Sr. Actuary

Let’s care for tomorrow.

Your ambitions.  Your dreams.  Your tomorrow.

At Allianz Commercial (AzC), we are the global leader for insuring corporate and specialty risks in the Allianz Group.  Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, AzC has the major risks covered when it comes to protecting businesses.

 

We are looking for a Senior Actuary (m/f/d), based in Chicago.

 

Your Team

Allianz Commercial (AzC) employs the brightest, most passionate people in the insurance industry. We’d love for you to join our growing team! We invest in our people through training and professional development while supporting you along the way—all so you can meet your career goals. To us, the most important measure of our success is yours.  The CFO actuarial reserving team is a key unit in the broader CFO function and strategic contributor to the long-term success of AzC.  We are an experienced, diverse and hardworking team and we look forward to welcoming you onboard.

 

The Impact You Will Have

Reporting to the Regional CFO Actuarial function, you will join the team as an experienced professional, ensuring robust reserves are held by doing both independent actuarial analysis and actively collaborating with various stakeholders.  You will derive forward looking loss ratio views to inform business steering and quarterly closing.  You will be comfortable and confident working with colleagues around the globe and presenting up to C-Suite level.  Regular stakeholders will include:  underwriting, claims and pricing teams – working together to understand trends, business mix movement and market development and ESG topics.

 

As a Senior Actuary, you will ensure that best in class actuarial methods and techniques are adopted and implemented.  Using your experience, you will address new and previously unknown challenges such as inflation impact on reserves.

 

Some of your specific responsibilities could include:

• Ensure that adequate loss reserves are estimated for your line(s) of business on IFRS 17 basis.
• Support the Actuarial Function team in derivation of a normalized loss ratio, and where relevant validate selected and booked NLR via annual reserve reviews.
• Support the reserving team in monthly closings and contribute to the presentation for the Loss Reserve Committee.
• Drive innovation and efficiency in all our processes, particularly to improve the quality in forecasts, achieving a high predictability.
• Peer review work from other team members and provide training and guidance to junior colleagues.                                                                                                                                         

What You’ll Bring to the Role

• Bachelor’s or Master’s Degree in Actuarial Science, Mathematics, Statistics, or a related discipline, or equivalent experience in a relevant field
• Minimum 7 years business experience in the P&C industry, preferably spanning multiple actuarial areas with a focus in Reserving
• FCAS or near-FCAS
• Job specific knowledge with regard to Financial Lines and/or Liability market dynamics, standard concepts and approaches, regulations/compliance standards, reporting requirements (e.g., reinsurance and underwriting knowledge, reserving techniques, data flows, etc.)
• Finance and Insurance know-how (ideally P&C) as well as a healthy curiosity to understand complexities inherent in an insurance group (consolidation processes, legal vs management view) allowing for cross-departmental thinking and acting
• Ability to identify patterns and root causes in complex (e.g. ambiguous, from various sources) data and processes to rapidly distil key issues and provide insight in various situations
• Basic balance sheet understanding on IFRS 4 and IFRS 17 bases, and experience of closing and reporting related topics
• High level of analytical ability, capable of clearly communicating results and findings in a clear and concise manner
• Excellent communication skills and stakeholder management skills, ideally within a global environment.
• Proficiency in Reserving Software (e.g., ResQ, Arius) and statistical/programming tools (e.g., R, Alteryx, Tableau, Python) is a plus

 

The annualized base pay range for this role is $113663 - $194783. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and 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. The base pay is just one component of the AzC total compensation package.  As part of our comprehensive compensation and hi