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Accident & Health Senior Actuarial Specialist I

For more than 125 years, the Chubb Group of Insurance Companies has been delivering exceptional property and casualty insurance products and services to businesses and individuals around the world.

Today, we are the 11th largest property and casualty insurer in the United States and have a worldwide network of some 120 offices in 27 countries staffed by 10,400 employees. The Chubb Corporation reported $48 billion in assets and $13.2 billion in revenues in 2008. According to Fortune magazine, Chubb is the 203rd largest U.S.-based corporation. The magazine also includes Chubb in its list of “America’s Most Admired Companies.” Forbes listed Chubb as one of America’s 400 Best Big Companies.

The Chubb Personal Insurance (CPI) segment offers products for individuals with large homes and valuable possessions.
Check out our references!
We insure 258 of the top 500 CEO’s (52%) in the U.S. as rated in Forbes.com by compensation.*
We insure more than 60% of the Forbes 400 wealthiest people in the U.S.**
We insure 60% of the U.S. collectors listed in ArtNews’ Top 200 World Collectors.***
We insure approximately 1,500 homes in the U.S. with values over $5,000,000.**

Currently, Chubb is seeking an A&H Senior Actuarial Specialist I for the Whitehouse Station, NJ office.

Position Responsibilities:
• Engage in product development activities by providing pricing support and developing premium rates for US business.
• Provide all necessary actuarial memoranda, technical notes, and rating manuals as needed.
• Respond to US regulatory questions and criticisms as they arise.
• Participate with the US product development team to review and assess plan design and contractual provisions.
• Provide timely and accurate analysis of US book of business performance. Liaise and work with underwriting and other business colleagues to identify areas of opportunity or highlight areas of concern.
• Provide periodic rate and reserve adequacy assessments by line of business/country and other loss and expense experience studies.
• Communicate and present analysis.
• Periodically assess the quality, accuracy, and completeness of actuarial/financial/statistical data populated and work with underwriting, IT, and the field staff to address and resolve anomalies.
• Provide aggregate risk management support by analyzing and presenting risk concentrations and identify areas where there is adverse over-exposure.
• Periodically assess the quality, accuracy, and completeness of risk management information and work with underwriting, IT, and the field staff to address and resolve anomalies.
• Develop Probable Maximum Loss (PMLs) and other Loss Severity metrics using and refining existing in-house or external air and ground risk models.
• Provide financial modeling support by developing new business models and/or enhancing existing models that enable us to better manage our book of business.

Knowledge & Skills:
• Candidate has demonstrated advanced actuarial knowledge in Group Life, Accident, and Health insurance and products. Candidate should also have moderate underwriting knowledge.
• Candidate has an advanced knowledge of accounting, financial management, and business concepts.
• Candidate must demonstrate a proven track record being a visible and highly regarded business professional.
• Demonstrated written and verbal communication skills, teamwork, and organizational skills
• Strong project and time management skills. Demonstrated ability to multi-task as needed. Drive to complete and resolve issues.
• Able to work both independently and be a strong pro-active collaborator.
• Proficient in MS Excel, Word, and Access (FOCUS, SAS, or other database skills is highly desirable)
• Clearly present rating methodology, document data and statistical sources for technical notes, actuarial memoranda, and rating manuals
• Demonstrates excellent problem solving skills
• Exhibits strong intellectual capacity and curiosity
• Effective use of technology
• Demonstrates, applies, and implements sound actuarial, financial, and business techniques.
• Actively analyze and evaluate business processes and procedures. Anticipates and is informed about changes in the business and professional environment, able to be quickly responsive and implement necessary changes as required by regulation or for the best interests of the organization (e.g. provides cost savings or operational efficiency).
• Adheres to Chubb’s financial values and exhibits profit orientation
• Demonstrates customer-driven communication
• Exhibits empathy; responsive to feedback
• Influential and success in making a business impact.
• Educates, mentors, and assesses performance of direct reports and business partners.
• Organizational networking
• Common vs. personal agenda
• Efficient and organized work habits
• Strong work ethic and high standards
• Will to win/results oriented
• Able to work effectively either as a team leader or participant. Able to co-ordinate cross functional resources.
• Values and promotes diversity
• Apply innovative thinking
• Anticipate future technology

Education and Experience

• Bachelor’s degree in Mathematics, Business or related field.
• Candidate has a minimum FSA or equivalent actuarial designation.
• Candidate has at least five years of insurance knowledge and experience with Group Pricing, Product Development, and Reserving techniques.

Chubb prides itself on the ability to provide all employees with an extraordinary work environment which promotes teamwork, diversity and incentives for those who exceed expectations. Chubb has been recognized as one of the top 50 companies for diversity by DiversityInc magazine, one of America’s most admired companies by Forbes, and one of the top 100 companies to work for by Fortune.

Chubb’s compensation and benefit plans work together to create a Total Rewards Program for our employees that is among the best in our industry. As a global organization, we work hard to achieve our goal of providing flexible and competitive compensation and benefits packages in each local market in which we operate. Our goal is to exceed average market practices for our performers. For more information about Chubb and our benefits, visit our website at www.chubb.com.

All interested applicants must apply online at www.chubb.apply2jobs.com Reference Requisition number 8354.

http://www.chubb.apply2jobs.com/index.cfm?fuseaction=mExternal.showJob&RID=8354&CurrentPage=2

Chubb & Son, Inc., a division of Federal Insurance Company, does not accept resumes from unsolicited third party agencies or recruiters. No fees will be paid to third parties who submit unsolicited candidates in this manner.