Actuary Development Programs Jobs in Massachusetts

Actuary - US Programs

At AIG, we are reimagining the way we help customers to manage risk. Join us as an Actuary - US Programs to take on key responsibilities within a world-class actuarial function.

Make your mark in the Actuarial Team

As an actuary at AIG, you will be challenged and encouraged to reach your greatest potential. Every day will bring new opportunities to stretch your analytical and problem-solving skills as you improve how we predict and mitigate risk. Our actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG's major regulated and rated insurance operating companies globally. Our actuaries support AIG's businesses and are responsible for technical pricing, product development analytics and performance measurement. They collaborate with Marketing, Operations and Financial Management.

How you will create an impact

We are seeking a senior pricing actuary to support our growing US Programs business. The actuary will help elevate the technical capabilities of the underwriting team through dynamic work projects such as new program due diligence & onboarding, rate filings, rate studies, price monitoring, trend analyses, and building out portfolio management & steering and insight tools. The individual will be a trusted business partner, working with groups like underwriting and product development to understand account decision making and pricing practices to support Programs in ensuring profitable growth. This will also be a external/client facing role as the actuary will engage with MGA Underwriters and Actuaries. Our actuaries work closely with our MGA partners as well, providing insight and tool assistance as a value add for our business.

What you need to know

• Lead rate studies and communicate results for the US Programs segments. Identify areas to explore further to diagnose potential areas of concern and recommend remediation strategies

• Perform due diligence analyses for prospective business and support onboarding for approved programs

• Manage renewal process for large/national accounts

• Support rate filings for admitted programs, collaborating with product development and general counsel

• Work closely with underwriting business partners to review market trends, understand portfolio shifts, identify pockets of profitable business, and help management develop and quantify the impact of underwriting actions

• Establish and manage relationships with MGA partners and actuaries

• Understanding of reinsurance structures and the ability to calculate cost of reinsurance

• Estimate, review, and evaluate actual monthly claim emergence against expectations

• Support the annual planning process

• Ensure model validation, SOX compliance and documentation standards are met

What we're looking for

• BS in Actuarial Science, Mathematics, Statistics, or related area preferred

• ACAS or FCAS credential

• 6+ years Programs pricing experience or 6+ years of Treaty Reinsurance Pricing, or 8+ years of P&C pricing experience in multiple lines

• Experience across a broad array of Commercial Lines, including: Property, Auto, General Liability, and Professional Liability

• Familiarity with CAT models and the modeling process

• Experience with traditional (reinsurance) and non-traditional transfer of risk vehicles (Lloyd's Syndicate)

• Experience in SQL and/or R highly preferred, Power BI or Tableau preferred

• Strong relationship building skills, with the ability to influence others and drive a process to a conclusion while meeting critical deadlines are critical to success.

• Ability to dive into technical and execution level details, do hands-on work, connect the dots while thinking strategically.

• Work well both independently and as part of a team

• Flexibility and effective time management skills

• Excellent communication, presentation, and interpersonal skills

The base salary range for this position is $140,000-$175,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we're proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits Overview.

#LI-AIG #Actuary

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what's most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security-as well as your professional development-to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world's most far-reaching property casualty networks. It is an exciting time to join us - across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of inclusion

We're committed to creating a culture that truly respects and celebrates each other's talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG's greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to candidatecare@aig.com.