AmericanAg®, a global provider of diversified reinsurance services, is looking for an Actuarial Analyst to join our Reserving team based out of our office in Schaumburg, Illinois. This is a hybrid position working in the office three days a week.
Reporting to the Reserving Actuary, the Actuarial Analyst will work with other actuarial, claims, and finance teams to support a variety of actuarial activities including reserving, reporting, and data analysis. If you want to continue to grow professionally and play an active role in critical projects that will help enhance our reserving processes and procedures, this might be a great fit for you.
The Actuarial Analyst will:
- Assist the Reserving Actuary with calculating and recommending loss and premium reserves for all contracts:
- Reconcile, mine, organize, and prepare data for analysis
- Understand and apply underlying reinsurance and insurance contracts
- Apply appropriate actuarial reserving techniques to determine estimates of ultimate loss
- Participate in the Quarter Close and Year End Reserving reporting meetings
- Understand and follow all required regulatory and actuarial guidelines and standards
- Assist the Reserving Actuary to produce the Statement of Actuarial Opinion, Actuarial Opinion Summary, and Actuarial Report
- Partner with other actuaries in implementing best practice analytical techniques and assessing the impact of loss trends and claims emergence on loss reserves
- Assist in reviewing actuarial reports produced in support of Canadian business
- Assist with completing Solvency and Financial Evaluation studies for Farm Bureau® insurance companies and with profitability and expense studies
- Modernize components of the reserve monitoring processes through use of common programming languages, while maintaining end-user friendly tools
- Participate in the development of actuarial presentations
- Analyze existing tools and processes, modify or create new tools, and improve processes
What you will bring to this role:
- Minimum of BS in Actuarial Science, Economics, or Mathematics, or other related college degree
- Completion of at least three actuarial exams
- Minimum of three years of experience working as an actuary; reinsurance experience is a plus
- Knowledge and understanding of actuarial principles regarding insurance and reinsurance
- Ability to work independently and as part of a team to meet critical deadlines
- Data organization skills and attention to detail regarding data
- Ability to develop, understand, and use Excel workbooks
- Experience in Python and/or R preferred
- Experience using Arius and Triangle on Demand is a plus
The expected starting salary range for this position is between $120,000 and $150,000. Applicable salary ranges may differ across markets. Actual pay will be determined based on experience and other job-related factors permitted by law. This position is also eligible for an annual bonus.
We do not sponsor employment visas and are unable to take over an employment visa from another employer. Applicants must be authorized to work in the U.S. for ANY employer without the need for employment visa sponsorship.
Who We Are
Since 1948, AmericanAg® has provided reinsurance services that promote the financial strength and success of its clients. We are a direct provider of reinsurance to the Farm Bureau® insurance companies and also participate in assumed U.S. and international reinsurance programs through the broker marketplace. Learn more at aaic.com
Reasons to Consider AmericanAg®
At AmericanAg®, you’ll work alongside a diverse team of highly educated and experienced professionals. We foster a dynamic culture where innovative ideas are championed and brought to life and where employees are appreciated, engaged, and encouraged to reach their full potential.
AmericanAg® offers a competitive benefits package for employees and eligible dependents that includes medical, dental, vision, life, and disability insurance; company-funded cash balance retirement plan and 401(k) retirement plan; Flexible Spending and Health Savings Accounts; paid holidays, vacation, and sick time; Paid Parental Leave, Employee Assistance Program; and other benefits. Click here to learn more.
Top Skills
What We Do
American Agricultural Insurance Company (AmericanAg) stands out from the marketplace as a provider of reinsurance services across the insurance spectrum with a growing global presence. We are a direct provider of reinsurance to Farm Bureau® insurance companies and participate in U.S. and non-U.S. reinsurance programs through the broker marketplace.
With more than 70 years of experience, we know our success is inextricably tied to that of our customers’. Today, whatever the market, wherever the location, we take the time to understand the nuances of our clients’ business and collaborate with them on reinsurance solutions specific to their needs and goals.
Our clients benefit from our expertise, rigorous analysis, intelligent innovation, and global resources. We work hard to earn trust with personal and responsive service, transparent communications, stable financial protection, and prompt claim payment.
Our forward-thinking solutions are essential for staying ahead in a market that continues to evolve. AmericanAg is not only a reinsurer, but also a resource—helping to transform risk into opportunity and supporting profit and growth.
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