Actuarial Analyst launching actuarial career with Securian Financial through comprehensive rotational program. Hands - on experience in various actuarial functions with mentorship and coaching.
About the role
- Senior Actuarial Analyst addressing financial and actuarial tasks to support workers' compensation at SAIF. Collaborating with a team on rate recommendations and financial assessments.
Responsibilities
- Development of reasonable loss and loss adjustment expense reserves.
- Preparation of various inputs to the annual and quarter financial statements and related filings and participation in regulatory audits.
- Development and filing of sound rate recommendations, maintenance of SAIF’s pricing and rate adequacy monitoring tools, conducting trend and market analysis research, and providing support to Underwriting on individual account pricing and the development of technical underwriting guidelines.
- Updates to and maintenance of SAIF’s financial forecasts, dividend models, capital models, and surplus analyses.
- Completion of supporting documentation and communication including the Own Risk Solvency Assessment (ORSA).
- Support for SAIF’s reinsurance program and monitoring of reinsurance coverage including claim reporting, commutations, and financial reporting.
- NCCI financial data call process, including calculating any data anomalies and communicating with NCCI to explain SAIF’s data and answer questions.
- Conduct research and analysis that contributes to recommendations that inform strategic priorities related to actuarial analysis and planning.
- Participate in the design and execution of data analysis, and support to various external and internal customers, including auditors, reinsurers, and reinsurance brokers, SAIF’s appointed actuary and staff, and SAIF’s executive leadership team and board of directors.
- Monitor external information sources for developments that may affect SAIF’s operations and strategies, including such areas as regional business conditions, competitors, demographics, legal or regulatory changes, and medical costs, utilization, treatment patterns and practices, medical outcomes, and healthcare policy.
- Assess potential impacts and assist with the preparation of recommendations to inform management response.
- Stay abreast of trends and innovations in the casualty actuarial profession related to pricing, reserving, workers’ compensation, and related areas.
- Serve as a consultant and resource for internal and external business information, pro-active problem resolution, and the application of analytical techniques.
- Work closely with the Data & Analytics function to monitor and inform data integrity and incorporate the use of analytics to inform decisions.
- Coach others in the use and interpretation of standard actuarial procedures.
- Explore diverse perspectives and consistently behave sensitively toward differences in cultural norms, expectations, and ways of communicating.
- Work effectively with others who have different perspectives, backgrounds, and/or work styles.
- Perform other duties as assigned by management to support team objectives and organizational goals, demonstrating flexibility and adaptability in responding to evolving priorities and needs.
Requirements
- Four years of actuarial experience, including experience supporting actuarial reserving, pricing, or financial modeling in the insurance industry
- Experience in workers’ compensation insurance strongly preferred
- A bachelor’s degree in actuarial science, mathematics, economics, finance, or a related field
- Continued progress towards or maintenance of membership in the Casualty Actuarial Society in accordance with the guidelines established by SAIF’s Actuarial Study and Professionalism Program
- Progress towards membership in the Casualty Actuary Society including completion of CAS exam 5 or exam 6.
- Other combinations of skills and experience may be considered.
Benefits
- Health care
- Retirement savings plans
- Paid time off
- Eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, seasonal, or temporary employment.
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