Job details

Actuary

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Company Details

Berkley Specialty Excess, a W. R. Berkley Company, is a wholesale-dedicated excess and surplus lines commercial insurance carrier. We specialize in underwriting difficult-to-place moderate to high-risk commercial business looking for creative solutions to new and unusual complex Environmental and Energy risks

Company URL: https://www.berkleyse.com/

The company is an equal opportunity employer.

Responsibilities

The Actuary will assist the Chief Actuary in both pricing and reserving capacities. This role involves the development and maintenance of rating algorithms and software, the construction and interpretation of loss triangles, and the timely delivery of actuarial reports and regular corporate or statutory reports.

Perform actuarial analyses including price monitoring, claims trend, exposure profiling, profitability, etc.
Develop and test risk pricing software, experience raters, and other actuarial tools.
Update rating variables through experience and industry studies.
Assess rate changes and communicate impacts to underwriters.
Conduct scheduled and ad hoc loss ratio studies.
Create and maintain claims and expense development triangles to diagnose the book.
Provide support in quarterly analysis and reports.
Support WRBC in year-end loss reserve opinion and documentation as required for the annual statement.
Assist and support the Finance Department and WRBC in Schedule P preparation and other reserve areas.
Participate in the planning/budget process preparation.
Ability to travel, as needed.
Perform other support duties as assigned.

Qualifications

Bachelor’s degree in Business, Finance, Actuarial Science, data science, or a related field.
A passing mark on at least five actuarial exams.
Minimum of (5 years) work experience within the property/casualty insurance industry with exposure to rate-making and reserving.
Critical thinker.
Excellent analytical and problem-solving abilities.
Self-starter with ability to prioritize heavy workload and escalate tasks that might be falling behind.
Comfortable using any quantitative programming language (Excel, VBA, R, Python, SQL, SAS, MATLAB).
Familiarity with any business insights software (including Shiny, Power BI, Tableau, Markdown, etc.).
Unafraid to learn and use new programming languages in two weeks or less.
Ability to transform data into actionable insights.
Exceptional communication and interpersonal skills.
High level of integrity and dependability with a strong sense of urgency and results-orientation.
Technical proficiency is required.

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Additional Company Details

We do not accept any unsolicited resumes from external recruiting agencies or firms. The company offers a competitive compensation plan and robust benefits package for full time regular employees. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment.

Sponsorship Details

Sponsorship not Offered for this Role

Average salary estimate

$110000 / YEARLY (est.)

min

max

$90000K

$130000K

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What You Should Know About Actuary, Berkley

Are you ready to take on an exciting challenge as an Actuary with Berkley Specialty Excess in Stamford? In this dynamic role, you'll collaborate closely with the Chief Actuary to make significant contributions in pricing and reserving. You will be at the forefront of developing and maintaining cutting-edge rating algorithms and software while interpreting complex loss triangles. Your analytical skills will shine as you perform breakthrough actuarial analyses, from price monitoring to assessing claims trends and profitability. Every day will be different, with tasks ranging from updating rating variables based on industry studies to communicating impacts of rate changes to underwriters. You’ll also conduct insightful loss ratio studies and support quarterly analysis, making a real difference in our financial understanding. With a focus on teamwork, you'll assist with the year-end loss reserve opinion and help prepare vital documentation for our annual statement. At Berkley Specialty Excess, we value your skills and offer a competitive compensation package along with a supportive workplace culture that encourages you to continue learning and growing. If you have a knack for number-crunching and a passion for data science, we’d love to hear from you!

Frequently Asked Questions (FAQs) for Actuary Role at Berkley

What are the key responsibilities of the Actuary at Berkley Specialty Excess?

As an Actuary at Berkley Specialty Excess, your main responsibilities will include assisting the Chief Actuary in pricing and reserving, developing rating algorithms, conducting actuarial analyses, and communicating rate change impacts to underwriters. You'll also maintain claims triangles, support quarterly analysis, and aid in preparing vital documentation for our annual statement.