Associate Actuary

Farmers Mutual of Nebraska is seeking an  Associate Actuary in our Actuarial Department - an exceptional individual who is intuitive, motivated, and skilled. We’re experiencing incredible growth and are on the search for individuals who would like to grow with us. With a competitive salary and excellent benefits package, expanding beyond health insurance and a generous 401K, we offer an employee wellness program, a hybrid work-from-home policy for eligible employees, pension plan, and so much more. Applicants must be currently authorized to work in the United States on a full-time basis. Please supply a cover letter and resume. Applications with cover letters will be given preferential review. 

Be a part of a rock-solid company with deep Midwest roots. If our core values resonate with you, we encourage you to apply to be a Farmers Mutual Associate Actuary today!

Core values include:  Integrity - Service - Excellence - Stability - Strength - Respect - Teamwork

General Function an Associate Actuary:

 The Associate Actuary will lead the reserving analysis for the company monthly as well as participate in developing and updating rate indications for all lines of business. This position will have visibility with senior leadership and work directly with the Director of Actuarial Pricing through the reserve setting process. Initial development of the reserve analysis has been established, but enhancements are needed with the help of an Associate Actuary!  This role will also play a large part in various other initiatives, including rate indications, ad hoc pricing analysis, financial reporting, rate change execution, etc. Persons employed in this position are responsible for, but not limited to, design, development, and application of methods and procedures to collect, analyze, and interpret statistical data relating to product pricing and design, and loss reserving analysis.

 Duties and Responsibilities of an Associate Actuary:

• Conduct rate indication analyses to assess rate adequacy across all lines of business, providing insights and recommendations based on findings.  
• Ensure data quality for analyses by validating input data, troubleshooting discrepancies, and identifying improvements.
• Develop and maintain actuarial datasets, recommend enhancements for data processes to improve accuracy and usability.
• Implementation of rate changes by calculating impact analysis, preparing proposals, developing IT requirements, and ensuring accurate deployment of rate changes.
• Collaborate with other business units to provide analytical support for ad hoc projects and initiatives, applying actuarial techniques to address emerging business questions and contribute to strategic decision-making.
• Develop and review loss reserve analysis to establish IBNR reserves and allocate for Financial Reporting purposes.
• Develop and improve upon existing actuarial tools, methods, and procedures.
• Support the development and training of peers in the actuarial department.
• Regular and timely attendance in the office is an essential function of the job.

Qualifications of an Associate Actuary: 

• Minimum of four years of experience within the actuarial field or related area is preferred.
• Four-year college degree with major in actuarial science, mathematics, statistics, or equivalent required.
• Associate (ACAS) of the Casualty Actuarial Society required.
• Experience with P&C pricing and reserving preferred.
• Proficient in Microsoft programs with advanced competency in Excel.
• Advanced programming skills, such as VBA, Python, R, SQL, etc.
• Able to extract and manipulate large datasets.
• Excellent oral and written communication skills, self-driven, and strong quantitative, analytical, and interpersonal skills. 

Farmers Mutual recognizes that an individual with a disability may require an accommodation to enable them to successfully perform a job function. Should you require such an accommodation, please indicate the job function and suggested accommodation during the interview process. Farmers Mutual will attempt to make reasonable accommodations.