Actuarial Associate Director -P&C Reserving - STG Consulting This is a hybrid role with the flexibility to work both virtually and from our Chicago, Minneapolis, or New York City Offices
Aon is in the business of better decisions At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.
As an organization, we are united through trust as one inclusive team and we are passionate about helping our colleagues and clients succeed.
What the day will look like Aon's Strategy and Technology Group (STG) is seeking an experienced actuary to join their consulting team and help to accelerate the development of their actuarial advisory business focused on clients in the insurance and reinsurance industries.
STG is Aon's new global consulting and technology business focused on, but not limited to, insurance and reinsurance companies and other participants in the insurance industry. Primary role will be reserving with secondary focus on pricing and/or capital modeling.
Key Responsibilities Reserving - Lead the preparation, analysis, and presentation of quarterly loss and LAE reserve levels using standard actuarial reserving methodologies, ensuring results are clearly communicated to clients and stakeholders.
- Conduct qualitative and quantitative analyses-including data exploration, forecasting, and modeling-to identify trends, deviations, and key drivers of reserve results, offering proactive insights and recommendations.
- Develop and deliver clear reports, presentations, and proposals to clients, supporting their decision-making and ensuring technical findings are accessible and actionable.
- Oversee the allocation of held bulk reserves to granular levels as directed by clients, and provide support to accounting teams for loss-based accruals.
- Perform quality assurance checks and peer reviews on the work of team members, ensuring technical accuracy, integrity, and adherence to internal and external standards.
- Review and evaluate existing procedures and operations, recommending and implementing improvements for greater efficiency and effectiveness both internally and for clients.
- Manage or participate in key actuarial projects, mentor junior team members, and support the delivery of quarterly reserve studies and Statements of Actuarial Opinion (SAO).
Pricing & Predictive Modeling - Knowledgeable on pricing strategies using predictive analytics, actuarial techniques, and machine learning.
- Build and refine pricing models to improve risk segmentation, profitability, and competitive positioning.
- Ensure pricing approaches align with regulatory requirements and market dynamics.
Capital Modeling - Deliver on consulting projects focused on the development, implementation & validation of capital modeling solutions for North American Property & Casualty insurance clients.
- Stay current on emerging modeling techniques and tools and apply them to solve complex business problems.
Client Collaboration & Advisory - Serve as a trusted team member on client engagements, translating complex analytics into actionable business insights.
- Support on client engagements from scoping through delivery, ensuring high-quality outcomes and long-term value.
- Assist in business development efforts by crafting proposals, presenting thought leadership, and identifying growth opportunities.
Cross-Functional Leadership - Partner with underwriting, product, claims, legal, actuarial, and technology teams to deliver integrated solutions.
- Promote collaboration across teams to ensure seamless execution of pricing and modeling strategies.
Regulatory & Compliance - Monitor regulatory changes and advise clients on necessary adjustments to pricing and modeling frameworks.
Talent Development & Team Culture - Mentor and develop team members, fostering a culture of continuous learning and professional growth.
- Implement effective performance management practices and participate in recruitment efforts.
Skills and experience that will lead to success - 5+ years of experience in Actuarial Reserving and Reserve Analysis for P&C insurance.
- Experience in Economic capital modeling for Property and Casualty insurance preferred
- Prior experience working as an Actuarial Consultant preferred
- Experience with NAIC Statements of Actuarial Opinions is preferred
- Experience in actuarial pricing methods, GLMs, machine learning, and regulatory frameworks is preferred
- Experience in Dynamic Financial Analysis preferred
- Proven leadership in client-facing roles, with a track record of delivering strategic pricing and modeling solutions
- Proficiency in R, SQL, Python, or similar languages preferred
- Bachelor's or Master's degree in Actuarial Science, Statistics, Data Science, Economics, a related field or equivalent years of industry experience
- FCAS, ACAS or equivalent credential preferred
How we support our colleagues Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to: a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon's discretion; medical, dental and vision insurance, various types of leaves of absence, paid time off, including 12 paid holidays throughout the calendar year, 15 days of paid vacation per year, paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions. Eligibility for benefits is governed by the applicable plan documents and policies.
In addition to our comprehensive benefits package, we encourage an inclusive workforce. Plus, our agile environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two "Global Wellbeing Days" each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions for our colleagues as well.
Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.
Aon values an innovative and inclusive workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.
Aon provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status. People with criminal histories are encouraged to apply.
We are committed to providing equal employment opportunities and fostering an inclusive workplace. If you require accommodations during the application or interview process, please let us know. You can request accommodations by emailing us at or your recruiter. We will work with you to meet your needs and ensure a fair and equitable experience.
For positions in San Francisco and Los Angeles, we will consider for employment qualified applicants with arrest and conviction record in accordance with local Fair Chance ordinances.
Aon is not accepting unsolicited resumes from search firms for this position. If you are a search firm, you will not be compensated in any way for your submission of a candidate, even if Aon hires that candidate. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
The salary range for this position (intended for U.S. applicants) is $150,000 to $200,000 annually. The actual salary will vary based on applicant's education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted based on applicant's geographic location.
This position is eligible to participate in one of Aon's annual incentive plans to receive an annual discretionary bonus in addition to base salary. The amount of any bonus varies and is subject to the terms and conditions of the applicable incentive plan.
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