• Job Description

  Req#: R1465

  As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.

  Job Description

  As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.

  We are seeking a 2024 Actuarial Trainee for our North America Pricing Team located in New York City .

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  The Trainee Program is an 18 month development initiative beginning July 2024 designed to equip participants with the essential business and technical skills they need to build a successful career in insurance.

  Actuarial Trainees receive hands-on training by working closely with highly experienced actuaries, gaining in-depth knowledge of the organization's business units and underwriting philosophy. The program combines on-the-job learning, workplace mentoring, and directed self-study, providing a robust foundation for a career as an actuary.

  Sompo International’s Trainee Program serves as a launchpad for career advancement, empowering participants to acquire the knowledge and skills essential for success in their respective fields.

  What can I expect as a Trainee?

  ON-THE-JOB LEARNING

  Participants receive training in pricing deals across various lines of business, developing the requisite skillset while fostering interaction with other actuaries and underwriters. They also gain a specialized exposure in a particular line of business to enhance their understanding of specific products and the metrics used to evaluate portfolios. The curriculum includes training in programming languages such as Python, R, and SQL.

  DIRECTED SELF-STUDY

  Sompo International's actuarial student program covers exam fees, textbooks, study materials, provides study time and time off for taking exams, and offers additional compensation upon successful completion of each step towards achieving actuarial credentials.

  CAREER DEVELOPMENT SUPPORT

  At Sompo International, we are committed to developing our employees and helping them reach their full potential. We encourage employees to strengthen their skillset and provide professional development opportunities on topics such as communication, negotiation, self-awareness, and project management to help build successful careers.

  Qualifications

  For the Actuarial Trainee Program, we consider graduating Seniors and recent college graduates with experience working in insurance or data analytics. We value candidates with a strong aptitude for analytical reasoning and technical skills, as well as intellectual curiosity. Candidates should demonstrate proficiency in business, communication, and team collaboration. Additionally, we look for the following attributes:

  • Strong academic background, preferably in a STEM major
  • Bachelor’s Degree required
  • Graduation Date between May 2023 and May 2024
  • 1 to 5 actuarial exams passed
  • Relevant internship experience preferred
  • Coding skills in languages such as R and Python, with related project work
  • Willing to relocate to NYC for a hybrid work schedule

  Salary Range: $70,000 – $75,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.

  At Sompo International, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.

  Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

  We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:

  • Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution.
  • Pharmacy benefits with mail order options.
  • Dental benefits including orthodontia benefits for adults and children.
  • Vision benefits.
  • Health Care & Dependent Care Flexible Spending Accounts.
  • Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children.
  • Company-paid Disability benefits with very competitive salary continuation payments.
  • 401(k) Retirement Savings Plan with competitive employer contributions.
  • Competitive paid-time-off programs, including company-paid holidays.
  • Competitive Parental Leave Benefits & Adoption Assistance program
  • Employee Assistance Program
  • Tax-Free Commuter Benefit
  • Tuition Reimbursement & Professional Qualification benefits

  Sompo International is an equal opportunity employer committed to a diverse workforce. M/F/D/V

  Visit our website at www.sompo - intl.com

• About the company

  Sompo International is a leading global specialty provider of property and casualty insurance and reinsurance.

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