Actuarial AssociateApply Location Shanghai, Shanghai Requisition Number R-85313
This position will provide high level support and detailed analysis in the areas of pricing, reserving, predictive modeling, reinsurance, and/or financial health of companies/clients with limited direction from manager.
Primary Job Accountabilities/
Pricing and underwriting
- Completes rate development for products offered in Asia
- Completes regular experience analysis to update pricing assumptions when relevant
- Gathers information and incorporates feedback from different internal departments
- Supports new business process with projections, sensitivities, actuarial memo and follow up questions
- Understands and applies basic underwriting principles
- Understands and applies basic reinsurance and CLIP principles
- Reviews contracting documentation to ensure consistency with pricing basis
Client and product support
- Understands the products offered in Asia and provides support to the business unit and functional areas
- Completes experience and/or profitability reviews independently for specified clients
Analysis and forecast
- Supports forecasting process as directed
- Shares relevant experience analysis findings with peers and other internal departments
- Knowledge of basic earnings methods and understands how they impact loss ratios and reserve analysis
- Proficient in the use of appropriate reserve methodologies
- Locates and reconciles data from various source systems; ensures accuracy and recognizes adjustments needed for possible data anomalies
- Supports IT with product set up
- Assists with collecting data and responding to inquiries from auditors and functional areas
- Identifies system and data inefficiencies; provide recommendations to resolve
- Proactively works to build strong relationships with business, peers, manager, and other departments
- Communicates realistic deadlines and prioritizes projects
- Understands how to leverage knowledge and skills from team and other functional areas to accomplish goals
Responsibility for work of others.
No management responsibilities
No P&L responsibility
Basic Qualifications Required - Experience, Skills, and Knowledge
- Insurance and Product Knowledge: Learnings related to products offered, product development, industry trends, capital management, and generally accepted actuarial principles on reserving and ratemaking
- Work Quality and Composition: Expertise related to providing details and requirements that are accurate, relevant, and complete, ensuring that the demands of the request are met
- Accounting, Finance & Regulatory Knowledge: Fundamental knowledge related to Finance Processes/Timelines, General Accounting Principles, and State/ Global Regulatory requirements
- Technical/Data Acquisition: Insight and abilities related to systems and software, needed to perform tasks related to data collection, reconciliation and analysis (i.e. client experience, ledger data,
- Relationship Building & Communication: skillsets needed to build purposeful business connections as well as improving the most important areas of sharing information, including verbal/nonverbal and written interactions.
- Project Organization & Team Collaboration: Capabilities relevant to planning, organizing and controlling areas surrounding personal deadlines and goals. Also builds on techniques in areas of delegation and improving team strength through peer to peer coaching and development.
- Conflict Management ability
- Mandarin speaker & English speaker
10% Travel may be required including international travel
Preferred Experience, Skills, and Knowledge
- Bachelor / Masters in MID LEVEL STUDENT ACTUARY
- Experience in INSURANCE industry
- Knowledge about INSURANCE, WARRANTIES, FINANCE
- Strong communicational skills
Benefits and Value Proposition
We offer a competitive salary and comprehensive benefits to full time employees.
We strive to maintain a professional, yet friendly environment and promote professional and career development for our employees.
Assurant is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.
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Whether I'm working with people in Argentina or Chile or Miami, we all feel like we're part of the same company. And within my own group, we share ideas and analyze as a team - and drive for change, for improvements. We'll show each other how we do things and lend advice.
I also enjoy the focus on work-life balance - in the workplace, we're offered exercise classes or stretching classes with a trainer, for example. I've had the flexibility to take classes and training. And, we have the opportunity to give back to the community through events held throughout the year.