Associate Actuary -Reserving

UFG is currently hiring for an Associate Actuary to join our expanding reserving team to fully support an in-house reserving process. This team will be fully engaged with the business to recognize UFG’s unique product and customer exposures. Initial efforts will include enhancing an existing reserving framework with new tools, methodologies and practices designed to deliver estimated reserve requirements supported by underlying insights to better inform the UFG leadership team.

The Associate Actuary – Reserving focuses on delivering the best estimate of reserves by utilizing actuarially sound methodologies, claims analytics and business insight to develop and maintain an adequate reserve position. The role will include developing and maintaining strong relationships with Finance, Claims, Underwriting and Pricing Actuarial partners to ensure reserve estimates reflect a thorough understanding of the business and meets the organization’s needs. This position with be responsible for coordinating the reserve process, preparing, performing actuarial analyses on loss and loss expense reserves, and communicating and documenting results.

Responsibilities:

• Lead the reserving process including planning, analysis, communication, and documentation of findings for assigned segments of the business.
• Communicate information and results to a variety of technical and non-technical audiences across the organization in a clear and concise manner.
• Establish and monitor processes to measure reserve adequacy including development of a range of reasonable outcomes.
• Collaborate with Finance, Claims, Underwriting and Pricing Actuarial to maintain a deep understanding of portfolio exposure, emerging trends, and internal requirements for consideration in reserving estimates.
• Recommend and participate in developing advanced methodologies, tools, and processes to enhance internal reserving capabilities.
• Make informed actuarial recommendations based on professional judgment and experience; effectively challenge and/or escalate issues that present risk to the results of the organization.
• Support ad hoc quantitative analysis that provides insightful and actionable guidance.
• Persistently identify opportunities to improve accuracy, consistency, efficiency, and compliance with internal standards.
• Nurture an understanding of industry trends and available data to incorporate into analyses as appropriate.
• Assist in the development of presentation materials for quarterly meetings with executive leaders and board members.
• Provide guidance, coaching and development of junior staff.
• Assist with financial reporting including support for required regulatory documents.
• Other duties as assigned.

Qualifications:

Education:

• ACAS/FCAS designation from the Casualty Actuarial Society or demonstrated proficiency in an advanced reserving environment.
• BS in Mathematics, Actuarial Science, Statistics, Economics, or related field.

Experience:

• 7+ years of actuarial experience in the property and casualty insurance industry
• 2+ years prior reserving actuarial work preferred.

Knowledge, skills & abilities:

• Strong working knowledge of actuarial techniques and standards, as well as other business operations including financial, underwriting, legal, statistics, claims, sales, etc.
• Ability to exercise discretion, apply independent judgment and well-developed critical thinking skills.
• Expert knowledge of Microsoft Office products including Excel, Power Point, Word.
• Proficiency with SQL, Python, R, and visual reporting tools such as Tableau, R Shiny or Power BI or ability to learn.
• Strong verbal and written communication skills with the ability to communicate technical analyses to a non-technical audience.
• Knowledge of commercial insurance products and general insurance/business knowledge
• Able to manage and coordinate own projects using multiple resources.

Working Conditions:

• General office conditions not subject to adverse environmental conditions.
• This role requires constant computer and phone usage for up to 8 hours per day.