What are the responsibilities and job description for the Senior Actuarial Analyst position at MGIC?
Why work at MGIC?
Are you someone who wants to play a critical role in our company’s success? Do you enjoy solving puzzles and finding a better way to get things done? Are you someone who likes to Take The Lead and make an impact? If so, then imagine yourself at MGIC. At MGIC we are a team of dedicated professionals on a fearless mission. A team that fosters a culture of career development and continuous learning opportunities to help you rise to new heights. We are passionate about providing outstanding customer service and making a difference in our community. #WeAreMGIC
How will you make an impact?
Build and apply analytic structure and pricing models to develop indicated pricing. Create recommendations for future development, focusing on meeting corporate standards and evaluating impact. Assist the Senior Director, Pricing to communicate the “what” and “why” of pricing changes to senior leadership.
Note to all recruitment agencies:
MGIC does not accept unsolicited agency resumes. Any unsolicited resumes sent to MGIC, directly or indirectly, will be considered MGIC property. MGIC is not responsible for any agency fees associated with unsolicited resumes. A recruiting agency must have a valid, written and fully executed agency agreement to assist with a requisition.
Are you someone who wants to play a critical role in our company’s success? Do you enjoy solving puzzles and finding a better way to get things done? Are you someone who likes to Take The Lead and make an impact? If so, then imagine yourself at MGIC. At MGIC we are a team of dedicated professionals on a fearless mission. A team that fosters a culture of career development and continuous learning opportunities to help you rise to new heights. We are passionate about providing outstanding customer service and making a difference in our community. #WeAreMGIC
How will you make an impact?
Build and apply analytic structure and pricing models to develop indicated pricing. Create recommendations for future development, focusing on meeting corporate standards and evaluating impact. Assist the Senior Director, Pricing to communicate the “what” and “why” of pricing changes to senior leadership.
- Build new models and analytic structure (and improve existing models and analytic structure) to contribute to the development of indicating pricing.
- Measure market response to price changes across segments
- Responsible for analysis and understanding of correlations between risk characteristics and the implications to pricing
- Apply existing models and analytic structure to recommend changes to pricing.
- Plan or participate in the planning of complex key business projects. Establishes scope and objectives, and develops the strategy for completion.
- Gather data and conduct research on various factors impacting MGIC's pricing policies and practices. Review information and determine effective methods to organize data for analysis, modeling, and reporting purposes.
- Analyze components of pricing indications for further refinement and appropriate reflection of available data. Make recommendations to management for changes regarding specific segments of pricing models.
- May lead program and project implementation and make significant contributions to departmental goals and planning efforts.
- Make recommendations to management regarding rate analysis and process improvements
- Maintain accurate documentation on analyses performed
- Responsible for organizing and maintaining file structures related to actuarial analyses
- Engage with other teams regarding model development and pricing needs as well as pricing results
- Work within and outside of the pricing department to integrate enterprise risk management into pricing
- As a more senior member of the pricing department, mentor and support coworkers in pricing
- Understanding of insurance rate-making and financial analysis
- Fully proficient in Microsoft Excel and programming languages (e.g., SAS, R, Python, SQL, etc.)
- Take a new perspective on existing solutions, work independently and receive minimal guidance.
- Act as a resource for colleagues with less experience.
- Advanced expertise in actuarial analyses across multiple areas, techniques and procedures
- Ability to tell a story visually using tools such as Tableau or Excel
- Probability and simulation methods
- Residential mortgage industry and role of mortgage insurance
- Mortgage analytics models and approaches
- Reinsurance and financial enterprise risk management
- Project management principles
- Demonstrated ability to communicate sensitive information clearly, both verbally and in writing
- Completion of a bachelor’s degree with emphasis in finance, economics or math
- Completion of (or material progress towards) actuarial credentials in the Society of Actuaries, Casualty Actuarial Society, or other recognized actuarial organization. Alternative education applicable to insurance pricing, such as MBA, will also be considered
- Competitive Salary & pay-for-performance bonus
- Financial Benefits (401k with company match, profit sharing, HSA, wellness program)
- On-site Fitness Center and classes (corporate office)
- Paid-time off and paid company holidays
- Business casual dress
Note to all recruitment agencies:
MGIC does not accept unsolicited agency resumes. Any unsolicited resumes sent to MGIC, directly or indirectly, will be considered MGIC property. MGIC is not responsible for any agency fees associated with unsolicited resumes. A recruiting agency must have a valid, written and fully executed agency agreement to assist with a requisition.
