We are seeking a credentialed actuary (ACAS or FCAS) who is a proven leader with an entrepreneurial spirit to create a data science practice within the EIA’s existing Actuarial and Data & Analytics (DnA) Departments. The candidate should have deep knowledge of commercial lines, data strategy, analytics, and state of the art data science technology. This position offers the opportunity to build a data-driven decision making culture and to define strategy for use of both basic and advanced analytics to produce actionable analytics and predictive modeling to support decisions and operational processes. In addition, the position will provide support to the actuarial department. The location is in Folsom, California.
Set annual project plan based on input from EIA departments and member committees. Projects focus on enhancing profitability and business functions (e.g., claims, pricing, risk selection) but also may be exploratory to answer business questions.
Develop individual project plans, timetables, and deliverables. With IT, DnA and other EIA departments, ensure the plans address data collection, model iteration, validation and operationalizing both model and model results. Regularly communicate project status vs plan.
Keep a log/catalog of projects, code, and models.
Work with IT, DnA and other EIA departments to expand availability and use of internal data (both structured and unstructured); develop strategy for data access for analysis; contribute to decisions made about information value, quality and reliability.
Keep abreast of the latest machine and deep learning tools, methodologies and data sets (open source and proprietary). Test and evaluate.
Based on EIA and member needs, build a team of data scientists. Define job roles, recruit candidates and then manage directly or indirectly a team of data science professionals.
Job Requirements
Education / Experience: Minimum seven years of actuarial experience including at least three as an FCAS or ACAS. Minimum of three years of experience building predictive statistical models. An advanced degree in Statistics, Mathematics, Computer Science or other related quantitative field is preferred. In-depth insurance industry/business knowledge required.
Certificates and Licenses: Fellow or Associate of the Casualty Actuarial Society. Predictive Modeling accreditation desirable.
Programming: Experience with statistical computer languages (R, S+, etc.) and fluency with “big data” tools (Python, SAS, SQL, etc.) to manipulate data and draw insights from large data sets is required. Experience working with various data architectures.
Math: Highly sophisticated ability to create and use advanced statistical and predictive modeling techniques and concepts (Generalized linear models, Non-linear models, Bayesian methods, Decision trees, Random forests, Machine learning, Neural networks, etc.). Proficiency in statistical analysis, quantitative analytics, forecasting/predictive analytics, multivariate testing and optimization algorithms.
Innovation and Initiative: Exhibits a drive to learn and master new technologies and techniques. Employs sound judgment in determining how innovations will be deployed to produce a higher return on investments. Analyzes previously used concepts, processes or trends to devise new efficiencies or approaches not obvious to others.
Reasoning: Ability to propose solutions to loosely defined business problems by leveraging pattern detection over potentially large datasets. Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
Communication: Excellent written and verbal communication skills, as well as the ability to effectively present technical concepts to non-technical individuals including both EIA staff and member Underwriting, Claims, Finance and Executive Committees.
Technical: Knowledge of insurance industry, programming, and current technologies used in predictive modeling and statistical analysis.
Benefits
A generous benefit package is provided including Public Employees Retirement System (PERS); a Section 125 Cafeteria Plan with a generous allowance from which coverage may be provided for the employee and their dependents for health, dental, and vision insurances; long-term disability and short-term disability insurance; life insurance; deferred compensation program; 13 paid holidays per year, sick and vacation leaves. As a PERS participant, EIA employees are exempt from paying into Social Security, except for the Medicare portion of the cost.
Physical Requirements
Physical 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 a negligible amount of force constantly to move. Some travel may be required.
Special Requirements
Possession of a valid State of California Driver’s License issued by the State Department of Motor Vehicles, or the ability to obtain one within the first month of employment. Proof of auto insurance with no exclusion for business use is required.