Division or Field Office:
Department of Position: Life Actrl, Clms & Cmplnc Dept
Corporate Home Office (Erie, PA)
At Erie Insurance, you're not just part of a Fortune 500
company; you're also a valued member of a diverse and inclusive
team that includes more than 5,000 employees and over 2,200
independent agencies. Our Employees work in the Home Office complex
located in Erie, PA, and in our Field Offices that span 12 states
and the District of Columbia. To attract and retain the best
talent, we reward our team members with competitive salaries and a
very generous benefits package.
Coordinates technical, analytical, and research activities for
all Life Actuarial Department functions, including pricing, product
development, valuation, financial reporting and reinsurance.
Duties and Responsibilities
- Develops and applies a thorough knowledge of Erie Family Life's
products, their uses in the marketplace, and actuarial aspects of
their development. Performs pricing and competitive studies and
assists in the development of pricing assumptions and other special
- Develops PC applications and reports needed to perform company
experience studies of mortality, persistency, expenses, and other
factors for pricing and other testing. Monitors experience and
makes recommendations as needed. Assists Illustration Actuary in
testing of illustrated scales. Completes industry sales and
- Prepares and reviews periodic financial reports required of the
department. Produces statutory, tax, and generally accepted
accounting principles (GAAP) reserves and supporting documents
where needed. Assists the Appointed Actuary by performing
asset-liability matching studies.
- Develops, modifies and maintains computer applications to
automate routine operations and special projects of the department.
Develops and maintains systems to compute premium, reserve,
non-forfeiture, settlement option, and other policy-related values
for administrative and illustration systems.
- Assists in preparing and proofreading policy forms, actuarial
memoranda describing reserve and non-forfeiture calculations, and
related material for submission to the various state insurance
departments. Implements procedures to ensure compliance with
actuarial regulations and guidelines.
- Assists in the administration and analysis of reinsurance
treaties. Develops and implements automated improvements where
needed. Analyzes potential new treaties for net cost
- Implements solutions and performs actuarial calculations for
the department and for other departments within Erie Family Life,
or its affiliated companies, as required.
- Participates in Society of Actuaries and other professional
development activities as available.
The first 4 duties listed are the functions identified as
essential to the job. Essential functions are those job duties that
must be performed in order for the job to be accomplished.
This position description in no way states or implies that these
are the only duties to be performed by the incumbent. Employees are
required to follow any other job-related instruction and to perform
any other duties as requested by their supervisor, or as become
Ability To Learn And Follow Procedures
Ability to Manage Complexity
Developing And Maintaining Relationships
Information Management Skills
Planning And Organizing
Bachelor's degree in mathematics or related field required.
Achievement of the Associate of the Society of Actuaries (ASA)
designation required. Three years of previous experience in life
actuarial work, including thorough knowledge of pricing and
valuation techniques, required. Proficiency in spreadsheet software
required. Previous experience in programming, database applications
and commercial actuarial software required.
Lifting 0-20 lbs; Occasional (<20%)
Lifting 20-50 lbs; Occasional (<20%)
Lifting Over 50 lbs; Occasional (<20%)
Driving; Occasional (<20%)
Pushing/Pulling; Occasional (<20%)
Manual Keying/Data Entry; Often (20-50%)
Nearest Major Market: Erie
Job Segment: Actuarial, Liability, Database, Testing, Insurance,