Senior Actuarial Analyst

2 weeks ago

Chicago, Illinois, United States Allianz Full time
Let's care for tomorrow.

Your ambitions. Your dreams. Your tomorrow.

At Allianz Commercial (AzC), we are the global leader for insuring corporate and specialty risks in the Allianz Group. Whether it's aircraft, satellites, the world's biggest ships and tallest building, cyber-attacks or climate change impacts, AzC has the major risks covered when it comes to protecting businesses.

We are looking for a Senior Actuarial Analyst to be based in our Chicago office.

Your Team

Allianz Commercial (AzC) is a leading global corporate insurance carrier. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business. The North America Distribution team supports large corporate business expansion across North America.

Worldwide, AzC Commercial operates with its own teams in more than 30 countries and through the Allianz Group network and partners in over 200 countries and territories, employing around 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2023, AzC generated a total of €18.0 billion gross premium globally.

The Impact You Will Have

Reporting to the Regional CFO Actuarial function, you will join the team as an experienced professional, ensuring robust reserves are held by doing both independent actuarial analysis and actively collaborating with various stakeholders. You will derive forward looking loss ratio views to inform business steering and quarterly closing. You will be comfortable and confident working with colleagues around the globe and presenting up to C-Suite level. Regular stakeholders will include: underwriting, claims and pricing teams - working together to understand trends, business mix movement and market development and ESG topics.

As a Senior Actuarial Analyst, you will ensure that best in class actuarial methods and techniques are adopted and implemented. Using your experience, you will address new and previously unknown challenges such as inflation impact on reserves.

Some of your specific responsibilities could include:
  • Ensure that adequate loss reserves are estimated for your line(s) of business on IFRS 17 basis.
  • Support the Actuarial Function team in derivation of a normalized loss ratio, and where relevant validate selected and booked NLR via annual reserve reviews.
  • Support the reserving team in monthly closings and contribute to the presentation for the Loss Reserve Committee.
  • Drive innovation and efficiency in all our processes, particularly to improve the quality in forecasts, achieving a high predictability.
  • Peer review work from other team members
What You'll Bring to the Role
  • Minimum 3 years business experience, preferably spanning multiple actuarial areas
  • 3-5 CAS Exams
  • Job specific knowledge with regard to market dynamics, standard concepts and approaches, regulations/compliance standards, reporting requirements (e.g., reinsurance and underwriting knowledge, reserving techniques, data flows, etc.)
  • Finance and Insurance know-how (ideally P&C) as well as a healthy curiosity to understand complexities inherent in an insurance group (consolidation processes, legal vs management view) allowing for cross-departmental thinking and acting
  • Ability to identify patterns and root causes in complex (e.g. ambiguous, from various sources) data and processes to rapidly distil key issues and provide insight in various situations
  • Basic balance sheet understanding on IFRS 4 and IFRS 17 bases, and experience of closing and reporting related topics
  • High level of analytical ability, capable of clearly communicating results and findings in a clear and concise manner
  • Excellent stakeholder management skills, ideally within a global environment.
The annualized base pay range for this role is $ $ The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role, the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

46564 | Actuarial | Professional | Non-Executive | Allianz Commercial | Full-Time | Permanent

What's in it for you?

Let's care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let's care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and 401K.

Let's care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let's care for life's twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

Let's care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial (AzC) is a global corporate insurance carrier and part of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business. Learn more about us by clicking here.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our company culture.

Recruitment Agencies:
AzC has an in-house recruitment team, which focuses on sourcing great candidates directly. AzC does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly.

#LI-DNP #LI-Hybrid

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