What are the responsibilities and job description for the Reserving Actuary position at Central Mutual Insurance Company?
Location: Hybrid Work Model- Van Wert or Dublin, OH
We are a team of employees who are passionate to deliver best in class customer service and innovation in the industry. It’s because we put Integrity, Relationships and Excellence in all aspects of our work.
Our employees have the opportunity to fully utilize their talents and bring their best self. We believe that who you are is just as important as what you do!
As a Reserving Actuary, you'll have the opportunity to join an close knit team that is focused on helping Central's commitment to excellence by applying your knowledge and insights to reserving and statistical analyses. In the Corporate Reserving department, you will help implement future enhancements to the reserves processes, data feeds, and other data evaluations.
How You’ll Make an Impact
Prepare loss reserve analyses for assigned portfolio segments. Make sound selections, provide justification for selections/assumptions, review corresponding data/model preparations, and provide insights on trends, shifts in mix, and other driving forces behind loss development
Conceptualize exhibits in support of loss reserve analyses and execute on design, build, and clear communication of exhibits.
Assist in the preparation of exhibits in support of loss reserving and corporate reporting analysis tasks
Assist with the Loss Reserve Committee including presenting information, evaluating findings, and advising on the impacts of actions being proposed
Lead the preparation of the actuarial portions of assigned corporate reports & initiatives.
Lead the preparation of statutory requests and oversee the responses to questions raised by the various insurance entities
Lead data query efforts with analysts by clearly articulating the purpose, assumptions, hypothesis, and known intricacies
Conceptualize tools in support of the monitoring and execution of Central’s loss reserving and profitability strategy and serve as the lead in the design, build, and execution of tools/diagnostics.
Monitor correspondence of the Actuarial Department and other business units to evaluate their impact on loss reserving and corporate profitability and to verify consistency of related actuarial work products.
Complete peer review as well as review of Sr.Analyst/Analyst work to ensure quality of work products
Form relationship with internal business units to understand various corporate initiatives and their impacts on the book of business. Incorporate insights gained into ongoing reserve analyses
Train others on reserving/reporting analysis tasks
Lead the continuous improvement of Actuarial processes and procedures based on industry trends and best practices in collaboration with Sr. Analysts and the Research and Development Actuarial team
Support the preparation of communication with Central leadership, as well as external stakeholders and vendors
Ownership of any ad hoc projects as assigned by the business
Ownership of special projects as requested.
What You’ll Bring
ACAS/FCAS Designation
Master’s degree in Mathematics, Actuarial science, Statistics, Analytics field and 2 years of experience in an actuarial position
Or Bachelor’s degree in Mathematics, Actuarial science, Statistics, Analytics field and 4 years of experience in an actuarial position
Or 6 years of experience in an actuarial position
Possesses analytical and problem-solving skills
Strong math skills
Solid knowledge of actuarial techniques and standards, as well as other business operations including financial, claims, underwriting, and legal
Possesses excellent communication and presentation skills
Possesses multi-tasking and prioritization skills
Ability to understand Central Insurance’s policies and processes
Preferred
Strong skills with programming languages such as SQL, Python, R, SAS, and VBA