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Insurance Quant Jobs in Indiana (NOW HIRING)

Allied Solutions LLC

UX Researcher

Carmel, IN

They plan research activities, conduct both qualitative and quantitative research methods, analyze ... Our comprehensive benefits include: medical, dental and vision insurance coverage; 100% company ...

Allied Solutions LLC

UX Researcher

Carmel, IN · On-site

They plan research activities, conduct both qualitative and quantitative research methods, analyze ... Our comprehensive benefits include: medical, dental and vision insurance coverage; 100% company ...

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Insurance Quant information

What are insurance quants?

Insurance quants, or quantitative analysts in the insurance industry, use mathematical, statistical, and computational methods to analyze risk, price insurance products, and optimize investment strategies for insurance companies. They develop models to assess the likelihood of claims, determine appropriate premiums, and ensure the company's financial stability. Insurance quants often work closely with actuaries, but focus more on advanced quantitative techniques and financial modeling. Their work helps insurance firms make data-driven decisions and maintain competitiveness in the marketplace.

What are the key skills and qualifications needed to thrive as an Insurance Quant, and why are they important?

To thrive as an Insurance Quant, you need strong quantitative skills, a background in mathematics, statistics, or actuarial science, and often an advanced degree such as a master's or PhD. Proficiency with programming languages (like Python or R), statistical modeling tools, and actuarial software is typically required, along with relevant certifications such as actuarial credentials (e.g., SOA, CAS). Excellent problem-solving abilities, attention to detail, and the capacity to communicate complex analyses to non-technical stakeholders are standout soft skills. These competencies are critical for accurately assessing risk, pricing insurance products, and supporting data-driven decision-making in the insurance industry.

What is the difference between Insurance Quant vs Actuary?

AspectInsurance QuantActuary
Required CredentialsAdvanced degrees in mathematics, statistics, or finance; often CFA or FRM certificationsProfessional actuarial certifications (SOA, CAS), exams required
Work EnvironmentQuantitative teams within insurance companies, hedge funds, or consulting firmsInsurance companies, consulting firms, government agencies
Job FocusDeveloping models for risk assessment, pricing, and financial strategiesCalculating insurance premiums, reserving, and risk management
Common Search/ComparisonInsurance Quant vs Actuary

Insurance Quants and Actuaries both work in the insurance industry with a focus on risk and financial modeling. Quants typically use advanced mathematics and programming to develop models, while actuaries focus on pricing and reserving using actuarial exams and certifications. Both roles require strong quantitative skills, but their daily tasks and certifications differ.

How does an Insurance Quant typically collaborate with underwriters and actuaries in their daily work?

An Insurance Quant frequently works alongside underwriters and actuaries to analyze risks, develop pricing models, and evaluate policy portfolios. Collaboration often involves sharing statistical insights, validating risk assumptions, and refining predictive models to ensure accurate and competitive insurance products. Regular meetings and data-sharing sessions help align quantitative findings with business objectives, enabling the team to make informed decisions on product design, pricing, and risk management. This close teamwork is crucial for integrating advanced analytics into traditional insurance processes and driving innovation within the organization.
What are popular job titles related to Insurance Quant jobs in Indiana? For Insurance Quant jobs in Indiana, the most frequently searched job titles are:
What job categories do people searching Insurance Quant jobs in Indiana look for? The top searched job categories for Insurance Quant jobs in Indiana are:
What cities in Indiana are hiring for Insurance Quant jobs? Cities in Indiana with the most Insurance Quant job openings:
Insurance Quant jobs near you

Quantitative Modeling and Research Analyst (II or Senior)

