What are the responsibilities and job description for the Actuary position at Berkley?
Company Details:
Berkley Specialty Excess, a W. R. Berkley Company, is a wholesale-dedicated excess and surplus lines commercial insurance carrier. We specialize in underwriting difficult-to-place moderate to high-risk commercial business looking for creative solutions to new and unusual complex Environmental and Energy risks
Company URL: https://www.berkleyse.com/
The company is an equal opportunity employer.
Responsibilities:
Berkley Specialty Excess, a W. R. Berkley Company, is a wholesale-dedicated excess and surplus lines commercial insurance carrier. We specialize in underwriting difficult-to-place moderate to high-risk commercial business looking for creative solutions to new and unusual complex Environmental and Energy risks
Company URL: https://www.berkleyse.com/
The company is an equal opportunity employer.
The Actuary will assist the Chief Actuary in both pricing and reserving capacities. This role involves the development and maintenance of rating algorithms and software, the construction and interpretation of loss triangles, and the timely delivery of actuarial reports and regular corporate or statutory reports.
- Perform actuarial analyses including price monitoring, claims trend, exposure profiling, profitability, etc.
- Develop and test risk pricing software, experience raters, and other actuarial tools.
- Update rating variables through experience and industry studies.
- Assess rate changes and communicate impacts to underwriters.
- Conduct scheduled and ad hoc loss ratio studies.
- Create and maintain claims and expense development triangles to diagnose the book.
- Provide support in quarterly analysis and reports.
- Support WRBC in year-end loss reserve opinion and documentation as required for the annual statement.
- Assist and support the Finance Department and WRBC in Schedule P preparation and other reserve areas.
- Participate in the planning/budget process preparation.
- Ability to travel, as needed.
- Perform other support duties as assigned.
- Bachelor’s degree in Business, Finance, Actuarial Science, data science, or a related field.
- A passing mark on at least five actuarial exams.
- Minimum of (5 years) work experience within the property/casualty insurance industry with exposure to rate-making and reserving.
- Critical thinker.
- Excellent analytical and problem-solving abilities.
- Self-starter with ability to prioritize heavy workload and escalate tasks that might be falling behind.
- Comfortable using any quantitative programming language (Excel, VBA, R, Python, SQL, SAS, MATLAB).
- Familiarity with any business insights software (including Shiny, Power BI, Tableau, Markdown, etc.).
- Unafraid to learn and use new programming languages in two weeks or less.
- Ability to transform data into actionable insights.
- Exceptional communication and interpersonal skills.
- High level of integrity and dependability with a strong sense of urgency and results-orientation.
- Technical proficiency is required.
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Additional Company Details: We do not accept any unsolicited resumes from external recruiting agencies or firms. The company offers a competitive compensation plan and robust benefits package for full time regular employees. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. Sponsorship Details: Sponsorship not Offered for this Role
