Actuarial Analyst II

$62,750 - $92,000/Yr

Standard Life - Portland, OR

Full-time - Entry Level

Portland, OR

About the position

At The Standard, you'll join a team focused on putting our customers first. Our continued success is driven by a high-performance culture. We're looking for people who are collaborative, accountable, creative, agile and are driven by a passion for doing what's right - across the company and in our local communities. We offer a caring culture where you can make a real difference, every day. Ready to reach your highest potential? Let's work together. We are currently seeking a talented Actuarial Analyst to join the Employee Benefits pricing team. In this role, you will apply pricing and underwriting guidelines as defined by actuarial teams for new and existing business. You will develop and apply a working knowledge of business capabilities to inform underwriting decision-making and summarize and report underwriting activities. Additionally, you will support product filing efforts with state insurance regulatory agencies and analyze the concentration of risk on our block of business to design appropriate reinsurance solutions. You will work closely with product development actuaries to facilitate analysis and escalate items related to risk-taking in the business. Maintaining metrics regarding pricing for new business and pricing changes for existing business will also be part of your responsibilities. Utilizing your knowledge of our products, data, and systems, you will create and support reports and tools used throughout the organization. Building strong business knowledge of our products and processes will enable you to support multiple areas of the company, including Benefits, Underwriting, and Corporate Actuarial, as well as our external reinsurance partners. You will respond to ad-hoc requests for data and analysis with clarity and urgency, anticipating customer needs. Promoting a culture of continuous improvement by identifying and implementing ways to enhance and streamline our processes will be essential. You will document existing processes along with ideas for refinements and improvements and support process transformation work being undertaken across actuarial areas.

Responsibilities

• Apply pricing and underwriting guidelines as defined by actuarial teams for new and existing business.
• Develop and apply working knowledge of business capabilities to inform underwriting decision-making and summarize and report underwriting activities.
• Support product filing efforts with state insurance regulatory agencies.
• Analyze the concentration of risk on our block of business to design appropriate reinsurance solutions.
• Work with product development actuaries to facilitate analysis and escalate items related to risk-taking in the business.
• Maintain metrics regarding pricing for new business and pricing changes for existing business.
• Utilize knowledge of our products, data and systems to create and support reports and tools used throughout the organization.
• Build strong business knowledge of our products and processes in order to support multiple areas of the company, including Benefits, Underwriting and Corporate Actuarial as well as our external reinsurance partners.
• Respond to ad-hoc requests for data and analysis with clarity and urgency, anticipating customer needs.
• Promote a culture of continuous improvement by identifying and implementing ways to enhance and streamline our processes.
• Document existing processes along with ideas for refinements and improvements.
• Support process transformation work being undertaken across actuarial areas.

Requirements

• Associate's degree required, Bachelor's degree preferred.
• Minimum 2 years experience, or the equivalent combination of education/experience.
• Proficient with MS Excel and experienced in operating calculation systems which may include business tools, actuarial systems, and custom applications.
• Knowledge of process scripting or robotics, process analysis and ability to design and produce customized reports.
• Experience working with large data sets and maintaining and troubleshooting tools developed in SAS Enterprise Guide or similar platform such as Power BI, Dataiku or Databricks.
• Working knowledge of processes and deliverables as well as the key drivers of the actuarial department and division and how this role impacts operations and results.

Nice-to-haves

• Experience in the insurance industry.
• Familiarity with regulatory requirements for insurance products.
• Strong analytical and problem-solving skills.

Benefits

• A rich benefits package including a 401(k) plan with matching company contributions.
• An annual incentive bonus plan.
• Generous paid time off.
• A supportive and responsive management approach.
• Opportunities for career growth and advancement.
• Paid time off to volunteer.
• An employee giving program that double matches your donations to eligible nonprofits and schools.
• Comprehensive benefits including medical, dental, vision and retirement benefits.
• Initial PTO accrual of 164 hours per year.
• 11 paid holidays and 2 wellness days per year.