LOCATION: Altona, Winnipeg or Virtual in Manitoba
REPORTS TO: VP Data and Analytics (or Actuarial Manager)
DIRECT REPORTS: N/A
Red River Mutual is a progressive insurance company with a focus on our customers and employees. We believe everyone has a right to feel safe and protected and to know that someone is looking out for them. So, we treat our employees like family members – we’ll be honest with them, support them, offer a listening ear, admit when we’re wrong and be a positive force in their lives and in our communities.
PURPOSE OF POSITION:
The Actuarial Analyst will play a key role in supporting the organization’s pricing strategy as we develop our in-house actuarial expertise for the company. The successful candidate will participate actively in the updating of cutting-edge pricing techniques in a way that minimizes the adverse impact on customers and spurs profitable growth while contributing to the development in management, financial and actuarial data, models, or tools.
IS THIS ROLE FOR YOU?
- You want to apply your expertise to support a growing organization
- You like challenging the status quo in actuarial pricing and analytics
- You enjoy working with a small tight-knit actuarial team
- You want to play a key part in developing the actuarial support for Red River Mutual
KEY RESPONSIBILITY AREAS:
- Use advanced modeling techniques and actuarial analysis techniques to develop rate indications and segmentation models for all our lines of business.
- Perform pricing reviews for all lines of business; make quality recommendations and provide implementation support when required.
- Produce and analyze reports that monitor the evolving trends in the book of business and recommend rating and underwriting actions based on observations.
- Perform monitoring activities to assess the quality of our insurance portfolio, and track the rates, market share and insurance results of our competitors.
- Maintain, modify, and validate predictive statistical models; interpret the model results to leaders.
- Contribute to developing management, financial and actuarial data, models, or tools.
- Understand, build and improve the pricing algorithms for our products using modern modeling techniques.
- Maintain, develop, and validate actuarial reports to meet business needs.
- Support the business and overall team by providing general analytical support to the Actuarial function.
- Gather actuarial data and information to complete analysis as directed; solicits feedback on improvements to reporting and communications.
- Research, extract, and manipulate complex data from all relevant sources. Identify relationships, problems/issues, and assess data quality
- Analyze the needs of business partners, researching multiple data sources and identifying actuarial requirements to design innovative solutions for complex challenges
- Assist in communicating analysis insights and decisions to business leaders. Translates actuarial. analysis to understandable business metrics fit for audience.
- Propose quality solutions and provide implementation support when required.
- Take ownership of product structure, algorithms, pricing tables and rules in all systems.
QUALIFICATION AND SKILLS:
- Minimum education of a university degree in Actuarial Mathematics, Statistics, Mathematics or another related field of study;
- 1 + years of actuarial analysis experience.
- Actively working towards the ACAS/FCAS designation.
- Completion of 3 or more actuarial exams would be considered an asset.
- Experience working with predictive analytic tools and techniques.
- Experience in Python and R would be considered an asset.
- Excellent written and oral communication and interpersonal skills in business and user-friendly language;
- Process driven with ability to document, maintain and adhere to standards, procedures, and processes;
- Adaptable and flexible to changing business needs and priorities;
- Exceptional planning, organization and prioritization skills;
- Highly motivated work ethic and able to be self-directed to complete tasks;
- High attention to detail and quality standards;