Associate Actuary - Erie Insurance

Division or Field Office:

Actuarial Division
Department of Position: Pricing Department
Work from:
Corporate Office in Erie, PA Salary Range:
$53.76-$85.88*

salary range is for thislevel and may vary based on actual level of role hired for

*This range represents a national range and the actual salary will depend on several factors including the scope and complexity of the role and the skills, education, training, credentials, location, and experience of an applicant, as well as level of role for which the successful candidate is hired.Position may be eligible for an annual bonus payment.

At Erie Insurance, you're not just part of a Fortune 500 company; you're also a valued member of a diverse and inclusive team that includes more than 5,000 employees and over 2,200 independent agencies. Our Employees work in the Home Office complex located in Erie, PA, and in our Field Offices that span 12 states and the District of Columbia.

Position Summary

Manages actuarial research projects, performs complex data analysis, and makes strategic recommendations in support of ERIE's property/casualty product pricing, enterprise risk management, loss reserving, data science, and/or predictive modeling disciplines.

Erie Insurance is looking for an Associate Actuary to assist other staff members during rate reviews. This is aTEMPORARYposition, working up to 25 hours per week for a period of 6 months.

Duties and Responsibilities

Conducts complex rate reviews, prepares in-depth rate studies, and provides pricing recommendations. Acts as a project coordinator for the rate review process. Leads rate review project teams composed of product development, underwriting, claims and sales personnel. Directs the preparation of materials to support state insurance department rate filings, manual pages, and system rate tables.

Conducts complex loss reserving reviews and in-depth claims-related studies. Provides reserving recommendations. Prepares materials to support financial reports, leadership communications, and statements of actuarial opinion.

Performs complex risk assessments, recommends risk responses, and builds enterprise risk reports. Builds and maintains sophisticated capital and catastrophe models, and otherwise supports ERIE's enterprise risk management program. Supports reinsurance decision making with complex analysis and informed recommendations.

Provides advanced data insights and builds predictive models for pricing, claim management, marketing, underwriting, product, and other enterprise initiatives. Recommends solutions for business problems using a data-driven focus and data science techniques. Uses sophisticated statistical tools to perform complex analysis and summarize findings.

Participates on strategic studies and other corporate projects and teams as needed. Performs advanced research in support of enterprise goals and initiatives.

Challenges assumptions, methodologies, and strategic direction in support of improving ERIE. Designs and improves procedures and formats to enhance decision support.

Presents studies, findings, risks, and recommendations to senior management and communicates with other departments as required.

Applies an extensive knowledge of actuarial procedures used by ERIE, competitors, rate bureaus, rating agencies, and regulators. Maintains contemporary knowledge of generally accepted actuarial methods, professionalism requirements, and standards of practice.

Coordinates and provides training, direction, and technical assistance to staff on ERIE and industry practices, data sources, and tools. Educates other areas on actuarial topics.

Represents ERIE at hearings and on industry and actuarial organizations and committees.

Visits field offices, Agents, and/or regulators as required to present actuarial information.

The first four duties listed are the functions identified as essential to the job. Essential functions are those job duties that must be performed in order for the job to be accomplished.

This position description in no way states or implies that these are the only duties to be performed by the incumbent. Employees are required to follow any other job-related instruction and to perform any other duties as requested by their supervisor, or as become clear.

Competencies

Self-Development

Collaborates

Cultivates Innovation

Instills Trust

Decision Quality

Values Diversity

Nimble Learning

Customer Focus

Optimizes Work Processes

Ensures Accountability

Information Management Skills

Job-Specific Knowledge

Proofing Text And Numbers

Coding And Converting

Qualifications

Bachelor's degree in mathematics or a related field required. Achievement of the Associate in the Casualty Actuarial Society (ACAS) designation required. Three years of previous experience in pricing, reserving, enterprise risk management, data science, predictive modeling, or a related actuarial field, including mastery of actuarial techniques required. Ability to improve and enhance actuarial processes and procedures required. Proficiency in spreadsheet, database and related software required. Previous programming experience required.

Physical Requirements

Lifting/Moving 0-20 lbs; Occasional (
Lifting/Moving 20-50 lbs; Occasional (
Driving; Occasional (
Pushing/Pulling/moving objects, equipment with wheels; Occasional (
Manual Keying/Data Entry/inputting information/computer use; Often (20-50%)

Climbing/accessing heights; Rarely

Ability to move over 50 lbs using lifting aide equipment; Rarely

Nearest Major Market: Erie