Actuarial Consultant 1

LOCATION: Westfield Center, OH

SALARY RANGE: $110,837.00-$127,463.00-$144,088.00

BUILD YOUR FUTURE, WHILE PROTECTING THEIRS.

You will be challenged. Rewarded. And valued for your unique experience, background and perspective. 

Join a team where hard work pays off and original thinking is celebrated. As you build your future at Westfield, you will quickly learn that protecting our customer’s future is at the heart of what we do. We deliver on our promise to help restore lives and rebuild businesses when the unexpected happens. Building relationships has been a part of our culture since 1848. 

Be a part of a team that recognizes and appreciates those who take initiative, seek opportunity and strive for innovation in a changing world.

Actuarial Consultant 1 Job Summary

The Actuarial Consultant 1 is a highly technical position that combines actuarial skills with knowledge of the Company’s insurance products and operations. Responsible for directing and/or assisting with complex actuarial projects. The Actuarial Consultant 1 contributes to thought leadership both within the actuarial department and across Westfield. The Actuarial Consultant 1 will focus on an assigned area of responsibility within the Actuarial Department (Pricing, Loss Reserving/Risk Capital, or Research and Development).

Essential Functions (primary functions and/or reasons the job exists in order of importance)

1. Applies highly technical actuarial skills and knowledge along with an extensive understanding of the Company’s insurance products and operations to lead, direct, and/or assist with actuarial projects. Projects will vary in scope and complexity but tend to be complex in nature.

2. Responsible for completing assignments, projects, and research in assigned area of expertise:

* Pricing:

o Develops and advises on design, pricing, and implementation of insurance products.

o Collaborates and strategizes with Underwriting and Product in managing business.

o Compiles, analyzes, and develops rate level indications, proposals, experience reports and other actuarial studies. Uses information in influencing the business to agree to rate and product changes.

* Loss Reserving/Risk Capital/Planning:

o Analyzes loss reserve position quarterly and enhances the quality and efficiency of the reserving process.

o Analyzes risk capital position and capital segment returns, while increasing the efficiency and transparency of the risk capital process.

o Coordinates with Pricing to develop profit targets and with Financial Reporting to facilitate the annual corporate planning process.

o Works with internal business partners (e.g., Claims, Financial Reporting, Investments, Risk Management, Finance Committee, Auditors and appointed Actuary) in support of the company’s operations, objectives, and goals.

* Research and Development:

o Develops actuarial predictive models in support of pricing, underwriting, marketing, and claims functions.

o Collaborates with other functional areas to implement and integrate models into various processes.

o Works directly with external consultants in support of R&D projects.

3. Contributes to thought leadership in the department and across the business.

· Identifies work that needs to be completed, including research, process improvement, and additional analyses.

· Researches and implements innovations and/or improvements to existing analytic processes. Socializes new processes and ideas throughout the department to gain consensus and ensure applicability.

4. Collaborates effectively with internal business partners as needed to support competitive business strategies. Applies understanding of actuarial and business landscape to collaborate with peers and other departments to make decisions that are in the best interest of the company.

5. Serves as peer mentor and subject matter expert to less experienced actuarial analysts in the department.

6. Increases overall actuarial and business acumen of the department by and researching, sharing ideas, offering new solutions.

7. Maintains, expands, and applies knowledge of industry and actuarial trends, market conditions, and competitor information. Shares that information with members of the Actuarial department and other business units for the purpose of making informed decisions.

8. Travels occasionally in order to participate in special assignments, training, and/or travel between office locations.

Desired Qualifications/Experience/Certification/Education (in order of importance)

1. Minimum 7 years of P&C experience.

2. Fellow or Associate of CAS OR commensurate actuarial experience.

3. For Research and Development position: Experience and skill utilizing statistical modeling software such as SAS STAT, SAS Enterprise Miner, SPSS Modeler, R, and Emblem.

4. Excellent written and oral communication skills including the ability to convey advanced concepts to a non-technical audience.

5. Experience and advanced proficiency utilizing Excel (e.g. array formulas, complex multi-tab workbooks, pivot tables, visual basic macros).

6. Experience and skills utilizing programming languages such as SAS, R, SQL, and Visual Basic.

7. Experience collecting and analyzing complex data, identifying trends, establishing facts, and recommending policies and procedures that drive effectiveness and efficiencies.

8. Experience with and advanced knowledge of actuarial techniques including experience with financial analyses, modeling, and risk assessment.

9. Strong project management skills with ability to plan tasks, assign resources, manage progress, and motivate team members across multiple projects

10. Bachelor’s degree in actuarial science, mathematics, or related field or commensurate experience.

11. Valid driver’s license and a driving record that conforms to company standards.

Physical Requirements (specific to the role)

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

* Ability to work effectively in an office environment for 40+ hours per week (including sitting, standing and working on a computer for extended periods of time).

* Ability to communicate effectively in a collaborative work environment utilizing various technologies such as: telephone, computer, web, voice, teleconferencing, e-mail, etc.

* Ability to travel as required.

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.

Westfield offers a Total Rewards program that focuses on compensation, benefits and wellness, and includes perks like 401(k), pension plan, annual incentive, education reimbursement, flex-time, onsite fitness center and casual dress. Work-life balance, recognition, and learning and career development are all part of a rewarding career with Westfield.

To learn more about Westfield and the opportunities available, please visit us at westfieldinsurance.com.

We are an equal opportunity employer/minority/female/disability/protected veteran.