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Senior Actuarial Analyst, Lexington Casualty

At AIG, we are reimagining the way we help customers to manage risk. Join us as a Senior Actuarial Analyst, Lexington to take on key responsibilities within a world-class actuarial function.Make your mark in ActuarialOur Actuaries are on the front lines, quantifying risk, pricing insurance and reserving losses for AIG’s major insurance operating companies, globally. We collaborate with Finance, Claims, Operations, Marketing and Risk Management, among other functions. As an AIG actuary, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage and mitigate risk.How You Will Create An ImpactWe are seeking an actuarial professional with industry expertise to assist with pricing the Lexington Casualty business. The Senior Actuarial Analyst will be responsible for profitability studies, portfolio deep dives, working with underwriters on large account pricing, and pricing model development & enhancements. They will partner with other pricing actuaries in implementing best practices analytical techniques, partner with reserving actuaries in assessing the impact of loss trends and claims emergence, and partner with underwriters in assessing the impact of changes in appetite and portfolio mix.• Analyze the profitability of E&S casualty industries including Energy, Products Liability, Construction, General Casualty, Public Entities, and Transportation for GL and AL• * Work closely with underwriting to develop pricing and underwriting strategies and identify pockets of profitable growth opportunities• * Monitor rate, exposure, retention, new, lost business changes. Monitor loss trends and relevant industry/regulatory changes and effectively communicate to the management• * Provide business solutions to maximize risk adjusted profit. Develop analytical tools to help business effectively manage existing portfolios• * Work closely with reserving actuaries to understand reserve development and inform them of pricing and underwriting actions that will impact reserve estimates• * Monitor and examine profitability of the casualty lines by industry segment and geography• * Research and develop best practices pricing techniques, including GLMs, to be implemented across the business• * Develop best practices pricing techniques to be implemented across the business• * Train junior staff• What You’ll Need To Succeed• BS in Actuarial Science, Mathematics, Statistics or related area• 4 or more actuarial exams• 3+ years experience in commercial casualty lines (e.g. GL, Excess, and Auto) pricing preferred• Proficiency in Excel, SQL, SAS, Python, R , or other programming languages preferred• * Strong analytical and problem-solving skills• Work well both independently and as part of a team• Strong business and collaboration skills and responsive to service needs and operational demands• Effective time management skill• Excellent communication, presentation, and interpersonal skills• Customer focusReady to set new industry standards? We would love to hear from you.Enjoy Benefits That Take Care Of What MattersAt AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.Reimagining insurance to make a bigger difference to the worldAmerican International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.Welcome to a culture of belongingWe’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through our flexible work arrangements, diversity and inclusion learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The diversity of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to candidatecare@aig.com.Functional Area:AC - ActuarialNational Union Fire Insurance Company of Pittsburgh, Pa.
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What You Should Know About Senior Actuarial Analyst, Lexington Casualty, AIG

At AIG, we're on a mission to transform how we help our customers manage risk, and we want you to be a key player in that journey as a Senior Actuarial Analyst for Lexington Casualty in Parsippany-Troy Hills, NJ. In this role, you’ll dive deep into risk quantification, insurance pricing, and loss reserving for one of the largest insurance networks in the world. Imagine collaborating with Finance, Claims, Operations, Marketing, and Risk Management to not just analyze profitability but to actively impact strategic decisions that lead to better outcomes. You'll be responsible for comprehensive profitability studies across various complex industries, working closely with underwriters on pricing strategies, and utilizing advanced analytical techniques to enhance our pricing models. Your expertise will help us assess loss trends and the influence of changing market dynamics, delivering insights that drive profitable growth. We’re looking for someone with a strong foundation in Actuarial Science and hands-on experience in commercial casualty lines who can thrive both independently and as part of a dynamic team. You’ll help train and uplift junior staff, fostering an environment of continuous learning and improvement. If you're ready to set new industry benchmarks and make a meaningful impact, we can’t wait to hear from you!

Frequently Asked Questions (FAQs) for Senior Actuarial Analyst, Lexington Casualty Role at AIG
What are the key responsibilities of a Senior Actuarial Analyst at AIG?

