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Senior Actuarial Analyst

Ryan Specialty Group

Chicago, Illinois

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JOB DETAILS
SKILLS
Actuarial Skills, Analysis Skills, Automation, Benchmarking, Business Development, Business Skills, Communication Skills, Compensation and Benefits, Continuous Improvement, Data Modeling, Data Science, Detail Oriented, Establish Priorities, Insurance, Investment Management, Mathematics, Microsoft Excel, Microsoft Office, Microsoft PowerPoint, Multitasking, Performance Analysis, Portfolio Analysis, Power BI, Predictive Modeling, Pricing, Problem Solving Skills, Process Improvement, Product Development, Product Pricing, Profit & Loss, Profit & Loss Management, Project/Program Management, Python Programming/Scripting Language, R Programming Language, Risk, SQL (Structured Query Language), Statistics, Strategic Planning, Team Player, Underwriting
LOCATION
Chicago, Illinois
POSTED
30+ days ago
Position Summary
As a Senior Actuarial Analyst on the Ryan Specialty Underwriting Managers Pricing team, you will play a critical role in advancing rating tools, portfolio analysis & management, and technical pricing within a collaborative, fast-paced environment. You will get exposure to a diverse set of products and lines of business. This position requires significant collaboration with various stakeholders, including underwriters, actuaries, CAT analysts and IT teams.

What will your job entail?

Job Responsibilities
  • Assist in developing pricing strategies, ensuring rates align with risk, growth and profitability goals, regularly sharing data-driven insights with leaders. This can include performing segmentation analysis, predictive analytics, industry benchmarking, and more.
  • Provide portfolio management analytics and recommendations to business units, with guidance and support from other actuaries. This includes monitoring the performance of the book and providing insights into actions identified to maintain/increase profitability/growth going forward. Build portfolio management analytics and reports to support a deeper understanding of portfolio performance and volatility trends.
  • Support pricing capabilities for new product development, including development of pro-forma expected loss experience, technical pricing, and rating tools.
  • Maintain, update and build rating tools, working directly with underwriters and IT partners to ensure that businesses have robust, efficient and accurate pricing solutions.
  • Help drive automation and continuous improvement in processes such as rate change monitoring and other data monitoring/reporting efforts to ensure efficiency, data model alignment, and data completeness and accuracy.
  • Partner with underwriting and other colleagues to develop business acumen, deepen knowledge of various lines of business, and conduct ad-hoc deep-dive analyses as needed to uncover key profit and loss drivers.
Work Experience and Education
  • Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field.
  • 2+ years of P&C actuarial experience, with a focus on commercial insurance pricing strongly preferred.
  • Progress towards ACAS/FCAS credentialing.
Skills and Competencies
  • Excellent technical aptitude, including
    • Strong technical skills in Microsoft Office (Excel, Power BI, PowerPoint)
    • Data extraction and transformation skills, such as SQL or Databricks
    • Analytical and data science skills, such as R or Python
  • Committed team player, contributes to team culture and team success
  • Strong attention to detail
  • Pro-active and creative in solving problems and exploring new solutions
  • Ability and willingness to collaborate and communicate effectively with non-actuarial partners
  • Ability to prioritize and manage multiple ongoing projects in a fast-paced environment
  • Process-oriented, continuously seeking efficiencies and improvements in workflow.

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them - and their family members - achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target salary range for this position is $88,000.00 - $110,000.00 annually.

The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.

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Ryan Specialty Group

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