Actuarial Consultant (P&C Insurance Reserving)

Actuarial Consultant - Reserving

This is a hybrid role with the flexibility to work both virtually and from our Chicago, New York City, or Bloomington, MN offices.

Aon is in the business of better decisions

At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.

As an organization, we are united through trust as one inclusive team and we are passionate about helping our colleagues and clients succeed.

What the day will look like

Aon’s Strategy and Technology Group (STG) is seeking a Reserving Actuarial Consultant to join their team and help to accelerate the development of their actuarial advisory business focused on clients in the insurance and reinsurance industries. STG is Aon’s new global consulting and technology business focused on insurance and reinsurance companies and other participants in the insurance industry.

Key Responsibilities:

• Reserve Analysis:
  • Conduct comprehensive analysis to identify trends and project unpaid claims liabilities.
  • Apply appropriate actuarial techniques and reserving methods.
  • Interact with clients to understand their business profile and company practices and processes.
  • Clearly communicate findings verbally and in writing by creating Actuarial Reports and presenting results.
  • Assist in designing new or enhanced industry studies, analyzing market opportunities and benchmarking industry reserving practices.
• Client Engagement & Advisory:
  • Build relationships to act as a trusted advisor to key internal and external stakeholders.
  • Provide expert advice to clients on reserving practices and processes.
  • Offer actionable insights to help clients garnered from understanding industry trends.
• Regulatory Compliance & Risk Management:
  • Ensure reserving models and reports meet regulatory standards.
  • Advise clients on necessary adjustments to ensure compliance and manage risk effectively.
• Professional Development & Collaboration:
  • Model high performance to help build high-functioning teams, fostering a culture of development and learning.
  • Support management leadership and comply with company policies and procedures.
  • Ensure projects meet internal compliance and guidelines, exceeding expectations.

Skills and experience that will lead to success

• Education: Bachelor’s degree in Business, Actuarial Science, Economics, Mathematics, a related field or equivalent years of industry experience.
• Actuarial student with 3-5 CAS exams completed.
• Minimum of 5 years of experience within the P&C Insurance industry.
• Proficiency in statistical software and programming languages such as R, Python, or SAS.
• Strong analytical and problem-solving skills.
• Excellent communication skills, with the ability to convey complex concepts to non-technical audiences.
• A strong understanding of data science and machine learning techniques for predictive modeling.

How we support our colleagues

Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon’s discretion; medical, dental and vision insurance; various types of leaves of absence; paid time off, including 12 paid holidays throughout the calendar year; 15 days of paid vacation per year; paid sick leave; short-term disability and optional long-term disability; health savings account; health care and dependent care reimbursement accounts; employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies; adoption assistance; tuition assistance; commuter benefits; and an employee assistance program that includes free counseling sessions.

In addition to our comprehensive benefits package, we encourage an inclusive workforce. Our agile environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two “Global Wellbeing Days” each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions for our colleagues as well.

Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.

Aon values an innovative and inclusive workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.

Aon provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status. People with criminal histories are encouraged to apply.

We welcome applications from all and provide individuals with disabilities with reasonable adjustments to participate in the job application, interview process and to perform essential job functions once onboard.

Pay Transparency Laws:

The salary range for this position (intended for U.S. applicants) is $100,000 to $120,000 annually. The actual salary will vary based on applicant’s education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted based on applicant’s geographic location.

This position is eligible to participate in one of Aon’s annual incentive plans to receive an annual discretionary bonus in addition to base salary. The amount of any bonus varies and is subject to the terms and conditions of the applicable incentive plan.