Who we are

American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.

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 actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG’s major regulated and rated insurance operating companies globally. Our 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 lead the Private Client Group’s (PCG) Actuarial Reserving team.  The Director will be responsible for working with the pricing, accounting, and finance teams to develop quarterly reserve estimates and support the quarterly closing process.  This role will report into the Head of Actuarial, Private Client Group.

Candidate must have skills to work within a team while contributing directly in select areas as needed.  Background in reserving, reinsurance, Lloyd’s syndicates, and Solvency II is strongly preferred.  Familiarity with personal lines & homeowners is a plus.  As part of the larger PCG Actuarial team, the actuary is expected to work seamlessly with the PCG pricing and modeling team.  The role also partners with Accounting, Finance, Data and IT.  

What you need to know:

• Make informed reserving recommendations based on the results of the reserve valuation reviews and actual versus expected results
• Strive for ongoing improvements in methods used for reserving.   Encourage creative solutions to business and technical issues
• Support the reporting needs for Lloyd’s based syndicates
• Drive improvement in data acquisition and data quality for delivery to external stakeholders  
• Develop detailed documentation of all procedures
• As part of the annual plan, develop initial plan loss ratio recommendations, quantify the impact of underwriting actions, and change in business mix, and assist the business in executing on the business plan.
• Ensure appropriate controls are in place for the reserving process, support and be the point person for Actuarial for the annual audit reviews, independent reserve reviews, internal audit and SOX reviews for North America Specialty products.
• Direct process improvements weighting cost and benefit to reduce manual work efforts and improve efficiency and accuracy
• Train staff on reserving and actuarial methods and impart knowledge of personal lines and PCG business
• Encourage a culture that promotes collaboration, diversity, and inclusion
• Support and make recommendations for a professional development strategic approach that provides broader actuarial and insurance exposure to the team
• Think ahead and focus on longer term future exploring new technologies, techniques, and methodologies to maintain a high level of learning and to encourage curiosity

What we’re looking for:

The candidate should possess strong technical and business expertise with the ability to build sustainable, collaborative relationships, influence business stakeholders, and lead, motivate and gain commitment from key constituents.

Additional requirements include:

• Associate or Fellow of the Casualty Actuarial Society with 8+ years of actuarial experience, preferably in professional lines and multifunctional areas (pricing, reserving, data, analytics).
• Experience leading complex projects across multiple teams.
• Exceptional communication skills, including ability to develop and present clear and concise analysis and recommendations to senior management.
• Proven ability to dissect complex business issues, perform research and analysis, and synthesize conclusions into a value-maximizing strategy.
• Willing and able to continuously learn and adapt in a dynamic and fast changing environment.
• Ability to dive into technical and execution level details, do hands-on work, connect the dots while thinking strategically and serve as strong thought partner of cross functional leaders
• Comprehensive awareness of the business, regulatory environment, competitors, market cycle, technology and legislative trends
• Timeliness and attention to detail is critical.

For positions based in NYC, the base salary range is $115,000--$170,000. 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

American International Group, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its policies and procedures reflect this commitment. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories such as sexual orientation. At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.

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.

Functional Area:

AC - Actuarial

Estimated Travel Percentage (%):  No Travel

Relocation Provided:  No

AIG PC Global Services, Inc.