Associate Actuary, Capital Modeling

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

📋 Description

• Assist in the upkeep, governance, and continuous improvement of Hanover's Economic Capital Model (ECM)

• Evaluate model assumptions, methodologies, and outputs, offering recommendations to enhance the ECM's effectiveness, precision, and business value

• Execute enterprise risk quantification, stochastic modeling, and capital adequacy assessments across underwriting, reserving, catastrophe, market, credit, and operational risks

• Perform stress testing and scenario analyses to evaluate the effects of emerging risks and shifting business conditions on capital requirements

• Assess key factors influencing economic capital consumption, profitability, and risk-adjusted performance across various business segments

• Aid in the development and upkeep of capital allocation and performance measurement frameworks for strategic decision-making

• Evaluate the effects of reinsurance structures, capital management initiatives, and business opportunities on risk, return, and capital efficiency

• Examine the capital implications of strategic initiatives and management actions, delivering data-driven insights and recommendations

• Collaborate with Finance, Enterprise Risk Management, Investments, Treasury, Pricing, Reserving, and business leaders to share results and support enterprise decision-making

• Contribute to continual model enhancements, process improvements, and the advancement of Hanover's capital management capabilities

⛳️ Requirements

• Bachelor’s degree in a relevant technical or quantitative discipline

• Over five years of experience in actuarial science, capital modeling, enterprise risk management, predictive analytics, pricing, reserving, or similar analytical roles

• ACAS designation or equivalent experience preferred

• Strong grasp of actuarial modeling techniques, enterprise risk management concepts, and capital management principles

• Experience in interpreting complex analytical results and converting them into business recommendations

• Advanced proficiency in Microsoft Office, particularly Excel and PowerPoint

• Programming and analytical experience with Python, R, SQL, and other actuarial or data analytics tools, with a proven ability to automate processes, create analytical solutions, and enhance operational efficiency

• Demonstrated ability to manage multiple priorities and produce high-quality work within set deadlines

• Capability to influence decisions and collaborate effectively across different functions and organizational levels

🏝️ Benefits

• Competitive salary and performance-based incentives

• Comprehensive health and wellness benefits

• Opportunities for professional development and continuing education

• Flexible work arrangements and supportive work environment