The world isn’t standing still, and neither is Allstate. We’re moving quickly, looking across our businesses and brands and taking bold steps to better serve customers’ evolving needs. That’s why now is an exciting time to join our team. You’ll have opportunities to take risks, challenge the status quo and shape the future for the greater good.
You’ll do all this in an environment of excellence and the highest ethical standards – a place where values such as integrity, inclusive diversity and accountability are paramount. We empower every employee to lead, drive change and give back where they work and live. Our people are our greatest strength, and we work as one team in service of our customers and communities.
Everything we do at Allstate is driven by a shared purpose: to protect people from life’s uncertainties so they can realize their hopes and dreams. For more than 89 years we’ve thrived by staying a step ahead of whatever’s coming next – to give customers peace of mind no matter what changes they face. We acted with conviction to advocate for seat belts, air bags and graduated driving laws. We help give survivors of domestic violence a voice through financial empowerment. We’ve been an industry leader in pricing sophistication, telematics, digital photo claims and, more recently, device and identity protection.
We are the Good Hands. We don’t follow the trends. We set them.
Job Summary:
The Actuarial Reserving & Financial Support department is responsible for assuring that Allstate’s reserves for Property-Liability losses and claims expenses are adequate, accurately recorded, and properly disclosed.
The P&C Associate Actuary (Reserving) job is responsible for developing, managing and leading projects in support of reserving insurance business utilizing accepted actuarial standards, as well as methodologies and knowledge. This role works closely with reserving, finance, claims, and product senior leadership and key business partners to develop and execute appropriate reserving strategies of high complexity to support business goals related to personal line coverages. Oversight for managing a team of analysts.
Key Responsibilities:
- Uses best practices to develop and ensure appropriateness of highly complex, high impact actuarial methodologies to influence business decisions with personal lines coverages
- Provides thought and/or technical leadership, including contributions to improvement, development and innovation, and often serves as a reserving subject matter expert
- Plans, implements, manages, and/or contributes on projects that are moderate to high complexity and are of large scale using accepted project management standards that cross multi-disciplinary areas with no guidance
- Reviews, evaluates and communicates appropriateness of highly complex actuarial techniques and results to team, leadership and external groups that are well understood and to influence business decisions
- Leads a team of people and provides input on talent management aspects to leadership
- Responsible for selecting, reviewing, using and ensuring quality of data used to perform moderate to highly complex actuarial services and determination of appropriate tool utilization
- Leverages understanding of insurance business, products, markets and regulatory environment to influence reserving strategies and business decisions
Preferred Qualifications:
Education and Experience
- Bachelor’s degree required – preferably in related field of study such as actuarial science, math/applied math, statistics/applied statistics
- 7+ years of property and casualty pricing/reserving/modeling experience
Certificates, Licenses, Registrations
- FCAS designation preferred
Functional Skills
- Demonstrated advanced knowledge in the use and ability to learn a wide variety of tools, data sources and computer applications
- Advanced communication skills, including the ability to present written and verbal interpretations of highly specialized terms and data, to multi-disciplinary groups and various organizational levels
- Advanced experience in leading the development/application of many types of actuarial models/methods as well as evaluating models/methods
- Extensive reserving, product, price, risk management and insurance regulation knowledge, including professional standards of actuarial techniques
- Advanced project management skills to independently handle multiple projects of high complexity, that cross multi-disciplinary groups
- Proven management experience required, including ability to train, develop and mentor people leaders
Compensation offered for this role is $130,000.00-$188,500.00 per year and is based on experience and qualifications.
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
Good Work. Good Life. Good Hands®.
As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life — including a generous paid time off policy. For a full description of Allstate’s benefits, visit allstate.jobs/benefits/
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Allstate generally does not sponsor individuals for employment-based visas for this position.
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Working at
Allstate
Allstate Corporation is one of the largest personal lines insurers in the United States, offering a range of insurance products including auto, home, renters, and life insurance. The company was founded in 1931 and is headquartered in Illinois, with operations in the United States, Canada, and other countries. Allstate is known for its innovative use of technology to improve the insurance experience for its customers, including the use of telematics to monitor driving behavior and offer discounts to safe drivers. The company also offers a variety of insurance products and services through its subsidiary companies, including Allstate Financial and SquareTrade. In addition to insurance, Allstate provides a range of financial services, including retirement planning, investment products, and banking services. The company is committed to social responsibility and supports a number of community initiatives, including disaster response and recovery efforts, education programs, and workforce development. Overall, Allstate is a respected leader in the insurance industry, known for its innovative products, financial stability, and commitment to social responsibility.