Actuarial Consultant, Reserving at CNA
Under technical direction performs actuarial studies of a moderately complex nature for Liability lines of business (general liability, auto liability, umbrella and mass torts) to be used by senior management for making business decisions and formulating business strategy. This role assists in advancing ground-up modeling for Asbestos, Pollution, and other Mass Tort claims. May participate in the development and implementation of corporate-wide initiatives as well as special projects.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
- Performs actuarial calculations, moderately complex actuarial studies, and develops rates for existing and/or new business.
- Participates in the development of pricing strategies and/or new pricing tools with a focus of driving profitability for a product line or segment.
- Prepares or coordinates the preparation of the actuarial portions of financial statements and tax returns, which may include assisting in the financial close process.
- Prepares or coordinates the preparation of standard reports, as well as, special reports for management.
- Facilitates communication and provides guidance to Underwriting regarding the pricing of new and/or existing business and collaborates with other functional groups (e.g. Underwriting, Claim, Finance) on actuarial issues.
- May prepare and submit rate filings and may contact regulatory and state agencies as necessary.
- May participate in special projects.
Director or above
Skills, Knowledge & Abilities
1. Solid knowledge of core functions of an insurance company, general insurance, actuarial and statistical concepts.
2. Demonstrated technical expertise and product specific knowledge.
3. Strong analytical and problem-solving skills with the ability to effectively resolve moderately complex situations and issues. Demonstrates attention to detail.
4. Strong interpersonal and communication skills. Ability to effectively interact with all levels of CNA's internal and external business partners.
5. Ability to work independently, as well in a team, manage time and resources to accomplish multiple tasks and meet deadlines.
6. Good time management with strong organizational skills and the ability to prioritize and manage work deliverables effectively.
7. Ability to exercise independent judgment and make critical business decisions effectively within scope of authority based on data analyses and reviews.
8. Ability to adapt to change and value diverse opinions and ideas.
9. Ability to comprehend business data and metrics and to further articulate analyses of actuarial data within internal reports.
10. Solid knowledge of Microsoft Office Suite and other business-related software systems, including processing systems and applications.
Education & Experience
1. Bachelor's Degree in a relevant discipline, or equivalent.
2. Typically two to four years of related work experience, and at least three to five successfully completed CAS exams. May include those with their Associateship.