Please note, employment offered to residents in the following states only: Connecticut, Delaware, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont.
At Preferred, we understand the importance of holistic health. To meet the diverse needs of our employees, we offer a comprehensive set of benefits:
Financial
Short-term disability, long-term disability, and life insurance coverage are provided at no cost
Optional benefits include enhanced life insurance and critical illness plans
401k plan with an employer contribution that you will receive regardless of your own contribution to the plan
Pension Plan
Certain positions may also be eligible for short-term incentive plans.
Social
Generous paid time off, offering of 25 days at hire (prorated based on start date for the first year)
7 days of paid sick leave
10 paid company holidays
Personalized paid time off after 3 years!
Emotional
Access to Modern Health, a provider of accessible, personalized mental health care
Physical
Medical, dental, and vision coverage options begin on the first day of employment
Flex Spending Accounts and Health Savings Accounts (with employer contribution) are available based on the medical plan you choose
YOUR PURPOSE AND FUNCTION IN OUR COMPANY:
Under direct supervision, perform routine actuarial analysis to provide insight to corporate and insurance operations regarding reserve adequacy, pricing and profitability. The Actuarial Analyst will:
Expand actuarial skills and apply them to assist with actuarial rate reviews and reserve analysis
Provide supporting materials to secure regulatory approval of company rates
Collect and analyze historical data from company's data warehouse system to draw valid conclusions and make recommendations
Assist with research to identify and incorporate emerging trends, competitive conditions and operational changes into analyses
Assist with creating and refinement of pricing and forecasting templates
Clearly communicate results of analyses to internal business partners with varying degrees of technical expertise
Develop ad-hoc reports to address business or product related questions
Perform industry related research as requested
Support Implementation of new products
KEY CAPABILITIES FOR SUCCESS:
Develops experience reports which accurately project expected profitability
Successfully supports filing initiatives with actuarial analyses
Demonstrates solid understanding of core products and territories
Positive relationships with coworkers
QUALIFICATIONS:
Baccalaureate degree in Actuarial Science, Mathematics or related area with a minimum GPA of 3.0 out of 4.0
Successful completion of 2 to 4 CAS examinations
A minimum of 2- to 5 years actuarial experience
Strong mathematical aptitude and basic actuarial abilities with a high degree of accuracy
Possess a high degree of analytical, problem solving and decision making skills
Strong computer application skills, specifically in Excel and relational databases
Good verbal and written communication skills
General knowledge of property and casualty products, commercial lines a plus
Ability to work independently on assigned tasks and meet deadlines consistently
Demonstrated initiative and commitment to process improvements
ABOUT US: As a mutual company, we are independent by nature, so we think about insurance solutions a little differently. Through listening, problem solving, examining your challenges and collaborating on the right solutions for you, Preferred Mutual independent agents provide flexible solutions and adapt to your evolving needs. We do the same for our employees. We are process and domain experts, focused on the solutions that deliver results for our clients and our company. We offer a great work environment, professional development, challenging careers, and competitive compensation. With Preferred, there are no surprises. You can count on us to deliver on our promises and be there when you need us, as your insurance provider and your employer. Preferred Mutual is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability, protected veteran status or other characteristics protected by law.
DISCLAIMER: This role (job) description indicates in general terms, the type and level of work performed as well as the typical responsibilities of employees in this classification. The duties described are not to be interpreted as being all-inclusive to any specific employee. Management reserves the rights to add, modify, change or rescind the work assignments of different positions and to make reasonable accommodations so that qualified employees can perform the essential functions of the job. Nothing in this position description changes the at-will employment relationship existing between Preferred Mutual Insurance Company and its employees.
The salary range for the role is $76,000 to $110,000 per year paid on a salaried basis. The rate offered to any candidate will be reflective of the candidate's experience and any relevant education, certification, or qualifications related to their ability to perform the responsibilities of this position as permitted by law.
QUALIFICATIONS:
Baccalaureate degree in Actuarial Science, Mathematics or related area with a minimum GPA of 3.0 out of 4.0
Successful completion of 2 to 4 CAS examinations
A minimum of 2- to 5 years actuarial experience
Strong mathematical aptitude and basic actuarial abilities with a high degree of accuracy
Possess a high degree of analytical, problem solving and decision making skills
Strong computer application skills, specifically in Excel and relational databases
Good verbal and written communication skills
General knowledge of property and casualty products, commercial lines a plus
Ability to work independently on assigned tasks and meet deadlines consistently
Demonstrated initiative and commitment to process improvements