Sompo Holdings, Inc.
Senior Reserving Actuary
Sompo Holdings, Inc., Garden City, NY
As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.
Job Description
Are you looking for your next opportunity?
Sompo has a unique opportunity for a Senior Reserving Actuary in our Global Reinsurance Reserving team.
The Senior Reserving Actuary will report to the Head of Reserving - Reinsurance. The role will be part of a dedicated reinsurance reserving team based in New York and Zurich and will also benefit from access to shared resources from across the reserving function.
Location: This position will be based out of our New York, NY office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our business, your impact, our opportunity:
What you'll be doing:
What you'll bring:
Salary Range: $140,000 - $210,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
In today's world, what do we stand for?
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.
Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone's unique contributions - we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
Job Description
Are you looking for your next opportunity?
Sompo has a unique opportunity for a Senior Reserving Actuary in our Global Reinsurance Reserving team.
The Senior Reserving Actuary will report to the Head of Reserving - Reinsurance. The role will be part of a dedicated reinsurance reserving team based in New York and Zurich and will also benefit from access to shared resources from across the reserving function.
Location: This position will be based out of our New York, NY office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our business, your impact, our opportunity:
What you'll be doing:
- Oversee the quarterly actuarial central estimate (ACE) reserving process for the North America entities within the Reinsurance Segment with a particular focus on the Casualty lines of business.
- Liaise with underwriting, claims and pricing actuaries to ensure that reserve analysis reflects all relevant and applicable information.
- Present results of reserve analysis to underwriting, pricing, and claims teams and utilize these meetings as a platform to gain more information on the various business units.
- Lead projects to refine key assumptions utilized in the calculation of the IBNR reserves.
- Build relationships with senior management within the Reinsurance operations with the goal of becoming a trusted advisor.
- Work closely with Head of Reserving to improve the quarterly reserving process.
- Assist Head of Reserving in preparing loss reserve committee and board meeting materials and presenting materials to executive management where requested.
- Leverage the ACE analysis to provide support in the annual planning process, as required. Provide data and information to third party actuaries and auditors and work with team to respond to questions related to the information provided.
- Assist and/or take over other projects from Head of Reserving as needed.
What you'll bring:
- ACAS or FCAS designation. FCAS is preferred.
- Casualty lines experience is required. Experience within reinsurance is preferred.
- Excellent interpersonal, written and oral communications skills, including a proven ability to build relationships with senior management and underwriting teams and to communicate to senior management and board level audience.
- Well-organised, flexible with the ability to thrive in a fast-paced environment and consistently meet deadlines without compromising quality.
- Strong IT skills are required, including proficiency with the usual MS Office Products and some programming experience would be beneficial.
- Familiarity with ResQ would be highly beneficial.
- Managerial experience is preferred.
Salary Range: $140,000 - $210,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
- Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
- Pharmacy benefits with mail order options
- Dental benefits including orthodontia benefits for adults and children
- Vision benefits
- Health Care & Dependent Care Flexible Spending Accounts
- Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
- Company-paid Disability benefits with very competitive salary continuation payments
- 401(k) Retirement Savings Plan with competitive employer contributions
- Competitive paid-time-off programs, including company-paid holidays
- Competitive Parental Leave Benefits & Adoption Assistance program
- Employee Assistance Program
- Tax-Free Commuter Benefit
- Tuition Reimbursement & Professional Qualification benefits
In today's world, what do we stand for?
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.
Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone's unique contributions - we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.