety of markets, including insurance, healthcare, financial services, supply chain, and others. At Verisk, you’ll be part of an organization that’s committed to serving the long-term interests of our stakeholders, including the communities where we operate.

The ISO unit of Verisk is looking for an Analyst to Senior Actuarial Analyst. ISO is comprised of multiple divisions that utilize actuarial talent. Several of these divisions are detailed below.

The Analytical Data Management (ADM) division is ISO's data refinery, ensuring that ISO's analytical engines are properly fueled. As an analyst in ADM you will help our customers provide quality data, so ISO can provide them quality products. You will apply actuarial, data science and analytical skills, as well as big data technology, with the purpose of building innovative, automated processes for enhancing data quality. You will seek to improve your understanding of property casualty insurance through work experience, CAS, CPCU, and/or IDMA studies. You will strive to help our team operate efficiently through centralization and standardization of processes, and you will work proactively to address our customers' questions and concerns about data quality.

The Actuarial Operations (AO) division is responsible for providing actuarial services for all lines of business, and you will be involved in a variety of production and special projects. Depending on your experience, you will be expected to possess or develop a broad set of skills to allow you to participate on several teams and projects, and the ability to handle different types of projects. Also, you will be requested to look for efficiencies and enhancements to actuarial and business processes.

The Data Engineering & Analytics Lab (DEAL) is responsible for the design and implementation of our core data-systems including data ingestion, data integration, data transformation, data analysis, and analytic dataset construction. We are an innovation group that is charged with visualizing the future of our organization’s operations and leveraging our expertise in data, technology, P&C insurance, and process optimization to provide a first-class analytics ecosystem to our data-collection, data-management, actuarial, and data-analytics colleagues.

The Data Products (DP) division is responsible for producing and enhancing property and casualty insurance based data products for one or more lines of business. You will also capitalize on the power of ISO databases to develop reports in response to customized data requests. In this role, you will utilize your technical/computer skills to support new product initiatives involving data and analysis to fulfill insurer information needs. In fulfilling your responsibilities, you will work with cutting-edge technology, i.e., Greenplum Computing Servers, SQL, and data visualization software. You will be tasked with reviewing data for reasonableness and assist in the preparation of promotional materials related to new data products developed by the Data Products division. You must be able to perform other duties as assigned. You need to collaborate well with others, have excellent communication skills and be comfortable providing feedback. We want someone with creativity, high energy and high standards.

The Regulatory & Contractual Reporting Division (RCR) is responsible for preparing data reviews, regulatory filings and compilations in a timely and accurate manner for submission to state insurance departments and ISO affiliates. Do you like working with data? Does the idea of working with intelligent, team oriented individuals excite you? Our analysts deal with data; data management and data analysis. You will have the opportunity to utilize your skills in Excel and use complicated, yet useful tools like SQL and VBA. We expect your communication skills are a part of the balance you bring to the table because responding to questions from customers (internal and external) and regulators on filings, circulars and other ISO products may be a part of your day to day job. However, it’s not just about what we do. It’s about what you do that can help us be a better company. We will look to you to do research and provide your findings into how we can improve our processes and procedures.


Job Description
  • Prepare products for regulators and internal & external customers in a timely and accurate manner. Products may include loss cost reviews, filings, circulars, annual statistical filings, and customized data products to meet customer needs.
  • Work on other projects such as class plan reviews, territorial reviews, regulatory reports and fulfilling contractual obligations.
  • Writing and running computer programs to extract data for review and report compilation.
  • Review the quality of data submitted by insurance companies both on transactional and aggregate levels.
  • Develop more efficient, automated ways to improve processing including data quality and error detection processes. This can include providing suggestions for improvements in ratemaking and data quality review procedures.
  • Help respond to questions from regulators and insurers on filings, circulars and other products.
  • Contact ISO’s insurer customers and other organizations regarding the reasonableness of reported data.
  • Make actuarial and data management presentations to Insurer Panels, insurers who report data to us and ISO users of data.
  • Collaborate with other ISO divisions (actuarial, analytical and technology) on improving data, products and procedures.
  • Become a subject matter expert on one or more lines of property-casualty insurance business
  • Perform other duties as assigned.

