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Actuarial Associate

Company: Assurant
Location: Homestead
Posted on: April 9, 2021

Job Description:

Assurant has an exciting opportunity for an Actuarial Associate! The Actuarial Associate supports various actuarial functions that include pricing, reserving, financial reporting, capital management & forecasting. They provide detailed analysis to standard, defined tasks. This role implements techniques which support Assurant operations in achieving its goals related to revenue and profitability targets. The Actuarial Associate demonstrates the ability to understand direction provided in project deliverables, time management, and development. This role is expected to also participate in the department's exam and rotational programs, which provides the opportunity to gain experience in numerous areas of the Actuarial organization while also understanding all products included in Assurant's product suite. The Actuarial Associate generally reports to the Supervisor or Manager of Actuarial. This individual will work remotely temporarily due to COVID-19. Responsibilities:

  • Performs reserve reviews for multiple products using standard accepted actuarial reserving methodologies. Performs deeper analysis to understand trends and anomalies in loss experience. Provides suggestions regarding IBNR bookings decisions.
  • Assists in communicating analysis insights and reserve decisions to business leaders. Translates actuarial analysis to understandable business metrics fit for audience.
  • Provides statutory financial reporting support for assigned legal entities including communication of manual reserve entries to accounting, coordination with other actuaries on data needed, assist accounting in the preparation and verification of the quarterly & annual schedule P requirements, and perform year-end support for statutory statement preparation including Schedule P, RBC, Statement of Actuarial Opinion, Actuarial Opinion Summary and Actuarial Report.
  • Provide additional financial reporting support for US GAAP as needed.
  • Ability to review requirements and provide essential details for internal and external inquires and ad hoc requests as directed by manager.
  • Demonstrates thorough understanding of data and systems, including inefficiencies, through analysis of trends. Reconciles data to source systems, including adjustments for manual processes.
  • Gathers information from internal departments and complete reports and analysis as directed; solicits feedback on improvements to reporting and communications.
  • Assists with collecting data and responding to inquiries from state insurance departments, auditors, and internal (Accounting, Claims, Compliance, IT, etc.) areas regarding business processes and gaps.
  • Identifies data and process inefficiencies; recommends and implements process improvement initiatives with direction.
  • Actively manages self-development. Participates in cross-training and knowledge. information sharing within team to accomplish goals.
  • Takes property and casualty actuarial exams in pursuit of professional designationBasic Qualifications - Experience, Skills and Knowledge:
    • Bachelor's degree in Mathematics, Actuarial Science, or related field and a minimum of 3-6 exams completed.
    • Minimum of 2-5 years of overall experience.
    • Must be pursuing actuarial designation.
    • Minimum of 2-3 years of progressive responsibilities and related experience in an actuarial role.
    • Has intermediate level of understanding actuarial concepts, insurance product and industry knowledge.
    • Intermediate proficiency in MS Office Applications including Excel, PowerPoint, Word, Outlook, SharePoint.Preferred Experience, Skills and Knowledge:
      • Bachelor's degree in Mathematics, Actuarial Science, or related field and a minimum of 3-6 exams completed
      • Minimum of 2-5 years of progressive responsibilities
      • Must be pursuing actuarial designation
      • Minimum of 2-3 years of progressive responsibilities and related experience in an actuarial role.
      • Has intermediate level of understanding actuarial concepts, property and casualty insurance products and industry knowledge
      • Intermediate to Expert proficiency in programming languages such as SQL, Python, R, Databricks, and/or SAS.
      • Intermediate proficiency in data visualization tools such as MS Power BI.
      • Addresses conflict on a timely basis, avoiding issues to prolong and affect working relationships or goals. Discusses resolution alternatives with manager prior to engagement.
      • Can actively listen and effectively explain specific variances to a technical and non-technical audience.Benefits and Value Proposition:
        • We offer a competitive salary and comprehensive benefits to full time and part time employees including medical, dental, STD, LTD, life insurance, 401(k), generous paid time off and much more.
          • We strive to maintain a professional, yet friendly environment and promote professional and career development for our employees.
            • Assurant is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.To learn more about our current opportunities and apply online, please visit: > Follow us on Twitter! > Company Profile:Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has approximately $30 billion in assets and $9 billion in annual revenue. Assurant has approximately 14,500 employees worldwide and is headquartered in New York's financial district. .

Keywords: Assurant, Homestead , Actuarial Associate, Other , Homestead, Florida

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