We are seeking a Workers Compensation Actuary to join our North America Pricing team in our New York City office.
As a Workers Compensation Actuary, you will provide key pricing support and profitability monitoring of our Workers Compensation business. There will be opportunities to be involved in a broad array of projects and to contribute more broadly to Sompo’s success.
Responsibilities
- Provide strategic actuarial leadership for the Workers Compensation portfolio
- Partner with underwriters to identify pockets of opportunity, remediate underperforming segments, and develop strategic initiatives
- Quantify the impact of prior underwriting changes and assess new strategies to improve the portfolio
- Monitor and reflect key legislative and environmental changes in the Workers Compensation environment
- Develop and maintain performance monitoring reports that provide management insight into the health of the portfolios
- Provide pricing support on individual large accounts
- Leverage both internal and benchmark data to develop greater insight into the business
- Continuously review and refine Sompo’s pricing and underwriting tools to ensure they are current, accurate, and consistent
- Build and maintain dashboards of key actuarial metrics such as rate change, business mix, and loss trends
- Review work-product from junior members of the actuarial team
- Maintain awareness of the latest technological advancements and industry trends to improve existing processes and capabilities
- Participate in projects involving other products and group pricing initiatives, ensuring varied exposure and skill enhancement
Qualifications
- Actuarial experience in Workers Compensation
- Fellowship in the Casualty Actuarial Society (FCAS) or currently in process of obtaining FCAS designation
- In-depth knowledge of standard actuarial methods and best practices
- Comprehensive understanding of a commercial insurance company’s multifaceted operations
- Technical proficiencies in Microsoft Excel and preferably a programming language (Python, R, SQL, DAX)
- Ability to effectively analyze problems, develop innovative solutions, and independently manage multiple projects
Salary Range: $110,000 - $175,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront
based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
- Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution.
- Pharmacy benefits with mail order options
- Dental benefits including orthodontia benefits for adults and children
- Vision benefits
- Health Care & Dependent Care Flexible Spending Accounts
- Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
- Company-paid Disability benefits with very competitive salary continuation payments
- 401(k) Retirement Savings Plan with competitive employer contributions
- Competitive paid-time-off programs, including company-paid holidays
- Competitive Parental Leave Benefits & Adoption Assistance program
- Employee Assistance Program
- Tax-Free Commuter Benefit
- Tuition Reimbursement & Professional Qualification benefits
- Sompo International offers a competitive compensation and benefits package
Sompo is an equal opportunity employer committed to a diverse workforce. M/F/D/V
Job Type: Full-time
Pay: $110,000.00 - $175,000.00 per year
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Schedule:
- 8 hour shift
- Monday to Friday
Work Location: Hybrid remote in New York, NY 10020