Federal Home Loan Bank of Indianapolis

Indianapolis, IN • On-site

Full-time

Medical, Dental, Vision, Retirement

Posted 26 days ago

Job description

Is it a Bank? A cooperative? A leader in affordable housing? We are all those things and more!
Our core mission at FHLBank Indianapolis is to provide reliable and readily available liquidity to our member institutions to support housing finance and community development. Simply put, we're a bank for banks, credit unions, community development financial institutions and insurers across Indiana and Michigan. We also assist in meeting the economic and housing needs of communities and families through grants and subsidized advances that support affordable housing and economic development.
But enough about us, let's talk about you.
Are you looking for a company that views their employees as their greatest asset?
A company that's dedicated to making a difference in the community? So much so they pay their employees to volunteer?
Do you want to join a talented workforce that prioritizes equal opportunity within an inclusive culture, and promotes learning and development, unique skills/ideas, and employee engagement?
If you've said yes to these questions, then we might be a match!
Here is what we offer:
  • Flexible hybrid workforce model: Onsite three days a week and two days remote. We also offer remote flex days!
  • Fantastic, competitive pay and total rewards
  • Industry-high 401(k) match: up to 6% PLUS...an additional 4% contribution!
  • Tuition reimbursement assistance: To help you continue to develop personally and professionally.
  • Student loan repayment assistance: That's right, we will help you repay outstanding student loans!
  • Awesome Benefits Package: Medical, dental, vision benefits and even pet (you read that right) insurance!
  • Generous time off: Vacation, paid federal holidays, birthday month floating holiday, volunteer day and summer hours program
  • "Dress for your day" dress code: You choose the appropriate work attire based on what your day looks like.

Statistics show that it is less likely for some candidates to submit their application if they don't meet all the criteria within the job description. If this is you, we encourage you to give yourself a chance and submit your application anyway, as you may be the perfect match for this role!
Purpose:
The Quantitative Modeling and Research Analyst (II or Senior) is responsible for the development and maintenance of various financial models used across the organization. The role resides in the Modeling & Analytics Group (M&A) within the Enterprise Risk Management (ERM) department. Through these responsibilities, the M&A Group works closely with several lines of business, as well as with Information Technology, Model Risk Management, and Internal Audit.
The following statements are intended to describe the general nature and level of work being performed by people assigned to the job. They are not intended to be an exhaustive list of all responsibilities or abilities required. The Bank reserves the right to alter or amend this description at any time.
Specific Responsibilities:
  • Implements, tests, and operates a diverse range of models for loan valuation, pledged collateral hair-cut, probability of default, loss estimation, etc.
  • Utilizes modeling, statistical, and computational techniques to test, evaluate, and calibrate/tune various credit and market risk models, as well as to set data analytics complementary to model use.
  • Establishes and maintains model documentation for theory, settings, assumptions, change control, model performance monitoring, and model use guides in coordination with the Model Risk Management Group, as well as the Regulatory Advisory Bulletins.
  • Explains model details, theory, assumptions, and settings to Model Users and others across the organization.
  • Supports model validation requests and resolves model validation findings or recommendations.
  • Interacts directly with Model Validators and Regulators with regard to model settings, assumptions, implementation, etc.
  • Leads the process to develop required model enhancements.
  • Stays current on methodologies, statistical, mathematical, analytical, and computational techniques related to model management and development.

Competencies:
Business
  • Analytics Knowledge
  • Research Knowledge
  • Quantitative Implementation Knowledge

General
  • Maintaining Institutional Knowledge
  • Results-driven
  • Time Management

People
  • Communication
  • Interpersonal Skills

Position Requirements:
  • Graduate degree, Master's or PhD, in Mathematics, Quantitative Analysis, Statistics, Operations Research, Financial Engineering, or any other quantitative field. CFA or/and FRM certifications are a plus.
  • Preferred 2 years of experience for an Analyst II and 3+ years of experience for a Senior Analyst doing quantitative research, risk management, or any other quantitative related work. Previous experience in model development is desired.
  • Preferred 2 years of experience for an Analyst II and 3+ years of experience for a Senior Analyst in a commonly used programming language, such as Python, C/C++.
  • Experience with Asset/Liability and valuation software models, such as Polypaths, QRM is a plus.
  • Experience with database management concepts and tools, such as SQL is a plus.
  • Attention to detail, ability to multi-task, and high degree of initiative and independence.
  • Verbal, written, and interpersonal skills to communicate effectively with all levels of Bank personnel.
  • Must not have been convicted of any civil or criminal charge that would suggest a risk to Bank security.
  • Ability to work full-time.
  • Ability to uphold and model the Bank's Guiding Principles.

Hiring Range: Senior Analyst: $93,000 - $110,000, Analyst II: $85,000 - $100,000
Hiring ranges reflect the base salary that the Bank reasonably expects to pay for a given role and is not inclusive of annual incentive award opportunities, retirement benefits or the value of other health and welfare or other ancillary benefits. We consider many factors when determining base salaries such as individual background and experience, the competitive environment, education, particular skill set(s), and industry and institutional knowledge.
FHLBank Indianapolis is an Equal Opportunity Employer.

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