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Associate Actuary - Morristown, NJ or Remote

Crum & Forster Company OverviewCrum & Forster (C&F) , with a proud history dating to 1822, provides specialty and standard commercial lines insurance products through our admitted and surplus lines insurance companies. C&F enjoys a financial strength rating of "A" (Excellent) by AM Best and is proud of our superior customer service platform. Our claims and risk engineering services are recognized as among the best in the industry.Our most valuable asset is our people: more than 2000 employees in locations throughout the United States. The company is increasingly winning recognition as a great place to work, earning several workplace and wellness awards, including the October 2023 Great Place to Work ® Award for our employee-first focus and our steadfast commitment to diversity, equity and Inclusion.C&F is part of Fairfax Financial Holdings, a global, billion dollar organization. For more information about Crum & Forster, please visit our website: www.cfins.com.Job DescriptionThe Commercial & Executive Division is looking for an ambitious actuarial student to join our team! This position provides an opportunity to work in an entrepreneurial environment with the benefits of a smaller organization (interacting directly with underwriters and underwriting leaders, your work impacts the bottom line, visibility throughout the organization), but the security, stability, and opportunity of a large conglomerate being a part of Fairfax, one of the largest P&C insurers in the United States. The role will be focused on the Commercial Lines business (Auto, GL, Property, WC, and Excess) working for the Middle Market Solutions group which focuses on Manufacturing, Wholesale, and Retail risks. You would work closely with the larger Commercial & Executive actuarial team of 14 that share a weekly huddle, best practices and tools, and partner to solve business problems.What YOU Will Do• Perform profitability studies and monitor trends• Analyze book results to help identify outliers in performance and opportunities for growth• Develop, maintain, review, update, and enhance pricing tools• Become a technical expert and trusted advisor for underwriters/management, with significant contributions to large account pricing discussions• Review key performance indicators on a monthly/quarterly basis• Operate as an effective team member by supporting projects that support the broader actuarial team• Keep up-to-date on industry best practices, new initiatives, market trends, and changes in regulatory requirements• Support the centralized regulatory services group as needed for product initiatives and filingsWhat YOU Will Bring To C&F• Strong critical thinking, problem solving, and a passion for P&C actuarial analytics• 3+ Years of experience, preferably focused on pricing• 3+ Actuarial exams• Strong interpersonal and communication skills, both verbal and written• Ability to work efficiently independently and in a group setting• Ability to manage time effectively, prioritize tasks, and consistently meet deadlines• Proficiency in MS Office products and at m a baseline familiarity with programming languages (R or SQL)• Compliance with all C&F policies and proceduresWhat C&F Will Bring To You• Competitive compensation package• Generous 401K employer match• Employee Stock Purchase plan with employer matching• Generous Paid Time Off• Excellent benefits that go beyond health, dental & vision. Our programs are focused on your whole family’s wellness, including your physical, mental and financial wellbeing• A core C&F tenet is owning your career development, so we provide a wealth of ways for you to keep learning, including tuition reimbursement, industry-related certifications and professional training to keep you progressing on your chosen path• A dynamic, ambitious, fun and exciting work environment• We believe you do well by doing good and want to encourage a spirit of social and community responsibility, matching donation program, volunteer opportunities, and an employee-driven corporate giving program that lets you participate and support your communityAt C&F you will BELONGWe value inclusivity and diversity. We are committed to equal employment opportunity and welcome everyone regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, or Veteran status. If you require special accommodation, please let us know.For California Residents Only: Information collected and processed as part of your career profile and any job applications you choose to submit are subject to our privacy notices and policies, visit https://www.cfins.com/onlineprivacypolicy/ca/noticeatcollection/ for more information.Crum & Forster is committed to ensuring a workplace free from discriminatory pay disparities and complying with applicable pay equity laws. Salary ranges are available for all positions at this location, taking into account roles with a comparable level of responsibility and impact in the relevant labor market and these salary ranges are regularly reviewed and adjusted in accordance with prevailing market conditions. The annualized base pay for the advertised position, located in the specified area, ranges from a minimum of $74,900.00 to a maximum of $140,700.00. The actual compensation is determined by various factors, including but not limited to the market pay for the jobs at each level, the responsibilities and skills required for each job, and the employee’s contribution (performance) in that role. To be considered within market range, a salary is at or above the minimum of the range. You may also have the opportunity to participate in discretionary equity (stock) based compensation and/or performance-based variable pay programs.
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$74900K
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What You Should Know About Associate Actuary - Morristown, NJ or Remote, Crum & Forster

Are you ready to launch your career as an Associate Actuary at Crum & Forster? Based in beautiful Morristown, NJ, or open to remote work, this exciting position is perfect for an ambitious actuarial student eager to make their mark on the Commercial & Executive Division. At C&F, we pride ourselves on our rich history, strong financial performance, and a collaborative culture that nurtures talent. As an Associate Actuary, you'll dive into the world of commercial lines business, including Auto, General Liability, Property, and Workers' Compensation risks, while working with a close-knit team of 14 specialists. Your role will involve conducting profitability studies, analyzing trends, and enhancing pricing tools, all while becoming a trusted advisor to our underwriters. With our commitment to your development, you will thrive in an environment that fosters growth, where you'll not only contribute to critical pricing discussions but also keep up with the latest industry trends and regulatory changes. Whether you’re crunching numbers independently or collaborating in group settings, your strong problem-solving skills will play a vital part in supporting our ambitious goals. Join us, and let’s create a positive impact together while enjoying a competitive compensation package, excellent benefits, and a vibrant workplace culture that recognizes the value of diversity and inclusion.

