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The Senior Pricing Actuary will mainly focus on Reinsurance Treaty pricing along with exposure to reinsurance reserving, Cat modeling, Facultative reinsurance, ERM and other projects.
Note: reinsurance experience is preferred, but not required. Plus, we will consider various levels of experience (up to VP level); and the offer will be commensurate with experience.
This role will be based in our Stamford, CT office (Metro Center, 1 Station Place). We offer a hybrid work schedule with 3 days in the office; and 2 days remote.
Key functions include but are not limited to:
- Independently analyze and price reinsurance submissions and provide recommendations
- Work closely with underwriters to help them understand the conclusions and the key assumptions built into the pricing analysis
- Effectively communicate findings and results to internal and external stakeholders and all levels of management as required
- Present pricing findings to the company President and serve as a key member in the referral process
- Develop, enhance and manage pricing models including updating underlying methodologies, assumptions and parameters to achieve adequate rate levels to meet strategic objectives
- Provide actuarial input into portfolio management, business planning and projections
- Train, mentor and develop junior staff
- Support reserving, financial reporting and management reporting functions as needed
- Lead projects/analyses requiring cross-functional resources including those who are not actuaries
- Assist Chief Actuary with other projects as needed
The Senior Underwriter builds dynamic relationships, maintains a strong distribution channel, drives written premium growth, and maximizes renewal retention while delivering a high degree of customer satisfaction within our footprint of Independent Agencies.
Key functions will include but are not limited to:
- Strengthens relationships and educates agents within agency plant to maximize opportunities and achieve profitable growth.
- Achieves new business premium, renewal premium retention and rate change objectives
- Within company guidelines and granted underwriting authority, evaluates new and renewal information to determines risk acceptability terms/conditions to be quoted, and priced.
- Utilizes various underwriting tools to: determine acceptable risk characteristics; determine accurate exposure classifications; set adequate property limits to accomplish appropriate insurance to value and rate and quote business to agents
- Orders and reviews inspections to confirm accounts written are consistent with preliminary underwriting information and take action when the inspection reveals unacceptable risk characteristics.
- Determines if facultative reinsurance is needed and if so, factors reinsurance cost in gross pricing, completes cession procedures; documents file and follows established workflow procedure to ensure proper reporting / accounting.
Enterprise Product Support Services (EPSS) provides strategic management, administration and coordination of multiple functions required to develop and maintain Berkley businesses’ products. Products include rates, rating rules, rating plans and forms across 51 jurisdictions on an admitted & non-admitted basis.
The Regulatory Project Lead is responsible for planning and overseeing major product development and other EPSS projects. This position collaborates with Regulatory Filing, Product Managers, Actuarial, BTS and other key individuals from Berkley businesses to ensure projects are planned, structured and monitored to develop and implement business critical product needs. This position is also responsible for planning and overseeing EPSS initiatives that improve the services they provide. This role develops project charters, which outline what will be done and why. In addition, this position develops the project plan, which outlines how the project will be done, including determining the key tasks, critical milestones, start and end dates, and the responsibility for each task. This position is responsible for project communication status and leads project team meetings and the coordination of activities across all project participates throughout the project. This position is responsible for overseeing project status, including identifying when projects are off course and working with the project team members to determine and implement corrective actions.
Project Lead responsibilities, include:
• Provide project management for major projects that span cross functional teams and various P&C products.
• Plan, manage and monitor multiple major projects simultaneously.
• Maintain an awareness of potential interdependencies with other projects and their impact.
• Manage project risks, including the development of contingency and corrective action plans.
• Manage project administration and communication.
• Manage people not under direct supervision to achieve project deliverables on time, within budget and in accordance with quality expectations.
• Conduct post project evaluation reviews to assess how well the project was implemented.
• Analyze EPSS product development processes and develop recommendations for improvement; assist with or lead the improvement initiatives.
• Assist the EPSS Leadership team with the implementation of standard project management methodology, processes and tools to improve the delivery and monitoring of all projects.
• Perform other related duties as assigned.
To evaluate (selection and pricing) and maintain (control) risk acceptability and profitability within the company’s underwriting guidelines and procedures for commercial risks with a focus on non-admitted General Liability for middle market construction risks. Manage portfolio by maintaining good Wholesale Broker relationships. Meet and maintain the production, profitability, and service standards established for the company.
- Adhere to underwriting authority level as per on file with Manager.
- Gather underwriting information to properly evaluate commercial risks for acceptability within company guidelines. Underwrite for profit.
- Meet/Exceed production, profitability, and service targets.
- Ability to research and solve more complicated problems and make decisions.
- Determine final coverages and pricing for commercial risks.
- Review claims and loss information on individual risks. Use this information to identify and re-evaluate accounts and develop strategy for dealing with exposures and frequency issues.
