Associate Actuary

Date: May 25, 2021

Location: Erie, PA, US, 16530

Job requisition: 22985
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Division or Field Office:

Actuarial Division

Department of Position: Enterprise Risk Mgmt Dept 

Work from:

Corporate Office in Erie, PA or Remote in ERIE's Operating Footprint

 

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.

 

Additional Summary:

  • This position may be a remote role in ERIE's Operating Footprint if the selected candidate is not local to the Erie, PA area.
  • The hiring manager will consider candidates for the following levels: Sr. Actuarial Analyst, Associate Actuary, Actuary.  Level of position offered will be based upon the depth and breadth of selected candidate's experience and qualifications.

 

This actuarial position is in the Enterprise Risk Management Department. The primary focus of the position is to identify, measure, and report significant risks that impact the enterprise, estimate capital needs, recommend optimal use of capital, and support the development of risk management strategy. This includes quantitative analyses, financial forecasts, and in-depth studies. The team is seeking ingenuity and a real desire to influence decision making. Experience using economic capital models or catastrophe models is preferred.

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.

 

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.

 

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.

 

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.

 

Coordinates the education of less experienced staff regarding ERIE and industry practices, data sources, and job efficiencies.

 

The first six duties listed are the functions identified as essential to the job. Essential functions are those job duties that must be performed in order for the job to be accomplished. 

 

This position description in no way states or implies that these are the only duties to be performed by the incumbent. Employees are required to follow any other job-related instruction and to perform any other duties as requested by their supervisor, or as become clear. 

 

 

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.

All Erie Employees with a telecommuting arrangement in which they consistently work remotely during part, or all, of their work schedule must have in their regular remote work location, access to business class internet service providing 3 megabytes (3 MBs) or more of bandwidth.  For this purpose, business class internet means internet service with a static IP address, dedicated connections and guarantees or service level agreements (SLAs) addressing relevant performance characteristics.  The internet service bandwidth requirement is subject to revision from time to time based on the requirements of ERIE’s systems.

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

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