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Lockton Companies

Reinsurance Actuarial Associate (FT Starting in Summer 2...

Entry-Level JobVerifiedNo experience needed

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What they do

An Actuary calculates the financial costs of risk and uncertainty. Uses findings from statistical analysis and mathematical modeling to help businesses and clients minimize the cost of risk and develop business and investment strategies. Uses actuarial analysis of the probability and cost of natural disasters or accidents to develop insurance policies.

$112,812 / year median in Minnesota

-5% projected decline

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Job Description

Working at Lockton At Lockton, we're passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented and always striving to make ourselves and those around us better. We're active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here. Business unit Lockton RE Salary $65,000-$85,000 Schedule Full-time Lockton Benefits Offerings Click Here Workplace In Office Responsibility Icon Your Responsibilities This position will help with the ongoing build out of the US actuarial capabilities of Lockton Re, which uses the latest technologies to develop best-in-class (re)insurance analytics. The Associate will perform analyses to support the reinsurance structuring and placement process. In addition, they will complete advanced analyses to help insurers understand their risk, manage volatility, and grow profitability. The Associate will also participate in the development of actuarial tools, organization of data sources, and creation of the actuarial analysis processes and procedures. Reinsurance Actuarial Associate Responsibilities Perform experience and exposure analyses for all lines of insurance Build stochastic underwriting models to analyze reinsurance structures Prepare and deliver client-ready presentations to communicate analysis results to brokers and clients Work closely with senior actuaries, cat modelers, and brokers to provide strategic advice to clients Contribute to the development of actuarial tools and processes Perform market analysis and research for the industry and company peer groups Qualification Icon Qualifications 0-2 years of experience (2+ years in a Property & Casualty actuarial role, reinsurance and/or consulting experience preferred) Minimum of 2 actuarial exams completed Expert in Microsoft Excel and other Microsoft Office products Experience with programming languages, preferably R or Python Stochastic modeling / dynamic financial analysis experience a plus Excellent interpersonal and communication skills (oral and written) Ability to work independently and in team environment Ability to work outside of normal business hours as needed Equal Opportunity Statement Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity. At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences. As such, we recognize that recruiting, developing and retaining people with diverse backgrounds and experiences is vital and enabling our people to thrive personally and professionally is critical to our long-term success. About Lockton Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 13,100+ Associates doing business in over 155 countries are empowered to do what's right every day. At Lockton, we believe in the power of all people. You belong at Lockton. How We Will Support You At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it. We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing. Learn more about your Lockton experience No Agencies Please Any Employment Agency, person or entity that submits an unsolicited resume to this site does so with the understanding that the applicant's resume will become the property of Lockton Companies, Inc. Lockton Companies will have the right to hire that applicant at its discretion and without any fee owed to the submitting Employment Agency, person or entity. Employment Agencies, who have fee Agreements with Lockton Companies must submit applicants to the designated Lockton Companies Employment Coordinator to be eligible for placement fees.