Associate Actuary Reserving (FULLY REMOTE OR MA BASED)

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.

Our Corporate Actuarial department is seeking an Actuarial Consultant or Associate Actuary to join our growing team in Worcester, MA Corporate Headquarters or remote work arrangement.

Position summary:

This role within the Corporate Actuarial department will be responsible for helping to ensure the strength of Hanover’s balance sheet and providing management with critical insights through the Reserving analysis process. Various forms of analysis include a formal quarterly review of the loss and DCCE reserves by accident and/or report year, appropriate business unit segmentation of carried reserves, an annual ULAE reserve review, a forecast of the ex-cat loss and ALAE ratios for the corporate financial plan, and various “deep dives.” An effective candidate will also be able to suggest ways to improve our current processes by identifying enhancements and efficiencies.

Effective communication skills are critical, as a high level of collaboration with the Business (Underwriting & Pricing), as well as Claims, Accounting, Finance is expected. Additionally, this role provides a high degree of exposure to executive leaders. The person who takes on this role would also be able to provide guidance to other members of the team and be an active member of the Actuarial and Analytics community.

This is a Full-time, Exempt role.

IN THIS ROLE, YOU WILL:

• Monitor reserve adequacy and communicating of trends to executive leadership

• Take ownership of reserving lines of business for a business unit that carries $500M in total reserves

• Be accountable for deadlines associated with the financial quarterly close

• Be responsible for exploring ways to continually improve processes and enhance efficiencies

• Perform analysis that requires knowledge of advanced actuarial concepts/methods and/or advanced analytic approaches

• Partner with the Business (Underwriting & Pricing), as well as Claims, Finance and Accounting across the organization to build credibility of the actuarial department and make appropriate decisions

• May lead or participate in community recruiting and/or training activities

• Have the opportunity to manage a Jr. level analyst after successful acclimation to role if desired

WHAT YOU NEED TO APPLY:

• Bachelor’s Degree or higher in a relevant technical field
• Five+ years of technical experience in multiple LOB and/or actuarial disciplines such as pricing, reserving or advanced analytics.
• ACAS preferred but not required
• Advanced communication skills
• Advanced skills using Microsoft Office, including Excel and PowerPoint
• Intermediate programming skills, including the ability to develop and automate processes
• Project organization and time management skills in order to balance conflicting priorities
• The ability to communicate technical concepts to non-technical audiences
• Able to apply and interpret company policies and procedures
• Able to direct activities of others, motivate and develop staff
• Growth Mindset – Embraces a creative approach and a changing environment. Seeks to improve processes, constantly seek to learn, apply new techniques, challenge others and themselves to find a better way
• Relationship Building - Understands the importance of developing and maintaining cooperative relationships with others at all levels of the organization by making others feel their concerns and contributions are important. Builds positive relationships with others to accomplish organizational goals.
• Influencing Others - Communicates ideas or positions in a persuasive manner that build support, agreement, or commitment. Takes actions that directly or indirectly influence others to create buy-in, gain trust, and motivate actions in others or win concessions without damaging relationships.
• Results Orientation - Excited by challenging goals and a desire to exceed standards of excellence. Exceeding the standard can include challenging personal goals, organization's standards, or current industry standards. Exhibits a true sense of competitiveness and a drive for results. Has a strong desire to win in the most challenging of circumstances and the fortitude to take calculated risks to achieve personal objectives and goals, organization's standards, or current industry standards.
• Business Enterprise Knowledge - Understands how one's own function adds value to the organization and to customers. Makes decisions and recommendations clearly linked to the organization's strategy and financial goals, reflecting an awareness of external dynamics. Demonstrates awareness by providing clear explanations for actions taken relative to customer requirements, needs, and industry trends.
• Decisiveness - Makes decisions by quickly assessing the scope of an issue and providing options leading to its closure. Determines appropriate options based on the situation.

CAREER DEVELOPMENT:

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include:

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits

EEO statement:

The Hanover values diversity in the workplace and among our customers.  The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.  

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.” 

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities.  Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: HRServices@https://hanover.com and include the link of the job posting in which you are interested.

Privacy Policy:

To view our privacy policy and online privacy statement, click here.  

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