As a Senior Actuarial Analyst at AIG, you'll engage in profitability studies, collaborate with underwriters for large account pricing, and enhance pricing models for the Lexington Casualty division. You'll have an exciting opportunity to analyze casualty industries such as Energy and Transportation while providing business solutions that optimize risk-adjusted profits. Your role will also involve partnering with reserving actuaries to assess loss trends and communicate insights effectively to management.

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What qualifications do I need to become a Senior Actuarial Analyst at AIG?

To qualify as a Senior Actuarial Analyst at AIG, candidates should hold a Bachelor’s degree in Actuarial Science, Mathematics, or Statistics. A minimum of four actuarial exams completed is essential, along with at least three years of experience in commercial casualty lines pricing. Proficiency in data analysis tools such as Excel, SQL, SAS, Python, or R is highly preferred to excel in this role.

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What soft skills are important for a Senior Actuarial Analyst at AIG?

In addition to technical skills, a successful Senior Actuarial Analyst at AIG should possess strong analytical and problem-solving skills. Effective communication, presentation prowess, and the ability to work collaboratively with various teams are also crucial. Time management and a customer-focused approach will ensure you meet the operational demands of this vital position.

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How does AIG support professional development for a Senior Actuarial Analyst?

At AIG, we value our employees and invest in your professional growth. As a Senior Actuarial Analyst, you’ll benefit from mentorship opportunities and training programs designed to enhance your skills. The culture of continuous learning allows you to stay updated on industry trends and best practices, which can drive your personal career advancement.

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What is the work culture like for a Senior Actuarial Analyst at AIG?

AIG fosters an inclusive and engaging workplace for its Senior Actuarial Analysts. We celebrate diverse talents and backgrounds, ensuring a culture of belonging. Flexible work arrangements and various Employee Resource Groups are part of our commitment to employee well-being, enabling you to thrive both professionally and personally at AIG.

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Common Interview Questions for Senior Actuarial Analyst, Lexington Casualty
Can you explain a complex actuarial concept you dealt with in a previous role?

When discussing complex actuarial concepts, focus on clearly defining the concept and how it applies to real-world scenarios. For example, detail a situation where you utilized Generalized Linear Models in pricing, discussing the specific outputs and how they guided underwriting decisions.

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How do you approach collaboration with underwriting teams?

Highlight the importance of effective communication and understanding the underwriters' perspectives. Share an example of how you imagined a profitability strategy together, showcasing how your actuarial analysis provided insights that led to informed underwriting decisions.

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Describe a time when you had to adapt your analysis based on changing market conditions.

In your response, provide a scenario where you had to modify your analysis due to emerging trends. Discuss the frameworks or tools you used and how your adaptability led to better insights that benefited overall business strategies.

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What techniques do you use for pricing models?

Discuss your familiarity with best practices in pricing techniques, such as Generalized Linear Models (GLMs). Explain a specific instance in which you've applied these techniques, focusing on the results and benefits they brought to the pricing process.

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How do you identify profitable growth opportunities?

Share your analytical process for evaluating various portfolios or segments for growth. Describe the metrics you utilize to identify profitable pockets and how these insights shaped strategic business objectives.

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What strategies do you use to communicate complex data to non-technical stakeholders?

Explain your approach to simplifying complex actuarial results, perhaps through visual aids or storytelling techniques. Provide concrete examples of successful presentations that helped stakeholders understand crucial information.

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How do you ensure accuracy in your actuarial analysis?

Focus on your commitment to thorough data verification and cross-checking methodologies. Discuss the software tools you use to minimize errors and your collaborative efforts with team members to validate findings.

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Can you discuss your experience with programming languages relevant to data analysis?

Mention your proficiency with programming languages such as Python or R. Discuss projects where you utilized these languages to streamline data analysis processes or enhance efficiency within actuarial practices.

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What have you learned from mentoring others in your field?

Share insights into how mentoring junior staff has deepened your understanding of actuarial principles. Emphasize the reciprocal nature of learning and how mentoring has shaped your leadership skills and communications.

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Why do you want to work as a Senior Actuarial Analyst at AIG?

Convey your excitement about AIG’s innovative approach and commitment to professional development. Relate your career goals with AIG’s vision and how you believe your skills align perfectly with the responsibilities of this position.

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We're a leading global insurance organization with operations in approximately 80 countries and jurisdictions. We provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to support ou...

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Full-time, on-site
DATE POSTED
December 7, 2024

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