Actuarial Analyst

Company: Merchants Insurance Group
Location: Buffalo
Posted on: April 10, 2025

Job Description:

Actuarial Analyst

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Hybrid work schedule

Buffalo, NY



Merchants Insurance Group, a leading Property and Casualty Insurer in the Northeast, is looking for an Actuarial Analyst for our Corporate Actuarial team based in our Corporate Headquarters in Buffalo, New York.

The Actuarial Analyst will become part of a dedicated actuarial team focusing on providing support and production of monthly and quarterly reserve reviews and analytics related to loss reserves, loss ratio analysis, planning and projections, and reinsurance data capture and review.

Merchants Insurance Group, rated A- (Excellent) with a positive outlook by the A.M. Best Company, is proud to be one of Buffalo Business First's Best Places to Work in Western New York (2023, 2024), a Fast Track company (2019-2024), and a Top Private Company (2019-2024). Merchants has been granted Ward's 50 designation as a top-performing property-casualty insurance company for four consecutive years. In October 2024, Newsweek and Statista included Merchants Insurance Group on their first-ever America's Most Reliable Companies list, which highlights organizations that other companies can feel confident doing business with in 2025. Of 1,500 B2B companies evaluated, Merchants was one of only 300 companies to make the list.

Merchants offers its colleagues a Hybrid work schedule. The Hybrid work schedule requires 8 full days per month in the office, with the option to work the remaining days at home or in the office. This exciting Hybrid Work benefit offers colleagues a flexible work schedule with the ability to remain connected with their Merchants team and colleagues.



Essential Duties and Responsibilities include, but are not limited to:

Provides support for routine rate reviews by preparing rate indications, analyzing loss experience, calculating premium impacts, and collaborating with product managers on rate proposals and filings.
Provides support for the quarterly and annual reserve review process: maintain underlying data and triangles, validate historical data, improve efficiency of review process, assist in development of summary reports for presentation to various internal and external stakeholders.
Provides support to data reporting team on specified external data calls and development of internal data warehouse and reporting platform as it relates specifically to claims and reserving data.
Develops internal and external databases and querying tools.
Develops standardized reports for reserve-related analyses, maintenance and improvement of reserving queries and pricing analyses.



Qualifications & Skills:

Qualified candidates will have a 4 year degree in math, actuarial science, finance, economics or equivalent work related experience.
Up to 2 years in the actuarial field or Property & Casualty insurance experience.
1 - 3 actuarial exams preferred, or a strong commitment to pursue exams.
Excellent Excel skills required.
ResQ or similar reserve software knowledge is a plus.
SQL experience preferred.
Python or other coding knowledge is a plus.
PowerBI or Tableau experience is a plus.
Ability to work in a team environment as well as independently.
Exceptional organization, verbal and written communication skills are highly desirable. The ability to excel in a team environment.



Merchants Insurance Group Pay information:

Merchants Insurance Group offers a competitive pay scale. The actual compensation will be determined based upon experience and other factors permitted by law. The initial pay range for this position is $65,000 - $80,000.



Merchants Insurance Group Benefits:

The Actuarial Analyst qualifies for participation in the Merchants Insurance Group's Actuarial Student Program.
Welcoming and positive work environment.
Flexible work arrangements, including flex scheduling and summer hours.
Hybrid work schedule. The Hybrid work schedule will require 8 full days per month in the office, with the option to work the remaining days per month at home or in the office.
Colleague Appreciation Events.
Competitive pay scale.
Generous paid time off package.
Full Benefits: Health, Dental, Vision, Life Insurance, Short Term Disability, 401(k) employer match amount is 100% up to 6% of your annual contributions. You are immediately 100% vested in the employer match dollars.
Outstanding company bonus program.
Tuition Reimbursement.



And many more exciting company benefits!! EOE

Keywords: Merchants Insurance Group, West Seneca , Actuarial Analyst, Professions , Buffalo, New York