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Actuarial Analyst - job 1 of 2

Company Description

We help the world see new possibilities and inspire change for better tomorrows. Our analytic solutions bridge content, data, and analytics to help business, people, and society become stronger, more resilient, and sustainable.

Job Description

The Analytical Data Operations (ADO) division is Verisk/ISO's data refinery, ensuring that ISO's analytical engines are properly fueled. As a member of ADO you will be part of a team of data analysts, BI developers, data engineers, data architects, and actuarial/analytical-engineers that are dedicated to improve our data analytics platform to support a host of products the US P&C industry relies on.

Responsibilities:

  • Use existing tools to review the quality of data submitted by insurance companies.
  • Develop more efficient, automated ways to improve data quality and error detection processes.
  • Use predictive models to develop data quality scores.
  • Help respond to questions about insurers data.
  • Provide suggestions for improvements in data quality review procedures.
  • Make presentations on data quality and data management topics to insurers who report data to us and ISO users of data.
  • Collaborate with other ISO divisions (actuarial, analytical and technology) to develop new data quality procedures and corrected databases.
  • Perform other duties as assigned. 

Qualifications

  • College degree with major in mathematics, actuarial science, economics or related field.
  • Good oral and written communications skills.
  • Ability to work independently and as part of a team.
  • Ability to work on several projects concurrently.
  • Passing of at least one actuarial exam.
  • Some familiarity with insurance coverages, actuarial methodologies, and quality control.
  • Technical background should include a working knowledge of MS Office applications.
  • Knowledge of ETL tools, Business Rules Engines, SQL, SAS, or R is a plus.
  • Data management skills or knowledge of insurance data management principles is a plus.
  • Ability to perform essential job duties with or without reasonable accommodation.

#LI-MC1

Additional Information

For over 50 years, Verisk has been the leading data analytics and technology partner to the global insurance industry by delivering value to our clients through expertise and scale. We empower communities and businesses to make better decisions on risk, faster.

At Verisk, you'll have the chance to use your voice and build a rewarding career that's as unique as you are, with work flexibility and the support, coaching, and training you need to succeed. 

For the eighth consecutive year, Verisk is proudly recognized as a Great Place to Work® for outstanding workplace culture in the US, fourth consecutive year in the UK, Spain, and India, and second consecutive year in Poland.  We value learning, caring and results and make inclusivity and diversity a top priority.  In addition to our Great Place to Work® Certification, we’ve been recognized by The Wall Street Journal as one of the Best-Managed Companies and by Forbes as a World’s Best Employer and Best Employer for Women, testaments to the value we place on workplace culture.

We’re 7,000 people strong.  We relentlessly and ethically pursue innovation. And we are looking for people like you to help us translate big data into big ideas. Join us and create an exceptional experience for yourself and a better tomorrow for future generations.

 

Verisk Businesses

Underwriting Solutions — provides underwriting and rating solutions for auto and property, general liability, and excess and surplus to assess and price risk with speed and precision

Claims Solutions — supports end-to-end claims handling with analytic and automation tools that streamline workflow, improve claims management, and support better customer experiences

Property Estimating Solutions — offers property estimation software and tools for professionals in estimating all phases of building and repair to make day-to-day workflows the most efficient

Extreme Event Solutions — provides risk modeling solutions to help individuals, businesses, and society become more resilient to extreme events.

Specialty Business Solutions — provides an integrated suite of software for full end-to-end management of insurance and reinsurance business, helping companies manage their businesses through efficiency, flexibility, and data governance

Marketing Solutions — delivers data and insights to improve the reach, timing, relevance, and compliance of every consumer engagement

Life Insurance Solutions – offers end-to-end, data insight-driven core capabilities for carriers, distribution, and direct customers across the entire policy lifecycle of life and annuities for both individual and group.

Verisk Maplecroft — provides intelligence on sustainability, resilience, and ESG, helping people, business, and societies become stronger

Verisk Analytics is an equal opportunity employer.

All members of the Verisk Analytics family of companies are equal opportunity employers. We consider all qualified applicants for employment without regard to race, religion, color, national origin, citizenship, sex, gender identity and/or expression, sexual orientation, veteran's status, age or disabilityVerisk’s minimum hiring age is 18 except in countries with a higher age limit subject to applicable law.

https://www.verisk.com/company/careers/

Unsolicited resumes sent to Verisk, including unsolicited resumes sent to a Verisk business mailing address, fax machine or email address, or directly to Verisk employees, will be considered Verisk property. Verisk will NOT pay a fee for any placement resulting from the receipt of an unsolicited resume.

https://www.verisk.com/privacy-policies/data-privacy-notice-for-employees-applicants-and-independent-contractors/ 

 

 

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What You Should Know About Actuarial Analyst, Verisk

Are you ready to jump into the exciting world of insurance analytics? As an Actuarial Analyst at Verisk in Jersey City, NJ, you'll play a vital role in enhancing our data analytics platform, a backbone for products that support the US Property & Casualty industry. Here, your responsibilities will cover a broad spectrum: from reviewing data quality submitted by insurance companies to developing automated processes that enhance error detection and improve overall data quality control. You’ll utilize predictive models to create data quality scores, answer queries from insurers, and even present data management topics to clients. If you have a knack for numbers and a passion for improving analytics, you'll thrive in our Analytical Data Operations (ADO) division, working alongside a talented mix of data analysts, BI developers, and engineers. Verisk is dedicated to encouraging collaboration, where your insights will help shape efficient data procedures and corrected databases. With a supportive work environment that champions individuality, diversity, and continuous learning, we’re not just building a solid analytics platform—we're crafting a community of forward-thinkers. Join us, and let’s turn big data into revolutionary ideas for a better tomorrow together!

