Assistant Actuary - Hastings, United States - Hastings Mutual Insurance Company

Description

Hastings Mutual is currently looking for an Assistant Actuary to join its Actuarial Services team This is a great opportunity for an experienced Actuarial professional to support the meeting of our strategic goals regarding profitability, growth, and retention.

Position Overview

The Assisant Actuary supports the Actuarial Services Department to continuously refine HMIC pricing to meet corporate targets for profitability, growth, and retention. They proactively provide actuarial support through data management and analysis, research, and innovation. The position also assists in the development and implementation of new product pricing to build and/or maintain a competitive edge for HMIC's products in the marketplace.

Position Location & Work Format

This position is flexible in its location Candidates residing within the greater Hastings, Michigan, will be able to work a hybrid (combination of on-site and work-from-home) schedule as an alternative. Preference will also be given to candidates who reside within our six-state territory (Michigan, Indiana, Illinois, Wisconsin, Iowa, or Illinois). Hastings Mutual may consider candidates in other states to work remotely if elements of their application are strong. Generally, this role will work within our standard office hours of Monday - Friday, 8:00 am - 4:30 pm.

Position Duties & Responsibilities

• Manages projects in support of pricing utilizing accepted actuarial standards, methodologies, and knowledge gained through the pursuit of a professional designation in the Casualty Actuarial Society.
• Uses predictive modeling experience to contribute to development of accurate and effective risk assessment.
• Designs and develops moderate to highly complex actuarial analyses used in determination of the indicated rate level need for assigned lines of business.
• Works closely with the Director of Actuarial Services to develop appropriate pricing strategies to support business goals.
• Researches and determines appropriate analyses to be conducted for projects to make recommendations to achieve corporate goals.
  • Conducts or supervises these analyses.
• Conducts peer company analyses using a variety of resources and tools.
• Conducts deep data review and application of analytics for HMIC product lines identifying and recommending areas for improved profitability, growth, and retention.
• Provides intra-departmental technical support for pricing, ratemaking, and analytical tools and applications, including predictive analytics.
• Collaborates with Marketing, Underwriting, Claim, and Product to monitor market for product innovations.
• Prepares and analyzes actuarial data on a monthly and quarterly basis and communicates key observations and trends based on the analysis to the Director of Actuarial Services.
• Makes progress toward attaining a designation of Associate of the Casualty Actuarial Society (ACAS).
• Mentors one or more Actuarial Analysts, as assigned.
• Evaluates procedures and processes regularly and suggests alternatives or improvements.
• Assists external actuarial consultants with pricing reviews and other activities as needed.
• Develops expertise in the insurance business, including regulations, rating practices, and coverage issues both internally and in the marketplace.
• Actively participates in professional development, i.e. continuing education or self-improvement.
• Other duties as assigned by leadership, either verbally or in writing.

Candidate Requirements & Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or other related fields, or equivalent work experience required.
  • Advanced mathematical and statistical knowledge such as predictive analytics techniques required.
• Three years minimum of actuarial experience including the following required:
  • Experience with predictive modeling and analysis.
  • Experience using SQL and R and able to identify and resolve complex data issues.
• Pursuing Casualty Actuarial Society designation with at least 4 actuarial exams completed required.
• Prior experience in property and casualty insurance with a background in product development, pricing, or underwriting is preferred.
• Demonstrated excellent verbal and written communication ability.
• Demonstrated PC skills including proficient use of Microsoft Office products.
• Intermediate knowledge in the use of data sources and applications to conduct research.
• Fluent in analyzing data and reviewing analysis from others.
• Strong decision-making ability.

Our Commitment as an Employer

We value the strength of a diverse and inclusive workforce. Hastings Mutual is committed to providing equal opportunity for all employees and candidates in a work environment that does not tolerate any form of discrimination or harassment. Decisions related to employment are based on business needs, position requirements, and individual characteristics without regard to appearance, nationality, origin, race, color, religion, gender, sexual orientation, age, body, disability, veteran, family, marital status, or any legally protected class.

Hastings Mutual seeks to provide reasonable accommodation to disabled individuals in the hiring process in compliance with federal, state, and local law. Candidates requiring an accommodation to complete their job application or participate in the interviewing process are asked to notify the Talent Acquisition Specialist or contact us at

About Hastings Mutual Insurance Company

From our humble roots in 1885, providing coverage for windstorm damage, Hastings Mutual has evolved into a leading regional property and casualty insurance carrier, offering innovative products for businesses, farm owners, and individuals. We work with customers in six Midwestern states (Illinois, Indiana, Iowa, Michigan, Ohio, and Wisconsin). Hastings Mutual is known for its financial strength, high ethical standards, and culture of service and responsiveness.

The core of our ongoing success is our employees. Whether at the corporate offices in Hastings, Michigan, to our remote team members throughout the Midwest, Hastings Mutual is made up of talented professionals across multiple divisions and functional areas. Our commitment to our employees and work culture has been confirmed with our inclusion in the "Best and Brightest Companies to Work for in West Michigan" each year since 2011.

Hastings Mutual offers a friendly, family-like environment that values transparency and approachability. We recognize the hard work of our employees with many benefits, including fully paid certification training, a cafeteria, and fitness center at our corporate offices, ongoing professional development opportunities, and financial stability backed by our "A" rating from A.M. Best. We also have a long-term commitment to the communities in which we live and work, either through partnerships with local charitable organizations or through our own Hastings Mutual Charitable Foundation.

At Hastings Mutual, we're always looking for professionals of all experience and education levels to help us continue our more than 130-year history of successful, stable growth.