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Senior Actuarial Expert

Job Level:  Professional
Location: 

Chicago, IL, US, 60606

Due Date:  As soon as possible
Area of Expertise:  Actuarial
Unit:  Allianz Global Corporate & Specialty
Job Type:  Full-Time
Remote Job:  Remote working due to Covid 19
Employment Type:  Permanent
ID:  8955

Whether it’s airplanes, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, Allianz Global Corporate and Specialty (AGCS) have got the major risks fully covered when it comes to protecting businesses.

 

 

Job Purpose:

We are newly establishing an expert team within CFO Actuarial which will be responsible for bridging the knowledge and activities of the pricing and underwriting departments to the CFO Actuarial department, and to opine on the Pricing assumptions and Underwriting Policy. Our main focus will be top conduct oversight of the Pricing tools and methodology in use, and to support the assessment of the profitability of AGCS’ insurance portfolios, which will inform the Normalized Loss Ratio calculations and the Loss Reserve estimation.

 

You will review work from other team members inside the pricing oversight and larger Corporate Actuarial department and provide guidance to junior Actuaries.  You will work independently and are able to autonomously acquire the necessary information and methodology to fulfil your tasks.

 

Working at the front lines of the business, the role will involve extensive hands-on data work, as well as discussion and feedback rounds with the pricing actuaries and underwriting departments.

 

This is a great opportunity for an inquisitive individual who enjoys the challenge of pushing for answers.

 

Responsibilities:

In this role you will…

  • Promote close collaboration and interaction with the various business areas to foster mutual understanding and cooperation by conducting Pricing Oversight activities and supporting Smart Circles.
  • Review and opine on the newly established Pricing tools, and support Pricing with methodological questions and challenges.
  • Review major account Pricings and Underwriting action impacts. Support the review of Effective Rate Change calculations and forecasts, and summarize results in a dashboard.
  • Prepare and perform actuarial analysis for assigned business areas including documentation, communication and explanation of results.
  • Support the annual analysis of the normalized loss ratio for selected LoBs in NA.
  • Peer review work from other team members, as well as mentor and provide guidance to junior team members.
  • Keep abreast of leading market practice and drive innovation.
  • Manage and drive forward own area of responsibility or projects.

 

To be successful in the role:

You will have…

  • Bachelor’s Degree (ideally Master’s), preferably in Mathematics, Statistics or other appropriate discipline or qualified by experience in related discipline;
  • ACAS or FCAS designation;
  • At least 5 years of business experience, preferably spanning multiple actuarial areas;
  • Demonstrated experience with multiple lines of and preferably multiple types of business;
  • Experience communicating results to stakeholders;
  • Experience in international working environment desirable, including a willingness to travel;
  • Proven experience in developing/enhancing and implementing models/analysis and processes;
  • Extensive computer skills (MS Office - including VBA and relevant expert systems such as Matlab, R, SQL or Java, etc.);
  • Job specific knowledge with regards to market dynamics, standard concepts and approaches, regulations/compliance standards, and reporting requirements (e.g., reinsurance and underwriting knowledge, reserving techniques, data flows, etc.);
  • 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;
  • Quantitative financial and risk modeling know-how and skills;
  • Ability to identify patterns and root causes in complex (e.g., ambiguous, from various sources) data and processes to rapidly distill key issues and provide insight in various situations;
  • Ability to understand, elaborate and convey information clearly and effectively with respect to the audience/level of management (both verbally and in writing);
  • The ability to positively influence others' actions, decisions, opinions or thinking resulting in positive outcomes;
  • Ability to persuade and motivate others without direct authority; and
  • Ability to identify and initiate appropriate actions to remediate issues that can be abstract/ambiguous and follow through on their remediation.

 

 

Here are a few reasons why you should join AGCS:

  • Hybrid working model, which recognizes the value in a balance between remote and office-based working, giving you the flexibility to organize the way you work
  • An exciting and versatile job with an opportunity to work alongside skilled and specialized colleagues from all over the world
  • An environment where innovation and challenging the status quo is encouraged
  • Wellbeing policies/initiatives to support a positive work life balance
  • A competitive compensation and benefits package including generous bonus scheme 
  • A large portfolio of continuous learning opportunities to help you stay relevant in your current role, grow into future roles and meet the demands of the workplace
  • Diverse and inclusive culture where you will be accepted for who you are and empowered to use your voice to help others find theirs

 

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us.

 

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.

 

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals.  Worldwide, AGCS operates with its own teams in 31 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2020, AGCS generated a total of €9.3 billion gross premium globally.

 

In 2020, AGCS announced a new strategy and transformation program called New AGCS which aims to comprehensively transform the company, creating a mutually beneficial relationship with stakeholders.

 

This  is  an  exciting  time  to  join  AGCS  as  we  continue  on  our  journey  of  transformation, regaining market leadership  and  achieving  success  together.  You can grow your career through meaningful work supporting our customers, while learning from expert colleagues.

 

Allianz is an equal opportunity employer and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation. Diversity of minds is an integral part of Allianz’ company culture.

 

Let’s care for tomorrow.


Nearest Major Market: Chicago