Please note, employment offered to residents in the following states only: Connecticut, Delaware, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont.
At Preferred, we understand the importance of holistic health. To meet the diverse needs of our employees, we offer a comprehensive set of benefits:

KEY CAPABILITIES FOR SUCCESS:

• Ability to identify & resolve complex problems.
• Ability to craft innovative approaches to challenges, adapt to new regulations, technologies, and evolving industry & business conditions
• Communicate clearly and share data, information, facts, and ideas in a cooperative and supportive manner with attention to detail
• Ability to work with a team of business professionals to achieve the best outcomes
• A strong sense of ownership over the performance of assigned segments
• Conduct business with honesty, fairness, respect, and transparency
• Effective management of team member efforts

QUALIFICATIONS:

• Bachelor’s degree in Actuarial Science, Mathematics, or a related area.
• 7-15 years of actuarial experience in comparative areas
• Successful completion of 6 full actuarial exams
• Associate of the Casualty Actuarial Society (ACAS) required
• Strong knowledge of property and casualty insurance products
• Sophisticated computer skills including Access, Excel, SQL, and SAS
• Reserving experience not required but would be a plus
• Experience working with Pricing Models, but not necessarily modeling experience

The Senior Associate Actuary will provide actuarial sophistication to ensure the adequacy of our capital continually improves while increasing the likelihood of achieving expected levels of performance for assigned segments of Preferred Mutual business.
Success in this position will be characterized by continual improvement in the Risk-adjusted Return on Equity, in risk-adjusted capital adequacy, revenue growth, and achievement of performance goals for the assigned segments of business.
The Senior Associate Actuary will:

Core Functions:

• Have ownership over the financial performance of assigned business segments (Auto & Umbrella):
• Support pricing, reserving, and modeling projects.
• Assist in evaluating rate adequacy and making recommendations for rate changes.
• Coordinate with Product Development and Underwriting to maintain a competitive position of rates
• Assist in reinsurance pricing analysis and support treaty negotiations.
• Conduct deep-dive analyses into emerging market trends, competitor pricing strategies, and industry developments.
• Review actuarial methodologies and implement newer techniques
• Ensure compliance with regulatory requirements and actuarial standards.
• Manage the technical efforts of a team of actuarial analysts/trainees (project management)

Data Analytics/Reporting

• Work with Underwriting and Analytics to implement changes to improve performance
• Help the Management and business teams understand the results through effective analysis and communication
• Become an expert in the use of company data sources
• Partner with the Data & Analytics team to:
• Ensure effective actuarial reports and dashboards
• Identify and adjust rating algorithms to grow the book of business.
• Monitor emerging trends in both claims and premiums
• Develop models & rating algorithms in partnership with Underwriting & Sales
• Monitor performance of Pricing/Underwriting Models and change as necessary