Actuary & Director - PCS

Actuary & Director - PCS

At AIG, we are reimagining the way we help customers to manage risk. Join us as a Actuary & Director - PCS 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 dynamic actuary to manage and own the manage the filings review process for our High-Net-Worth Personal Lines Program. You will also be involved in ad-hoc pricing projects as it relates to strategy and remediation. This is a highly collaborative and visible role in which you will work with key stakeholders across multiple functions throughout the organization. Given the financial planning and monitoring nature of the work your work will directly influence senior leadership business decisions around portfolio growth, profitability and strategy. We are looking for someone with an entrepreneurial mindset that not only wants to further their technical skills but also their business acumen. Candidate must have skills to work within a team while contributing directly in select areas as needed. Background in pricing, reserving and reinsurance is strongly preferred. Familiarity with personal lines & homeowners is a plus.

What you need to know

• Act as the point of contact for all filings related review work prepared by our Program Administrator's (PA) actuarial team. This will include base rate filings, form filings, and model/segmentation filings
• Review and opine on proposed methodology and template changes by the PA actuarial team
• Lead discussions regarding state indication review, including reconciliation of differing indications with the PA actuaries
• Understanding of reinsurance and how to calculate cost of reinsurance for indication/filings work
• Work with the PA to come up with remediation strategies for the products/states as needed
• Build and maintain dashboards for key KPIs as it relates to topline/production and plan loss ratio tracking
• Provide recommendations and insights on topline policy and premium drivers
• Analyze proposed growth and remediation strategies and estimate impact to top and bottom-line results
• Work with finance in providing the necessary information needed for quarterly close and P&L reports
• Establish and maintain relationships with cross function teams (UW, Finance, Ceded Re, IT) to ensure we are collecting the appropriate and necessary data to make informed decisions
• Direct process improvements weighting cost and benefit to reduce manual work efforts and improve efficiency and accuracy

What we're looking for

The candidate should possess strong technical and business expertise with the ability to build sustainable, collaborative relationships, influence business stakeholders, and lead, motivate and gain commitment from key constituents.

Additional requirements include:

• Associate or Fellow of the Casualty Actuarial Society with 6+ years of actuarial experience in Personal Lines pricing
• Experience across multiple Personal Lines products (Auto, Home, Umbrella, Yacht, Collections)
• Experience with the Personal Lines filings process, including calls with the Departments of Insurance
• Familiarity with CAT models and the modeling process
• Experience with traditional (reinsurance) and non traditional transfer of risk vehicles.
• Ability to interact with various levels of senior management, external clients, and external actuaries
• Strong technical skills in Excel, SQL, and VBA
• Exceptional communication skills, including ability to develop and present clear and concise analysis and recommendations to senior management
• Willing and able to continuously learn and adapt in a dynamic and fast changing environment.
• Ability to dive into technical and execution level details, do hands-on work, connect the dots while thinking strategically and serve as strong thought partner of cross functional leaders

For positions based in New York, the base salary range is $159,000-$204,000, for positions based in New Jersey, the base salary range is $152,000-$196,000, for positions based in Illinois, the base salary range is $146,000-187,000. In addition, 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