What are the responsibilities and job description for the Financial Analyst, Actuarial Insurance position at DOWC?
About Us
Dealer Owned Warranty Company LLC is a leading provider of F&I (Finance and Insurance) partnership services in the automotive industry, offering a full suite of obligor and administrator services, top-of-the-line products, technology, and training. We understand the importance of leveraging process and technology in the F&I industry to drive revenue and ensure success. Our goal is to provide visibility, transparency, and the tools needed for our partners to build their wealth and achieve their goals. DOWC prides itself on taking care of its employees (We were voted one of the "Best Places to Work" two years in a row!), and we also offer award-winning products. All of our positions are fully on-site in Parsippany, NJ - Kindly do not apply if you need a remote position at this time.
Job Description:
We are seeking a Financial Analyst focused on Actuarial Insurance Performance to analyze and improve the performance of our insurance portfolios. This role provides the opportunity to work closely with the CFO and insurance finance leadership, directly impacting our company's performance.
Key Responsibilities:
- Loss Ratio Analysis & Reporting: Conduct weekly or bi-weekly high loss ratio analysis and present actionable recommendations, such as reserve adjustments, product changes, or coverage modifications. Present findings to executive leadership.
- Runoff Calculations: Manage runoff calculations for mature portfolios.
- Monthly Review Contribution: Prepare a monthly report comparing expected vs. actual loss ratios for the business review.
- Rate Card Updates: Update rate cards based on portfolio analysis.
- Documentation: Maintain organized work papers for each review.
- Performance Monitoring: Continuously explore trends and improve future analyses.
Required Skills and Experience:
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, Finance, or a related field required.
- Strong math and statistical analysis for insurance risk.
- Proficiency in financial reporting and data communication.
- Highly organized and able to manage routine and ad hoc analysis.
- Progress toward actuarial exams (SOA or CAS) is preferred but not required.
- Additional qualifications such as CFA, CPA, CMA or FRM certifications are a plus and indicate valuable financial and risk management expertise.
- Ability to work independently and collaboratively
- Excellent written and verbal communication, must be able to deliver data-driven presentations to leadership
Physical Requirements
- Prolonged periods of sitting at a desk and working on a computer
- Must be able to lift up to 15 pounds
Come join our growing team here in Parsippany! As NJ's Best Places to Work Honoree for two years in a row, we offer:
- Competitive compensation
- Medical, Dental, Vision, 401k matching, Life Insurance, Medical Expense Card
- PTO and Sick Time
- Corporate events, team and culture building activities, employee awards and recognition, company trips and more!
DOWC is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected Veteran status, sexual orientation, gender identity, gender expression, genetic information, or any other characteristic protected by law. Applicants who require accommodation to participate in the job application process may contact us for assistance.
