.png)
Actuary/Actuary & Actuarial Team Lead (Johnston, RI)
AIPSO is a management organization and service provider for various insurance industry groups responsible for administering the residual market. We are a national organization that serves local customer needs. Centralization and standardization are key to many AIPSO services because of the inherent economies of scale and other efficiencies. However, our organization is based on customer focus and recognizes the need for flexibility in serving customer groups with diverse interests.
Essential Duties & Responsibilities:
- Lead loss reserve analyses for Auto Plans and residual market mechanisms, including IBNR estimation and reserve segmentation.
- Interpret and apply state-specific regulatory requirements to develop compliant and actuarially sound loss reserve recommendations.
- Prepare Statements of Actuarial of Opinions, including actuarial exhibits and supporting documentation.
- Maintain and improve reserving methodologies, development patterns, and trend selections as related to the loss reserving process. Including maintaining internal IBNR reserving templates.
- Present reserve results, drivers, and uncertainty considerations to senior leadership, boards, auditors, and regulators.
- Coordinate closely with Finance and Accounting on booked reserve entries, balance sheet impacts, and interactions with funding, and assessments.
- Ensure reserving approaches reflect current claims operational practices, claim settlement patterns, legislative changes, and large-loss handling strategies.
- Advise senior management on actuarial methods, assumptions, and strategic loss reserving implications.
- Assist in the preparation of materials for regulators, governing committees, and advisory boards.
- Lead cross functional team in monthly reserve review.
Education:
Bachelor's degree (BA/BS) from four-year college or university majoring in math, statistics or related field preferred. Attainment of Fellow of the Casualty Actuarial Society (FCAS)..
Experience:
8 or more years’ experience in casualty actuarial (including loss reserving) required. Familiarity with formalized project management methodology is preferred.
Skills & Knowledge:
- Advanced proficiency in Excel and statistical software.
- Proficient in the use of Microsoft Office productivity tools (e.g. Outlook, Word, Excel) to manage work. Strong spreadsheet and technical skills to use databases and pivot tables.
- Effective problem-solving skills, including ability to analyze complex issues, find the root cause of the problem and consider a wide range of alternatives before acting.
- Demonstrate strong verbal and written communication skills, including ability to effectively present information and respond to questions from groups or individuals.
- Ability to multi-task and demonstrate flexibility while maintaining attention to detail.
- Demonstrate excellent organizational skills.
- Mathematical skill and reasoning ability to validate data, ensuring accuracy presented in reports and exhibits.
- Member of the American Academy of Actuaries (MAAA) and Casualty Actuarial Society (CAS); ability to maintain certification continuing education requirements.
- Ability to work independently and interact professionally and effectively in a team environment.
Salary Range: $152,900 - $244,300 / $167,000 - $266,800 Annual. Actual salary for this position will be determined by a number of factors, including the scope, complexity, and location of the role as well as the cost of labor in the market; the skills, education, training, credentials, and experience of the candidate; internal equity and other conditions of employment.
AIPSO is an equal opportunity employer. To this end, all employment related decisions are made on a non-discriminatory basis and in full compliance with federal, state, and local laws prohibiting discrimination in employment.
This is a management position
This is a full time position