Actuarial Analyst I

Full job description

Division or Field Office:

Actuarial Division

Department of Position:

Pricing Department

Work from:

Corporate Office, Erie PA

Salary Range:

$54,176.00 - $86,542.00 *

salary range is for this level and may vary based on actual level of role hired for

• This range represents a national range and the actual salary will depend on several factors including the scope and complexity of the role and the skills, education, training, credentials, location, and experience of an applicant, as well as level of role for which the successful candidate is hired. Position may be eligible for an annual bonus payment.

At Erie Insurance, you’re not just part of a Fortune 500 company; you’re also a valued member of a diverse and inclusive team that includes more than 6,000 employees and over 13,000 independent agencies. Our Employees work in the Home Office complex located in Erie, PA, and in our Field Offices that span 12 states and the District of Columbia.

Benefits That Go Beyond The Basics

We strive to be Above all in Service® to our customers—and to our employees. That’s why Erie Insurance offers you an exceptional benefits package, including:

• Premier health, prescription, dental, and vision benefits for you and your dependents. Coverage begins your first day of work.
• Low contributions to medical and prescription premiums. We currently pay up to 97% of employees’ monthly premium costs.
• Pension. We are one of only 13 Fortune 500 companies to offer a traditional pension plan. Full-time employees are vested after five years of service.
• 401(k) with up to 4% contribution match. The 401(k) is offered in addition to the pension.
• Paid time off. Paid vacation, personal days, sick days, bereavement days and parental leave.
• Career development. Including a tuition reimbursement program for higher education and industry designations.

Additional benefits that include company-paid basic life insurance; short-and long-term disability insurance; orthodontic coverage for children and adults; adoption assistance; fertility and infertility coverage; well-being programs; paid volunteer hours for service to your community; and dollar-for-dollar matching of your charitable gifts each year.

Position Summary

• The Hiring Manager will also consider candidates for Actuarial Analyst II. Level of position offered will be based upon the depth and breadth of selected candidate's experience and qualifications.

Conducts basic actuarial analysis. Collects and analyzes data in support of ERIE’s property/casualty product pricing, enterprise risk management, loss reserving, data science, and/or predictive modeling disciplines.

Duties and Responsibilities

Conducts basic rate reviews, prepares rate studies, and provides pricing recommendations. With guidance, acts as a project coordinator for the rate review process. Coordinates rate review project teams composed of product development, underwriting, claims and sales personnel. Prepares materials to support state insurance department rate filings, manual pages, and system rate tables.

Conducts basic loss reserving reviews and claims-related studies. Provides reserving recommendations. Prepares materials to support financial reports, leadership communications, and statements of actuarial opinion.

Performs basic risk assessments and builds enterprise risk reports. Maintains sophisticated capital and catastrophe models, and otherwise supports ERIE’s enterprise risk management program. Supports reinsurance decision making with basic analysis.

Provides basic data insights and builds predictive models for pricing, claim management, marketing, underwriting, product, and other enterprise initiatives. Assists with solutions for business problems using a data-driven focus and data science techniques. Uses statistical tools to perform basic analysis and summarize findings.

Works closely with experienced departmental staff and learns actuarial techniques, data sources and computer programs as required. Creates exhibits, reports, maps and charts for actuarial studies and regulatory requests. Analyzes ERIE's financial data and industry statistical information and prepares periodic updates for management, using appropriate presentation format. Completes special projects as required.

Develops and maintains procedures to improve work flow and productivity.

Presents studies, findings, risks, and recommendations to management and communicates with other departments as required.

Develops and applies a basic knowledge of actuarial procedures used by ERIE, competitors, rate bureaus, rating agencies, and regulators.

Visits field offices and/or Agent meetings as required to present actuarial information.

The first four duties listed are the functions identified as essential to the job. Essential functions are those job duties that must be performed in order for the job to be accomplished.

This position description in no way states or implies that these are the only duties to be performed by the incumbent. Employees are required to follow any other job-related instruction and to perform any other duties as requested by their supervisor, or as become clear.

Competencies

Values Diversity

Nimble Learning

Self-Development

Collaborates

Information Management Skills

Customer Focus

Cultivates Innovation

Job-Specific Knowledge

Instills Trust

Optimizes Work Processes

Decision Quality

Ensures Accountability

Qualifications

Bachelor's degree in mathematics or a related field required. Successful completion of one actuarial exam and demonstrated exam progress required. Basic knowledge of spreadsheet, database and related software required. Some previous programming experience preferred.

Physical Requirements

Lifting/Moving 0-20 lbs; Occasional (<20%)

Lifting/Moving 20-50 lbs; Occasional (<20%)

Driving; Rarely

Pushing/Pulling/moving objects, equipment with wheels; Occasional (<20%)

Manual Keying/Data Entry/inputting information/computer use; Often (20-50%)

Climbing/accessing heights; Rarely

Ability to move over 50 lbs using lifting aide equipment; Rarely