Actuary - Chicago Illinois

Company: W. R. Berkley Corporation
Location: Chicago, Illinois
Posted On: 04/05/2025

Company DetailsBerkley Construction Solutions (BCS) offers lead and excess liability capacity to the commercial construction industry. Our team of dedicated, experienced excess construction specialists underwrites practice and project business for medium to large contractors across the U.S. At BCS, our guiding principles are authenticity, trust, and passion. The team culture is inclusive, high energy, and fun.Company URL: The company is an equal opportunity employer.ResponsibilitiesThe Actuary is responsible for ensuring that price levels and loss reserves are adequate (pricing and reserving), assessing the profitability of the business being underwritten (profitability analysis), and assisting finance with financial reporting requirements. The Actuary will provide management with research and analysis required for strategic initiatives, while also assisting in the development, maintenance, and oversight of various databases, software, and other technological tools in support of Berkley Construction Solutions.

• Strong commitment to the WRBC/Berkley Construction Solutions culture: innovative, transparent, and engaging.
• Lead the completion of rate reviews and indications; supports price monitoring and development of company pricing strategies.
• Collaborate with underwriting to meet their business needs from a pricing/profitability perspective.
• Work with underwriting to monitor, evaluate, and continue the development of Benchmark Pricing Tools for purposes of monitoring and measuring rate adequacy.
• Collaborate with the data management team in developing and maintaining data as required for reserving and reporting needs.
• Responsible for monthly rate monitor and actual versus expected reporting and analysis.
• Leads the preparation of loss and expense reserves estimates. Responsible for determining expected loss ratios during the annual budgeting process.
• Responsible for profitability analysis to determine if desired returns are being realized.
• Responsible for actuarial items needed for SOX compliance.
• Assist finance with the preparation of quarterly financial statements, including Schedule P.
• Provide analysis to assist with reinsurance renewals as needed.
• Maintains actuarial policies and standards, ensuring they are consistent with regulator and corporate standards.
• All other duties as assigned.Qualifications
  • 10+ years actuarial experience in property casualty insurance.
  • Excess insurance, excess construction experience preferred.
  • Innovative, strategic thinker, and strategic planning experience and capabilities.
  • Excellent written and oral communication, presentation, influencing, and leadership skills.
  • Proficient use of computer applications, including MS Office Suite.
  • Expert level MS Excel skills required.
  • Database programming skills (Access, SQL, etc.)
  • Well organized and ability to work without constant supervision.Education Requirement
    • Bachelor's degree.
    • Associate or Fellow Designation.
    • Meet annual CAS and/or AAA continuing education requirements.Additional Company DetailsWe do not accept any unsolicited resumes from external recruiting agencies or firms. The company offers a competitive compensation plan and robust benefits package for full-time regular employees which for this role include:
      • Base Salary Range: $120,000 - $190,000
      • Eligible to participate in annual discretionary bonus.
      • Benefits: Health, Dental, Vision, Life, Disability, Wellness, Paid Time Off, 401(k), and Profit-Sharing plans.The actual salary for this position will be determined by a number of factors, including the scope, complexity, and location of the role; the skills, education, training, credentials, and experience of the candidate; and other conditions of employment.Sponsorship DetailsSponsorship not offered for this role.
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