Reserving Actuary - Chicago

Allianz Global Corporate & Specialty
  • Job Purpose/ Role

    The main responsibilities of this role are to manage assigned topics and projects independently across the larger Reserving and Analysis team and to provide actuarial support for the assigned Line of Business (LoB) and within regional area of responsibility. This includes the preparation of data, updating of actuarial models and documentation of assumptions and results. Will also be directly involved in discussions with the business and will be responsible for maintaining a strong link to other Actuarial and CFO departments and Group functions.

  • Key Responsibilities

    ##Performing actuarial estimation of the loss reserves for assigned business area during the annual actuarial loss reserve exercise, as well as roll-forward valuations during year. ~crlf~##Documenting and communicating results to the stakeholders. ~crlf~##Monitoring of loss reserve development, especially unusual and large claims.~crlf~##Promoting close collaboration and interaction with the various business areas (Group, Underwriting, CFO, etc.) to foster mutual understanding of how business developments impact actuarial drivers in the financials. ~crlf~##Supporting Diagnostics Team in estimating normalized loss ratios.~crlf~##Supporting Risk Capital Modeling team in estimating reserve risk parameters.~crlf~##Managing and driving forward own area of responsibility or project for various reserving topics (reserving methodology, TP model governance, discounting, IFRS 17 development, Variation Analysis, etc.).~crlf~##Developing global actuarial approaches and processes, as well as enhancing actuarial models and analyses.~crlf~##Peer reviewing work from other team members.~crlf~##Mentor and provide guidance to junior team members.

  • Key Requirements/ Skills

    ##3-5 years of Actuarial experience;~crlf~##Business experience, preferably spanning multiple actuarial areas;~crlf~##Experience with multiple lines of business and preferably multiple types of business;~crlf~##Proven experience in communication of results to stakeholders;~crlf~##Demonstrable experience in international working environment (including business travel);~crlf~##Proven experience in developing, enhancing and implementing models, analyses and processes;~crlf~##College degree, preferably in Mathematics, Statistics or other appropriate discipline or qualified by experience in related discipline;~crlf~##ACAS or FCAS strongly preferred;~crlf~##Extensive computer skills (MS Office, including VBA and relevant expert systems such as Matlab, R, SQL or Java);~crlf~##Knowledge of market dynamics, standard concepts and approaches, regulations/compliance standards, and reporting requirements (e.g., reinsurance and underwriting knowledge, reserving techniques, data flows, etc.);~crlf~##Finance and Insurance know-how (ideally P&C), as well as understanding of complexities inherent in an insurance group (consolidation processes, legal vs management view) allowing for cross-departmental thinking and acting;~crlf~##Quantitative financial and risk modeling skills;~crlf~##Ability to identify patterns and root causes in complex data and to define processes to rapidly distill key issues and provide insight in various situations;~crlf~##Ability to understand, elaborate and convey information clearly and effectively in respect to the audience/ level of management (both verbal and in writing);~crlf~##Ability to positively influence others' actions, decisions, opinions or thinking resulting in positive outcomes; ~crlf~##Ability to persuade and motivate others without direct authority;~crlf~##Ability to identify and initiate appropriate actions to remediate issues that can be abstract/ambiguous and follow through on their remediation and~crlf~##Ability to travel up to 10%.

  • About Allianz

    Allianz is the home for those who dare – a supportive place where you can take the initiative to grow and to actively strengthen our global leadership position. By truly caring about people – both its 88 million private and corporate customers and more than 140,000 employees – Allianz fosters a culture where its employees are empowered to collaborate, perform, embrace trends and challenge the industry. Our main ambition is to be our customers’ trusted partner, instilling them with the confidence to grow. If you dare, join us at Allianz Group.~crlf~~crlf~Allianz is an equal opportunity employer. Everybody is welcome, regardless of other characteristics such as gender, age, origin, nationality, race or ethnicity, religion, disability, or sexual orientation.

    Allianz Global Corporate & Specialty (AGCS) is the Allianz Group's dedicated carrier for corporate and specialty insurance business. AGCS provides insurance and risk consultancy across the whole spectrum of specialty, alternative risk transfer and corporate business: Marine, Aviation (incl. Space), Energy, Engineering, Entertainment, Financial Lines (incl. D&O), Liability, Mid-Corporate and Property insurance (incl. International Insurance Programs).

    Worldwide, AGCS operates in 30 countries with own units and in over 210 countries and territories through the Allianz Group network and partners. In 2016, it employed around 5,000 people and provided insurance solutions to more than three quarters of the 'Fortune Global 500' companies, writing a total of €7.6 billion gross premium worldwide.~crlf~~crlf~AGCS SE is rated AA by Standard & Poor’s and A+ by A.M. Best.~crlf~~crlf~More information about careers at Allianz Global Corporate Specialty can be found at www.agcs.allianz.com/careers~crlf~~crlf~

Job Purpose/ Role

The main responsibilities of this role are to manage assigned topics and projects independently across the larger Reserving and Analysis team and to provide actuarial support for the assigned Line of Business (LoB) and within regional area of responsibility. This includes the preparation of data, updating of actuarial models and documentation of assumptions and results. Will also be directly involved in discussions with the business and will be responsible for maintaining a strong link to other Actuarial and CFO departments and Group functions.

