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Arch Insurance Group, Inc., seeks Actuarial Analyst, Reserving, in Jersey City, NJ

Job Duties:                                    

Own the quarterly reserve booking for assigned Executive Assurance & Watford business units (i.e. Arch reserve analyses and reports, including discussions with claims, underwriters and outside consultants and auditors) and communicate results to the senior management. Execute deep-dive analysis of assigned business units to uncover impactful analytics and insights through our DRRIVE analysis. GAAP and SAP Financial Reporting (e.g. actuarial opinions, actuarial reports, statement of actuarial opinion and other statutory statements). Design, create and maintain a booking tool for Watford for quarterly reserve and communicate results to the Watford management. Assist/led training programs for new hires. Collaborate regularly with Pricing, Claims, Finance, and Underwriting teams to develop a deep understanding of line of business trends, identify emerging claims that could impact results and assist in developing proposals for corrective action in a timely manner. Conduct yearly update to Loss Development Factors and Expected Loss Ratio for assigned business. Build new tools and improve existing diagnostics to efficiently execute on quarterly reserve reviews.                         

Qualifications:                                                                

• Master’s degree in Mathematics, Actuarial Science, Statistics or related quantitative field, plus 1 year of experience in the job offered or related position.

Must have:

• 1 year of experience with VBA and SQL programming.

• 1 year of experience creating and maintaining dashboards in Power BI or any other related BI application.

• 1 year of experience with tool building/process automation.

• 1 year of P&C work experience in Financial or Professional lines, including D&O.

• 1 year of experience with reserving methods to structure, access, and manage data sets for modeling and managing risks including chain ladder/link ratio methods, a priori/expected loss methods, frequency/severity methods, and berquist-sherman adjustment methods.

• 1 year of experience with relevant tools to structure, access, and manage data sets for modeling and managing risks including Microsoft Office tools (Excel, VBA, PowerPoint, PowerBI) and data management tool SQL.

• Passed at least 4 actuarial exams which must include 2 or more CAS specific exams.

For individuals assigned or hired to work in California, Colorado, Jersey City, NJ; New York State; and/or Washington State, the base salary range is listed below. This range is as of the time of posting. Position is incentive eligible.

Salary $119,330 - $120,000/year

• Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs.  The above range may be modified in the future

• Click here to learn more on available benefits

Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch’s Talent Acquisition team.