Actuarial Forecasting Lead – 12-15 years experience

This is a fully remote position, open to applicants in New Jersey.

📋 Description

• Evaluate current actuarial forecasting models, methodologies, and assumptions utilized for projecting warranty claims, device failures, and replacement demand.

• Analyze historical claims data, failure rates, product behavior, repair patterns, and replacement trends that influence future claims volumes.

• Assess the reliability of actuarial forecasts and identify deficiencies in modeling techniques, data quality, and underlying assumptions.

• Recommend and evaluate statistical, actuarial, and predictive modeling techniques to enhance forecast precision.

• Collaborate with actuarial, supply chain, data science, and engineering teams to refine forecasting models and ensure outputs align with supply chain planning requirements.

• Validate forecast outcomes through actual-versus-expected analysis, back-testing, and scenario evaluations.

• Facilitate functional discussions, model validation, and business acceptance of the forecasting solution.

• Collaborate closely with actuarial, finance, and technology teams to enhance claims projections, loss estimates, and actuarial modeling capabilities.

⛳️ Requirements

• 12–15 years of experience in actuarial forecasting or a similar actuarial position.

• Extensive experience in actuarial modeling, claims frequency and severity analysis, loss ratio projections, and claims cost estimation.

• Familiarity with extended warranty, device protection, service contracts, or specialty insurance products.

• Experience in claims reserving, loss development analysis, and ultimate loss projections.

• Practical experience in constructing and assessing actuarial models using historical claims data, exposure information, product mix, and cost assumptions.

• Understanding of repair and replacement costs, claim incidence rates, product failure patterns, and their implications on loss projections.

• Proficiency with actuarial and analytical tools.

• Exposure to statistical modeling and AI/ML techniques applied to claims and loss estimation.

• Experience collaborating with actuarial, claims, underwriting, and finance teams.

• Bachelor's or Master's degree in Actuarial Science, Statistics, Mathematics, or a related quantitative field.

• Practical experience in actuarial modeling, claims forecasting, and applying actuarial projections in business planning is essential.

• Professional actuarial qualifications or progress towards actuarial certification are beneficial but not mandatory.

🏝️ Benefits

• Opportunity for remote work.

• Contract-to-hire (C2H) arrangement.

• Confidential management of applicant information in accordance with EEO guidelines.