Senior Reinsurance Actuary

Are you looking for more than just a job? Do you want to have a voice and feel a sense of belonging? At ICW Group, we hire innovative people who consistently adapt, grow and deliver. We believe in hard work, a fun work environment, and embracing creativity that only comes about when talented people collaborate to develop solutions. Our mission is to create the best insurance experience possible.

Headquartered in San Diego with regional offices located throughout the United States, ICW Group has been named for seven consecutive years as a Top 50 performing P&C company offering the stability of a large, profitable and growing company combined with a small-company entrepreneurial spirit. Our purpose-driven ethos provides team members with opportunities to contribute, develop, and belong.

PURPOSE OF THE JOB

The purpose of this job is to serve as the primary actuary on assigned assumed reinsurance treaties for pricing, reserving and valuation purposes to aid ICW Assumed Re in decision making for maintaining a profitable portfolio. This position exists to support and execute Company strategy as directed by the Head of Assumed Reinsurance, while establishing and upholding department direction, vision, and process. This position is expected to mentor and train other team members on various specific projects.

What You Will Do

Provides complex actuarial analyses and builds capabilities around pricing, reserving and catastrophe modeling.

• Provides technical, actuarial analyses in the areas of pricing, reserving, analytics, and systems integration.
• Evaluates and makes recommendations on the profitability and viability of reinsurance proposals by employing sound actuarial methodologies and analytics along with working closely with the underwriters to understand the exposures and business opportunities.
• Develops and implements new business processes or comprehensive analytic efforts. Modifies processes to improve accuracy and efficiency.
• Ensures that the work product supports business growth, profitability, and innovates our product offering.
• Ensures soundness of actuarial analyses and consistency with Actuarial Standards of Practice.
• Participates in all deal team related tasks such as modeling transactions, negotiating terms with the broker, reviewing contract wording, drafting, and giving clients presentations and performing offsite audits as required.
• Makes actuarial and underwriting presentations both internally and to assumed reinsurance clients
• Takes a prominent role in communicating and explaining actuarial findings to business leaders.
• Performs analysis to inform reinsurance strategy and in support of negotiations with reinsurers.
  
  

Aids in the management of overall risk and catastrophe aggregates.

• Utilizes catastrophe modeling software and other knowledge of general catastrophe modeling to provide analyses of catastrophe aggregates for the in-force assumed portfolio.
• Captures and maintains company exposures over all classes of business and monitors catastrophe losses.
• Extracts key insights from modeled data on an ad-hoc basis to answer specific business questions.
• Invokes critical thought process to solve complex modeling problems and identify dependencies in processes.
  
  

Leads the development of tools/systems to collect data and establish processes to help shape pricing and product strategy and improve positioning.

• Creates and develops tools to ingest cedent submission data into ICW databases for future reference and data mining.
• Establishes repeatable processes for reinsurance pricing to generate consistent analyses.
• Develops and implements methods for automating the process of converting cedent data for use in actuarial analyses.
• Creates, maintains, and modernizes various actuarial internal tools that enable efficient gathering, reporting and presenting data.
• Partners with all team members of Assumed Reinsurance to define and enrich assumed reinsurance underwriting guides to aid in reliable decision-making practices.
  
  

Supervisory Responsibilities

This position may mentor and train other team members.

Education And Experience

Bachelor's degree from four-year college or university required with a major in Applied Mathematics, Computer Science, or related field. Minimum 6 years of related experience and/or training; or equivalent combination of education and experience. Experience with catastrophe modeling software such as RMS and/or AIR is preferred.

CERTIFICATES, LICENSES, REGISTRATIONS

Associate of the Casualty Actuarial Society (ACAS) or Fellow of the Casualty Actuarial Society (FCAS) designation required.

Knowledge And Skills

• Strong interpersonal skills and proven project leadership abilities.
• Thorough knowledge of actuarial models and ability to assess results. Dedication to work toward building a working knowledge of emerging analytic techniques.
• Ability to work independently in deriving solutions to new business problems. Comfortable and competent in client interaction settings.
• Ability to take ownership of actuarial pricing analyses.
• Ability to apply mathematical concepts, standard statistical methods, modeling, and simulation techniques; trend, indexing, cash flow, and financial analysis.
• Thorough knowledge of Microsoft Excel, SQL and related database tools, basic programming, and data mining; and other emerging statistical analytic techniques.
• Ability to grasp analytic concepts and learn new tools and logic within established processes.
• Adaptable to shifting workloads and building positive working relationship within the department.
• Ability to cross-train others and ability to manage and to prioritize concurrent assignments and responsibilities.
  
  

Physical Requirements

Office environment – no specific or unusual physical or environmental demands and employees are regularly required to sit, walk, stand, talk, and hear.

WORK ENVIRONMENT

This position operates in an office environment and requires the frequent use of a computer, telephone, copier, and other standard office equipment.

We are currently not offering employment sponsorship for this opportunity

The current range for this position is

$114,046.39 - $192,331.41

This range is exclusive of fringe benefits and potential bonuses. If hired at ICW Group, your final base salary compensation will be determined by factors unique to each candidate, including experience, education and the location of the role and considers employees performing substantially similar work.

WHY JOIN ICW GROUP?

• Challenging work and the ability to make a difference
• You will have a voice and feel a sense of belonging
• We offer a competitive benefits package, with generous medical, dental, and vision plans as well as 401K retirement plans and company match
• Bonus potential for all positions
• Paid Time Off with an accrual rate of 5.23 hours per pay period (equal to 17 days per year)
• 10 paid holidays throughout the calendar year
• Want to continue learning? We’ll support you 100%
  
  

ICW Group is committed to creating a diverse environment and is proud to be an Equal Opportunity Employer. ICW Group will not discriminate against an applicant or employee on the basis of race, color, religion, national origin, ancestry, sex/gender, age, physical or mental disability, military or veteran status, genetic information, sexual orientation, gender identity, gender expression, marital status, or any other characteristic protected by applicable federal, state or local law.