Pricing Actuary/Modeler (Commercial Lines)

Job Category: Actuarial

Minimum Salary: $117,000.00

Maximum Salary: $225,000.00

Schedule: Full-Time

Flexible Time Off Annual Accrual: 20 days

Pay Philosophy:

The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications, and location. The full salary range reflects the competitive labor market value for all employees in these positions across the national market.

It provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

Description:

The Global Risk Solutions (GRS) Capital & Analytics group is seeking a highly motivated individual to join its Insurance Risk Parameterization & Analytics team. This individual will manage a small team of modelers responsible for designing, developing, and implementing dynamic UW Risk modeling and analysis for the Global Risk Solutions organization.

They will support UW Risk parameterization, modeling, and validation as well as wide-ranging uses of the models. The successful candidate will have strong analytical abilities, enjoy developing statistical models and processes, working with large data sets, and diving deep into drivers of line of business dynamics.

Global Risk Solutions is a leading provider of commercial, specialty insurance, and reinsurance products, delivering a wide array of innovative products, deep technical expertise, strong client engagement, and market-leading performance worldwide.

The product lines include workers’ compensation, commercial multi-peril, surety bonds, crisis management, marine, terrorism, management liability, cyber liability, and energy.

Responsibilities:

Collaborate with other team members to achieve the following goals:

• Parameterize UW Risk excluding natural catastrophe risk
• Build and maintain UW risk models
• Develop new solutions and improvements for statistical models and processes used to calculate these inputs
• Implement timely and practical solutions to complex problems
• Validate model parameterization and model function
• Collaborate with Underwriting and Actuarial to understand the business and guide development of Risk Analytic tools that accurately reflect the business

Additional Responsibilities:

• Regularly update model parameters and assumptions for multiple models
• Develop new solutions and improvements for statistical models and processes used to calculate these inputs
• Implement timely and practical solutions to complex problems
• Lead collaborative projects with Finance, Reserving, Pricing, and Underwriting to better understand the business and reflect that understanding in model parameters
• Communicate processes and parameterization results to stakeholders outside the team
• Prepare actuarial research and complex reports, present findings and recommendations
• Provide clear and concise communication of technical actuarial work to technical and non-technical audiences, and on cross-functional teams
• Maintain clear and concise documentation of methods and activities
• Interact with and provide actuarial technical assistance and information to peers, senior managers, and others within and outside of the organization

Qualifications:

• Bachelor's degree required; Master’s degree preferred
• Associateship or Fellowship in the Casualty Actuarial Society (ACAS/FCAS) or in Society of Actuaries (ASA/FSA) designation preferred or comparable education/designation with relevant experience
• Minimum 5-7 years relevant experience required
• Very strong analytical skills with solid understanding of core casualty actuarial methods, techniques, and standards
• Comfort with solving new problems and generating ideas for improving existing processes
• Experience communicating analysis and technical concepts

Preferred Qualifications:

• Expert in MS Excel and experience coding; Experience with Visual Basic for Applications (VBA) and Capital modeling software, R, and Python preferred
• Experience with stochastic financial modeling and forecasting preferred
• Experience parameterizing reserve risk and UW risk preferred

Fair Chance Notices:

• California
• Los Angeles Incorporated
• Los Angeles Unincorporated
• Philadelphia
• San Francisco

As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers.

We seek to create an environment where employees can succeed, both professionally and personally.

We are proud to support a diverse, equitable, and inclusive workplace, where all employees feel a sense of community, belonging, and can do their best work.

We value your hard work, integrity, and commitment to make things better, and we put people first by offering you benefits that support your life and well-being.