DescriptionFounded in 1979, PRISM is an award-winning public entity regarded as the largest Joint Powers Authority (JPA) of its kind in the United States. PRISM members include counties, cities, school districts, park districts, fire districts and other public organizations. We strive to provide our member organizations with the best value insurance platforms and risk management services in an effective and efficient manner.PRISM operates various risk-sharing pools, which provide insurance (both primary and excess) and risk management services to its members for lines of business including workers' compensation, general liability, property, medical malpractice, and employee benefits.PRISM also has a Utah domiciled affiliated captive insurance company (PRISM ARC).PRISM insures over 2,100 California public entities comprised of 95% of California Counties, over 70% of Cities, more than 10% of Educational organizations, Special Districts, Housing and Fire districts, and 27 JPAs.In total, PRISM writes over $1.3B in gross P&C premiums, carries $890M in outstanding claims liabilities, and has a net position of $263M.One of PRISM's greatest assets is its staff. PRISM employees are smart, creative, hard-working, and passionate individuals working in areas ranging from member services, risk control, claims administration, information technology, accounting, and risk pool administration. Working here requires energy, commitment, and teamwork. At the same time, we offer a great work environment built upon our Core Values of People, Families, Trust, Integrity, and Growth. We are looking for an individual who shares these values to join the PRISM team.PRISM's Actuarial Department is seeking an Actuarial Specialist. This position will be filled at the Specialist or Sr. Specialist level depending on the selected candidate's experience. The Actuarial Specialist is responsible for providing technical and administrative support to the Actuarial Department.JOB RESPONSIBILITIES
- Deploy actuarial skills to support PRISM and PRISM ARC's program coverages in workers compensation, general liability, medical malpractice, commercial auto and commercial property, through a diverse range of actuarial tasks such as estimation of unpaid claims liability, prospective loss costs, target funding, and predictive modeling. Responsibilities include but are not limited to:
- Contribute to the pricing and reserving process, including data validation, analysis and selections
- Contribute to the development and maintenance of actuarial models and methods
- Contribute to the various detailed data analyses and build analytical tools for loss development, underwriting and claim trends, rate changes, mix of business changes and other necessary data adjustments
- Assist in providing support in the preparation and presentation of actuarial results
- Contribute to the analyzing and research & development of rating variables and rating methodology changes, stay updated with industry trends and best practices in pricing and reserving methodologies, and implement improvements to enhance accuracy and efficiency.
- Close collaboration with other internal stakeholders, including Data & Analytics, Underwriting, Finance, responsibilities include but are not limited to:
- Assist in collaboration on data strategy
- Assist in collaboration on quoting and pricing strategy process
- Assist in developing primary prospect quotes for the DBD and PWC programs
- Assist in updating the premium allocation models with rates, losses, and exposures, as well as assist in implementing structural modifications when needed
- Collaborate as needed to support various projects
- Assist in working with reinsurance brokers with data and actuarial analysis to support reinsurance renewals
- Performs other duties as assigned
RequirementsThe ideal candidate will have:
- BA/BS in actuarial science, statistics, or a quantitative discipline
- 1+ years of experience in actuarial roles/internship, or completion of a minimum of two CAS examinations
- Technical proficiency in MS Office (primarily Excel) and SQL.
- Basic knowledge of statistical modeling. Python or R coding experience preferred.
- Integral part of the actuarial community, and promulgate best practices
- Ability to communicate with cross-functional partners and will be a strong team player with strong interpersonal skills
- Motivation, proactivity and eagerness to learn and grow in the actuarial field.
Licensing RequirementsA valid California Driver's license is required. Proof of auto insurance with no business exclusion is required. Physical RequirementsPhysical requirements of this position typically include: sitting for long periods of time, reaching, grasping, kneeling, talking, hearing, seeing, repetitive motions, exerting up to 20 pounds of force occasionally and/or up to 10 pounds of force frequently, and/or negligible amount of force constantly to move. Travel may be required.