Frequently Asked Questions (FAQs) for Associate Actuary - Morristown, NJ or Remote Role at Crum & Forster
What are the responsibilities of the Associate Actuary at Crum & Forster?

As an Associate Actuary at Crum & Forster, you will be responsible for performing profitability studies, analyzing book results, and developing pricing tools. You'll also act as a technical expert for underwriters and participate in vital account pricing discussions while reviewing key performance indicators on a monthly and quarterly basis.

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What qualifications are needed to become an Associate Actuary at Crum & Forster?

To qualify for the Associate Actuary position at Crum & Forster, you should have at least 3 years of experience in the insurance industry, preferably with a focus on pricing. Additionally, passing 3 or more actuarial exams is required, along with strong interpersonal skills and proficiency in MS Office and programming languages like R or SQL.

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How does Crum & Forster support career development for Associate Actuaries?

Crum & Forster places a strong emphasis on career development for Associate Actuaries by providing tuition reimbursement, industry certifications, and professional training opportunities. With a supportive environment, you're encouraged to own your career path while access to resources and mentorship helps you progress.

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Is remote work an option for the Associate Actuary position at Crum & Forster?

Yes, the Associate Actuary position at Crum & Forster offers the flexibility of remote work. This allows you to contribute to the team from the comfort of your own home while still engaging with colleagues and participating in team initiatives.

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What benefits can Associate Actuaries expect at Crum & Forster?

Associate Actuaries at Crum & Forster can expect a competitive compensation package that includes a generous 401K employer match, an employee stock purchase plan, excellent health, dental, and vision benefits, as well as paid time off and wellness programs focused on the well-being of their families.

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Common Interview Questions for Associate Actuary - Morristown, NJ or Remote
Can you describe your experience with profitability studies related to actuarial practices?

When answering this question, highlight specific projects or tasks you've worked on that involved profitability studies. Discuss your methodology for analyzing data and how your outcomes related to business decisions. Make sure to relate your experience to the responsibilities expected in the Associate Actuary role at Crum & Forster.

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How do you stay updated on industry trends and regulatory changes?

Mention various resources you utilize, such as industry publications, webinars, and professional networks. Explain how this knowledge supports your role as an Actuary and improves your work, particularly how it can inform decisions at Crum & Forster.

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What software or programming languages are you proficient in?

Be specific about your experience with software like MS Office and any programming languages such as R or SQL. Provide examples of how you’ve used these skills in previous roles to enhance data analysis or improve actuarial processes.

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Describe a time when you identified an outlier in performance and how you addressed it.

Provide a detailed scenario where you analyzed data, found a discrepancy, and took steps to investigate and correct it. Discuss how this aligns with the role at Crum & Forster, which involves identifying opportunities for growth through data analysis.

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How do you prioritize tasks and manage your time effectively?

Discuss your own strategies for task management, possibly using digital tools or methods like the Eisenhower Box for prioritization. Highlight how these strategies will help you balance diverse tasks and deadlines as an Associate Actuary at Crum & Forster.

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Can you explain the importance of collaboration within an actuarial team?

Emphasize how effective partnership leads to better outcomes in actuarial practices. Provide examples of successful teamwork you've been part of, and mention how collaboration will be crucial in the Associate Actuary role at Crum & Forster.

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What do you consider your biggest accomplishment in your actuarial career so far?

Choose a relevant accomplishment that showcases your skills and contribution to past roles. Provide metrics or data related to this achievement, tailoring it to demonstrate how you can add value to Crum & Forster's goals.

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How would you approach being a technical expert and trusted advisor for underwriters?

Discuss the importance of building relationships with underwriters and how you would communicate complex data in an understandable way. Share strategies for being proactive in your consulting role, ensuring you address their needs effectively at Crum & Forster.

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What motivates you to work in the actuarial field?

Reflect on your passion for analytics and problem-solving. Talk about what drew you to the insurance industry and how this enthusiasm will drive your performance and innovation in the Associate Actuary role at Crum & Forster.

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How do you plan to contribute to Crum & Forster's commitment to diversity and inclusion?

Discuss your understanding and appreciation for diverse perspectives in a team setting. Provide examples of how you’ve championed diversity in previous roles and how you hope to further Crum & Forster's inclusive culture as an Associate Actuary.

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Create a culture of community, fairness and dedication to those we serve, including shareholders, employees, policyholders, producers, local communities and charities.

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DATE POSTED
December 11, 2024

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