Actuarial 2021 Summer Internship

BUILD YOUR FUTURE...WHILE PROTECTING THEIRS.

Westfield Insurance, a mid-size property and casualty insurance company is looking for a curious and motivated student to take on some big responsibilities. Located in the quaint and picturesque Village of Westfield Center, Ohio, we are a short drive to the bustling city of Cleveland.

There is nothing quaint about the work done here; the opportunities presented to our interns offer an excellent opportunity for career development while generating contacts in an exciting industry. At Westfield Insurance, we offer a wide range of opportunities for interns to develop and grow in positions in their chosen academic area. Through our internships, we allow you to showcase your academic talent and guide you in setting achievable career aspirations. Our internship program encourages you to set meaningful goals and objectives for the duration of your internship. You’ll meet with key leaders, have job shadowing opportunities, make presentations, and even evaluate and contribute new ideas. Our interns receive meaningful assignments that impact our business. Your future is bright, promising, and full of endless possibilities. Explore those possibilities at Westfield Insurance where our interns work on projects that make a difference.

Actuarial Intern Job Summary

Salary Range:  Commensurate with experience

During the course of your summer, you will learn about the insurance industry and gain analytical experience by providing analysis and improving overall actuarial processes on real business projects in areas such as Pricing, Loss Reserving, and Research and Development. These projects will draw on your creativity and ability to analyze data, draw conclusions, and present results. These experiences will help you understand the key role actuaries play in the P&C Insurance industry. Actuarial interns at Westfield are assigned a supervisor and mentor who will guide the intern throughout the summer. Depending on their area of assignment, the intern may assist with a wide-variety of actuarial duties as outlined in the essential functions below. Westfield will also be providing exam support in the form of study hours throughout the summer for those preparing for Casualty Actuarial Society exams.

The selected candidate needs to be able to begin their internship in either May or June of the upcoming year.  The approximate duration of the internship is 12-15 weeks. Desired qualifications and physical requirements are outlined below.

Essential Functions (primary functions and/or reasons the job exists in order of importance)

1. Working under direct supervision, completes meaningful actuarial assignments with direction given. Follows standard processes in assisting with completing the following items in assigned area (e.g. Pricing, Loss Reserving, Research and Development):
   • Providing input on pricing of new and existing products.
   • Collaborating with Underwriting and Product in managing business.
   • Determining loss and loss expense reserve recommendations. 
   • Preparing and defending state filing materials.
   • Develop management reports. 
   • Estimating unpaid loss and loss expense liabilities.
2. Actively participates in summer internship program events including Lunch & Learns.
3. Gathers and analyzes data to assist business leaders in making data-driven decisions.
4. Develops business acumen through interactions and shadowing with other professionals.
5. Attends business unit meetings as assigned.
6. Creates and delivers presentations.
7. Travels occasionally in order to participate in special assignments, training, and/or travel between office locations.

Desired Qualifications/Experience/Certification/Education (in order of importance)

1. Currently a junior or graduate student level actively pursuing a four-year or advanced degree in Actuarial Science, Mathematics, Statistics, or related discipline
2. Either a minimum of one completed Casualty Actuarial Society (CAS) exam or currently studying for a CAS exam.
3. Proven ability to collaborate and work with a team.
4. Demonstrated strong oral, written, and interpersonal skills resulting in the ability to interact with all levels of business within the organization.
5. Demonstrated organizational skills.
6. Demonstrated initiative and ability to work independently.
7. Knowledge in MS Excel or in programming languages such as SAS, R, SQL, and VBA. 
8. Valid driver’s license and a driving record that conforms to company standards.

Physical Requirements (specific to the role)                                            

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. 

• Ability to work effectively in an office environment for 40+ hours per week (including sitting, standing and working on a computer for extended periods of time).
• Ability to communicate effectively in a collaborative work environment utilizing various technologies such as:  telephone, computer, web, voice, teleconferencing, e-mail, etc.
• Ability to travel as required.
• Depending on assigned department, physical requirements may vary in severity.

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.

Westfield Insurance is an equal-opportunity employer.

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