Job Information
MAPFRE Insurance Actuary II in Remote or Webster, Massachusetts
Actuary II
Date: Mar 13, 2025
Location:
Remote or Webster, MA, US
Company: MAPFRE
Job Summary
Position can be at a higher level commensurate with experience.
The Actuary develops actuarial analyses, with a focus on reserving, in accordance with CAS (Casualty Actuarial Society) principles. These analyses will directly contribute to the overall performance of the actuarial area, with the potential to positively impact other departments across the organization and overall the results of the company. As the analyses typically rely upon complex processes, with the potential to change in connection with the organization’s needs, the Actuary will be accountable for ensuring that the processes are kept up-to-date and free of errors. The Actuary therefore acts as the SME (subject matter expert) for the actuarial analyses carried out, detailing the inputs and conclusions to others in the organization.
Knowledge, Skills and Abilities
Develops and performs reserving analysis for selected property and casualty insurance products offered by MAPFRE Insurance. Such analyses may include:
Analyses and recommendations relative to new or revised coverages, and relative to potential structural changes (class plans, amount of insurance relativity curves, etc)
Expert-level understanding and analysis of the components of actuarially sound rates and/or reserving methodologies, applied to a variety of contexts
Preparing the impacts of rate changes and non-rate actions using competitiveness analyses, retention and elasticity models, and business projections, ad hoc analyses on difficult questions and new challenges
Collaborates with senior management to ensure the analyses are interpreted correctly and appropriate action is taken
Stays up to date on industry trends and methods
Proposes new actuarial analyses that would add value to the organization.
Makes decisions related to a wide variety of situations. Interprets guidelines and procedures, applying judgment and discretion.
Provides training and guidance to less experienced staff, as well as leads them in team projects.
Retrieves and manipulates complex data
Pursues exams on the CAS syllabus.
Adheres to company policies and procedures as outlined in the Human Resources Policy Guide and follows departmental and functional area standards, rules, guidelines, processes, and policies as identified by management.
The advanced knowledge is in a field of science or learning customarily acquired by a prolonged course of specialized intellectual instruction.
Experience and Qualifications
Education : Bachelor's Degree or professional level of knowledge in a specialized field, or equivalent related experience
2-5+ years of experience or equivalent related knowledge
Minimum 3-6+ CAS exams passed, depending on experience
Experience with IFRS 17, a plus
Thorough knowledge of insurance operations and regulation
Experience carrying out quantitative analyses
Demonstrated capability to modify and/or innovate new processes
Actuarial, analytical, and coding expertise
Developing and implementing methodology or process improvements
Completing complex analyses independently
Effectively progressing on multiple long-term projects simultaneously
Proposing actions based on the results of an analysis
3+ years of experience in supporting at least 1 of the following areas of the business: PL / CL Product / Underwriting, Market Pricing, Claims, Actuarial - Reserving
If you require an accommodation for a disability so that you may participate in the selection process, you are encouraged to contact the MAPFRE Insurance Talent Acquisition team at talentacquisition@mapfreusa.com .
We are proud to be an equal opportunity employer.
Nearest Major Market: Worcester
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