Actuarial Analyst III

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🏖️ New Jersey – Remote

🏖️ New Jersey – Remote

💵 $102.6k - $140.1k / year

⏰ Full Time

🟡 Mid-level

🟠 Senior

📊 Actuary

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NJM Insurance Group

WebsiteLinkedInAll Job Openings

1001 - 5000 employees

Founded 1913

Insurance

NJM Insurance Group is a well-established insurance provider offering a range of personal and commercial insurance products. Their services include auto, homeowners, renters, condo, commercial auto, and business insurance, with a focus on exceptional customer satisfaction and claims experience. NJM is recognized for its outstanding auto claims experience by J. D. Power and is committed to serving customers in states like Connecticut, Maryland, New Jersey, Ohio, and Pennsylvania. The company prides itself on being straightforward and customer-focused, without jingles or mascots, offering trusted insurance solutions and multiple discount opportunities for various policies.

📋 Description

• Assist in the development and maintenance of premium rates for the Individual and Small Group markets. • Support the preparation, validation, and submission of premium rate filings to state and federal regulatory agencies. • Analyze and evaluate proposed benefit design and cost-sharing changes to determine financial and actuarial impacts. • Conduct pricing analyses, actuarial studies, and financial modeling to support product and rate development initiatives. • Assess the impact of proposed state and federal legislative, regulatory, and healthcare reform changes on pricing and product strategy. • Perform Mental Health Parity compliance reviews and support related regulatory reporting requirements. • Conduct experience analyses and drill-down studies to identify emerging trends, utilization patterns, and key cost drivers. • Develop ad hoc actuarial models and analytics to support strategic decision-making and business initiatives. • Collaborate with Product, Finance, Underwriting, Regulatory, Compliance, and other business partners to evaluate assumptions and recommendations. • Review and analyze data from multiple sources to support actuarial projections and risk assessments. • Prepare reports, presentations, and recommendations for management, clearly communicating complex actuarial concepts and analytical findings.

🎯 Requirements

• Bachelor's degree in Mathematics, Statistics, Actuarial Science, Economics, Finance, or a related quantitative field • Minimum of four (4) years of actuarial, statistical, healthcare analytics, or related quantitative experience • Progress toward Associate of the Society of Actuaries (ASA) designation preferred • Experience supporting actuarial pricing, modeling, forecasting, or financial analysis initiatives • Working knowledge of premium rate development, healthcare pricing, and actuarial methodologies • Familiarity with state and federal regulatory requirements related to health insurance products • Strong understanding of actuarial principles, statistical methodologies, and quantitative analysis techniques • Advanced proficiency in Microsoft Excel, including complex formulas, modeling, pivot tables, and data analysis • Experience with SAS, SQL, R, Python, or other statistical and analytical programming languages preferred

🏖️ Benefits

• Comprehensive health benefits (Medical/Dental/Vision) • Retirement Plans • Generous PTO • Incentive Plans • Wellness Programs • Paid Volunteer Time Off • Tuition Reimbursement