Job Information
Zurich NA Actuary & Manager II in New York, New York
Actuary & Manager II
118327
What can go right when you can grow your career?
Now is the time to move forward and make a difference. At Zurich, we want you to share your unique perspectives, experiences and ideas so we can grow and drive sustainable change together. As part of a leading global organization, we have over 150 years of experience, serve more than 25 industries, and insure 90% of the Fortune 500®. Zurich strives to provide ongoing career development opportunities so you can reach your full potential and foster an environment where voices are diverse, behaviors are inclusive, actions drive equity, and our people feel a sense of belonging. With the support of people like you, we are optimistic about leading the next evolution of the insurance industry. Join us in building a brighter future for our people, our customers and the communities we serve.
A fantastic opportunity has arisen for a commercially focused life Actuary to join the Legacy Solutions business of Zurich (focussed on Stat reporting for the IDI block of business and providing management reporting to the CA), supporting regular reserving, investigations into portfolio performance and potentially deal preparation. You will also provide support and advice to the Chief Actuary, the CFO, and to the actuarial business partners across all aspects of the portfolio. The right person in this role can make a material difference to ZLS overall management and results. You will be working with and supported by a team in Bratislava on regular reporting tasks.
Zurich Legacy Solutions (ZLS) is a global business unit in Zurich managing insurance portfolios across multiple lines (life and non-life) and geographies. ZLS is a material part of the Global non-core segment of Zurich, and the actuarial team is a key part of the business, involved in internal acquisitions, ongoing portfolio management and deals/disposals.
Key Accountabilities:
Responsible for the planning and production of the valuation of actuarial reserves, financial reporting of embedded value and new business value, preparation of data for solvency and risk-based capital calculations to the required quality and timelines for management reporting and business decision-making purposes.
Coordinate, prepare, and perform actuarial analyses including demographic experience analysis, new business profitability analysis and forward looking projections of capital availability and solvency to the required quality and timelines for management reporting and business decision-making purposes; provide recommendations to management based on outcome of these analyses, where necessary.
Provide recommendations and technical expertise on actuarial and risk quantification modeling approaches and implement major / complex cash flow model developments to ensure quality of model output; identify and caveat limitations in proposed approaches to users of the output.
Support Finance, market-facing business units, Claims, Risk, Capital Management, Investment Management, Actuarial and other functions and actuarial business partners on reserving, reinsurance, solvency, risk and capital management and other operational and strategic business decisions by providing necessary data and analyses to required quality and timelines; propose recommendations based on analyses performed.
Ensure that the valuation processes for the assigned Business Unit(s) are appropriately governed and controlled in accordance with Group, Regional, and Local internal / regulatory policies; actively review the processes to ensure continual compliance, propose amendments and implement changes in response to developments to internal / regulatory policies.
Calculate premiums for new and/or existing products in line with agreed methodologies.
Work with various data sources / analyses to set the assumptions for new and existing products.
Review summary datasets.
Perform complex statistical analysis e.g. monitoring levels of business, business mix analyses, comparisons of actual to expected; propose actions based on results of analysis.
Research and analyze experience trends and expenses (biometric risks, persistency etc), drafting reports for senior management.
Provide support for development of rates, rating plans and pricing and portfolio management strategies.
Where appropriate, provide rate filing support.
Contribute to cross disciplinary teams involved in developing new propositions or enhancing existing ones.
Provide guidance to and review work of less experienced actuaries, including sign off of new/enhanced models.
Oversee/Supervise more junior team members.
Business Travel, as required
Extended Hours during Peak Periods, as required
Pass Applicable Actuarial Exams, as required
Regular Predictable Attendance
Basic Qualifications:
Bachelors Degree and 7 or more years of experience in the Actuarial areaOR
High School Diploma or Equivalent and 9 or more years of experience in the Actuarial areaOR
Zurich Certified Insurance Apprentice including an Associate Degree and 7 or more years of experience in the Actuarial areaAND
FSA certification or equivalent life insurance actuarial certification from a non-US organization
People management experience
Preferred Qualifications:
• FSA qualified
• MAAA or able to achieve quickly
• 8 or more years of experience in the Life Actuarial area
• Experience in IDI multiple functional areas (pricing, reserving, capital management) and knowledge/skills reflective of a senior practitioner
• Strong verbal and written communication skills
Compensation for roles at Zurich varies depending on a wide array of factors including but not limited to the specific office location, role, skill set, and level of experience. As required by local law, Zurich provides in good faith a reasonable range of compensation for roles. For additional information about our Total Rewards, Clickhere (https://www.zurichna.com/careers/benefits) . Other rewards may include short term incentive bonuses and merit increases. Candidates with salary expectations outside of the range are encouraged to apply, and will be considered based on experience, skill, and education. The salary provided is a nationwide market range and has not been adjusted for the applicable geographic differential associated with the location where the position may be filled. The starting salary range for this position is$146,500.00 - $239,800.00.
As an insurance company, Zurich is subject to 18 U.S. Code § 1033.
As a condition of employment at Zurich, employees must adhere to any COVID-related health and safety protocols in place at that time ( https://www.zurichna.com/careers/faq ).
A future with Zurich. What can go right when you apply at Zurich?
Now is the time to move forward and make a difference. At Zurich, we want you to share your unique perspectives, experiences and ideas so we can grow and drive sustainable change together. As part of a leading global organization, Zurich North America has over 150 years of experience managing risk and supporting resilience. Today, Zurich North America is a leading provider of commercial property-casualty insurance solutions and a wide range of risk management products and services for businesses and individuals. We serve more than 25 industries, from agriculture to technology, and we insure 90% of the Fortune 500®. Our growth strategy is not limited to our business. As an employer, we strive to provide ongoing career development opportunities, and we foster an environment where voices are diverse, behaviors are inclusive, actions drive equity, and our people feel a sense of belonging. Be a part of the next evolution of the insurance industry. Join us in building a brighter future for our colleagues, our customers and the communities we serve. Zurich maintains a comprehensive employee benefits package for employees as well as eligible dependents and competitive compensation. Please click here (https://www.zurichna.com/careers) to learn more.
As a global company, Zurich recognizes the diversity of our workforce as an asset. We recruit talented people from a variety of backgrounds with unique perspectives that are truly welcome here. Taken together, diversity and inclusion bring us closer to our common goal: exceeding our customers’ expectations. Zurich does not discriminate on the basis of age, race, ethnicity, color, religion, sex, sexual orientation, gender expression, national origin, disability, protected veteran status or any other legally protected status. EOE disability/vet
Zurich does not accept unsolicited resumes from search firms or employment agencies. Any unsolicited resume will become the property of Zurich American Insurance. If you are a preferred vendor, please use our Recruiting Agency Portal for resume submission.
Location(s): AM - New York
Remote Working: Hybrid
Schedule: Full Time Employment Sponsorship Offered: No