Key Responsibilities

##Performing actuarial estimation of the loss reserves for assigned business area during the annual actuarial loss reserve exercise, as well as roll-forward valuations during year. ~crlf~##Documenting and communicating results to the stakeholders. ~crlf~##Monitoring of loss reserve development, especially unusual and large claims.~crlf~##Promoting close collaboration and interaction with the various business areas (Group, Underwriting, CFO, etc.) to foster mutual understanding of how business developments impact actuarial drivers in the financials. ~crlf~##Supporting Diagnostics Team in estimating normalized loss ratios.~crlf~##Supporting Risk Capital Modeling team in estimating reserve risk parameters.~crlf~##Managing and driving forward own area of responsibility or project for various reserving topics (reserving methodology, TP model governance, discounting, IFRS 17 development, Variation Analysis, etc.).~crlf~##Developing global actuarial approaches and processes, as well as enhancing actuarial models and analyses.~crlf~##Peer reviewing work from other team members.~crlf~##Mentor and provide guidance to junior team members.

Key Requirements/ Skills

##3-5 years of Actuarial experience;~crlf~##Business experience, preferably spanning multiple actuarial areas;~crlf~##Experience with multiple lines of business and preferably multiple types of business;~crlf~##Proven experience in communication of results to stakeholders;~crlf~##Demonstrable experience in international working environment (including business travel);~crlf~##Proven experience in developing, enhancing and implementing models, analyses and processes;~crlf~##College degree, preferably in Mathematics, Statistics or other appropriate discipline or qualified by experience in related discipline;~crlf~##ACAS or FCAS strongly preferred;~crlf~##Extensive computer skills (MS Office, including VBA and relevant expert systems such as Matlab, R, SQL or Java);~crlf~##Knowledge of market dynamics, standard concepts and approaches, regulations/compliance standards, and reporting requirements (e.g., reinsurance and underwriting knowledge, reserving techniques, data flows, etc.);~crlf~##Finance and Insurance know-how (ideally P&C), as well as understanding of complexities inherent in an insurance group (consolidation processes, legal vs management view) allowing for cross-departmental thinking and acting;~crlf~##Quantitative financial and risk modeling skills;~crlf~##Ability to identify patterns and root causes in complex data and to define processes to rapidly distill key issues and provide insight in various situations;~crlf~##Ability to understand, elaborate and convey information clearly and effectively in respect to the audience/ level of management (both verbal and in writing);~crlf~##Ability to positively influence others' actions, decisions, opinions or thinking resulting in positive outcomes; ~crlf~##Ability to persuade and motivate others without direct authority;~crlf~##Ability to identify and initiate appropriate actions to remediate issues that can be abstract/ambiguous and follow through on their remediation and~crlf~##Ability to travel up to 10%.

About Allianz

Allianz is the home for those who dare – a supportive place where you can take the initiative to grow and to actively strengthen our global leadership position. By truly caring about people – both its 88 million private and corporate customers and more than 140,000 employees – Allianz fosters a culture where its employees are empowered to collaborate, perform, embrace trends and challenge the industry. Our main ambition is to be our customers’ trusted partner, instilling them with the confidence to grow. If you dare, join us at Allianz Group.~crlf~~crlf~Allianz is an equal opportunity employer. Everybody is welcome, regardless of other characteristics such as gender, age, origin, nationality, race or ethnicity, religion, disability, or sexual orientation.

Allianz Global Corporate & Specialty (AGCS) is the Allianz Group's dedicated carrier for corporate and specialty insurance business. AGCS provides insurance and risk consultancy across the whole spectrum of specialty, alternative risk transfer and corporate business: Marine, Aviation (incl. Space), Energy, Engineering, Entertainment, Financial Lines (incl. D&O), Liability, Mid-Corporate and Property insurance (incl. International Insurance Programs).

Worldwide, AGCS operates in 30 countries with own units and in over 210 countries and territories through the Allianz Group network and partners. In 2016, it employed around 5,000 people and provided insurance solutions to more than three quarters of the 'Fortune Global 500' companies, writing a total of €7.6 billion gross premium worldwide.~crlf~~crlf~AGCS SE is rated AA by Standard & Poor’s and A+ by A.M. Best.~crlf~~crlf~More information about careers at Allianz Global Corporate Specialty can be found at www.agcs.allianz.com/careers~crlf~~crlf~


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