Actuary - Small Business
Posted on: January 17, 2020
Purpose of JobWe are currently seeking a talented Actuary - Small
Business for one of the following locations: San Antonio Home
Office I, Remote, Phoenix Campus, Colorado Springs Campus, Tampa
Crosstown, Tampa Campus or Chesapeake.
Prepares and communicates actuarial analyses to develop, price and
file new Small Business Insurance (SBI) product. Projects
appropriate costs to ensure adequate, equitable and competitive
rates for USAA members. Reviews industry and competitor filings to
determine optimal rating structures. Builds and/or expands
databases to launch, monitor and scale SBI. Prepares state rate
filings, communicates with DOIs, and negotiates successful/timely
approvals. Resolves issues and navigates obstacles to deliver MVP.
Monitors price levels, structures, close rates and other metrics to
maintain profitability and competitiveness. Tests pricing
assumptions and corresponding premiums for new Small Business
Coordinates, prepares and performs actuarial analyses required to
develop new products, project future results, reprice existing
products, and/or determine financial strength. Under minimal
supervision, performs complex work assignments and problem
resolution.Job RequirementsJOB DUTIES
- Acquires and applies advanced knowledge of the business, its
products, and processes.
- Utilizes actuarial modeling software driven models for pricing,
valuation, and/or risk management.
- Enters data and tables, runs models, and generates
- May make adjustments and improvements to models, when
- Maintains proper price level, price structure, data
availability and other requirements to achieve profitability and
- Identifies critical experience areas to monitor and suggest
timely remedies to correct or prevent unfavorable trends.
- Identifies sources of gain and loss by product and
- Tests pricing assumptions and the appropriate premiums,
interests margins, reserves, and cash values for new products.
- Provides insight to management on issues.
- Serves as a resource to team members on escalated issues of an
- Develops and manages requirements to deliver agile business
changes, exceptional member experiences, and/or integrated
- Leads and provides direction in gathering most complex business
rules and requirements.
- Defines business problems.
- Develops business artifacts.
- Leads the design, development and implementation of highly
complex business solutions.
- Performs highly complex analysis/design, coding and testing in
support of project responsibilities.
- Applies a holistic understanding of the business
- Strategically partners with IT to influence the design,
alignment, and implementation of technical business standards.
- Provides direction and support for production and operational
business issues.Minimum Requirements
- Bachelor's Degree. 4 additional years of
Actuarial/business/analytical experience beyond the minimum
required may be substituted in lieu of a Degree.
- 8 years Actuarial/business/analytical experience + ACAS held
for 5 years Or 6 years Actuarial/business/analytical experience +
- Experience using predictive analytics and third-party data for
pricing and underwriting development
- BOP pricing experience and/or other commercial lines
- Working knowledge of ISO, SERFF and SNL circulars, filings,
forms to replicate / stress test rating algorithms
- SQL, SAS, R and/or Python programming skillsThe above
description reflects the details considered necessary to describe
the principal functions of the job and should not be construed as a
detailed description of all the work requirements that may be
performed in the job.At USAA our employees enjoy one of the best
benefits packages in the business, including a flexible business
casual or casual dress environment, comprehensive medical, dental
and vision plans, along with wellness and wealth building programs.
- Additionally, our career path planning and continuing education
will assist you with your professional goals.Relocation assistance
is available for this position.
Keywords: USAA, Portsmouth , Actuary - Small Business, Accounting, Auditing , Portsmouth, Virginia
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