LOCATION: Altona or Winnipeg
REPORTS TO: Manager, Analytics
DIRECT REPORTS: N/A
Red River Mutual is considered one of Insurance Business Canada's Top Insurance Workplaces of 2021!
Red River Mutual is a progressive insurance company with a focus on our customers and employees. We believe everyone has a right to feel safe and protected, and to know that someone is looking out for them. So, we treat our employees like family members – we will be honest with them, support them, offer a listening ear, admit when we are wrong and be a positive force in their lives and in our communities.
PURPOSE OF POSITION:
The Actuarial Analyst III will play a key role in supporting the organization’s pricing strategy as we develop our in-house actuarial expertise for the company. This position will focus specifically on commercial pricing and the commercial line of business. The successful candidate will participate actively in the updating of innovative pricing techniques in a way that minimizes the adverse impact on customers and spurs profitable growth while contributing to the development in management, financial and actuarial data, models, or tools.
IS THIS ROLE FOR YOU?
- You want to apply your expertise to support a growing organization
- You like challenging the status quo in actuarial pricing and analytics
- You enjoy working with a small tight-knit actuarial team
- You want to play a key part in developing the actuarial support for Red River Mutual
KEY RESPONSIBILITY AREAS:
- With a focus on the commercial line of business, design and develop product ratemaking, including rate change methodology in accordance with industry best practice.
- Develop predictive models that are useful in rate and price modelling, periodic claim, and revenue forecasts.
- Develop metrics to access and monitor the health portfolios of all company's products and ensure that such metrics are updated from time to time.
- Maintain and update, when necessary, all pricing and ratemaking models for all line of business.
- Using trend and insight analysis, monitor the performance of all line of business in terms of rate competitiveness in the market.
- Using advanced modeling techniques and actuarial analysis techniques to develop rate indications and segmentation models for all our lines of business.
- Perform periodic rate and pricing reviews for all lines of business; provide quality recommendations and implementation strategy.
- By focusing on both historical and external data, perform advanced actuarial analyses to uncover patterns, trends, insight, etc., which can be used for product improvement and development.
- Provide actuarial supports by collaborating with other stakeholders when new products are developed.
- Conduct regular reviews to ascertain the quality of pricing, rate, and monitor the market penetration of the company's products to ensure market competitiveness.
- Mentor new and junior actuarial analysts to develop their capacity in the application of actuarial techniques and methods.
QUALIFICATION AND SKILLS:
- Minimum education of a university degree in Actuarial Mathematics, Statistics, Mathematics, or another related field of study.
- Minimum 5 years of actuarial analysis experience in the insurance environment, preferably in the commercial line of business.
- Actively pursing ACAS or FCAS designation
- Completion of a minimum of six casualty actuarial exams.
- Experience working with predictive analytic tools and techniques. Experience in data analytics and building predictive models is preferred.
- Experience in Python and R would be considered an asset.
- Excellent written and oral communication and interpersonal skills in business and user-friendly language.
- Process driven with ability to document, maintain and adhere to standards, procedures, and processes.
- Adaptable and flexible to changing business needs and priorities.
- Exceptional planning, organization, and prioritization skills.
- Highly motivated work ethic and able to be self-directed to complete tasks.
- High attention to detail and quality standards.
We thank all applicants for their interest; however only those selected for an interview will be contacted.
Accommodation for applicants with disabilities is available upon request any time during the recruitment process. Our Accessible employment policies and practices are available on request and in accessible formats. Applicants with disabilities can request accessible formats of communication and/or request an alternative method of applying for a position by contacting email@example.com or 1-800-370-2888 (toll free).