- Headquarters - Alexandria, VA
- Full Time
880 S. Pickett Street
Alexandria, VA 22304
BoatU.S. seeks a highly-motivated individual committed to an actuarial career to join us as an Actuarial Associate. This position will start you on a career track that is well suited for mathematics, economics and actuarial science majors, or those majoring in a related field emphasizing strong quantitative and analytical skills.
Actuaries analyze data to make decisions that allow the company to properly manage its risk. On a typical day, this may include extracting and analyzing premium and loss data, using computer and statistical programs, evaluating results for reasonability and communicating observations to various teams to help achieve bottom-line goals.
Our actuaries do more than crunch numbers -- they tackle a variety of problems such as creating business strategies, developing and enhancing products, presenting proposals to management and forecasting and assessing industry trends. Actuaries are key members of our management team, as a wide range of important decisions are based on their projections and professional opinions.
Job duties and responsibilities include, but are not limited to:
• Designing and/or initiating analyses, compiling data and computing statistics for use in statistical rating studies. Compilations may require downloading and manipulating data from mainframe, vendor, and company developed software application databases.
• Applying advanced levels of knowledge of mathematics, statistics, principles of finance and business to property and casualty insurance problems.
• Developing methods of tracking rate history experience, statistical information, etc. from company data and other industry sources to study rate level indications in states and nationwide as initiated by the individual or management.
• Initiating analyses and proposing changes in rate levels and rating structures based on statistical analyses, company experience, competition, market conditions, legal climate and underwriting practices to management and underwriting.
• Revising company rate manual pages according to decisions of management and underwriting.
• Recommending appropriate cost components for use in statistical studies such as loss development factors, trend factors, increased limit factors, expense loads, etc.
• Compiling exhibits, explanations, justifications and statistical analysis for the submission of company rate filings, state filing forms and manual pages to Insurance Departments.
• Assisting in answering inquiries from Insurance Departments regarding submission, such as actuarial justification of filed rates, etc.
• Researching, interpreting, and communicating state law requirements affecting coverages. Submitting issues to manager and/or actuarial or regulatory personnel for review.
An important part of an actuary's professional development involves advancing through a series of exams offered by the Casualty Actuarial Society. At BoatU.S., we provide you with up to 115 paid study hours per exam along with opportunities to take review courses, financial support for CAS exams and VEE courses, onsite quiet rooms for studying and an exam coordinator to assist with exam processes. As you pass your exams, you may be eligible for raises and first-time passing bonuses!
• Bachelor's degree in mathematics, economics, actuarial science, statistics or related field preferred;
• 3.0 overall GPA;
• Very good quantitative, analytical and problem-solving skills;
• Effective written and verbal communication skills;
• Strong Word and Excel skills;
• Some computer programming knowledge useful (such as Access, SAS, SQL or other programming language);
• Commitment to take and pass actuarial exams, with preference given to candidates who have passed at least one exam.
BoatU.S., part of GEICO and the Berkshire Hathaway family of companies, offers a range of insurance products and services to recreational boaters nationwide through GEICO Marine Insurance Company and Boat Owners Association of The United States (BoatU.S.) For more information visit us at www.Geicomarine.com or www.BoatUS.com.
Our employees quality of life is important to us. Full-time BoatU.S. employees are offered a comprehensive benefits program*, including:
• 401(k) plan
• Medical, dental, vision and life insurance
• Paid vacation, holidays and leave programs
• Tuition reimbursement
• Employee assistance programs
• Flexible spending accounts
• Business casual dress
*Benefit offerings for positions other than full-time may vary.
BoatU.S. is an Equal Opportunity Employer. Background, criminal history and hair drug testing are required as part of our pre-employment process.
How to Apply
You will need an active email address and phone number. Email HRKari@boatus.com your resume, cover letter and salary requirements, preferable as Word.doc files or PDF.