Actuary

1 month ago


New York, United States Munich Re Full time
THIS NOTICE IS BEING POSTED IN CONNECTION WITH THE FILING OF AN APPLICATION FOR PERMANENT ALIEN LABOR CERTIFICATION. ANY PERSON MAY PROVIDE DOCUMENTARY EVIDENCE BEARING ON THE APPLICATION TO THE CERTIFYING OFFICER OF THE U.S. DEPARTMENT OF LABOR AT THE FOLLOWING ADDRESS:

U.S. Department of Labor

Employment and Training Administration

Office of Foreign Labor Certification

200 Constitution Avenue NW, Room N-5311

Washington, DC 20210

NOTICE OF FILING

The Hartford Steam Boiler Inspection & Insurance Co. seeks an Actuary for its New York, NY location. Applicants interested in this role must apply through recruiting@munichre.com and reference job code: AS.

Duties: Conduct actuarial analyses for Personal, Commercial, and Specialty products in support of actuarial and underwriting staff. Interact with Underwriting, Finance and modeling departments to assist in enhancing current product offerings. Review products, reports on performance, and make recommendations for changes to rates and produce strategies. Present analyses and recommendations to business partners in Product Management, Finance, Underwriting, Product Strategy. Perform rate analyses on different products to identify areas of rate need and rate redundancy using actuarial and modeling methodologies. Assist regulatory team with filing rates as needed. Perform a shock load analysis to determine what an average level of shock loss might be. Derive a method to apply this load. Build out the rate support for filings (exhibits, memos, objection responses) for various products. Support needs to incorporate state specific filing requirements. Derive CAT loads using different methods, derive the pros and cons of each method and be able to recommend the best approach. Run trainings for both actuarial and non-actuarial staff on advanced actuarial topics. Price out a new product that doesn't exist in the marketplace by using a combination of proxies, indices, internal and external data to come up with a reasonable solution. Write programs and build actuarial tools in excel or other company software. Help manage the work for those who are not direct reports including other actuaries, programmers and support staff, as needed. Provides peer review actuarial and modeling work and provide constructive feedback.

Requirements: Master's degree in Actuarial Science, Statistics, Economics, Finance, Mathematics or closely related quantitative field plus 3 years of work experience performing actuarial duties in the primary and non-traditional reinsurance/alternative industries. Alternatively, will accept Bachelor's degree in same fields plus 5 years of work experience performing actuarial duties in the primary and non-traditional reinsurance/alternative industries. Membership in the Casualty Actuarial Society (ACAS/FCAS) is required. Candidate's prior work experience must include: Applied knowledge of actuarial models, standard actuarial techniques particularly around pricing in the personal and commercial lines markets; Knowledge of client and market dynamics, as well as regulatory requirements; Knowledge of primary and non-traditional reinsurance/alternative market; Performing actuarial analyses; Utilizing actuarial methodologies and actuarial modeling software used for ratemaking, pricing, modeling stochastic distributions or data analysis; Modeling frequency, severity or loss cost to price insurance products; and, presenting analyses and conclusions to business partners. May telecommute but must have the ability to report to the New York, NY office at least 3 times per week. Salary range is from $194,314 to $194,314. 40 hrs/wk; Qualified Applicants must send resumes to recruiting@munichre.com ref: AS. Direct applicants only.
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