Senior Actuarial Analyst

Westfield - Westfield Center, OH

Full-time - Mid Level

Westfield Center, OH

Educational Services

About the position

The Senior Actuarial Analyst at Ohio Farmers Insurance Company plays a crucial role in conducting complex analyses and leading special actuarial projects with limited supervision. This position requires a high level of technical actuarial expertise to improve processes within the actuarial department, develop best practices for pricing techniques, and provide mentorship to less experienced professionals. The analyst will also offer insights on market trends and product performance while ensuring compliance with internal and external standards.

Responsibilities

• Directs actuarial projects while applying actuarial skills and knowledge of the Company's insurance products and operations.
• Completes research, ensures accuracy of calculations and analyses, and meets project deadlines.
• Completes all complex actuarial assignments by following standard processes in areas like Pricing, Loss Reserving, Research and Development, etc.
• Provides input on the pricing of new and existing products, collaborates with the Underwriting and Product team, and determines loss and loss expense reserve recommendations.
• Assists in developing management reports that are used to monitor performance, behavior, and results of company goals and objectives.
• Develops and maintains adequate knowledge and awareness of industry activities through attendance at seminars, reading trade journals and magazines, and through personal contact with other insurance companies, state regulatory bodies, and professional affiliations.
• Gathers information, prepares reports, and creates datasets following already documented processes in support of the Actuarial Department.
• Prepares collateral for defending state filing materials, estimates unpaid loss and loss expense liabilities, provides support to Finance Reporting, and partners with the IT team to implement rate and rule changes in rating.
• Provides ongoing review and improvements of pricing and processes for greater automation, accuracy, and rate adequacy.
• Supports peers and less experienced professionals, analysts, and associates in their respective activities on pricing, reserving, and research and development.

Requirements

• 5+ years of insurance and/or business experience.
• 4+ years of actuarial experience.
• Bachelor's degree in Mathematics, Actuarial Science, Statistics, or a related field and/or commensurate work experience.