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Senior Actuarial Analyst, Lexington Casualty

Who we are

Who we are American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets and manage risks. We’re also committed to making a positive difference for our colleagues and in the communities where we work and live. We encourage colleagues to give back to the causes they care most about, supporting these efforts through our Volunteer Time Off and Matching Grants Programs.

Get to know the business

General Insurance is a leading provider of insurance products and services for commercial and personal insurance customers. It includes one of the world’s most far-reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.

As an actuary at AIG, you will be challenged and encouraged to reach your greatest potential. Every day will bring new opportunities to stretch your analytical and problem-solving skills as you improve how we predict and mitigate risk. Our Financial Actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG’s major regulated and rated insurance operating companies globally. Portfolio Analytics and Pricing Actuaries support AIG’s businesses and are responsible for technical pricing, product development analytics and performance measurement. They collaborate with Marketing, Operations and Financial Management. ​

About the Role

We are seeking an actuarial professional with industry expertise to assist with the Lexington Casualty business.  The Actuary will be responsible for providing reserving and financial reporting support to the Lexington Casualty profit center.  The position involves the analysis of the reserves needed for various classes of casualty business such as general liability, auto liability, excess casualty, and construction defect.  Additional duties include assisting with the production of the Schedule P and other related annual statement exhibits, other statutory quarterly statements and management reporting information for the GAAP and Statutory financials.  They will partner with other actuaries in implementing best practices, analytical techniques and assessing the impact of loss trends and claims emergence. 

Key Responsibilities:

• Perform Lexington Casualty annual reserve studies, including complex/non-standard lines of business such as Construction Defect, to determine the adequacy of loss and loss expense reserves
• Provide actuarial support for quarterly closings and year-end financial reporting process
• Responsible for timely and accurate analysis of loss reserves and accurate booking of the appropriate IBNR
• Complete Sarbanes-Oxley documentation in accordance with appropriate standards
• Collaborate with data team to drive process improvement and achieve Actuarial transformation goals
• Interact with outside regulators and auditors to provide technical and professional information and guidance
• Partner with pricing actuaries to provide timely, accurate and actionable feedback on business performance
• Communicate with and advise senior management, as well as underwriters, comptrollers, claims, or legal departments. 
• Keep aware of emerging issues affecting commercial product lines and adjusts analysis as appropriate.
• Work effectively as part of a team and train junior staff in order to achieve financial, strategic and operational objectives

Qualifications:

• BS in Actuarial Science, Mathematics, Statistics, or related area
• ACAS or near ACAS designation
• 5+ years of experience in commercial casualty reserving preferred
• Strong analytical and problem-solving skills
• Work well both independently and as part of a team
• Proficiency in Excel and SQL required; Experience with SAS, Python, R, or other programming languages preferred
• Strong business and collaboration skills and responsive to service needs and operational demands
• Effective time management skill
• Excellent communication, presentation, and interpersonal skills
• Customer focus

For positions based in NYC, the base salary range is $102,000-$128,000. For positions based in Jersey City, NJ, the base salary range is $90,000-$120,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. We’re proud to offer a range of competitive benefits, a summary of which can be viewed here: AIG Benefits Overview.

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A look at our Benefits

We're proud to offer a range of employee benefits and resources that help you protect what matters most - your health care, savings, financial protection and wellbeing. We provide a variety of leaves for personal, health, family and military needs. For example, our "Giving Back" program allows you to take up to 16 hours a year to volunteer in your community. Our global mental health and wellness days off provide all colleagues with a paid day off to focus on their mental health and wellbeing.

We also believe in fostering our colleagues' development and offer a range of learning opportunities for colleagues to hone their professional skills to position themselves for the next steps of their careers. We have a tuition reimbursement program for eligible colleagues to enhance their education, skills, and knowledge in areas that relate to their current position or future positions to which they may transfer or progress.

We are an Equal Opportunity Employer

To learn more please visit: https://www.aig.com/about-us/diversity-equity-and-inclusion

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities.  If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to candidatecare@aig.com.   Reasonable accommodations will be determined on a case-by-case basis.