What are the responsibilities and job description for the Actuarial Associate position at Marsh & McLennan Companies, Inc.?
Company : Marsh
Description :
Marsh USA LLC is seeking candidates for the following position based in the New York, NY office (A telecommuting / hybrid work schedule may be permitted within a commutable distance from the worksite, in accordance with company policies.) :
Actuarial Associate
We will count on you to :
Help establish and implement new, market-leading analytics-based tools to assess and mitigate risk. Perform a variety of basic financial and statistical analyses. Analyze different types of Property & Casualty risks, including, but not limited to, Liability, Property, Cyber, Directors and Officers. Utilize actuarial and Monte Carlo techniques to model risks and evaluate insurance coverages available to clients. Research economic factors. Perform actuarial analysis of client's key risk drivers to assess the cost / benefit of different insurance options. Consult with clients on issues that may be unclear to them and implement actionable insights to analyze and mitigate risk. Support Marsh USA sales and client service - both brokerage and consulting - through presentation of results to clients, explanation or methodology, and analysis of alternative solutions to support need for data driven insights.
What you need to have :
Must have a Master's degree or foreign equivalent in Actuarial Science, Mathematics, Statistics, or a related field plus one (1) year of experience in the position offered or a related position. Alternatively, employer will accept a Bachelor's degree or foreign equivalent in Actuarial Science, Mathematics, Statistics, or a related field plus three (3) years of experience in the position offered or a related position. Must have one (1) year (or three [3] years with a Bachelor's) of experience with all of the following : Cleaning, analyzing, and mining data to derive actionable insights in an insurance-related context, including applying actuarial techniques of loss development, trending, and credibility weighting into the analysis; Building, reviewing, and maintaining complex actuarial models, including loss or premium calculations using loss modeling tools, statistical models, and spreadsheet applications; Working cross-functionally with IT, Underwriting, Finance, and / or clients to turn raw data into meaningful outputs and produce presentations to deliver these insights; Using actuarial analyses to conduct industry and peer benchmark research, define trends, and draw conclusions; Using Microsoft Office, including Visual Basic for Applications (VBA) in Excel to assess risk and perform insurance and risk related analyses via actuarial and / or stochastic modeling; Assessing the cost-benefit of various business strategies to drive optimal results while incorporating economic and risk appetite related considerations through the use of statistical and actuarial modeling.
The applicable base salary range for this role is $126,277 - $135,500 per year.
The base pay offered will be determined on factors such as experience, skills, training, location, certifications, and education. Decisions will be determined on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives.
We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.
LI-DNI
Marsh, a business of Marsh McLennan (NYSE : MMC), is the world's top insurance broker and risk advisor. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses : Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $23 billion and more than 85,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit marsh.com, or follow on LinkedIn and X.
Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex / gender, sexual orientation or expression, skin color, veteran status (including protected veterans), or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting reasonableaccommodations@mmc.com.
Salary : $126,277 - $135,500
