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Senior Actuary

Company: Kentucky Farm Bureau
Location: Louisville
Posted on: September 23, 2022

Job Description:

Overview
Support the insurance company leadership by overseeing the Actuarial functions. - Developing ratemaking strategies aimed to meet corporate objectives and developing strategies aimed to protect the company from risks associated with our insurance operations. - This position requires strong communication and excellent human relations skills as relationship development with company leadership is critical.
Responsibilities
ESSENTIAL FUNCTIONS
Collaborate with sales management, underwriting and claims leaders relative to underwriting operating performance and make recommendations that support a strong company business profile.
Analyze loss ratio experience, growth trends, and indications for every line of business and perform predictive modelling to support rate analyses.
Keep abreast of company and industry frequency and severity trends.
Make rate adjustment recommendations to the executive leadership team.
Supervise and assist department of insurance filings.
Supervise and assist with quarterly and annual loss reserve, anticipated salvage and subrogation, loss adjustment expense and ceded and assumed loss review analysis.
Prepare the analysis of premium deficiency reserves.
Prepare the year-end actuarial opinion on loss and loss adjustment expense reserves.
Supervise and assist as needed with completion of actuarial analyses and the annual data submission related to the AM Best Supplemental Rating Questionnaire (SRQ).
Provide leadership and development to actuarial team members along with other team members within Accounting and Finance.
Keep current on techniques for product rating and loss reserves along with reinsurance industry information.
Supervise and assist with annual budgets of premiums and losses for both direct and reinsurance business. -
Participate in preparation of weekly underwriting forecasts.
Attend industry events and conferences.
Regular, predictable attendance.
This list of essential functions is non-exhaustive and may be supplemented as necessary.
OTHER RESPONSIBILITIES
Maintain working knowledge of KFB products.
Stay advised of current industry trends.
Maintain continuing education requirements.
JOB SPECIFICATIONS
Physical demands: - Normal vision/hearing (with or without correction); Sitting; Speaking.
Mental demands: Analytical Reasoning; Prolonged Concentration; Ability to grasp new concepts quickly; Decision making ability.
Equipment: Personal computer.
Environmental factors: Standard office lighting, temperature, and noise.
Qualifications
MINIMUM EDUCATION/TRAINING REQUIREMENTS
Bachelor's degree required preferably in a field of study demanding skill in logical problem solving, such as Mathematics, Economics, Finance, or Computer Science.
In-depth knowledge of insurance products.
Broad knowledge of an insurance company's operational areas and automated processing systems.
Member in good standing of the Casualty Actuarial Society and the American Academy of Actuaries.
MINIMUM EXPERIENCE REQUIREMENTS
Five years of experience in various functional areas of an insurance company, including experience in an actuarial department.
Previous experience in personal lines pricing preferred.
Previous experience and/or training in management.
Previous experience or training in Market Research and analysis.
Proven ability to organize, be creative and innovative and react in a restrictive timeframe. Deadline oriented under time restraints.
Excellent organizational skills necessary to work simultaneously on multiple tasks of moderate size and complexity. -
Applicable computer software/programming knowledge. - Experience with Microsoft Excel or similar spreadsheet software is required.

Keywords: Kentucky Farm Bureau, Louisville , Senior Actuary, Accounting, Auditing , Louisville, Kentucky

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