Actuarial Analyst

Gallagher • Rolling Meadows, IL

1d

About The Position

At Gallagher, we help clients face risk with confidence because we believe that when businesses are protected, they’re free to grow, lead, and innovate. You’ll be backed by our digital ecosystem: a client-centric suite of consulting tools making it easier for you to meet your clients where they want to be met. Advanced data and analytics providing a comprehensive overview of the risk landscape is at your fingertips. Here, you’re not just improving clients' risk profiles, you’re building trust. You’ll find a culture grounded in teamwork, guided by integrity, and fueled by a shared commitment to do the right thing. We value curiosity, celebrate new ideas, and empower you to take ownership of your career while making a meaningful impact for the businesses we serve. If you’re ready to bring your unique perspective to a place where your work truly matters; think of Gallagher.

Overview

The Gallagher National Risk Control Team is now the Gallagher Claims and Risk Consulting Team. This new team is equipped with experts, processes and solutions to help you meet the evolving nature of risk. As risk evolves, so has Gallagher with tools and programs to help you proactively meet these challenges now and in the future. Gallagher's Claims and Risk Consulting team includes more than 100 safety and risk control professionals across the country with in-depth knowledge of current and emerging regulations, safety and health management, and operational exposures.

How you'll make an impact

Actuarial Analysis and Risk Evaluation:
Prepare and interpret risk data for complex purposes and external stakeholders.
Design insurance or retirement plans, calculate plan premiums, and determine cash reserves and premium rates to ensure sufficient funds for benefits payment and profitability.
Participate in rate-making, reserving, and risk evaluation functions.
Determine rates of mortality, sickness, retirement, etc., based on statistical data analysis.
Technical Accuracy and Compliance:
Check actuarial calculations and reports to ensure technical accuracy and compliance with standards.
Perform actuarial work with immediate oversight, adhering to Standard Operating Procedures and actuarial models.
Client Engagement and Problem Solving:
Interact with clients to develop relationships and provide tailored solutions.
Adjust or recommend solutions to account issues to solve problems or improve client effectiveness.
Identify trends and insights, communicating findings to key stakeholders.
Data Management and Analysis:
Lead data collection and manipulation within spreadsheets and database applications.
Standardize datasets for evaluating clients’ risk and providing actuarial indications.
Perform benchmarking analysis, loss ratio analyses, and evaluate premium pricing against peers.
Presentation and Reporting:
Assist in the preparation and presentation of materials for clients, including PowerPoint presentations, Power BI dashboards, and summary reports.
Ensure all worksheets and analyses are clearly documented, footnoted, and reviewed by senior actuaries.
Research and Development:
Manage and conduct research projects, communicating findings to others under minimal supervision.
Continuously update actuarial templates, macros, and industry data.
Assist with running Monte Carlo simulation models and preparing reserving strategies.
Team Collaboration and Leadership:
Work independently or with a team on larger, low to moderately complex client projects/engagements.
Train new team members and contribute to the development of the internship program by mentoring interns.
Support general and actuarial consultants on ad hoc projects.
Compliance and Special Projects:
Comply with internal controls and company values while completing training and administrative activities.
Perform special projects and other duties as assigned.

Requirements

• Bachelor’s degree
• 3 years related experience
• Demonstrates strong Communication skills
• Demonstrates strong Analytical skills
• Demonstrates strong Attention to detail
• Demonstrates strong Financial acumen
• Demonstrates strong Business acumen

Nice To Haves

• Membership of the Society of Actuaries (SOA) with a designation of Associate, Society of Actuaries (ASA), or membership of the Institute and Faculty of Actuaries (IFoA).
• Strong exam progress towards, or qualification as, Fellow Society of Actuaries (FSA) or Fellow of the IFoA (FIA or equivalent).

Responsibilities

• Prepare and interpret risk data for complex purposes and external stakeholders.
• Design insurance or retirement plans, calculate plan premiums, and determine cash reserves and premium rates to ensure sufficient funds for benefits payment and profitability.
• Participate in rate-making, reserving, and risk evaluation functions.
• Determine rates of mortality, sickness, retirement, etc., based on statistical data analysis.
• Check actuarial calculations and reports to ensure technical accuracy and compliance with standards.
• Perform actuarial work with immediate oversight, adhering to Standard Operating Procedures and actuarial models.
• Interact with clients to develop relationships and provide tailored solutions.
• Adjust or recommend solutions to account issues to solve problems or improve client effectiveness.
• Identify trends and insights, communicating findings to key stakeholders.
• Lead data collection and manipulation within spreadsheets and database applications.
• Standardize datasets for evaluating clients’ risk and providing actuarial indications.
• Perform benchmarking analysis, loss ratio analyses, and evaluate premium pricing against peers.
• Assist in the preparation and presentation of materials for clients, including PowerPoint presentations, Power BI dashboards, and summary reports.
• Ensure all worksheets and analyses are clearly documented, footnoted, and reviewed by senior actuaries.
• Manage and conduct research projects, communicating findings to others under minimal supervision.
• Continuously update actuarial templates, macros, and industry data.
• Assist with running Monte Carlo simulation models and preparing reserving strategies.
• Work independently or with a team on larger, low to moderately complex client projects/engagements.
• Train new team members and contribute to the development of the internship program by mentoring interns.
• Support general and actuarial consultants on ad hoc projects.
• Comply with internal controls and company values while completing training and administrative activities.
• Perform special projects and other duties as assigned.

Benefits

• Medical/dental/vision plans, which start from day one!
• Life and accident insurance
• 401(K) and Roth options
• Tax-advantaged accounts (HSA, FSA)
• Educational expense reimbursement
• Paid parental leave
• Digital mental health services (Talkspace)
• Flexible work hours (availability varies by office and job function)
• Training programs
• Gallagher Thrive program – elevating your health through challenges, workshops and digital fitness programs for your overall wellbeing
• Charitable matching gift program

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level