Philadelphia PA

Associate

Qualified

Life

Health

Property & Casualty

Reserving

Reporting

Risk

Systems

Coding

Pricing

Excel

Berkley

Berkley Construction Solutions (BCS) offers lead and excess liability capacity to the commercial construction industry. Our team of dedicated, experienced excess construction specialists underwrites practice and project business for medium to large contractors across the U.S. At BCS, our guiding principles are authenticity, trust, and passion. The team culture is inclusive, high energy, and fun.The company is an equal opportunity employer.The Actuary is responsible for ensuring that price levels and loss reserves are adequate (pricing and reserving), assessing the profitability of the business being underwritten (profitability analysis), and assisting finance with financial reporting requirements. The Actuary will provide management with research and analysis required for strategic initiatives, while also assisting in the development, maintenance, and oversight of various databases, software, and other technological tools in support of Berkley Construction Solutions.<ul><li>Strong commitment to the WRBC/Berkley Construction Solutions culture: innovative, transparent, and engaging.</li><li>Lead the completion of rate reviews and indications; supports price monitoring and development of company pricing strategies.</li><li>Collaborate with underwriting to meet their business needs from a pricing/profitability perspective.</li><li>Work with underwriting to monitor, evaluate, and continue the development of Benchmark Pricing Tools for purposes of monitoring and measuring rate adequacy.</li><li>Collaborate with the data management team in developing and maintaining data as required for reserving and reporting needs.</li><li>Responsible for monthly rate monitor and actual versus expected reporting and analysis.</li><li>Leads the preparation of loss and expense reserves estimates. Responsible for determining expected loss ratios during the annual budgeting process.</li><li>Responsible for profitability analysis to determine if desired returns are being realized.</li><li>Responsible for actuarial items needed for SOX compliance.</li><li>Assist finance with the preparation of quarterly financial statements, including Schedule P.</li><li>Provide analysis to assist with reinsurance renewals as needed.</li><li>Maintains actuarial policies and standards, ensuring they are consistent with regulator and corporate standards.</li><li>All other duties as assigned.</li></ul><ul><li>10+ years actuarial experience in property casualty insurance.</li><li>Excess insurance, excess construction experience preferred.</li><li>Innovative, strategic thinker, and strategic planning experience and capabilities.</li><li>Excellent written and oral communication, presentation, influencing, and leadership skills.</li><li>Proficient use of computer applications, including MS Office Suite.</li><li>Expert level MS Excel skills required.</li><li>Database programming skills (Access, SQL, etc.)</li><li>Well organized and ability to work without constant supervision.</li></ul>Education Requirement<ul><li>Bachelor’s degree.</li><li>Associate or Fellow Designation.</li><li>Meet annual CAS and/or AAA continuing education requirements.</li></ul>The company offers a competitive compensation plan and robust benefits package for full-time regular employees which for this role include:<ul><li>Base Salary Range: $120,000 – $190,000</li><li>Eligible to participate in annual discretionary bonus.</li><li>Benefits: Health, Dental, Vision, Life, Disability, Wellness, Paid Time Off, 401(k) and Profit-Sharing plans.</li></ul>The actual salary for this position will be determined by a number of factors, including the scope, complexity, and location of the role; the skills, education, training, credentials, and experience of the candidate; and other conditions of employment.Sponsorship not offered for this role.

Company DetailsBerkley Oil & Gas, (a W.R. Berkley Company) is an insurance underwriting manager providing unique property and casualty products and risk services to customers engaged in the energy sector.Our customers recognize the importance of the expertise we provide and appreciate the opportunity to work with professionals who understand their business.We are committed to delivering innovative products and exceptional service to our valued agents and brokers.Berkley Oil & Gas is dedicated to being well-informed of the changing dynamics of the industry and supports efforts to minimize and mitigate risks and hazards in the 'oil patch'.We constantly seek ways to improve our products and services to meet customer needs.Responsibilities<ul><li>The Actuary will take the initiative to identify and recommend necessary enhancements and changes to existing actuarial processes, analytical methods, and procedures that reflect changing market and operating conditions.</li><li>Assist in leading the strategy of assigned functional area(s) to provide accurate and timely analyses and communications to business partners, regulators, and rating agencies.</li><li>Serve as the primary contact for assigned functional area(s) on both an internal and external basis.</li><li>Be an actuarial thought leader, particularly in the area of reserving, coming up with new ideas and methods to ensure BOG actuarial methods, techniques, and processes are appropriately sophisticated and reflect current industry standards.</li><li>Leverage advanced knowledge of generally accepted actuarial techniques to ensure that actuarial analyses appropriately reflect ongoing market and company operational changes.</li><li>Collaborate with associates in other departments on various items, including pricing and reserving for accounts, to provide the best business solutions for BOG.</li><li>Listen to associates' needs and requests, then determine priority of execution and completion of those requests through review of current business priorities and discussions with the VP Actuary.</li><li>Provide recommendations on actuarial projects based on verified data.</li><li>Improve and enhance loss reserving diagnostics and reserve analysis tools.</li><li>Complete and streamline line of business trend and pricing studies.</li><li>Maintain pricing models and ensure they are in the most efficient automated tool and process.</li><li>Assist in rate analysis and reporting.</li><li>Measure, monitor, and communicate progress of project(s) at clearly defined points in the process to ensure that the project(s) is delivered on time and meets or exceeds expectations.</li><li>Maintain focus on key objectives and manage unit workflow to accomplish completion of complex actuarial projects, removing obstacles as necessary.</li><li>Deliver several projects concurrently and adjust to changing priorities.</li></ul>Qualifications<ul><li>10-15 years of related work experience.</li><li>Advanced knowledge in actuarial ratemaking methodologies.</li><li>Practical knowledge with financial reporting.</li><li>Mastery of core software applications, including actuarial systems and Microsoft Office Suite.</li><li>Experience with relational databases (Access, SQL Server).</li></ul>Education Requirement<ul><li>Bachelor's Degree Required (Math or STEM Degree preferred).</li><li>ACAS required.</li><li>FCAS credential preferred.</li></ul>

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