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Pharmacists Mutual Insurance has an opening for an Actuarial Analyst. The Actuarial Analyst applies analytical skills to quantifyrisk and financialconsequences. The position aids in designing, pricing new products, and revising rating plans. It also compiles data and performs miscellaneous research activities for use on analysis of experience, development of forecasts, and revisions of rates.
Actuarial Analyst I
- Perform simple preliminary actuarial reviews including but not limited to rate, risk analysis, and additional data analyses or projects.
- Complete comparative analysis against competition to provide recommendations.
- Collaborate with other departments to gather data, monitor industry trends, and changes that may impact actuarial calculations.
Actuarial Analyst II
- Perform more complex actuarial reviews including but not limited to rate, risk analysis, and additional data analyses or projects with some assistance.
- May train and assist others on rating and analytical skills and concepts.
Essential Functions
Essential functions may include, but are not limited to the following:
- Designs, develops, and maintains rate and pricingmodels to optimizecompetitive advantage and support corporate objectives.
- Coordinates data compilation, validation, and presentation.
- Completes data requestsrelated to reinsurance renewal efforts.
- Assists Chief Actuarywith tasks as needed.
- Completes other actuarialstudies as assigned.
- Ability to apply theoretical solutionsto applicable problems within the department and company.
Knowledge, Skills and Abilities:
- Knowledge of PhMIC products and pricing.
- Understand principles and practices of insurance underwriting.
- Interpret premium algorithms and coverage nuances.
- General understanding of insurance accounting and Company financial statements.
- Communicate effectively with others (oral and written).
- Analyze complex issues and make critical decisions.
- Maintain records, preparereports and conductcorrespondence related to the work.
- Interpret and applylaws, rules and regulations, as well as complex policyand contract coverage.
- Obtain and use sensitive information discreetly and objectively, both internal and external.
- Determine when to escalate concerns to the appropriate level of management.
- Follow oral and written directions.
- Correct English usage, spelling, grammar, vocabulary and punctuation.
- Work effectively with others in a team environment.
- Contribute effectively to the accomplishment of team or work unit goals, objectives and activities.
- Establish and maintaineffective working relationships with those contacted in the courseof work.
- Excellent customer serviceskills.
- Ability to organizeand prioritize work.
- Work independently and demonstrate drive and initiative.
- Ability to handlemultiple tasks at once.
- Meet definite deadlines and deal with pressure situations.
- Collect, interpret, and input data efficiently and accurately.
- Use computer and related softwareeffectively.
Experience and Education Qualifications
Actuarial Analyst I
Actuarial Analyst II
- Bachelor’s Degree and 3 yearsof related experience; or
- Master’s Degree
Special Requirements, Licenses, and Certificates
- Degree in actuarial science, mathematics, finance or related field
Work Environment
- Primary work environment is in a climate-controlled office setting
- Work may involvetravel to attendmeetings at otherlocations
