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Associate Actuary
Associate ActuaryThe Auto Club Group • Dearborn, MI, United States
Associate Actuary

Associate Actuary

The Auto Club Group • Dearborn, MI, United States
3 days ago
Job type
  • Full-time
Job description

It's a great time to join AAA The Auto Club Group!

JOIN THE TEAM COMMITTED TO DRIVING YOUR CAREER FORWARD

Job Type : Full time

Exempt / Non Exempt :

Salary

Job Description :

Associate Actuary - The Auto Club Group

What you will do :

Coordinates and participates in the development of ultimates for current or new property / casualty insurance coverage and products. Coordinates and executes quarterly ultimate analyses to ensure reserves are adequate, not excessive or unfairly discriminatory, and internally consistent with experience. Leads department efforts in the research, design and implementation of new actuarial business and project plans. Reviews industry reserve trends and provides feedback. Provides support to other areas in the interpretation of reserving data. Represents the finance department on internal and external project teams, task forces and meetings. Performs inflation and tail factor analysis. Prepares and presents information and recommendations to Senior Leaders, internal and external audiences.

Participates in the preparation and actuarial review of underwriting, pricing / product, and claims information. Reviews and analyzes recommendations for improving methods, analysis and data gathering techniques used by the actuarial reserving team. Assesses the impact of assigned projects / initiatives on the organization in terms of underwriting, claims, marketing, pricing / product and other business areas. Keeps current on new legislation / requirements. Provides recommendations to management regarding changes to product design or reserving structure and follow-up on system modifications. Prepares budget estimates and projections for review and ensures resources are adequate to support current and planned goals and objectives.

Supervisory :

  • Participates in the department process related to the selection, hiring, training, and development, coaching and counseling of assigned staff.

How you will benefit :

Associate Actuary will earn a competitive salary of $140,000 - $170,000 annually with annual bonus potential based on performance.

Excellent and comprehensive benefits packages are just another reason to work for the Auto Club Group. Benefits include :

  • 401k Match
  • Medical
  • Dental
  • Vision
  • PTO
  • Paid Holidays
  • Tuition Reimbursement
  • We're looking for candidates who :

    Required Qualifications :

    Education :

  • Bachelor's degree in Mathematics, Actuarial Science, Statistics or a related field
  • Designation of Fellow of the Casualty Actuarial Society and six years of experience in an actuarial environment
  • Maintain eligibility in the Actuarial Professional Development Program following department guidelines
  • Experience in six or more of the following :

  • Calculating reserves
  • Calculating tail factors on long tail lines
  • Calculating stochastic reserves
  • Formulating and interpreting mathematical models
  • Completing actuarial research relating to insurance operations
  • Preparing quarterly rate indications
  • Preparing property and casualty rate filings
  • Preparing competitive product and rate comparison analysis reports
  • Pricing property and casualty insurance products
  • Extensive experience :

  • Coordination and execution of projects
  • Managing actuarial students
  • Use of statistical tools and software applications to complete assignments
  • Preparing reports and exhibits for management review
  • Analysis of technical studies and data and draw sound conclusions
  • Knowledge and Skills :

    Knowledge of :

  • Insurance terminology, techniques, and concepts
  • Actuarial methods and principals to obtain indications, complete projects, analyze results and make recommendations
  • Extensive knowledge of personal lines insurance industry and competitors' product offering
  • Extensive knowledge of insurance industry trends and competitive environment
  • Demonstrated skills in :

  • Preparation / presentation of material
  • Managing workflow to achieve multiple goals
  • Working individually and as part of a team
  • Improving efficiency and effectiveness of the team
  • Researching and mastering a new area or approach, e.g. statistical software, insurance system, etc.
  • Ability to :

  • Make oral presentations to business units
  • Represent the department on inter-department teams
  • Ability to manage and train Actuarial staff in the following :
  • analysis of premium, claim, expense and economic data

  • completion of management reports, rate filings and pricing analysis
  • Preferred Qualifications :

  • Master or Doctoral Degree in Mathematics, Actuarial Science, Statistics or related field
  • Extensive experience in personal lines Property and Casualty with specific focus on actuarial reserving or research
  • Work Environment

    This is a hybrid work arrangement (time spent in office and remote). Depending on the employee's role and leadership's assessment, some employees will come in to an ACG facility on a weekly basis, a monthly basis, or on an "as needed" basis for key meetings and collaborative activities. Most employees will be required to come into the office, at a minimum, for important departmental meetings or team building events.

    Who We Are

    Become a part of something bigger.

    The Auto Club Group (ACG) provides membership, travel, insurance, and financial service offerings to approximately 14+ million members and customers across 14 states and 2 U.S. territories through AAA, Meemic, and Fremont brands. ACG belongs to the national AAA federation and is the second largest AAA club in North America.

    By continuing to invest in more advanced technology, pursuing innovative products, and hiring a highly skilled workforce, AAA continues to build upon its heritage of providing quality service and helping our members enjoy life's journey through insurance, travel, financial services, and roadside assistance.

    And when you join our team, one of the first things you'll notice is that same, whole-hearted, enthusiastic advocacy for each other.

    We have positions available for every walk of life! AAA prides itself on creating an inclusive and welcoming environment of diverse backgrounds, experiences, and viewpoints, realizing our differences make us stronger.

    To learn more about AAA The Auto Club Group visit www.aaa.com

    Important Note :

    ACG's Compensation philosophy is to provide a market-competitive structure of fair, equitable and performance-based pay to attract and retain excellent talent that will enable ACG to meet its short and long-term goals. ACG utilizes a geographic pay differential as part of the base salary compensation program. Pay ranges outlined in this posting are based on the various ranges within the geographic areas which ACG operates. Salary at time of offer is determined based on these and other factors as associated with the job and job level.

    The above statements describe the principal and essential functions, but not all functions that may be inherent in the job. This job requires the ability to perform duties contained in the job description for this position, including, but not limited to, the above requirements. Reasonable accommodations will be made for otherwise qualified applicants, as needed, to enable them to fulfill these requirements.

    The Auto Club Group, and all its affiliated companies, is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity, sexual orientation, national origin, disability or protected veteran status.

    Regular and reliable attendance is essential for the function of this job.

    AAA The Auto Club Group is committed to providing a safe workplace. Every applicant offered employment within The Auto Club Group will be required to consent to a background and drug screen based on the requirements of the position.

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    Associate Actuary • Dearborn, MI, United States

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