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Actuarial Modeling Analyst

Allstate Insurance Northbrook, IL

Actuarial Analyst

Allstate Insurance Northbrook, IL
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Location: Northbrook, IL
Application Deadline: None
Type: Not specified
Career Level: Associate
Salary Range: Not specified
Number of Jobs: 1
Relocation Available: No

Industries

Insurance,

Description

Description
The Actuarial Support team at Allstate utilizes catastrophe modeling, provides expert actuarial guidance to business partners throughout the enterprise, influences business strategies with the economics of the business and the customer experience in mind, rigorously defends the soundness of Allstate's actuarial work in the regulatory and legislative arenas and uses planning, communication and follow-up skills to ensure the timely delivery of high-quality, error-free work.   This is a lead analyst position.  The Senior Actuarial Assistant is responsible for coordinating, leading, and managing projects in support of pricing personal or commercial insurance lines of business utilizing accepted actuarial standards, methodologies, and knowledge gained through the pursuit of a professional designation in the Casualty Actuarial Society.  He/She works closely with their Pricing Manager and State or Line Manager to develop appropriate pricing and product strategies of moderate to high complexity to support business goals.  He/She typically has at least three years of actuarial pricing experience.   This position will support the Consumer Household Analytics Team.    Key Responsibilities:  

  • Performs moderate to highly complex actuarial functions used in determination of the indicated rate level need for a line of business
  • Performs and evaluates moderately complex trend analysis (e.g., competitor analysis, risk management, financial)
  • Reviews and makes observations of appropriateness of intermediate actuarial formulae
  • Determines appropriate analyses to be conducted for projects to make recommendations to achieve corporate goals
  • Actively participates in actuarial development within the department
  • Plans, implements, manages, and/or contributes on projects that are moderate to high complexity and are of moderate scale using accepted project management standards
  • Forecasts short-term and long-term deliverables
  • Tracks own plan performance and project timeline
  • Communicates and presents project status
  • Ensures project controls are in place throughout the lifecycle of the project within own tasks 
  • Directs and is responsible for work that needs to be performed by a team and/or direct reports
  • Assesses resource needs including skills and training requirements (when leading project teams and/or managing direct reports)
  • Assists in determining where additional resources/ expertise may be necessary to successfully complete projects/ assignment
  • Actively builds strong relationships among teams and team members to ensure cooperation on project objectives
  • Supports and/or leads development/design of  new plans, programs, processes, products up to moderate complexity
  • Develops communication strategies and materials to support new plans, programs, processes, products
  • Assists in the formulation of strategies to achieve plan objectives
  • Solicits inputs from stakeholders
  • Evaluates procedures and processes regularly and determines/ recommends alternatives or improvements
  • Contributes to market share growth and profitability by recommending routine changes to products, pricing, risk management and providing expertise in their respective discipline(s)
  • Determines the integration and delivery of planned changes/projects/products to regions/field
  • Understands and makes observations on market specific implications of business strategies
  • Assures proper execution of regulatory/legislative practices for Product Management
  • Adheres to internal and external compliance requirements/standards
  • Functions as a liaison between business unit and systems or other areas of responsibility as required based on the projects they are assigned to
  • Trains/coaches team members or peers and actively shares expertise with peers
  • Serves as a subject matter expert for their respective discipline(s) from an internal perspective
  • Leverages understanding of current industry and professional standards/ environment to impact decisions and indicate requirements
  • May supervise one or more entry level actuarial analysts
Qualifications
  • Typically has three or more years of actuarial pricing experience
  • Pursuing actuarial designation and has completed at least two actuarial exams, 3 or more preferred
  • Bachelor’s degree required – preferably in related field of study such as actuarial science, math/applied math, statistics/applied statistics, economics
  • Intermediate knowledge in the use of data sources and applications to conduct research
  • Can analyze data and review analysis from others
  • Can identify and resolve basic to moderately complex data issues
  • Has an understanding of current industry and professional standards/ environment to impact decisions and indicate requirements
  • Possesses intermediate working knowledge of policies and procedures in management or other technical fields
  • Computer proficiency in Microsoft Office:  Advanced – Excel, Intermediate – Word, Beginner – Outlook, Intermediate - PowerPoint
  • Strong written and verbal communication skills including the ability to effectively collaborate with multi-disciplinary groups and all organizational levels
  • High level organizational and project management skills in order to handle multiple concurrent assignments in a timely manner
  • Strong decision making skills
  • Works effectively in a team environment
    Careers @Allstate   We are insurance. We are financial services. We are also so much more. We are lawyers, writers, web developers, accountants, building engineers, application developers, project managers and human resource specialists. We are creative, driven, passionate, fearless and curious. Our unique culture of inclusion helps us maximize innovation and creativity. We believe that welcoming differing ideas, cultures and backgrounds gives us a competitive advantage in a diverse, global marketplace. At Allstate, it's our differences that drive our success — as individuals and as a company. We celebrate creative problem-solving as we work together to make a difference in our communities. We believe in providing the very best tools and resources available to help keep our customers — and our employees — in Good Hands®.

Connect with us on Twitter, Facebook, Pinterest and LinkedIn​ to find out for yourself... or hear from some of our employees in We Are Allstate​   Benefits and Perks  
  • Pension plan plus 401K
  • Career path/succession planning
  • Mentoring programs
  • Tuition reimbursement
  • Modern work spaces 
  • Flexible schedules
  • Generous paid time off (with option to purchase additional days)
  • Medical, Dental, Vision, Life and Long Term Disability Insurance



Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.

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