[Hiring] Associate Actuary @The Hanover Insurance Group

Role Description

This role supports the development, maintenance, and application of Hanover's Economic Capital Model (ECM) and related capital management tools. The ECM serves as a key decision-support framework for evaluating enterprise risk, capital requirements, risk-adjusted performance, reinsurance strategies, and strategic business opportunities.

• Support the maintenance, governance, and ongoing enhancement of Hanover's Economic Capital Model (ECM).
• Analyze model assumptions, methodologies, and outputs, contributing recommendations that improve the ECM's effectiveness, accuracy, and business value.
• Perform enterprise risk quantification, stochastic modeling, and capital adequacy analyses across underwriting, reserving, catastrophe, market, credit, and operational risks.
• Conduct stress testing and scenario analyses to assess the impact of emerging risks and changing business conditions on capital requirements.
• Analyze key drivers of economic capital consumption, profitability, and risk-adjusted performance across business segments.
• Support the development and maintenance of capital allocation and performance measurement frameworks used in strategic decision-making.
• Determine the impact of reinsurance structures, capital management initiatives, and business opportunities on risk, return, and capital efficiency.
• Analyze the capital implications of strategic initiatives and management actions, providing data-driven insights and recommendations.
• Partner with Finance, Enterprise Risk Management, Investments, Treasury, Pricing, Reserving, and business leaders to communicate results and support enterprise decision-making.

Qualifications

• Bachelor's degree in a relevant technical or quantitative field.
• Five+ years of actuarial, capital modeling, enterprise risk management, predictive analytics, pricing, reserving, or related analytical experience.
• ACAS or equivalent experience preferred.
• Strong understanding of actuarial modeling techniques, enterprise risk management concepts, and capital management principles.
• Experience interpreting complex analytical results and translating them into business recommendations.
• Advanced skills using Microsoft Office, including Excel and PowerPoint.
• Programming and analytical experience using Python, R, SQL, and other actuarial or data analytics tools, with demonstrated ability to automate processes, develop analytical solutions, and improve operational efficiency.
• Proven ability to manage multiple priorities and deliver high-quality work within established timelines.
• Ability to influence decisions and collaborate effectively across functions and organizational levels.

Benefits

• Medical, dental, vision, life, and disability insurance.
• 401K with a company match.
• Tuition reimbursement.
• PTO.
• Company paid holidays.
• Flexible work arrangements.
• Cultural Awareness Day in support of IDE.
• On-site medical/wellness center (Worcester only).