Senior Actuarial Analyst - Loss Reserving

Overview:

Being good neighbors – helping people, investing in our communities, and making the world a better place – is who we are at State Farm. It is at the core of how we operate and the reason for our success. We're moving with urgency to become a Next Gen Good Neighbor, with technology that strengthens human connections and enhances the customer experience. As an employee, you'll spend less time navigating systems and more time applying judgment, empathy, and expertise in the moments that matter most.

 

Office Location: Bloomington, IL - Corporate Headquarters

Hybrid Work Arrangement:   In this position, you should plan to spend time working in the office (two days) each week and remotely (with the ability for same day travel to and from your assigned office location) as part of a hybrid work arrangement. Work arrangements could change over time based on business need. Your manager will share additional information regarding your department’s approach and what it means for you.

 

*****Applicants are required to be eligible to lawfully work in the U.S. immediately; employer will not sponsor applicants for current or future U.S. work authorization (e.g. H-1B visa) for this opportunity*****

Responsibilities:

As a member of the Loss Reserves team within Financial Operations, you will have responsibility for completing Property & Casualty loss and expense evaluations for assigned product lines, coverages, and/or companies applying both traditional and innovative loss reserving techniques and methods.

Our Loss Reserving Actuarial Analysts use their industry knowledge and technical skills to solve business problems, conduct research, identify solutions to actuarial problems, and analyze and prepare responses to various actuarial questions/issues. They serve as valued resources to other State Farm areas, often engaging with business partners across the organization, including our Claims, Pricing, and Financial Reporting teams, to solve multi-faceted business problems.

Qualifications:

We Are Looking for Candidates With:

• A minimum of 4 years of experience in an actuarial role; preferably, with P&C Loss Reserving responsibilities.
• Bachelor’s degree in Actuarial Science, Math, Statistics, Data Science, Computer Science, Information Management or other analytical fields.
• Experience with data and statistical analysis in Excel, SQL, R, and/or Python
• Strong communication, interpersonal, organization, leadership, problem-solving and critical thinking skills
• Successful completion of at least three Society of Actuaries or Casualty Actuarial Society exams required.  ACAS/FCAS designation preferred.
• Intention to earn, or maintain the Continuing Education requirements of, the ACAS/FCAS designation.  

 

*****Applicants are required to be eligible to lawfully work in the U.S. immediately; employer will not sponsor applicants for current or future U.S. work authorization (e.g. H-1B visa) for this opportunity*****

Our Benefits:

Because work-life balance is a priority at State Farm, compensation is based on our standard 38:45-hour work week!

 

• Potential starting salary range: $110,000 - $175,000
• • Starting salary will be based on skills, background, CAS exams passed, and relevant experience
  • High end of the range limited to applicants with significant relevant experience
• Potential yearly incentive pay up to 15% of base salary

At State Farm, we offer more than just a paycheck. Check out our suite of benefits designed to give you the flexibility you need to take care of you and your family!

 

• Get Paid! On top of our competitive pay, you are eligible for an annual raise and bonus.
• Stay Well! Focus on you and your family’s health with our robust health and wellbeing programs. State Farm pays most of your healthcare premium, and we offer multiple healthcare plan options, including a high deductible plan. All medical plans provide 100% coverage for in-network preventative care, AND you and your family have access to vision, dental, telemedicine, 24/7 mental health professionals, and much more!
• Develop and Grow! Take advantage of educational benefits like industry leading training programs, top-notch tuition assistance programs, employee resource groups, and mentoring.
• Plan Ahead! Plan for those big moments in life with benefits like fertility/IVF/adoption assistance, college coaching, national discount programs, interactive monthly financial workshops, free financial coaching, and more. You can also start a savings account or consider financing through our State Farm Federal Credit Union!
• Take a Little “You” Time! You will have access to our generous time off policies designed so you can plan around holidays, family events, volunteering, or just to take a relaxing day off. With the opportunity to initially earn up to 20 days annually plus parental leave, paid holidays, celebration day, life leave (40 hours/year), bereavement leave, and community service/education support days, there will be plenty of time for you!
• Give Back! We offer several ways to give back through our Matching Gift Program, Good Neighbor Grant Program, and the Employee Assistance Fund.
• Finish Strong! Plan for retirement using free financial advisors and a 401(k) plan with company contributions of up to 7% of your salary.

 

Visit our State Farm Careers page for more information on our benefits, locations, and the hiring process of joining the State Farm team!