Hybrid work schedule
Buffalo, NY
Merchants Insurance Group, a leading Property and Casualty Insurer in the Northeast, is looking for an Actuarial Analyst for our Corporate Actuarial team based in our Corporate Headquarters in Buffalo, New York.
The Actuarial Analyst will become part of a dedicated actuarial team focusing on providing support and assistance to the Product Manager in developing pricing proposals. Responsible for developing profitability and trend analyses designed to assist management in their decision-making process.
Merchants Insurance Group, rated A- (Excellent) with a stable outlook by the A.M. Best Company, is proud to be one of Buffalo Business First's Best Places to Work in Western New York (2023-2025), a Fast Track company (2019-2024), and a Top Private Company (2019-2024). Merchants has been granted Ward's 50 designation as a top-performing property-casualty insurance company for four consecutive years. In October 2024, Newsweek and Statista included Merchants Insurance Group on their first-ever America's Most Reliable Companies list, which highlights organizations that other companies can feel confident doing business with in 2025. Of 1,500 B2B companies evaluated, Merchants was one of only 300 companies to make the list.
Merchants offers its colleagues a Hybrid work schedule. The Hybrid work schedule requires 8 full days per month in the office, with the option to work the remaining days at home or in the office. This exciting Hybrid Work benefit offers colleagues a flexible work schedule with the ability to remain connected with their Merchants team and colleagues.
Essential Duties and Responsibilities include, but are not limited to:
- Assist Product Manager in developing pricing proposals.
- Responsible for developing profitability and trend analyses designed to assist management in their decision-making process.
- Develops rate indications in accordance with generally accepted actuarial principles and company standards.
- Develops impact analyses and competitive analyses designed to assist Product Management in developing rate proposals.
- Prepares rate filing exhibits, forms and memoranda for submission to state insurance departments.
- Prepares files and exhibits to be used in systems rate implementation.
- Utilizes programming and data management skills to gather necessary data to be used for rate reviews.
- Understands the coverages underlying the insurance products being reviewed.
- Reviews bureau circulars for impact on company products.
Qualifications & Skills:
- Qualified candidates will have a 4 year degree in math, actuarial science, finance, economics or equivalent work related experience.
- Up to 2 years in the actuarial field or Property & Casualty insurance experience.
- 1 - 3 actuarial exams preferred, or a strong commitment to pursue exams.
- Excellent Excel skills required.
- Radar and Emblem or other ratemaking and modeling software experience is preferred.
- ResQ or similar reserve software knowledge is a plus.
- SQL experience preferred.
- PowerBI or Tableau experience is a plus.
- Ability to work in a team environment as well as independently.
- Exceptional organization, verbal and written communication skills are highly desirable.
- The ability to excel in a team environment.
Merchants Insurance Group Pay information:
Merchants Insurance Group offers a competitive pay scale. Merchants Insurance Group offers a competitive pay scale. The estimated salary for this role ranges from $65,000 - $80,000 based on leveling and geography, along with an equity component and a comprehensive benefits package. This range is merely an estimate; actual compensation may deviate from this range based on skills, experience and qualifications.
Merchants Insurance Group Benefits:
- The Actuarial Analyst qualifies for participation in the Merchants Insurance Group's Actuarial Student Program.
- Welcoming and positive work environment.
- Flexible work arrangements, including flex scheduling and summer hours.
- Hybrid work schedule. The Hybrid work schedule will require 8 full days per month in the office, with the option to work the remaining days per month at home or in the office.
- Colleague Appreciation Events.
- Competitive pay scale.
- Outstanding company bonus program.
- Generous paid time off package.
- Full Benefits: Health, Dental, Vision, Life Insurance, Short Term Disability, 401(k) employer match amount is 100% up to 6% of your annual contributions. You are immediately 100% vested in the employer match dollars.
- Tuition Reimbursement.
And many more exciting company benefits!! EOE
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.