Senior Actuarial Analyst

Verisk Analytics - Jersey City, NJ

Full-time - Mid Level

Jersey City, NJ

5,001-10,000 employees

Professional, Scientific, and Technical Services

About the position

As a Senior Actuarial Analyst in the Arium group, part of the Verisk Extreme Event Solutions division, you will play a pivotal role in the development of the insurance industry's leading liability catastrophe modeling solution tailored for the global insurance and reinsurance market. The Arium models are designed to quantify systemic and emerging liability risks that can lead to significant aggregations and clash risks across various portfolios. These risks encompass a wide range of factors, including climate change, economic recessions, and chemical exposures, and span major commercial liability lines such as commercial general liability and professional/management liability lines. Your expertise in actuarial science, modeling, and (re)insurance will directly influence model development and support the rapid growth of this sector within the liability industry. This position is part of the Arium research and analytics team and will be based at the Verisk headquarters in Jersey City, USA. In your day-to-day responsibilities, you will apply actuarial and predictive modeling techniques to enhance the Arium model. This includes developing new trending methodologies and modeling settlements on pending cases. You will serve as the go-to expert for actuarial insights and approaches related to commercial liability lines of business, which will involve conducting technical peer reviews of models and their components. Additionally, you will support the alignment of Arium modeling methodologies with industry best practices and expectations. Your role will also involve providing client services by responding to inquiries and delivering presentations to clients, including insurers, reinsurers, and brokers. Collaboration will be key, as you will work closely with other business units and experts across Verisk, including teams focused on catastrophe modeling and research, as well as actuarial, coverage, and emerging issues research departments within Verisk Underwriting Solutions.

Responsibilities

• Apply actuarial and predictive modeling techniques to enhance the Arium model, including developing new trending methodologies and modeling settlements on pending cases.
• Act as the go-to expert for actuarial insights and approaches for commercial liability lines of business, including technical peer review of models and model components.
• Support alignment of Arium modeling methodologies with best-in-class approaches and insurance industry expectations.
• Support Arium client services through responses to relevant client inquiries and presentations to clients, including insurers, reinsurers, and brokers.
• Collaborate closely with other business units and experts across Verisk, including other catastrophe modeling and research teams in Extreme Event Solutions and actuarial, coverage, and emerging issues research departments within Verisk Underwriting Solutions.

Requirements

• Bachelor's Degree in Mathematics, Economics, Statistics, or other related majors.
• Associate of the CAS (ACAS) or near-ACAS with 5+ Casualty Actuarial Society exams passed.
• Minimum of 5 years industry experience preferred.
• Experience in pricing, reserving, and/or modeling for multiple commercial liability lines, including commercial general liability and professional lines.
• Catastrophe (CAT) modeling experience would be a plus.
• Proficiency in Microsoft Excel.
• Experience with data cleaning and pre-processing.
• Experience in predictive modeling and machine learning using Python or R.
• Strong interest in modeling and data science applications in insurance and risk management.
• Familiarity with SQL would be a plus, as would familiarity with GitHub and Bitbucket, but not required.
• Ability to work independently and as part of a team.
• Strong interpersonal, oral, and written communication skills, including presentation skills.

Nice-to-haves

• Familiarity with SQL would be a plus.
• Familiarity with GitHub and Bitbucket, but not required.

Benefits

• Work flexibility and support for career development.
• Recognition as a Great Place to Work® for outstanding workplace culture.
• Opportunities for professional growth and development.
• Inclusivity and diversity as a top priority.