Actuary Associate

ROLE SUMMARY

The Actuary Associate will play a key role in supporting the forecasting of loss ratios and contributing to ratemaking activities and the development and refinement of rate optimization strategies for Leaselock’s lease insurance product. This role will be responsible for maintaining policy year and accident year loss ratio forecasts, developing and applying loss development factors, and utilizing various actuarial techniques to estimate losses. The Actuary Associate will actively support and collaborate with cross-functional teams to analyze loss trends and leverage predictive modeling insights, and contribute to the assessment of new program offerings and policy changes.

RESPONSIBILITIES

• Maintain and refine policy year and accident year loss ratio forecasts.
• Develop and apply loss development factors (LDFs) and utilize actuarial techniques (e.g., chain-ladder, Bornhuetter-Ferguson, etc.) to estimate ultimate losses.
• Participate in rate making activities, including setting base rates, calculating increased limit factors (ILFs), and implementing price segmentation strategies and schedule rating process.
• Partner with analytics to monitor trends and the effectiveness of rate actions.
• Partner with data science to leverage predictive models for ratemaking and forecasting.
• Support the insurance team to assess new program offerings and policy changes.
• Collaborate with industry SMEs to understand industry conditions and trends.
• Communicate actuarial findings, methodologies, and recommendations to internal and external stakeholders.
• Develop, maintain, and document actuarial processes, methodologies, and assumptions.
• Conduct increasingly complex ad-hoc analyses and projects with limited supervision.

QUALIFICATIONS

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, Data Science, Economics, or a related quantitative field.
• Associate-level certification from a recognized actuarial organization (e.g., ACAS or ASA) is preferred.
• 2-4 years of relevant actuarial experience within the insurance or financial services industry.
• Solid understanding and demonstrated application of actuarial principles and techniques.
• Working knowledge of ratemaking principles, including base rate development, pricing segmentation, and increased limit factors.
• Experience in developing and utilizing LDFs and various loss projection/reserving methods.
• Strong proficiency in Microsoft Excel, including advanced formula usage and data manipulation..
• Familiarity with statistical programming languages such as Python or R.
• Familiarity with SQL for querying data is a plus.
• Strong analytical and problem-solving skills with the ability to interpret complex data and contribute to actionable insights.
• Effective written and verbal communication skills with the ability to present technical information clearly.
• Intellectual curiosity and a proactive approach to expanding actuarial knowledge and skills.
• Ability to work effectively both independently and as a contributing member of a collaborative team.
• Strong organizational skills and attention to detail, with the ability to manage multiple tasks.

What you can expect:

• Opportunity to take on increasing responsibility within the actuarial function of a growing technology company.
• Exposure to a diverse range of projects and challenges with greater autonomy.
• Collaborative environment with experienced professionals across various teams.
• A dynamic and fast-paced work environment where your contributions will be valued.