Actuary, Rating/Data Team

As an Actuary on the Rating/Data Team at MAPFRE, you will be responsible for supporting rate testing and premium validation for our insurance products. This includes updating rates and formulas, running SQL queries, debugging rating errors, and learning the intricacies of premium calculations. Your role will also involve identifying efficiency improvements in existing processes, ensuring that our data is accurate and reliable, and keeping your team informed with regular progress updates.

To become an Actuary at MAPFRE, candidates typically need a Bachelor’s degree in Math, Economics, or Computer Science. Experience with SQL, Excel, and other programming languages like Python or SAS will be beneficial. Additionally, the ability to communicate effectively using actuarial terminology and a high level of attention to detail are essential for success in this role.

The Actuary position at MAPFRE can be performed in a hybrid manner, allowing for flexibility as some work can be done remotely. The role is based in Webster, MA, or within a commutable distance, encouraging a balance between in-office collaboration and remote flexibility.

At MAPFRE, Actuaries work in a collaborative and innovative environment focused on growth and development. The company promotes a culture of care that extends to both employees and the community, emphasizing teamwork and personal contributions. Regular training and learning opportunities are available to help Actuaries deepen their expertise.

Actuaries at MAPFRE have several career growth opportunities, including pursuing additional actuarial exams as outlined in the CAS syllabus. With a focus on continuous learning and professional development, MAPFRE supports its employees in advancing their careers while contributing to meaningful projects within the organization.

When debugging rating errors, I begin by reviewing the formulae and data involved in the rating process. I look for discrepancies in inputs, check for syntax errors in SQL queries, and analyze the output to identify any inconsistencies. Effective communication with team members to clarify specific issues is also vital.

In my previous role, I identified a bottleneck in our data retrieval process that slowed down rate testing. I proposed an automated solution using SQL scripts to streamline data extraction, significantly reducing processing time and improving overall team efficiency.

I am proficient in SQL, which I use extensively for data manipulation and analysis. Additionally, I have experience with programming languages such as Python and R, which I leverage to conduct statistical analysis and modeling, enhancing my effectiveness in actuarial tasks.

If my analysis contradicts expectations, I would double-check my calculations and data sources to ensure accuracy. I would also reach out to colleagues for their perspectives, as further discussion can uncover factors I might have missed and lead to more accurate conclusions.

To maintain high attention to detail, I set up a checklist for each project, breaking tasks into manageable parts. I also review my work multiple times and seek feedback from peers to ensure nothing is overlooked. Additionally, using automation tools where applicable can help reduce human error.

I am excited about the opportunity to work at MAPFRE because of its commitment to innovation and community engagement. I admire the company’s focus on employee development and its strong reputation as a leader in the insurance industry, which aligns with my professional goals.

I stay current with actuarial industry trends by regularly reading journals, attending webinars, and participating in professional actuarial organizations. I engage with online forums where professionals discuss changes in regulations and methodologies, which helps to broaden my knowledge.

I have actively participated in rate testing by analyzing historical data and validating premium calculations. I ensure that our rates comply with regulatory standards and meet both market expectations and company profitability targets.

When managing multiple projects, I prioritize tasks by assessing the deadlines and relative importance of each project. I use project management tools to keep track of my workload and adjust priorities as necessary to meet the most critical deadlines effectively.

I am motivated by the challenge of solving complex problems and the opportunity to contribute to sound decision-making that impacts the company's bottom line. Additionally, knowing that my work helps provide financial protection for people and businesses in my community drives me to excel.