Associate Actuary

Date: Nov 14, 2019

Division or Field Office:

Actuarial Division

Department of Position: Pricing Department 

Work from:

Corporate Office in Erie, PA

 

At Erie Insurance, you’re not just part of a Fortune 500 company; you’re also a valued member of a diverse and inclusive team that includes more than 5,000 employees and over 2,200 independent agencies.  Our Employees work in the Home Office complex located in Erie, PA, and in our Field Offices that span 12 states and the District of Columbia.  To attract and retain the best talent, we reward our team members with competitive salaries and a very generous benefits package.

 

Position Summary

Manages the research, analysis and development of prices and/or reserves for assigned ERIE products and states.

 

Candidates may be considered for the following levels when applying to this requisition:

  • Actuarial Analyst I
  • Actuarial Analyst II
  • Senior Actuarial Analyst
  • Associate Actuary
  • Actuary

 

Level of position offered will be based upon the depth and breadth of selected candidate’s experience and qualifications. 

Duties and Responsibilities
  • Conducts complex rate reviews and/or reserving analyses and prepares in-depth rate studies and rate recommendations. Directs the preparation of materials to support state insurance department rate filings and the preparation of manual pages and computer rate tables. Recommends innovations to improve current methodologies.
  • Acts as a project coordinator for the rate review process. Leads project team with product development, rate change services, underwriting, claims and marketing to ensure proper rate reviews.
  • Applies an extensive knowledge of ratemaking and reserving procedures used by The ERIE, competitors, and rate bureaus. Maintains current knowledge of generally accepted actuarial methods, competitive standings, and related developments and information.
  • Presents rate development information to senior management and communicates rate changes to other departments as required. Presents effectively formatted analyses regarding various developments and activities and their impacts on those areas.
  • Designs or improves rate study procedures and formats when appropriate. Recommends, designs, and directs special projects for ratemaking, reserving or reinsurance needs. Presents results and recommendations to management.
  • Coordinates the education of less experienced staff regarding ERIE and industry practices, data sources, and job efficiencies.Â
  • Represents The ERIE at hearings and on industry and actuarial organizations and committees.
  • Visits field offices and/or Agent meetings as required to present actuarial information.
  • Competencies
    Ability To Learn And Follow Procedures
    Ability to Manage Complexity
    Coaching
    Decision Making
    Developing And Maintaining Relationships
    Information Management Skills
    Interpersonal Communication
    Job-Specific Knowledge
    Planning And Organizing
    Presentation Skills
    Problem Analysis
    Proofing Text And Numbers
    Service Orientation
    Time Management
    Coding And Converting
    Qualifications

    Bachelor's degree in mathematics or a related field required. Achievement of the Associate in the Casualty Actuarial Society (ACAS) designation required. Three years of previous experience in pricing, reserving or a related actuarial field, including mastery of ratemaking, reserving, and actuarial techniques required. Ability to improve and enhance actuarial processes and procedures required. Proficiency in spreadsheet, database and related software required. Previous programming experience required.

    Physical Requirements
    Lifting 0-20 lbs; Occasional (<20%)
    Lifting 20-50 lbs; Occasional (<20%)
    Lifting Over 50 lbs; Occasional (<20%)
    Driving; Occasional (<20%)
    Pushing/Pulling; Occasional (<20%)
    Manual Keying/Data Entry; Often (20-50%)
    Climbing; Rarely


    Nearest Major Market: Erie

    Job Segment: Underwriter, Claims, Actuarial, Database, Insurance, Technology