Assistant Actuary | Remote

AZRA is a specialty niche reinsurer, domiciled in California and licensed as an admitted insurer in 36 states (including District of Columbia), and is a qualified, accredited, or approved reinsurer in fifteen states. AZRA is a property casualty reinsurer which writes both prospective and legacy reinsurance. AZRA has specific expertise in run-off management of U.S. legacy insurance liabilities. It services Allianz Group affiliates and third parties including third party claims administration of asbestos, environmental, workers compensation, general liability, and construction defect liabilities.

AZRA has approximately 150 employees located nationwide with the majority working on a remote basis.

Using actuarial experience, knowledge of external market forces, and awareness of industry trends, assist management with the development of business strategies and with solving complex business problems. Under minimal direction, the Assistant Actuary is responsible for formulating analysis plans and leading actuarial analyses for the company’s lines of business, which include asbestos & environmental, commercial general liability, workers’ compensation, construction defect and prospective assumed reinsurance portfolios. The Assistant Actuary provides support for reporting financial information under US Stat, SII and IFRS 17 regimes. May provide training and technical supervision and/or guidance to junior analysts.

What you do:

Reserving & Controls:  Review, analyze and make appropriate recommendations relating to reserve adequacy and other aspects of company reserving practices.  Develop reserve indicators to monitor changes in claims handling practices.  Implement appropriate and timely controls, methods, and procedures to respond to changes in the operating environment.

Reporting:  Prepare financial reports and analysis, actuarial memos, and responses in support of reserve analyses, requests from external auditors, state regulators and rating agencies and parent company requirements.  Interpret results and advise business partners based on the outcomes of financial analyses.  Communicate results to department and company leadership, as well as other stakeholders as required.

Closing:  Participate in quarterly close process for both US Statutory, Solvency II and IFRS 17.

What you bring:

• 6-7 years of experience required:  Actuarial reserving for relevant/similar lines of business.  Demonstrated ability to effectively work across functions and effectively communicate complex subject matter in an understandable manner to various business partners, leaders, and stakeholders.
• Knowledge of US Statutory, SII and IFRS 17 accounting standards and the actuaries’ contribution to each.
• Four-year degree required:  Bachelor’s degree in Actuarial Sciences, Mathematics, Statistics or relevant field.
• ACAS required:  FCAS strongly preferred.

Job may require periods of stooping, bending, sitting, or standing.  Limited domestic and/or international travel may occur.

Base Salary Range $125,000 - $165,000

Actual base salary may vary based upon factors such as relevant experience, qualifications, internal equity of peers, and geographic location. In addition to base salary, this position is eligible for an annual incentive program. 

57770 | Actuarial | Professional | Non-Executive | Allianz Reinsurance | Full-Time | Permanent

What we offer:

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in. We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation.

Join us.  We care for tomorrow.