- As a team with the Manager, manage the portfolio profitability and identify favorable and unfavorable classes of business.
- Maintain quality and time standards as established.
- Be informed/knowledgeable of industry issues and activities through formal educational processes to develop underwriting skills.
- Identify and cultivate brokers with new business opportunities.
- Assist in the development in junior level underwriting staff with training, mentoring and knowledge transfer
- Perform other duties as assigned.
The Reinsurance Underwriting Account Executive is responsible for underwriting analysis on new and existing casualty treaty, program, and custom turnkey products reinsurance business. You will evaluate books of ceding company business including exposures, pricing structures, rates, terms and conditions, in accordance with corporate reinsurance guidelines and within given authority levels. You will also support management in setting the strategic direction of our assumed reinsurance business. You will develop relationships with a range of ceding company personnel and alternative distribution sources to ensure profitability of our reinsurance portfolio.
This position can be located in any of our offices within the U.S, with a preference for the Midwest/Central regions, working on a hybrid schedule (3 days in the office, 2 days remote)
Key functions include but are not limited to:
Reinsurance Underwriting (50%)
• Evaluate ceding insurance company's financial standing, operational strategy, and industry trends to determine whether to accept the business, and if so, under what terms for renewal and new business
• Perform exposure and experience analysis on renewal business by combining knowledge and experience with available information on ceding insurance companies
• Assess proposed structure, the ceding insurance company`s operations and anticipated hazards, losses, expenses, financial strength, loss experience, and other underwriting considerations
• Evaluate treaty contract and contract language, and manages documentation work flow; ensure the contract outlines the risks, intended coverage, and other fields required specific to the contract within given authority limits
• Complete all required steps on account set up, documentation, and account management
• Strategize and create opportunities within the Insurtech distribution model that support business development and growth
• Network within the insurance industry uncovering new business opportunities for both traditional reinsurance and in-house developed turn-key products such as cyber liability and workplace violence
Account Management (15%)
• Develop and cultivate effective business relationships with assigned ceding companies as well as internal and external clients in order to retain profitable business for our operation
• Meet with clients regarding renewal assumed reinsurance business
• Collect, maintain, develop, and document all underwriting data to the assumed reinsurance portfolio
• Interact with clients and others during pre-renewal season, submission process, audits, and midterm changes for treaty accounts
Project Management (15%)
• Drive collaboration in cross divisional project teams
• Report project team efforts to the stakeholders to assure consistent communication continues among the project team and their sponsors
As our Risk Services Specialist, you'll be a critical part of our business as you survey commercial agribusiness operations and consult with owners, managers, employees, agents and underwriting to determine the type and level of exposures present and controls needed. You'll determine the customer’s ability to control the exposures by gathering information through physical surveys, program audits, loss history analysis, comparison to industry standards and customer interviews. You'll help customers by providing training, mentoring, specialized technical advice and counsel to their staff. And you'll partner with our underwriting teams with risk selection and ongoing account management.
This role will be fully remote/work from home and may be located in Oregon or Washington. #LI-AV1 #LI-Remote
We'll count on you to:
- Utilize your experience and technical expertise to survey large or complex operations which are most often commercial agribusiness properties such as buildings, industrial operations, commercial agribusiness operations and commercial vehicles to evaluate physical conditions, safety practices, and hazardous situations according to knowledge of safety standards, established underwriting guidelines and governmental regulations.
- Observe business operations and management practices to determine safety issues and hazards.
- Analyze history of accidents and claims and inspects scenes of accidents to determine causes and to consult in development of accident prevention programs.
- Measure insured area(s), calculates frontage, records description and amount of stock, and photographs or drafts scale drawings of properties to identify factors affecting risk acceptability and insurance premiums.
- Prepare timely written reports and correspondence of findings and recommendations for risk improvement.
- Consult with insured in regard to activities and programs to control losses and improve safety. Confer with employees of insured, provides informational materials and conducts training as needed to induce compliance with safety standards, codes and regulations.
- Provide training, mentoring, specialized technical advice and counsel to internal staff regarding regulations, hazards and controls associated with area(s) of expertise.
- Maintains knowledge of the industry through association involvement i.e. regulatory standards (OSHA, DOT) and local and national codes (NFPA) through participation in continuing education opportunities
The payroll administrator is responsible for all aspects of payroll processing and preparation in a fast-paced environment for all domestic US employees for multiple Operating Units and states. The Administrator ensures accuracy and efficiency of multi state and multi company payrolls, levels of customer service, data integrity, and calculating special payments (incentives and bonuses) consistent with local, state and federal wage and hour laws.
