Under general direction, conducts actuarial analysis for various lines of business to estimate financial outcomes. Applies knowledge of mathematics, probability, statistics, principles of finance, and business to the assigned line of business.
Relying on advanced experience and judgment, the Staff Specialist Actuary is accountable for accomplishing the following responsibilities and has substantial latitude for actions or decisions made without review and acts independently under general direction.
Oversee the achievement of the actuarial functions of the company, including establishing reserve requirements for financial statements, pricing methodologies, basic premium structure, and experience rating formulas.
Support underwriters by analyzing prior losses, projecting expected losses, impact of alternative arrangements on pricing and training in use of actuarial rating tools.
Provide senior management with concise, up-to-date, and easy-to-understand reports to assist in providing direction for the business.
Develop and maintain a rating and pricing manual(s) for the company. Recommendations for adjustments reviewed with Senior Management.
Provide financial input regarding pricing, loss ratios, and expenses in connection with budget projections for future operating periods.
Analyze claim and premium data to generate actuarial-based projections on company's business. Various reports include monthly triangulation reports, average rate increase, updates to various contract ultimate loss ratio projections, early loss ratio projection model, and earned premium accrual report.Planning
Develop work plans, establish timelines, and set goals for assigned work including special projects or assignments.
Assign resources as needed.
Meet commitments on deadlines.Communication
Communicate project or assignment results and recommendations to all levels, internally and externally.Cost Management
Drive innovation by improving existing business processes and developing new processes.
Perform work thoroughly in a cost-efficient manner and at a high productivity level.
Responsible for developing and accountable for project budgets.Business Controls and Policies
Comply with all corporate policies and procedures.
Report any breakdown in controls to management.
Conduct all activities in a safe manner.
Ensure all the above are followed by assigned project team members.People Management
Does not generally have people management responsibility but may lead or direct special projects.
May assist with the review and evaluation of personnel.
Bachelor's degree in Actuarial Science, Mathematics, Statistics, a related field, or the equivalent education and/or experience
Attainment of the Fellow of the Society of Actuaries (FAS) certification
Minimum of eight years of relevant and progressive experience
Minimum of five years of insurance industry experience in the specific business line of responsibility
Possess and have ability to apply advanced knowledge of principles, practices, and procedures
Excellent written and verbal communications skills with an emphasis on confidentiality, tact, and diplomacy
Superior organizational and analytical skills; demonstrated ability to manage multiple tasks/projects simultaneously
Knowledgeable of industry changes, legal updates, and technical developments related to applicable area of the Company's business to proactively respond to changing business environment
Advanced proficiency and experience using Microsoft Office package (Excel, Access, PowerPoint, Word)
Working Conditions and Physical Demands:
Overtime hours may be required to fulfill job responsibilities
May require travel outside normal work location
May require a valid driver's license
May be required to stoop, bend, or sit for extended periods of time
May be required to lift up to 10 pounds
Dexterity of hands and fingers to operate a computer keyboard, mouse, and other devices
Close vision and ability to adjust focus; required to read a computer screen
Note: This document is intended to describe the general nature and level of work being performed, and is not to be construed as an exhaustive list of all responsibilities, duties, and skills required for the job.
HCC Life Insurance