Frequently Asked Questions (FAQs) for Actuarial Analyst Role at Verisk
What responsibilities does an Actuarial Analyst have at Verisk?

As an Actuarial Analyst at Verisk, you'll be responsible for reviewing the quality of incoming data from insurance providers, creating automated processes for enhanced data checks, and generating predictive models for data quality assessments. You will also address inquiries related to insurers' data and suggest improvements for data management practices, all while collaborating with other divisions to foster better data quality procedures.

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What qualifications do you need to be an Actuarial Analyst at Verisk?

To qualify for the Actuarial Analyst position at Verisk, you should have a college degree in mathematics, actuarial science, economics, or a related field. Passing at least one actuarial exam is necessary, and familiarity with insurance coverages, actuarial methodologies, and quality control principles will be advantageous. Furthermore, strong communication skills and the ability to multitask across several projects are key!

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What software skills are beneficial for an Actuarial Analyst at Verisk?

As an Actuarial Analyst at Verisk, having a working knowledge of MS Office applications is essential. Additionally, familiarity with ETL tools, SQL, SAS, or R can significantly enhance your effectiveness in this role. Understanding insurance data management principles will also give you an added edge in data quality reviews.

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What is the work culture like for an Actuarial Analyst at Verisk?

At Verisk, the work culture is one of inclusion, diversity, and empowerment. As an Actuarial Analyst, you will be part of a dynamic team that encourages collaboration and personal growth. With a commitment to innovation and the continuous pursuit of excellence, you'll find ample opportunities for training and professional development in a supportive environment.

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How does Verisk support its Actuarial Analysts in terms of job flexibility?

Verisk prioritizes work-life balance and offers flexibility within its workplace culture, allowing Actuarial Analysts to tailor their work hours to fit their individual needs while still meeting project deadlines. This approach fosters a healthier work environment where you can thrive both personally and professionally.

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Common Interview Questions for Actuarial Analyst
Can you explain how you would review and ensure data quality in your role as an Actuarial Analyst?

To ensure data quality as an Actuarial Analyst, I would leverage existing tools to conduct thorough reviews of the data submitted by insurers. Collaborating with team members, I would also identify specific error patterns and develop automated processes for error detection, ensuring ongoing data integrity and reliability.

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What methods would you use to develop predictive models for data quality scores?

I would start by analyzing the historical data submitted by insurers to identify trends and anomalies. Using statistical analysis and machine learning techniques, I would then develop predictive models that can quantify data quality based on various parameters, improving both response times and overall data management.

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Describe how you would handle a situation where data submitted by an insurer appears inconsistent.

In such a scenario, I would first reach out for clarification, gathering context from the insurer regarding the inconsistency. Using data analysis tools, I would then compare their submission against prior data to identify any discrepancies. Open communication and collaboration with the insurer would be key to resolving the issue and improving future submissions.

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How do you prioritize your tasks when working on multiple projects as an Actuarial Analyst?

I prioritize tasks by assessing deadlines and project importance, often using project management tools to track progress. I also maintain open communication with team members to ensure alignment with overall project goals, allowing me to adjust priorities dynamically as needed to meet crucial deadlines.

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What do you do to stay updated with the latest trends in actuarial science and analytics?

I actively engage with professional organizations, attend conferences, and read relevant publications to stay informed about new methodologies and innovations in the field. Networking with peers in the industry also helps me to gather insights and share best practices.

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Can you provide an example of how you presented technical information to non-technical stakeholders?

In a previous role, I simplified complex data analysis results into visual presentations, emphasizing key insights with clear graphics and minimal jargon. By focusing on the implications of the data rather than technical details, I could effectively communicate the findings to non-technical stakeholders.

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How would you assist in developing improved data quality review procedures?

I would analyze existing procedures to identify weaknesses and gather feedback from team members on pain points experienced during the review process. By collaborating with the team, I would propose solutions that leverage automation and advanced data analytics to streamline the review process.

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What experience do you have with SQL or similar database management tools?

I have hands-on experience with SQL, where I regularly write queries to extract and analyze data sets. Proficiency in using joins, subqueries, and functions enables me to derive meaningful insights, thus enhancing data quality assessments in previous projects.

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How do you approach learning new tools or software relevant to your role?

I am proactive in my approach to learning new tools by dedicating time to online courses and tutorials. I also practice using the software in realistic scenarios to build my proficiency. Additionally, I seek mentorship from colleagues experienced in specific tools to accelerate my learning.

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In your opinion, what makes a successful Actuarial Analyst?

A successful Actuarial Analyst must have robust analytical skills, attention to detail, and the ability to communicate complex findings clearly. Additionally, adaptability and a collaborative spirit are essential to thrive in a dynamic team environment and address rapidly changing industry demands.

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To be the leading strategic data, analytics and technology partner to the global insurance industry by delivering value to our clients through knowledge, expertise and scale.

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Full-time, on-site
DATE POSTED
January 2, 2025

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