Actuary

Pharmacists Mutual has an opening for an Actuary. This role applies analytical skills and actuarial methods to quantify risk and financial consequences. Assists Chief Actuary with identification of financial inefficiencies and applies problem-solving skills to optimize the use of member resources.

Actuary I

• Assist in the analysis of risk quantification.
• Utilize actuarial methods with direction to create analysis of financial information.
• Support the development of outcomes which optimize member experiences.

Actuary II

• Assist in the development of risk quantification solutions.
• Utilize actuarial methods to create analysis of financial information.
• Support the development of outcomes which optimize member experiences.
• Train others on actuarial skills and methods.

Senior Actuary

• Assist Chief Actuary in identifying financial inefficiencies and developing actuarial solutions to risk quantification issues.
• Utilize actuarial methods to analyze financial information.
• Provide recommendations resulting from actuarial analysis.
• Develop outcomes which optimize member experiences.
• Train, mentor and coach others in actuarial skills and methods.

Essential Functions

Essential functions may include, but are not limited to the following:

• Designs, develops, and maintains rate and pricing models to optimize competitive advantage and support corporate objectives.
• Coordinates Catastrophe Modeling efforts including data compilation, validation, and presentation.
• Completes data requests related to reinsurance renewal efforts.
• Maintains and updates ceded premium allocation models to support internal financial statements.
• Develops and implements cash projection analysis.
• Coordinates Capital Modeling efforts to support Enterprise Risk Management objectives.
• Assists Chief Actuary with development of reserving models and analysis of company booked reserves.
• Completes other actuarial studies as assigned.
• Ability to apply theoretical solutions to real-world problems.

Knowledge, Skills and Abilities

• Knowledge of PhMIC products and pricing.
• Understand principles and practices of insurance underwriting.
• Interpret premium algorithms and coverage nuances.
• General understanding of insurance accounting and Company financial statements.
• Communicate effectively with others (oral and written).
• Analyze complex issues and make critical decisions.
• Maintain records, prepare reports and conduct correspondence related to the work.
• Interpret and apply laws, rules and regulations, as well as complex policy and contract coverage.
• Obtain and use sensitive information discreetly and objectively, both internal and external.
• Determine when to escalate concerns to the appropriate level of management.
• Follow oral and written directions.
• Correct English usage, spelling, grammar, vocabulary and punctuation.
• Work effectively with others in a team environment.
• Contribute effectively to the accomplishment of team or work unit goals, objectives and activities.
• Establish and maintain effective working relationships with those contacted in the course of work.
• Excellent customer service skills.
• Ability to organize and prioritize work.
• Work independently and demonstrate drive and initiative.
• Ability to handle multiple tasks at once.
• Meet definite deadlines and deal with pressure situations.
• Collect, interpret, and input data efficiently and accurately.
• Use computer and related software effectively.
• Adhere to the relevant standards of practice and professional conduct as promulgated by the American Academy of Actuaries and the Casualty Actuarial Society.

Experience and Education Qualifications

Actuary I

• Bachelor’s Degree and 3 years of related experience; or
• Master’s Degree

Actuary II

• Bachelor’s Degree and 5 years of related experience; or
• Master’s Degree and 2 years of related experience

Senior Actuary

• Bachelor’s degree and 8 years of related experience; or
• Master’s Degree and 5 years of related experience

Special Requirements, Licenses and Certificates

• One of the following industry related certifications: ACAS(Associate of the Casualty Actuarial Society) designation or ASA (Associate of the Society of Actuaries) credential in General Insurance, or FCAS(Fellow of the Casualty Actuarial Society) designation or FSA (Fellow of the Society of Actuaries) credential in General Insurance
• Adherence to the Code of Professional Conduct of the Casualty Actuarial Society (CAS) is expected even if employee is not a member of CAS.

In addition to a competitive salary, eligible employees may receive an annual discretionary bonus and access to our benefits package including:

• Health, Dental, Vision & Life coverage
• 401(k) with Company Match
• Paid Time Off
• 8 Paid Holidays
• Volunteer Time Off
• Paid Parental Leave
• Hybrid/Remote Work Options
• Employee Assistance Program
• Tuition Reimbursement

Pharmacists Mutual Insurance Group is an Equal Opportunity Employer.