Come work for a worldwide market leader in a professionally progressive and dynamic environment! Euler Hermes offers a variety of career opportunities along with a comprehensive salary and benefits package including medical, dental, and vision benefits, along with 9% annual 401k contribution, tuition reimbursement, paid time off, and annual bonus potential, for all eligible associates and more.
Assist VP/Actuary in evaluating the company’s loss reserves levels, and assist in the completion of internal and external loss reporting requirements. Assist the VP/Actuary in producing the required loss-related items to satisfy the increased oversight brought on by the European Union’s Solvency II regulation including the year-end and quarterly reports for the parent company’s review. Prepare annual Own Risk and Solvency Assessment (ORSA) report and the Underwriting Opinion on Pricing for Euler Hermes North America Insurance (EHNA) to the parent company.
•Prepare quarterly financial reports to parent company to insure compliance with Solvency II Technical Provisions and controlling requirements. Provide weekly reports to management regarding filed claim activity.
•Evaluate case reserves monthly in order to analyze trends within the claims data. Maintain claims databases, run queries on the databases, and produce reports about the data within the databases.
•Assist in evaluating incurred but not reported (IBNR) reserves monthly to establish a proper level of these reserves by product line.
•Assist the finance department in the monthly closing of the financial accounts.
•Assist in completing timely and accurate quarterly reserve reviews that are supplied to management.
• Provide data and calculations required by the external auditors in support of published financial numbers at each quarter end and year end.
•Provide data requested by the finance department in support of monthly loss reporting package that is sent to the parent company.
•Provide support to the finance department in the preparation of the regulatory reporting requirements of the US and Canada.
•Develop knowledge of the data elements used by the risk capital model of the parent company in order to complete the Solvency II requests.
•Review historical loss/expense experience in evaluation of new product pricing.
•Analyze loss experience by business segmentation to develop opinion on underwriting.
•Travel 1-2 times per year internationally for training and/or department meetings.
•(5) years of experience in the actuarial field or three (5) years of risk management control ling experience involving European Union’s Solvency II Directive (preferred)
•Must have some experience working with Own Risk and Solvency Assessment (ORSA); calculating credit risk, reserve risk, premium risk, and market value margin; and with risk-based pricing methodologies
•Experience in the Property & Casualty field preferred
•Knowledge of Solvency II Technical Provisions and reporting requirements preferred
•Proficiency with Excel and Access/SAS. Demonstrated working knowledge of loss reserving software and database management. Demonstrated organizational and time management skills.
•Bachelor’s degree or foreign equivalent in Mathematics, Statistics, Actuarial Science, Finance or a related field
Interested applicants should submit an updated resume.
About Euler Hermes
Euler Hermes is the world’s leading credit insurer with 100 years' history. More than 6,000 employees in over 50 countries assist companies of all sizes and in every industry sector to develop their business securely. Euler Hermes is a subsidiary of Allianz, a global insurer with 150,000 employees and more than 75 million clients.
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