Actuarial Analyst-EG

  • Jersey City, NJ, USA
  • Full-time
  • Verisk Business: Verisk Analytics
  • Department: Actuarial

Company Description

With a history of impressive growth, an innovative culture, and offering industry-leading solutions, Verisk Analytics is an amazing place to work and make a difference. In 2018, Forbes magazine named Verisk to its World’s Best Employers list and, in 2017, to its World’s Most Innovative Companies list for the third consecutive year. We also earned the Great Place to Work® Certification for the third consecutive year in recognition of our outstanding workplace culture. 

Verisk is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations integrated into customer workflows. We’ve been delivering predictive analytics and decision support solutions to our customers for nearly 50 years, helping them protect people, property, and financial assets. At Verisk, you’ll be part of an organization that’s committed to serving the long-term interests of our stakeholders, including the communities where we operate. 

At Verisk, you can build an exciting career with meaningful work; create a positive and lasting impact on the business; and find the support, coaching, and training you need to advance your career. Our culture of innovation means your ideas on how to improve our business will be heard. As key contributors to our success, our team members enjoy working in a business-casual, collaborative environment that offers state-of-the-art resources, advanced technologies, and an excellent benefits package. 

Job Description

The ISO unit of Verisk is looking for an Analyst to Senior Actuarial Analyst.  ISO is comprised of multiple divisions that utilize actuarial talent.  Several of these divisions are detailed below. 

The Analytical Data Management (ADM) division is ISO's data refinery, ensuring that ISO's analytical engines are properly fueled. As an analyst in ADM you will help our customers provide quality data, so ISO can provide them quality products. You will apply actuarial, data science and analytical skills, as well as big data technology, with the purpose of building innovative, automated processes for enhancing data quality. You will seek to improve your understanding of property casualty insurance through work experience, CAS, CPCU, and/or IDMA studies. You will strive to help our team operate efficiently through centralization and standardization of processes, and you will work proactively to address our customers' questions and concerns about data quality.

The Actuarial Operations (AO) division is responsible for providing actuarial services for all lines of business, and you will be involved in a variety of production and special projects.  Depending on your experience, you will be expected to possess or develop a broad set of skills to allow you to participate on several teams and projects, and the ability to handle different types of projects.  Also, you will be requested to look for efficiencies and enhancements to actuarial and business processes.  

The Data Engineering & Analytics Lab (DEAL) is responsible for the design and implementation of our core data-systems including data ingestion, data integration, data transformation, data analysis, and analytic dataset construction. We are an innovation group that is charged with visualizing the future of our organization’s operations and leveraging our expertise in data, technology, P&C insurance, and process optimization to provide a first-class analytics ecosystem to our data-collection, data-management, actuarial, and data-analytics colleagues.

The Data Products (DP) division is responsible for producing and enhancing property and casualty insurance based data products for one or more lines of business. You will also capitalize on the power of ISO databases to develop reports in response to customized data requests. In this role, you will utilize your technical/computer skills to support new product initiatives involving data and analysis to fulfill insurer information needs. In fulfilling your responsibilities, you will work with cutting-edge technology, i.e., Greenplum Computing Servers, SQL, and data visualization software. You will be tasked with reviewing data for reasonableness and assist in the preparation of promotional materials related to new data products developed by the Data Products division. You must be able to perform other duties as assigned.  You need to collaborate well with others, have excellent communication skills and be comfortable providing feedback. We want someone with creativity, high energy and high standards.

The Regulatory & Contractual Reporting Division (RCR) is responsible for preparing data reviews, regulatory filings and compilations in a timely and accurate manner for submission to state insurance departments and ISO affiliates.  Do you like working with data?  Does the idea of working with intelligent, team oriented individuals excite you?  Our analysts deal with data; data management and data analysis.  You will have the opportunity to utilize your skills in Excel and use complicated, yet useful tools like SQL and VBA.  We expect your communication skills are a part of the balance you bring to the table because responding to questions from customers (internal and external) and regulators on filings, circulars and other ISO products may be a part of your day to day job.  However, it’s not just about what we do.  It’s about what you do that can help us be a better company.  We will look to you to do research and provide your findings into how we can improve our processes and procedures. 

Title: Analyst to Senior Actuarial Analyst

Organizational Unit: ISO

Supervisory Responsibility: No

Responsibilities

  • Prepare products for regulators and internal & external customers in a timely and accurate manner.  Products may include loss cost reviews, filings, circulars, annual statistical filings, and customized data products to meet customer needs.
  • Work on other projects such as class plan reviews, territorial reviews, regulatory reports and fulfilling contractual obligations.
  • Writing and running computer programs to extract data for review and report compilation.
  • Review the quality of data submitted by insurance companies both on transactional and aggregate levels.
  • Develop more efficient, automated ways to improve processing including data quality and error detection processes.  This can include providing suggestions for improvements in ratemaking and data quality review procedures.
  • Help respond to questions from regulators and insurers on filings, circulars and other products.
  • Contact ISO’s insurer customers and other organizations regarding the reasonableness of reported data.
  • Make actuarial and data management presentations to Insurer Panels, insurers who report data to us and ISO users of data.
  • Collaborate with other ISO divisions (actuarial, analytical and technology) on improving data, products and procedures.
  • Become a subject matter expert on one or more lines of property-casualty insurance business
  • Perform other duties as assigned. 

Qualifications

  • Graduate or Bachelor's degree with a major in Mathematics, Data Science, Statistics, Economics, Risk Management, Operational Research or related discipline.
  • 1-3 years of Property-Casualty insurance work experience preferred.
  • Passing of at least one actuarial exam is preferred.
  • Data management skills or knowledge of insurance data management principles is a plus.
  • Experience in quantitative and qualitative data analysis.
  • Some familiarity with insurance coverages, actuarial methodologies and quality control.
  • Technical background should include a working knowledge of MS Office applications and understanding of computer programming concepts.
  • Knowledge of SQL, SAS, R, ETL tools or Business Rules Engines is a plus
  • Background experience in Tableau, Spotfire, COGNOS, or other data visualization software would be advantageous.
  • Strong written and oral communication skills.
  • Ability to work independently and as part of a team.
  • Ability to work under time constraints, multi-task, and adjust plans in the face of changing priorities.
  • Continued desire and ability to learn.
  • Ability to perform essential job duties with or without reasonable accommodation. 

All members of the Verisk Analytics Family of Companies are equal opportunity employers. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, or any other legally protected classification.

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