Actuarial Support Analyst

Summary: Under general supervision and with independent judgment, provides administrative and technical support to actuarial staff by preparing and analyzing statistical information to be used in actuarial computations, coordinates actuarial research, performs systems updates, maintains financial forecasts; revises rates for various lines of business and prepares filing memoranda to obtain insurance department approval; aids in designing and pricing of new products or rate plans; by performing the following duties:

Essential Duties And Responsibilities

• Provides support to actuarial staff, including:
• Maintains an intermediate knowledge level of insurance products, accounting principles, databases, and simple programming techniques
• Prepares and analyzes statistical information for actuarial computations
• Trends premiums to future collection levels using regression and other actuarial techniques
• Performs routine systems updates
• Assists in providing quantitative support in product development, financial analysis, management reporting, and other actuarial research, by applying advanced statistical concepts and computer tools.
• Maintains basic knowledge in computer technology, programming languages, software tools, and modeling.
• Extracts and integrates simple data from various databases to analyze and develop reports and spreadsheets.
• Revises rates for assigned lines of business, including:
• Researches and gathers rate information from various internal/external sources, including industry data, internal reports, competitors.
• Analyzes historical data and rate change data
• Calculates final rates
• Validates rate tables and rating algorithms
• Develops and recommends independent rating variables and independent rating plans
• Develops rate recommendations and presentations for assigned lines of business, including:
• Develops exhibit such as rate experience, rate impact, etc.
• Coordinates and/or participates in meetings to review rate recommendations
• Documents decisions made regarding rate changes
• Prepares filing memoranda for state insurance department approval to:
• Implement changes in rating manual pages
• Create memos and exhibits necessary for the submission of rate filings
• Performs other duties as assigned.
  
  

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education/Experience

Level 5: Bachelor’s degree (B.A.) from four-year college or university; zero to two examinations completed and/or enrolled level designation from The Casualty Actuarial Society, four to six years related experience and/or training; or equivalent combination of education and experience.

A minimum requirement for this position is the ability to work legally in the United States. No visa sponsorship/support is available for this position, including for any type of U.S. permanent residency (green card) process.

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