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Actuary - Small Business

Company: USAA
Location: Chesapeake
Posted on: January 17, 2020

Job Description:

Purpose of JobWe are currently seeking a talented Actuary - Small Business for one of the following locations: San Antonio Home Office I, Remote, Phoenix Campus, Colorado Springs Campus, Tampa Crosstown, Tampa Campus or Chesapeake.

Prepares and communicates actuarial analyses to develop, price and file new Small Business Insurance (SBI) product. Projects appropriate costs to ensure adequate, equitable and competitive rates for USAA members. Reviews industry and competitor filings to determine optimal rating structures. Builds and/or expands databases to launch, monitor and scale SBI. Prepares state rate filings, communicates with DOIs, and negotiates successful/timely approvals. Resolves issues and navigates obstacles to deliver MVP. Monitors price levels, structures, close rates and other metrics to maintain profitability and competitiveness. Tests pricing assumptions and corresponding premiums for new Small Business Insurance products.
Coordinates, prepares and performs actuarial analyses required to develop new products, project future results, reprice existing products, and/or determine financial strength. Under minimal supervision, performs complex work assignments and problem resolution.Job RequirementsJOB DUTIES

  • Acquires and applies advanced knowledge of the business, its products, and processes.
  • Utilizes actuarial modeling software driven models for pricing, valuation, and/or risk management.
  • Enters data and tables, runs models, and generates reports.
  • May make adjustments and improvements to models, when appropriate.
  • Maintains proper price level, price structure, data availability and other requirements to achieve profitability and competitive goals.
  • Identifies critical experience areas to monitor and suggest timely remedies to correct or prevent unfavorable trends.
  • Identifies sources of gain and loss by product and assumption.
  • Tests pricing assumptions and the appropriate premiums, interests margins, reserves, and cash values for new products.
  • Provides insight to management on issues.
  • Serves as a resource to team members on escalated issues of an unusual nature.
  • Develops and manages requirements to deliver agile business changes, exceptional member experiences, and/or integrated solutions.
  • Leads and provides direction in gathering most complex business rules and requirements.
  • Defines business problems.
  • Develops business artifacts.
  • Leads the design, development and implementation of highly complex business solutions.
  • Performs highly complex analysis/design, coding and testing in support of project responsibilities.
  • Applies a holistic understanding of the business operations.
  • Strategically partners with IT to influence the design, alignment, and implementation of technical business standards.
  • Provides direction and support for production and operational business issues.Minimum Requirements
    • Bachelor's Degree. 4 additional years of Actuarial/business/analytical experience beyond the minimum required may be substituted in lieu of a Degree.
    • 8 years Actuarial/business/analytical experience + ACAS held for 5 years Or 6 years Actuarial/business/analytical experience + FCAS.Preferred
      • Experience using predictive analytics and third-party data for pricing and underwriting development
      • BOP pricing experience and/or other commercial lines
      • Working knowledge of ISO, SERFF and SNL circulars, filings, forms to replicate / stress test rating algorithms
      • SQL, SAS, R and/or Python programming skillsThe above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.At USAA our employees enjoy one of the best benefits packages in the business, including a flexible business casual or casual dress environment, comprehensive medical, dental and vision plans, along with wellness and wealth building programs. - Additionally, our career path planning and continuing education will assist you with your professional goals.Relocation assistance is available for this position.

Keywords: USAA, Chesapeake , Actuary - Small Business, Accounting, Auditing , Chesapeake, Virginia

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