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Job ID: 

R20896 Senior Pricing Actuary or Pricing Actuary - Commercial Lines (open to remote) (Open)

Compensation may vary based on the job level and your geographic work location.

Compensation Minimum:$109,000

Compensation Maximum:$191,000

Summary:

The Sr. Pricing Actuary is a credentialed Actuary responsible for development and significant revisions to ratemaking methodologies for the line of business. Develops and implements statistical models and conducts other advanced Actuarial analysis. Leads ratemaking research efforts for the line of business and provides peer review of analysis and completed work products. Develop and apply risk pricing methodologies and models (Reinsurance Division only).

Job Description:

Primary Accountabilities

Research & Development (40%)

• Provide actuarial expertise and consultation on product development.
• Leads development of pricing for new products and rating structures.
• Explores new concepts, statistical models, and data sources to deliver innovative solutions for the business.
• Represents Pricing on various data efforts, including dataset development and consultation on data and analytical development.
• Responsible for developing classification ratemaking methodologies and models for the line of business (not including the Reinsurance Division).

Ratemaking / Pricing (40%)

• Provides recommendations and significant revisions to ratemaking methodologies.
• Provides expertise for all aspects of indication development and owns the recurring process; utilization of catastrophe models to develop recommendations for ratemaking and exposure concentration analysis.
• Responsible for rate of return analysis.
• Provides additional analysis to support complex business partner requests.
• Provide insights and develops recommendations to contribute to pricing strategies and P&G planning.
• Maintains awareness and thorough understanding of the state`s business performance indicators/measures and state specific issues.
• Works with business partners to develop rate recommendations and influence rate level changes.
• Facilitate the rate review process for the line of business and actively contributes to the pricing committee meetings to support the pricing strategy.
• Develops relationship with core business partners and provide proactive insights and solutions to address specific business concerns.

Other Duties (20%)

• Responsible for peer review of work products.
• Monitors industry and competitor trends to determine potential impact to American Family and Actuarial strategies and solutions.
• Actively pursues continuing education through formal and informal educational programs.
• Represent the pricing department on various projects and initiatives.
• Acts as a resource and a mentor to help develop staff.