Kentucky Farm Bureau Mutual Ins Co

  • Actuary (Property and Casualty)

    Job Locations US-KY-Louisville
    Posted Date 4 days ago(8/19/2019 7:30 AM)
    Job ID
    2019-1303
    # of Openings
    1
    Category
    Accounting/Finance
  • Overview

    Support insurance company leadership by developing ratemaking strategies aimed to meet corporate objectives.  This position requires strong communication and excellent human relations skills.

    Responsibilities

    ESSENTIAL FUNCTIONS

    • Collaborate with sales management, underwriting and claims leaders relative to underwriting operating performance and make recommendations that support a strong company business profile.
    • Analyze loss ratio experience, growth trends, and indications for every line of business.
    • Perform predictive modelling to support rate analyses.
    • Keep abreast of company and industry frequency and severity trends.
    • Make rate adjustment recommendations to the executive leadership team.
    • Assist in department of insurance filings.
    • Conduct quarterly loss reserve and anticipated salvage and subrogation reviews.
    • Conduct year-end loss reserve reviews including loss adjustment expenses.
    • Prepare the year-end actuarial opinion on loss and loss adjustment expense reserves.
    • Perform year end ceded and assumed loss reserve analysis.
    • Analyze premium deficiency reserves.
    • Assist with completion of actuarial analyses related to the AM Best Supplemental Rating Questionnaire (SRQ).
    • Keep current on new techniques of estimating loss.
    • Collaborate with and support other accounting and finance personnel in project and department deliverables.
    • Work in partnership with the Company’s other actuary to ensure key responsibilities for both roles are adequately covered for business continuity purposes.
    • Regular, predictable attendance as employee must physically be in the office.
    • This list of essential functions is non-exhaustive and may be supplemented as necessary.

    OTHER RESPONSIBILITIES

    • Maintain working knowledge of KFB products.
    • Stay advised of current industry trends.
    • Maintain continuing education requirements.

    JOB SPECIFICATIONS

    • Physical demands: Normal vision/hearing (with or without correction); Sitting; Speaking.
    • Mental demands: Analytical Reasoning; Prolonged Concentration; Ability to grasp new concepts quickly; Decision making ability.
    • Equipment: Personal computer.
    • Environmental factors: Standard office lighting, temperature and noise.

     

    SCOPE OF CONTACTS 

    • All levels of KFB personnel.
    • Vendors, consultants, professional groups.
    • Agents and Agency Managers.
    • Department of Insurance.

    Qualifications

     

    MINIMUM EDUCATION AND TRAINING REQUIREMENTS

    • Bachelor’s degree required preferably in a field of study demanding skill in logical problem solving, such as Mathematics, Economics, Finance, or Computer Science.
    • In-depth knowledge of insurance products.
    • Broad knowledge of an insurance company's operational areas and automated processing systems.
    • Member in good standing of the Casualty Actuarial Society and the American Academy of Actuaries.

    MINIMUM EXPERIENCE REQUIREMENTS 

    • Five years experience in various functional areas of an insurance company, including experience in an actuarial department, which would expose incumbent to policyholders' needs and departmental interrelationships.
    • Previous experience in personal lines pricing preferred.
    • Previous experience and/or training in management.
    • Previous experience in various project management methodologies.
    • Previous experience or training in Market Research and analysis.
    • Proven ability to organize, be creative and innovative and react in a restrictive time-frame.

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