Arch Capital Group Ltd

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Actuarial Analyst

at Arch Capital Group Ltd

Posted: 10/2/2019
Job Reference #: 3028
Categories: Insurance
Keywords: insurance, claims

Job Description

  • EntityArch U.S. MI Services Inc
    Job LocationsUS-NC-Greensboro
    Job ID
    2019-3028
    Business Segment
    Mortgage
    # of Openings
    1
    Category
    Actuarial
  • The Position

    The Actuarial Analyst provides analytical and developmental support to Actuarial management and other departments in the areas of loss reserving, forecasting and statutory reporting. The incumbent performs a variety of tasks that require strong quantitative skills, problem solving ability and knowledge and experience in actuarial science.

    Arch MI is a new and growing mortgage insurance company with a strong and global parent – Arch Capital Group Ltd. If you’re interested in joining a dynamic company and working with a team of motivated, high caliber people, apply today and come grow with us!

    Job Responsibilities

    1. Supports Loss Reserving and Statutory Reporting functions. Performs reserve analyses and/or reserve reporting for multiple business segments, including assumed and ceded loss reserves.
    2. Assists in the quarterly analysis of reserve variability, including development of statistical reserve ranges that are communicated to senior management.
    3. Creates monthly and quarterly reserve reports for management and assists in the presentation of these reports.
    4. Translates forecasting model output into data suitable for reporting and analysis. Assists in the quarterly analysis of Arch’s Realistic Disaster Scenario forecast.
    5. Produces periodic reports monitoring the accuracy, stability and sensitivity of company forecasting and reserving models. Communicates results to model developers and management.
    6. Assists in the analysis and quantification of the reserve impact of changes to the claims settlement process (such as the implementation of Fannie Mae’s Claim Factors), utilizing company databases, financial reports, and external data.
    7. Evaluates reinsurance contracts and incorporates reinsurance contract terms into company forecasting models.
    8. Develops and verifies the accuracy of input for company financial statements.
    9. Develops ad hoc reports and data. Distributes information both internally and externally as needed.
    10. Assists in the design, development and updates of new actuarial methodologies and data reporting systems.
    11. Analyzes the impact of insurance law and mortgage industry changes.
    12. Develops checking procedures to determine data accuracy.
    13. Develops and maintains reserving and forecasting computer files, accurate records of reserving assumptions and other related information.

    Required Skills/Experience

    Knowledge & Skills:

    1. In depth knowledge of the practices and procedures of actuarial science.
    2. Strong mathematical skills, highly proficient in probability and statistical analysis.
    3. Strong interpersonal and communication skills to work effectively with internal and external contacts and to present technical information to senior management.
    4. Effective organizational skills with the ability to create implement and monitor projects of varying difficulty.

    Desired Skills/Experience

    Knowledge & Skills:

    1. In depth knowledge of the practices and procedures of actuarial science.
    2. Strong mathematical skills, highly proficient in probability and statistical analysis.
    3. Strong interpersonal and communication skills to work effectively with internal and external contacts and to present technical information to senior management.
    4. Effective organizational skills with the ability to create implement and monitor projects of varying difficulty.

    Education

    Required knowledge and skills would typically be acquired through a Bachelor's degree with completion of at least 2 Actuarial exams, and 0-2 years of job-related experience. With no experience an actuarial internship is highly recommended.

    The Company

    About Our Company

    Arch Mortgage Insurance Company is the flagship U.S.-based mortgage insurer of Arch Capital Group Ltd., a leading insurance and reinsurance company operating through its subsidiaries worldwide. Based in Greensboro, North Carolina, our company is committed to our employees and our customers. Our Total Rewards package offers competitive pay and valuable benefits. Plus you’ll have access to a variety of programs supporting your professional development and a culture that encourages innovation, collaboration and professional growth.