Associate Actuary

2 weeks ago

Worcester, Massachusetts, United States The Hanover Insurance Group Full time

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.

Our Specialty Actuarial department is seeking an Associate Actuary to join our growing team in Worcester, MA Corporate Headquarters or remote.

POSITION SUMMARY:

This position will play a lead role in the Hanover Professional Liability actuarial practice, including driving pricing segmentation, portfolio management, planning, and product development. This profitable $200 million business unit contains a diverse suite of E&O products: Accountants, Architects & Engineers, Lawyers, and Miscellaneous Professionals. This position reports to the Actuarial Director of Professional Lines.

This is a highly visible position, working closely with both the Professional Liability leadership team, Claims, Product, Finance, and the broader actuarial and analytics community.

This is a Full-time, Exempt role.

IN THIS ROLE, YOU WILL:

  • Lead analysis in support of overall pricing strategy including continued advancements in segmentation of new and renewal pricing
  • Proactively manage the profitability of the business through regular state of the line analysis as well as segmented profitability reviews
  • Play a critical role in the actuarial planning process, including IBNR forecasting, trend analysis, and rate actions
  • Balance influencing and negotiating skills with thoughtful collaboration to achieve the most appropriate actions to achieve sustainable profitable growth
  • Pursue opportunities leveraging internal and external data to drive continual improvement of pricing
  • Remain nimble in working with the unique aspects that come with pricing and monitoring programmatic business
  • Prepare or assist in the preparation of filing exhibits and system specifications to implement required rate actions
WHAT YOU NEED TO APPLY:
  • Bachelor's Degree or higher in a relevant technical field
  • Five or more years of technical experience in multiple LOB and/or actuarial disciplines such as pricing, reserving or advanced analytics.
  • ACAS designation or higher or relevant work experience. Pursuit of FCAS professional designation preferred.
  • Advanced communication skills, ability to communicate and influence both technical and non-technical audiences
  • Advanced skills using Microsoft Office, including Excel
  • Possesses a detailed understanding of the data sources used within the core discipline.
  • Understands fundamental concepts, practices and procedures relevant to core actuarial discipline.
  • Intermediate programming skills, including the ability to develop and automate processes
  • Able to apply and interpret company policies and procedures
  • Applies project management skills to schedule, organize and complete assigned tasks accurately and on time
Key Competencies:
  • Have a Growth Mindset - Embraces a creative approach and a changing environment. Seeks to improve processes, constantly seek to learn, apply new techniques, challenge others and themselves to find a better way
  • Relationship Building - Understands the importance of developing and maintaining cooperative relationships with others at all levels of the organization by making others feel their concerns and contributions are important. Builds positive relationships with others to accomplish organizational goals.
  • Influence Others - Communicates ideas or positions in a persuasive manner that build support, agreement, or commitment. Takes actions that directly or indirectly influence others to create buy-in, gain trust, and motivate actions in others or win concessions without damaging relationships.
  • Be Results Orientated - Excited by challenging goals and a desire to exceed standards of excellence. Exceeding the standard can include challenging personal goals, organization's standards, or current industry standards. Exhibits a true sense of competitiveness and a drive for results. Has a strong desire to win in the most challenging of circumstances and the fortitude to take calculated risks to achieve personal objectives and goals, organization's standards, or current industry standards.
  • Be Decisive - Makes decisions by quickly assessing the scope of an issue and providing options leading to its closure. Determines appropriate options based on the situation.
CAREER DEVELOPMENT:

It's not just a job, it's a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you - at every level - to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you'll enjoy what you do and have the support you need to succeed.

Benefits include:
  • Medical, dental, vision, life, and disability insurance
  • 401K with a company match
  • Tuition reimbursement
  • PTO
  • Company paid holidays
  • Flexible work arrangements
  • Cultural Awareness Day in support of IDE
  • On-site medical/wellness center (Worcester only)
  • Click here for the full list of Benefits
EEO statement:

The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law."

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: and include the link of the job posting in which you are interested.

Privacy Policy:

To view our privacy policy and online privacy statement, click here.

Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here

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