• Performs all activities necessary to process multiple semi-monthly payrolls, including filing tax reports, processing levies and garnishments, reviewing Workday integration data for accuracy, preparing payroll transactions and preparing special reports
• Proactively identifies areas for process improvement, innovation and opportunities for efficiency and synergy
• Calculates New Hire, Termination and Leave of Absence payroll transactions
• Prepares and processes payroll via Workday Payroll. Responsible for payroll review and coordination of any necessary research or contact with payroll vendor
• Monitors submissions of approved Workday timesheet data
• Processing RSU/Dividend/Deferred Compensation Payments
• Resolving payroll discrepancies, answering questions, and responding to requests for payroll information.
• Working with OSV and ADP to process all required payroll tax amendments as required
• Processing semi-monthly funding and resolution of file errors with Fidelity.
• Processing semi-monthly benefits funding and resolution of file errors
• Effectively and professionally communicates payroll-related matters to all levels of staff and management, including the most senior levels of management
• Ensure company payroll matters are anticipated and addressed in a proactive fashion
• Perform compliance checks on payroll-related matters (against both legal and company policy requirements) and reporting violations
• Employee Self Service administration and login troubleshooting
• Establish/maintain employee records according to policy and in compliance with federal/state/local regulations
• Troubleshooting of Direct Deposit Banking Issues/ACH Rejects
• Provide necessary support to human resources, accounts payable, corporate accounting, and payroll-related and tax-related vendors
• Review and reconcile company payroll invoices as necessary, for accuracy
• Implement and assure compliance with wage and hour laws and company policies related to payroll.
• Providing required KPMG Sox/Audit data.
• Ensure the accuracy, validity, and timeliness of all payroll-related tax filings and tax issuances (such as the annual W-2s).
• Ensure proper quarterly state and earning by state reporting.
• Provide the Workers Compensation Audit detail to our Workers Compensation vendor annually.
• Provide the Annual Finance Economic Census Report Data to the corporate finance team.
• Additional duties as assigned
Production-oriented underwriting position responsible for all aspects of growing and managing a profitable book of excess casualty business. Success comes from a dedication to the underwriting trade and a long-term approach to every aspect of the business, including relationship and risk management discipline.
- Manage and grow a high-quality excess casualty insurance portfolio working through your network of wholesale broker partners.
• Position requires the ability to leverage your network of industry relationships and grow portfolio utilizing Berkley Custom’s proprietary playbook and broad underwriting appetite.
• Ensures the achievement of continued improved profitability, growth and/or operational efficiencies for the portfolio through assessment of risk tolerance, market appetite and emerging risk issues.
• Determines the acceptability, quality and profitability of new and existing business based on company underwriting guidelines and objectives.
• Develop insurance proposals, prepare policies and endorsements, obtain required underwriting approvals where needed.
• Travel to conduct broker marketing meetings and attend industry events as determined by management.
• Contribute to the firmwide development of underwriting operations, marketing plans, product analysis, services, geographic focus and broker intelligence.
• Effectively communicate and collaborate with other leaders with Berkley Custom to broaden knowledge of trends, opportunities, and technical knowledge of pricing.
The Admiral Underwriter will work in a team setting generating, underwriting and analyzing accounts for development of new and renewal Casualty or Professional Lines business. Multiple locations available.
- Compliance with underwriting documentation rules and guidelines.
- Maintain an acceptable underwriting profit.
- Adherence to Admiral underwriting guidelines and referral compliance.
- Development and maintenance of key broker/agent relationships.
- Management and development of new business and broker relationships.
- Participates in all internal company training and continuing education.
- Remains current on product releases as it pertains to Professional or Casualty.
- Stay abreast and knowledgeable on market trends in terms of forms, coverage and appetite to maintain competitiveness.
- Travel: up to 25%
This role is critical in the ongoing development of our overall portfolio and innovating to create new product/solution offerings. Key focus will be on product lifecycle maintenance specifically developing and implementing best practices, underwriting appetites, guidelines, forms, forms usage, terms and conditions, etc.
- Active role in marketing for new product lines of business.
- Provide training and product assistance for all product lines.
- Participates in the identification and development of viable new products.
- Draft policies, endorsements and state amendatory endorsements
- Assist in drafting underwriting rules, manuals and questionnaires
- Assist with underwriting and regulatory Auditing
- Conduct state insurance reg. research as it may relate to licensing, traditional and non-traditional distribution and emerging regulations impacting in-force business
- Perform other duties as assigned.
Handle the daily processing of disbursements for the Companies that we service while providing excellent customer service and maintain a high level of attention to detail.
- Processing of all disbursements for the Companies you are assigned through the invoice workflow system or interface files (claims, premium refunds, commissions).
- Coding of invoices and payment requests in Accounts Payable system.
- Assist with printing of checks and special handling.
- Respond to Company inquiries on payment and invoice submission.
- Provide excellent customer service.
- Verify approval on invoices and payment requests.
- Other duties as assigned.