Pricing Analyst

Location: Westfield's operating territory.

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.

 

Pricing Analyst 1 Job Summary

The Pricing Analyst 1, working under close supervision, completes work on projects such as extracting, transforming, and preparing data; performing rating, reserving, or other financial analyses; developing ad hoc reports and other assigned projects of a quantitative / technical nature.

The Pricing Analyst 1 may assist with the following items depending on their area of assignment.

• Providing input on pricing of new and existing products.

• Learning to develop and update management reports and analysis in support of the Actuarial team and other business partners.

• Preparing collateral for defending state filing materials.

• Estimating unpaid loss and loss expense liabilities.

• Providing support to Financial Reporting (e.g. inputs to annual statements).

• Partnering with IT to implement rate and rule changes in rating or policy administration systems.

 

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

• Working under close supervision, completes work on assigned projects. Follows standard processes in assisting with completing the following items in assigned area (e.g. Pricing, Loss Reserving, Research and Development):

  • Providing input on pricing of new and existing products.

  • Learning to develop and update reports and analysis in support of the Actuarial team and other business partners

  • Preparing collateral for defending state filing materials.

  • Estimating unpaid loss and loss expense liabilities.

  • Providing support to Financial Reporting (e.g. inputs to annual statements).

  • Partnering with IT to implement rate and rule changes in rating or policy administration systems.

• Assists in providing potential impacts, options and recommendations to Actuarial leadership and business partners on actuarial matters such as pricing, reserving, modeling or rate implementation.

• Working under close supervision, works on assigned projects of an actuarial or analytical nature under direction of actuarial team members. Completes research, ensures accuracy of calculations and analyses, and meets project deadlines. This requires learning and applying basic actuarial methodologies.

  • For rating systems focused roles:

  • Learning how rating system operates, how to make changes to rates and rating plans and the rate change process.

• Extracts, organizes, and validates data in support of actuarial analysis.

• Learns relevant tools, technologies, and techniques to perform analysis.

• Learns critical thinking skills used in understanding data, business concepts, analytical concepts and/or rating concepts.

• Effectively collaborates on and communicates work products to actuarial staff and business partners.

• Assists in developing management reports that are used to monitor performance, behavior, and results of company goals and objectives.

• Develops and maintains adequate knowledge and awareness of industry activities through reading trade journals and magazines, and through personal contact with other insurance professionals.

 

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

• Bachelor’s degree in mathematics, statistics, computer science or related field or commensurate analytical experience.

• Experience using MS Excel (writing formulas, creating charts and tables, etc.) and MS Word.

• Ability to think analytically and utilize data to support business decisions and solve problems.

• Experience in reporting and basic analytics projects in business or academic environment (e.g., work experience, internship, or academic research).

• Basic understanding of programming languages such as SAS, Python, R, or SQL

• Interest in and ability to expand knowledge and skills related to analytics and data-based decision making.

• Knowledge of financial, statistical, and mathematical concepts used in business analysis.

• Solid written and oral communication skills.

 

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.

#LI-PB1 #LI-Remote

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