#LI-MC1


Qualifications
  • Graduate or Bachelor's degree with a major in Mathematics, Data Science, Statistics, Economics, Risk Management, Operational Research or related discipline.
  • 1-3 years of Property-Casualty insurance work experience preferred.
  • Passing of at least one actuarial exam is preferred.
  • Data management skills or knowledge of insurance data management principles is a plus.
  • Experience in quantitative and qualitative data analysis.
  • Some familiarity with insurance coverages, actuarial methodologies and quality control.
  • Technical background should include a working knowledge of MS Office applications and understanding of computer programming concepts.
  • Knowledge of SQL, SAS, R, ETL tools or Business Rules Engines is a plus
  • Background experience in Tableau, Spotfire, COGNOS, or other data visualization software would be advantageous.
  • Strong written and oral communication skills.
  • Ability to work independently and as part of a team.
  • Ability to work under time constraints, multi-task, and adjust plans in the face of changing priorities.
  • Continued desire and ability to learn.
  • Ability to perform essential job duties with or without reasonable accommodation.

You will be part of a culture that celebrates success, recognizes and rewards achievements and excellence, encourages experimentation and learning from failure, and provides personal and professional enrichment opportunities.

If this opportunity looks exciting and challenging to you, please submit your application by hitting “Submit Now”.

We offer a competitive salary, benefits package which includes full health care options, a 401(k) plan, and generous Paid-Time-Off.

Visit our website at www.verisk.com to learn more about our company. All members of the Verisk Analytics Family of Companies are equal opportunity employers.

All members of the Verisk Analytics Family of Companies are equal opportunity employers. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, or any other legally protected classification.


Additional Information


ISO, a Verisk business, has been a leading source of information about property/casualty insurance risk since 1971. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. To learn more about ISO please visit us at: www.verisk.com/iso. We are proud to be a part of the Verisk family of companies!

At the heart of what we do is help clients mnage risk. Verisk (Nasdaq: VRSK) provides data and insights to our customers in insurance, energy and the financial services markets so they can make faster and more informed decisions.

Our global team uses AI, machine learning, automation, and other emerging technologies to collect and analyze billions of records. We provide advanced decision-support to prevent credit, lending, and cyber risks. In addition, we monitor and advise companies on complex global matters such as climate change, catastrophes, and geopolitical issues.

But why we do our work is what sets us apart. It stems from a commitment to making the world better, safer and stronger.

It’s the reason Verisk is part of the UN Global Compact sustainability initiative. It’s why we made a commitment to balancing 100 percent of our carbon emissions. It’s the aim of our “returnship” program for experienced professionals rejoining the workforce after time away. And, it’s what drives our annual Innovation Day, where we identify our next first-to-market innovations to solve our customers’ problems.

At its core, Verisk uses data to minimize risk and maximize value. But far bigger, is why we do what we do.

At Verisk you can build an exciting career with meaningful work; create positive and lasting impact on business; and find the support, coaching, and training you need to advance your career. We have received the Great Place to Work® Certification for the fifth consecutive year. We’ve been recognized by Forbes as a World’s Best Employer and a Best Employer for Women, testaments to our culture of engagement and the value we place on an inclusive and diverse workforce. Verisk’s Statement on Racial Equity and Diversity supports our commitment to these values and affecting positive and lasting change in the communities where we live and work.

Verisk Analytics is an equal opportunity employer.

All members of the Verisk Analytics family of companies are equal opportunity employers. We consider all qualified applicants for employment without regard to race, religion, color, national origin, citizenship, sex, gender identity and/or expression, sexual orientation, veteran's status, age or disability.

http://www.verisk.com/careers.html

Unsolicited resumes sent to Verisk, including unsolicited resumes sent to a Verisk business mailing address, fax machine or email address, or directly to Verisk employees, will be considered Verisk property. Verisk will NOT pay a fee for any placement resulting from the receipt of an unsolicited resume.

Consumer Privacy Notice

At Verisk, the health and safety of our people is our number one priority. Effective November 15, 2021, and subject to applicable law, all prospective hires for office based roles or roles that support any of our businesses’ government contracts will be required to demonstrate that they are fully vaccinated against COVID-19 by their start date, or qualify for a legally-required medical or religious accommodation to this vaccination requirement, as a condition of employment. Hired candidates who do not demonstrate that they are fully vaccinated against COVID-19 by their start date, and who have not been approved for a legally-required medical or religious accommodation will no longer meet the requirements for employment and their offers of employment will be immediately rescinded, in accordance with applicable law.

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