Pricing Actuary/Modeler, Commercial Lines id-21635
Pay Philosophy
The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.
Description
The Global Risk Solutions (GRS) Capital & Analytics group is seeking a highly motivated individual to join its Insurance Risk Parameterization & Analytics team. This individual will manage a small team of modelers responsible for designing, developing, and implementing dynamic UW Risk modeling and analysis for the Global Risk Solutions organization. They will support UW Risk parameterization, modeling, and validation as well as wide-ranging uses of the models. The successful candidate will have strong analytical abilities, enjoy developing statistical models and processes, working with large data sets, and diving deep into drivers of line of business dynamics.
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Global Risk Solutions is a leading provider of commercial, specialty insurance, and reinsurance products, delivering a wide array of innovative products, deep technical expertise, strong client engagement and market-leading performance worldwide. The product lines include workers' compensation, commercial multi-peril, surety bonds, crisis management, marine, terrorism, management liability, cyber liability, and energy.
Responsibilities
Collaborate with other team members to achieve the following with the goals:
?? Parameterize UW Risk excluding natural catastrophe risk
?? Build and maintaining UW risk models
?? Develop new solutions and improvements for statistical models and processes used to calculate these inputs
?? Implement timely and practical solutions to complex problems
?? Validate model parameterization and model function
?? Collaborate with Underwriting and Actuarial to understand the business and guide development of Risk Analytic tools that accurately reflect the business
Additional Responsibilities: ?? Regularly update model parameters and assumptions for multiple models ?? Develop new solutions and improvements for statistical models and processes used to calculate these inputs ?? Implement timely and practical solutions to complex problems ?? Lead collaborative projects with Finance, Reserving, Pricing, and Underwriting with the goal of better understanding the business and reflect that understanding in model parameters ?? Communicate processes and parameterization results to stakeholders outside the team ?? Prepare actuarial research and complex reports and projects present findings and recommendations. ?? Provide clear and concise communication of technical actuarial work to technical and non-technical audiences, and on cross functional teams. ?? Maintain clear and concise documentation of methods and activities. ?? Interact with and provide actuarial technical assistance and information to peers, senior managers, and others within and outside of the organization.
Qualifications
?? Bachelor's degree required; Master's degree preferred.
?? Associateship or Fellowship in the Casualty Actuarial Society (ACAS/FCAS) or in Society of Actuaries (ASA/FSA) designation preferred or comparable education/designation with relevant experience.
?? Minimum 5-7 years relevant experience required.
?? Very strong analytical skills with solid understanding of core casualty actuarial methods, techniques, and standards
?? Comfort with solving new problems and generating ideas for improving existing processes
?? Experience communicating analysis and technical concepts
Preferred Qualifications: ?? Expert in MS Excel and experience coding; Experience working with Visual Basic for Applications (VBA) and Capital modeling software, R, and Python preferred ?? Experience with stochastic financial modeling and forecasting preferred ?? Experience parameterizing reserve risk and UW risk preferred
About Us
As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers. Through strong relationships, comprehensive benefits and continuous learning opportunities, we seek to create an environment where employees can succeed, both professionally and personally.
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
We are proud to support a diverse, equitable and inclusive workplace, where all employees feel a sense of community, belonging and can do their best work. Our seven Employee Resource Groups (ERGs) offer a centralized, open space to bring employees and allies together to connect, learn and engage.
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
