Berkley

Actuarial Analyst

Location Name IL, Chicago - 550 W Jackson Blvd - 5th Floor
ID
2021-5728
Date Posted
4 months ago(9/7/2021 6:58 PM)
Company
WRBC Support Services
Primary Location
US-IL-Chicago
Loc2
IL, Naperville
Loc3
IA, Urbandale - 11201 Douglas Avenue
Loc4
GA, Atlanta - 2 Ravinia Drive - Suite 1000
Loc5
MN, Minneapolis - 222 S 9th Street - Suite 2500
Loc6
TX, Irving - 222 Las Colinas Boulevard W
Category
Actuarial

Company Details

WRBC_logo_Update

 

"Our Company provides a state of predictability which allows brokers and agents to act with confidence."

 

Founded in 1967, W. R. Berkley Corporation has grown from a small investment management firm into one of the largest commercial lines property and casualty insurers in the United States.

 

Along the way, we’ve been listed on the New York Stock Exchange, seen our revenue soar well past $7 billion, and become a well-respected Fortune 500 Company.

 

Today, the Berkley brand comprises 53 Berkley companies worldwide. Still managed by our Executive Chairman, founder and largest shareholder, W. R. Berkley Corporation is well-positioned to respond to opportunities for future growth.

 

In April 2017, W. R. Berkley Corporation celebrated the 50th anniversary of its founding.

 

Responsibilities

We are seeking a skilled and motivated Actuarial Analyst to work from our downtown Chicago or Naperville office to perform pricing analyses and provide actuarial support for state regulatory filings.

This Actuarial Analyst position is part of the Enterprise Product Support Services (EPSS) organization, which provides product support services for several decentralized operating units within the W.R. Berkley Group. The Actuarial Analyst works closely within an internal team of actuaries, regulatory filing analysts, product managers, data consultants, and policy systems administrators to develop and maintain appropriate pricing and product support on behalf of the supported operating units. This position reports to the Vice President and head actuary of EPSS.

The Actuarial Analyst has an essential role in the state filing process by producing rate indications, actuarial analyses, actuarial memoranda, and actuarial filing forms and applications; by providing measurements of rate change impacts; and by corresponding with regulators.

Preferred candidates are pursuing an actuarial credential (ACAS/FCAS), if not yet attained.

Responsibilities – Primary Duties

  • Provide support for filing of rates and rules of affiliated insurance companies for various commercial lines of business in all U.S. jurisdictions
  • Use traditional ratemaking methods to develop and support indicated rate changes
  • Complete rate change applications, actuarial exhibits, calculation of loss cost multiplier worksheets, and transmittal forms for state regulatory filings
  • In association with others, reform rate/rule manuals and filing documents and formulate responses to address state insurance regulators’ objection letters to rate and rule filings
  • Use various databases and websites to access information from rating bureaus’ manual pages, circulars, and filings, and from affiliated insurance companies’ manuals, filings, and financial statements
  • Use SQL to retrieve company data from relational databases needed for actuarial analyses and reports
  • Analyze rate impacts of rating bureau loss cost / rate changes and prepare recurring reports for operating units
  • Perform research and analysis of rating bureau programs and filings, industry practices, and competitor filings for the development of programs, rating plans, rates, rules, and forms
  • Assist in developing, maintaining, and overseeing various templates, databases, and other technology tools in support of the operations of EPSS and affiliated companies
  • Develop effective working relationships with the internal team of regulatory filing analysts, product managers, data consultants, and policy systems administrators and extended teams of supported operating unit underwriters and actuaries through demonstrated technical expertise, insurance product knowledge and professionalism
  • Conduct actuarial analyses, reports, and presentations as needed

 

Qualifications

Education, Knowledge and Technical Skills

  • Bachelor's degree; preferably in mathematics, statistics, actuarial science, data analytics, or business
  • Minimum 3 years’ experience in actuarial analysis
  • Demonstrated progress with passing CAS actuarial examinations
  • Proficiency with Microsoft Excel and other Microsoft Office applications
  • Proficiency at accessing relational databases / practical skills with SQL
  • Knowledge of actuarial concepts and ratemaking practices and techniques
  • Knowledge of P&C commercial lines insurance coverages (e.g., ISO, NCCI, AAIS products)
  • Knowledge of insurance company operations
  • Knowledge of NAIC Annual Statement
  • Knowledge of U.S. insurance regulatory environment
  • Excellent analytical skills
  • Strong written and verbal communication skills
  • Strong organizational and time management skills
  • Ability to manage multiple projects within deadlines
  • Compliance mindset and attention to detail
  • Ability to think creatively to solve problems
  • Pride of ownership when dispatching assignments with a focus on results

Additional Company Details

The Company is an equal employment opportunity employer.

Additional Requirements

COVID-19 vaccine required unless prohibited by law.

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