Support insurance company leadership by developing ratemaking strategies aimed to meet corporate objectives. This position requires strong communication and excellent human relations skills. This position also requires a high level of collaboration and connectivity to other functional areas in both the department and the organization as a whole.
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.
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 actuaries to ensure key responsibilities 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.
Maintain working knowledge of KFB products.
Stay advised of current industry trends.
Maintain continuing education requirements.
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.
MINIMUM EDUCATION/TRAINING REQUIREMENTS
Bachelor’s degree required preferably in a field of study demanding skill in logical problem solving, such as Mathematics, Economics, Finance, Statistics, Computer Science, Engineering, Physics, Actuarial Science or related field.
In-depth knowledge of insurance products.
Broad knowledge of an insurance company's operational areas and automated processing systems.
Successful completion of at least five actuarial exams. Member in good standing of the Casualty Actuarial Society and the American Academy of Actuaries preferred.
MINIMUM EXPERIENCE REQUIREMENTS
Three 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.
Experience with Microsoft Office products specifically Excel, preferred.
Experience with a programming language including SQL, SAS, R, Python or similar and a desire to learn more, preferred.
Excellent time management skills.
Excellent interpersonal skills (both verbal & written).
Proven ability to organize, be creative and innovative and react in a restrictive time-frame.