At a Glance
- Tasks: Analyse risk and profitability using actuarial principles and prepare predictive modelling analyses.
- Company: Join American Modern Insurance Group, a leader in specialty insurance under Munich Re.
- Benefits: Enjoy hybrid work, health insurance, 401k matching, paid time off, and wellness programs.
- Why this job: Make an impact in a flexible environment while growing your career in a supportive culture.
- Qualifications: Bachelor's degree in a quantitative field and passed actuarial exams; GPA 3.2 or higher.
- Other info: Diversity and inclusion are key values; we support community volunteering and educational growth.
The predicted salary is between 28800 - 48000 £ per year.
American Modern Insurance Group, Inc., a Munich Re company, is a widely recognized specialty insurance leader that delivers products and services for residential property – such as manufactured homes and specialty dwellings – and the recreational market, including boats, personal watercraft, classic cars, and more. We provide specialty product solutions that cover what the competition often can't. We write admitted products in all 50 states and have a premium volume of $1.9 billion.
Headquartered in Amelia, Ohio, and with associates located across the United States, we are part of Munich Re's Global Specialty Insurance division. Our employees receive boundless opportunity to grow their careers and make a difference every day – all in a flexible environment that helps them succeed both at work and at home.
Purpose:
- Provide required technical expertise in the appropriate evaluation of risk and profitability based on sound actuarial and statistical principles and techniques.
- Prepare and complete actuarial and/or predictive modeling analysis appropriate for the functional area. May include ultimate loss projections, pricing studies, rate filings, risk capital modeling, portfolio analysis, and research projects or claims analytical studies.
- Participate in the development of actuarial presentations and present results/topics to managers or other team members.
- Completion of required data preparation, including data input. Identify data issues requiring specialized actuarial attention.
- Document and communicate results and alternatives to actuarial staff and internal customers.
- Modify existing tools and expand knowledge of relevant tools and technology.
- Participate in the development of new methodologies, products and procedures.
- Prepare for and pass actuarial exams.
- May assist in the training of new actuarial analysts.
Required Technical Skills:
- Strong analytical abilities including understanding of advanced mathematics and statistical concepts.
- Strong command of Excel (including VBA and macros) and other computer and MS Office Suite applications.
- Knowledge of data gathering and manipulation techniques and tools such as SAS, SQL, Access, R.
- Proven ability to pass actuarial exams.
Education, Certifications & Designations:
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, or similar background requiring quantitative analysis.
- GPA 3.2 or higher.
- Passed at least 1 exam for CAS designation for Analyst I (prefer 2).
- Passed at least 3 exams for CAS designation for Analyst II.
We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:
- Two options for your health insurance plan (PPO or High Deductible).
- Prescription drug coverage (included in your health insurance plan).
- Vision and dental insurance plans.
- Short and Long Term Disability coverage.
- Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes spouse/domestic partner and children).
- Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).
In addition to the above insurance offerings, our employees also enjoy:
- A robust 401k plan with up to a 5% employer match.
- A retirement savings plan that is 100% company funded.
- Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
- Eligibility to receive a yearly bonus as a Munich Re employee.
- A variety of health and wellness programs provided at no cost.
- A hybrid environment that gives you a choice in where and how you get work done.
- A corporately subsidized on-site cafeteria as well as a We Proudly Serve coffee shop.
- An on-site complimentary workout facility as well as walking trails on campus grounds.
- On-site wellness center complete with nurse practitioner.
- Financial assistance for adoptions and infertility treatment.
- Paid time off for eligible family care needs.
- Tuition assistance and educational achievement bonuses.
- Free parking.
- A corporate matching gifts program that further enhances your charitable donation.
- Paid time off to volunteer in your community.
At American Modern, a subsidiary of Munich Re, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Actuarial Analyst I or II employer: Nichols College
Contact Detail:
Nichols College Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Actuarial Analyst I or II
✨Tip Number 1
Familiarise yourself with the specific actuarial tools and software mentioned in the job description, such as SAS, SQL, and R. Having hands-on experience or even completing relevant online courses can give you a significant edge during interviews.
✨Tip Number 2
Network with current or former employees of American Modern Insurance Group or Munich Re. Engaging with them on platforms like LinkedIn can provide you with insider knowledge about the company culture and expectations, which can be invaluable during your application process.
✨Tip Number 3
Prepare to discuss your experience with predictive modelling and data analysis in detail. Be ready to share specific examples of projects you've worked on that demonstrate your analytical skills and how they relate to the responsibilities outlined in the job description.
✨Tip Number 4
Stay updated on the latest trends and developments in the insurance industry, particularly in specialty insurance. This knowledge will not only help you in interviews but also show your genuine interest in the field and the company.
We think you need these skills to ace Actuarial Analyst I or II
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience and skills that align with the job description. Emphasise your analytical abilities, knowledge of statistical concepts, and any experience with tools like Excel, SAS, or SQL.
Craft a Strong Cover Letter: Write a cover letter that showcases your passion for actuarial science and your understanding of the role. Mention specific projects or experiences that demonstrate your ability to evaluate risk and profitability.
Highlight Exam Progress: Clearly state your progress in passing actuarial exams. For Analyst I, mention at least one passed exam, and for Analyst II, highlight at least three. This shows your commitment to the profession.
Showcase Soft Skills: In addition to technical skills, highlight your communication and teamwork abilities. Mention any experience presenting findings or collaborating on projects, as these are important for the role.
How to prepare for a job interview at Nichols College
✨Brush Up on Actuarial Concepts
Make sure you have a solid understanding of actuarial principles and statistical concepts. Be prepared to discuss how you've applied these in your previous work or studies, as this will demonstrate your technical expertise.
✨Showcase Your Analytical Skills
During the interview, highlight specific examples where you've used data analysis to solve problems. Discuss any experience with tools like Excel, SAS, or SQL, as these are crucial for the role.
✨Prepare for Technical Questions
Expect technical questions related to risk evaluation and predictive modelling. Practise explaining your thought process clearly and concisely, as communication is key in presenting complex information.
✨Demonstrate Your Passion for Continuous Learning
Since passing actuarial exams is part of the job, express your commitment to ongoing education. Share your study strategies and how you plan to tackle future exams, showing that you're proactive about your professional development.