Hybrid schedule onsite in Webster, MA, Boston, MA or within a commutable distance on occasion. Can also be remote, Eastern or Central time preferred.
The Actuary III develops actuarial analyses in accordance with CAS (Casualty Actuarial Society) principles. These analyses will directly contribute to the overall performance of the actuarial area, and positively impact other departments across the organization and the results of the company. The analyses typically rely upon complex processes, with the potential to change in connection with the organization's needs. The Actuary III acts as the SME (subject matter expert) for the actuarial analyses, detailing inputs, and conclusions to others in the organization.
Knowledge and Experience
• 5-7 years of experience or equivalent related knowledge
• 5+ CAS exams passed
• Thorough knowledge of insurance operations and regulation
• Experience carrying out complicated quantitative analyses
• Demonstrated capability to modify and/or innovate new processes
• Actuarial, analytical, and coding expertise
• Developing and implementing methodology or process improvements
• Completing complex analyses independently
• Effectively progressing on multiple long-term projects simultaneously
• Proposing actions based on the results of an analysis
• 3+ years of experience in supporting at least 1 of the following areas of the business:
PL / CL Product / Underwriting
Market Pricing
Claims
Actuarial - Reserving
Education: Bachelor's Degree or professional level of knowledge in a specialized field, or equivalent related experience
Responsibilities
Develops and performs pricing and/or reserving analysis for selected property and casualty insurance products offered by MAPFRE Insurance. Such analyses may include:
- Analyses and recommendations relative to the pricing of new or revised coverages, and relative to potential structural changes in product pricing (class plans, amount of insurance relativity curves, etc.)
- Expert-level understanding and analysis of the components of actuarially sound rates and/or reserving methodologies, applied to a variety of contexts
- Preparing the impacts of rate changes and non-rate actions using competitiveness analyses, retention and elasticity models, and business projections
- Ad hoc analyses on difficult questions and new challenges
Mastery over Actuary II skills
Collaborates with senior management to ensure the analyses are interpreted correctly and appropriate action is taken.
Stays up to date on industry trends and methods
Proposes new actuarial analyses that would add value to the organization.
Makes decisions related to a wide variety of situations. Interprets guidelines and procedures, applying judgment and discretion.
Provides training and guidance to less experienced staff, as well as leads them in team projects.
Retrieves and manipulates complex data
Pursues exams on the CAS syllabus.
The advanced knowledge is in a field of science or learning customarily acquired by a prolonged course of specialized intellectual instruction.
If you require an accommodation for a disability so that you may participate in the selection process, you are encouraged to contact the MAPFRE Insurance Talent Acquisition team at talentacquisition@mapfreusa.com.
We are proud to be an equal opportunity employer.