Senior Actuarial Analyst, Reserving & Loss Analytics (P&C) – Middle Market

Job Summary

Arch Insurance Group, part of Arch Capital Ltd, is a specialty insurer built around talent intensive businesses. We prioritize niche focus, underwriting expertise, flexibility, diversification and disciplined cycle management. We work creatively to provide new value and solutions to our clients and distribution partners. Arch highly values actuaries and actuarial expertise. Many senior executives and business unit leaders are actuaries by training.

Arch Insurance Company is seeking a motivated actuarial candidate to join a dynamic reserving and loss analytics team. This position will be a part of the team that oversees the Middle Market Business Divisions. Reserving-related engagements account for the majority of the role, with the remainder dealing with claim analytics engagements, profitability studies, and financial reporting.

This position will require application of the latest actuarial approaches to ensure appropriate reserve adequacy and reporting, as well as innovative thinking to help drive newly developed strategic vision and leverage available data, industry information, foundational analytics for critical decision making, and help with development of analytical tools and insights.

The ideal candidate will have strong analytical, technical and communication skills, be committed to developing strong business acumen, and most importantly, will work well in a team environment in close partnership with Pricing Actuarial, Underwriting, Claim, IT, Finance, and other functions.

This position offers a challenging role, opportunities for growth and advancement, a competitive compensation package, solid benefits, in a dynamic and forward-looking actuarial team.

Job Responsibilities

The following duties and responsibilities are expected in this position:

• Assist with the Arch Quarterly Reserving process (i.e. Arch reserve analyses and reports, including discussions with claims, underwriters, finance, senior management, and outside consultants and auditors)
• Assist with and/or lead the development of new reserving techniques, as well as new ways to access and examine the data while leveraging external and internal information, and helping improve and expand visuals to support findings and provide insight to senior management.
• Partner with IT and Enterprise Data teams to bring efficiencies to and modernize our current data processes as well as enhance analytical capabilities
• Assist with and/or lead quarterly in-depth analysis for several business divisions, the discussions around assumptions and uncertainty, including presentation to executives, development of ongoing forecast process together with input on trend and plan projections
• Collaborate closely with business division leaders, pricing actuarial, and claims to identify loss trends and emerging issues that could impact results and assist in developing proposals for corrective action in a timely manner
• Assist in developing a discussion supporting the quarterly result and the drivers behind it
• Assist with developing tools, metrics, dashboards to inform and support the quarterly results and drivers behind it
• Assist with GAAP and SAP Financial Reporting (e.g. actuarial opinions, actuarial reports, statutory statements, and 10-Q/K reporting)
• Assist with Quarterly Underwriting Year, NPV, and ROE analyses as needed.

Experience and Requirements

The successful candidate will have the following requirements:

• Prior experience in a corporate or business unit reserving function required.
• Additional experience in pricing or reserving for Commercial Professional and/or Financial lines - Executive Assurance, Professional Liability, Healthcare, or Surety is strongly preferred.
• Demonstrated ability to exchange ideas and convey complex information clearly and concisely, both verbal and in writing.
• Demonstrated programming skills (such as SQL, R or Python) required.
• Ability to lead projects and get work done in collaboration with others.
• Ability to establish and build effective relationships within the organization.
• Experience presenting results / findings to senior management a plus.
• A direct and transparent communicator. Knows how and when to keep others informed. Courage to have open and difficult discussions.
• A critical thinker who will challenge others in a respectful manner and will be open to being challenged.
• An individual who is a quick self-study and has the ability to multi-task.
• A detail-oriented person who can be committed to both quality as well as accuracy
• Working knowledge of industry data sources (ISO, NCCI, RAA, SAA), with an acute understanding of the strengths and weaknesses of the various industry and peer competitor data emanating from the various data collection and aggregation procedures employed by the various bureaus is a plus.
• An understanding and appreciation of the peaks and valleys in the work flow required of a dynamic reserving and loss analytics function that combines both corporate reserving responsibility as well as insight driven reserving studies.

Qualifications

• ACAS preferred (will consider non-ACAS with strong prior experience)
• 5+ years of experience
• Reserving experience is strongly preferred
• Strong technical programming skills - such as SQL, R, Python or similar required.

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For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.

$100,000 - $150,000/year

• Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.

14400 Arch Insurance Group Inc.