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Best Buy

Senior Actuarial Analyst

Best Buy - Minneapolis, MN

Are you looking for an opportunity where you can leverage your strengths in actuarial and cost management? We are looking for an experienced individual to join our Warranty team in the Geek Squad Protections space to provide critical analytics and cost management on a $400M warranty reserve portfolio and the related annual written premium.? ? At Best Buy we offer much more than a paycheck. Surrounded by the latest and greatest technology, a team of amazing coworkers and a work environment where anything is possible, you'll find it easy to be your best when you work with us. We provide an exciting work environment with a community of techno learners where you can be yourself while investing in your career. Empowered with knowledge you will discover endless opportunities to grow. We believe the success of our company depends on the passion of employees for learning, technology and people. ?What is the Senior Actuarial Analyst responsible for? ? The Senior Actuarial Analyst will play a pivotal role in driving ?costs out of the Geek Squad Protection (GSP) warranty model, to enable new innovative product offerings and solutions which drive higher sales and longer term customer relationships, and to serve as Best Buy's subject matter expert in the business and industry drivers impacting the underwriting and actuarial results within our warranty service contracts business. This role is a key strategic player in managing the relationship with our 3rd party warranty obligor and underwriter and is expected to achieve strategic and financial outcomes that are mutually acceptable and agreeable between the parties. ?Areas of ownership and impact: ?Warranty Portfolio\r
Provide actuarial and business insights to the warranty portfolio and larger Services business, including analyzing frequency, severity, and claims mix trends, developing forecast and financial models, managing data from a wide variety of systems, and preparing monthly/weekly reporting packages and communicating them out to all levels, including executives. Analysis & Forecasting\r
Apply actuarial methodologies to overall Services business by calculating earn (usage) curves on non-traditional insurance offerings.\r
\tPerform root cause analysis for increasing frequencies, excessive claim payments, and compliance related issues.\r
\tAssemble financial reporting and analysis including ad hoc analysis and reporting as requested. Interpret data to explain trending and tracking of warranty sales and expenses. Process Improvement & Methodologies\r
Become proficient in company operations, systems and actuarial methodologies.\r
\tIdentify opportunities for business process improvement and cost savings to the current business plan.\r
\tWork with other internal and external?actuaries by sharing business trends/decisions and aligning on methodologies. Manage actuarial relationship with 3rd party warranty underwriter & obligor. The impact you will have: ?\r
High degree of influence in all directions (including director and VP level).\r
\tDrive business partnerships to run the business.\r
\tProvide a Services experience that enhances our culture, mission and values. Why consider this opportunity? \r
Take your career to the next level.\r
\tWork with a team of dedicated, passionate, fun individuals and the industries best and brightest in the warranty space.\r
\tHighly visible role that allows you to influence decisions that make an impact throughout the enterprise. What is required for this role? ? This role is highly cross-functional and is required to operate independently in managing the warranty service contract reserve associated with all of the product categories.? This role is expected to lead without authority to drive to business decisions that have material financial impact to the Geek Squad Protection warranty portfolio and overall Best Buy profitability. ? The most successful candidate will be someone who has the ability to develop and grow relationships inside and outside of the organization. In addition, a candidate that has a process oriented mindset and is forward-thinking, progressive, understands the retail world and has a past track record of significant accomplishments.? ?We are seeking a candidate with the following experience and skill set: ? Basic Qualifications ?\r
1 years of actuarial experience\r
\tBS/BA in Actuarial Science, Mathematics, Statistics, or related subjects\r
\t2 or more Societies of Actuaries (SOA) or Casualty Actuarial Society (CAS) actuarial exams \r
Preferred Qualifications ?\r
A strong mathematical understanding combined with analytical and modeling skills\r
\tComputer programming experience (SQL, VBA, other object-oriented languages)\r
\tExcellent verbal and written communication skills required\r
\tA high level of proficiency in Excel\r
\tExperience with rate making, reserving and P&C actuarial concepts \r
  Additional Info Job Industries Retail

8 days 18 hours ago

Best Buy


Senior Actuarial Analyst Best Buy - Minneapolis, MN, United States


Location: Minneapolis, MN

Company Profile:
Best Buy is the world’s largest multi-channel consumer electronics retailer with stores in the United States, Canada, China, and Mexico. is among the top ten retail websites in the United States and we have the number one customer loyalty program of its kind. There are more than 1 billion visitors to our website and 600 million visits to our U.S. stores each year. Our Blue Shirts sales associates and Geek Squad Agents are committed to delivering on our Customer Promise: