Company Description

FAST, which stands for “Flexible Architecture, Simplified Technology,” is a Verisk (NASDAQ: VRSK) business that offers a suite of out-of-the-box software components insurers can use to quickly modernize their current environments or replace their legacy systems. FAST, which has a U.S. office in Iselin, New Jersey and an international office in Hyderabad, India, was founded in 2010 to provide an alternative to the overly burdensome solutions available in the market. 

At FAST, we recognize that each insurance company faces a unique set of issues and challenges, and that a tremendous amount of creativity and capability is required to craft and implement the best solution. That’s why FAST was built on an agile mindset. FAST, in concert with Verisk, is focused on providing innovative technology and analytics solutions for the life insurance industry. We’re continuously learning and improving, constantly challenging the status quo, and always seeking a “win/win” for our customers, partners, and employees. We reduce the time to market, eliminating risk and lowering the cost of standing up and maintaining core insurance systems. 

We continue to leapfrog the competition through Gartner’s Magic Quadrant for Life Insurance Policy Admin Systems, North America. FAST was first recognized in Gartner’s 2015 Magic Quadrant and after only three years became the youngest company to make Gartner’s leadership quadrant (upper-right). 

We are proud to be a part of the Verisk family of companies! 

At the heart of what we do is help clients manage risk. Verisk (Nasdaq: VRSK) provides data and insights to our customers in insurance, energy and the financial services markets so they can make faster and more informed decisions.

Our global team uses AI, machine learning, automation, and other emerging technologies to collect and analyze billions of records. We provide advanced decision-support to prevent credit, lending, and cyber risks. In addition, we monitor and advise companies on complex global matters such as climate change, catastrophes, and geopolitical issues.

But why we do our work is what sets us apart. It stems from a commitment to making the world better, safer and stronger.

It’s the reason Verisk is part of the UN Global Compact sustainability initiative. It’s why we made a commitment to balancing 100 percent of our carbon emissions. It’s the aim of our “returnship” program for experienced professionals rejoining the workforce after time away. And, it’s what drives our annual Innovation Day, where we identify our next first-to-market innovations to solve our customers’ problems.

At its core, Verisk uses data to minimize risk and maximize value. But far bigger, is why we do what we do. 

At Verisk you can build an exciting career with meaningful work; create positive and lasting impact on business; and find the support, coaching, and training you need to advance your career. We have received the Great Place to Work® Certification for the fifth consecutive year. We’ve been recognized by Forbes as a World’s Best Employer and a Best Employer for Women, testaments to our culture of engagement and the value we place on an inclusive and diverse workforce. Verisk’s Statement on Racial Equity and Diversity supports our commitment to these values and affecting positive and lasting change in the communities where we live and work.

Job Description

The Junior Product Analyst works as a consulting team member or as an individual analyst on the enhancement, integration, and implementation of client-driven FAST solutions. They will collaborate with other actuaries and/or product experts, focusing on the analysis of the customer’s product specifications and on the configuration of the customer’s products utilizing FAST’s toolset. Duties may be performed at customer’s site. This Product Analyst operates under close supervision and works on tasks as directed. 

Essential Duties and Responsibilities 

90% - 100% Works on single or multi-product projects, usually with multiple computer environments where design is extremely complex: 

• Develops detailed understanding of customer’s products and how customer’s products will be integrated with the FAST solution through interfacing with customer’s actuarial resources. 

• Interviews customer peers during requirements gathering exercises and documents findings. 

• Facilitates and manages design sessions regarding business functionality and/or product logic with customer(s). 

• Tests FAST system against customer’s system. 

• Identifies gaps between customer requirements and FAST solution and proposes ideas to address these issues. 

• Authors detailed actuarial specifications and functional specifications from limited BSR(s), or with no BSR(s), through independent discussions with customers. 

• Performs product loading and values testing.

• Using detailed knowledge of regulations, calculations and processing, routinely guides detailed discussions with customers regarding at least two (2) of the following product types: UL/VUL, Traditional Products, Deferred Annuities and Immediate Annuities. 

• Shares business knowledge with peer business analysts through mentoring and/or group presentations. 

• Authors functional specifications for multiple FAST solutions: Home Office, Administration, Payout Administration, Application, Underwriting, Illustrations Calculations, Illustrations and Technical Integration. 

• Estimates time frames, quality and quantity of resources required to successfully implement project; assists in developing project plan incorporating all project variables. 

• Provides periodic status checks with customers and team to assess progress against plan. Performs re-forecasts of project variables as necessary throughout project. 

• Prepares status reports, as needed, on all project activities. 

Qualifications

Essential Education and Work Experience 

Bachelor’s degree in Mathematics or Actuarial Science required.

FSA or ASA desirable. Up to 18 months of work experience in the life and/or financial services industry, relevant industry business practices, business consulting, or technical consulting.

Specialized Knowledge and Skills 

The Actuarial Analyst participates as a project resource according to a schedule. Design complexity may vary from fairly straight forward to moderately complex, may involve a single or multiple products, and may require multiple computer environments. The Actuarial Analyst must possess excellent communication, interpersonal, presentation, organizational, and planning skills.

Equipment and Applications 

PC proficiency required 

Microsoft Office proficiency required, especially Microsoft Excel 

Work Environment and Physical Demands 

• General office environment 

• Travel may be required 

• Average 45-hour work-week, may be more as needed 

Additional Information

Verisk Analytics is an equal opportunity employer.

All members of the Verisk Analytics family of companies are equal opportunity employers. We consider all qualified applicants for employment without regard to race, religion, color, national origin, citizenship, sex, gender identity and/or expression, sexual orientation, veteran's status, age or disability.

http://www.verisk.com/careers.html

Unsolicited resumes sent to Verisk, including unsolicited resumes sent to a Verisk business mailing address, fax machine or email address, or directly to Verisk employees, will be considered Verisk property. Verisk will NOT pay a fee for any placement resulting from the receipt of an unsolicited resume. 

Consumer Privacy Notice

Effective November 15, 2021, and subject to applicable law, all prospective hires for this position will be required to demonstrate that they are fully vaccinated against COVID-19 by their start date, or qualify for a legally-required medical or religious accommodation to this vaccination requirement, as a condition of employment. Hired candidates who do not demonstrate that they are fully vaccinated against COVID-19 by their start date, and who have not been approved for a legally-required medical or religious accommodation will no longer meet the requirements for employment and their offers of employment will be immediately rescinded, in accordance with applicable law.