Actuarial Intern Job Description

Actuarial Intern Job Description

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Actuarial intern provides actuarial analysis to develop loss model for client business, estimate reinsurance pricing, and determine effect of reinsurance.

Actuarial Intern Duties & Responsibilities

To write an effective actuarial intern job description, begin by listing detailed duties, responsibilities and expectations. We have included actuarial intern job description templates that you can modify and use.

Sample responsibilities for this position include:

Familiarity with basic actuarial tools including Excel and SQL Server
Using software such as SAS, MS Access and Excel to produce analyses
Assists with modifying existing Excel spreadsheets to support new products or product changes, running spreadsheets to assist in the validation of numerical results from various systems, and investigating numerical discrepancies and formulating hypotheses as to their cause
Communicating results with finance and/or the business and securing their buy in
Assist with Illustration Model Regulation testing
Assist with Quarterly Value of New Business Reporting
Assist with Quality Assurance testing
Assist in the development of premium pattern assumptions for Universal Life products
Prepare material for state filings
Summarize and communicate results to technical and non-technical audiences

Actuarial Intern Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Actuarial Intern

List any licenses or certifications required by the position: SOA

Education for Actuarial Intern

Typically a job would require a certain level of education.

Employers hiring for the actuarial intern job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, Math, Graduate, Business, Computer Science, Management

Skills for Actuarial Intern

Desired skills for actuarial intern include:

Excel
PowerPoint
R
SAS
Word
Reinsurance industry
SQL
Actuarial fields
Finance
Insurance industry

Desired experience for actuarial intern includes:

At least one Society of Actuaries exam passed
Knowledge of life insurance and/or annuity products
Microsoft Access and Visual Basic
High degree of ownership and initiative on assigned projects
Bachelor degree in actuarial science, mathematics, or statistics
Knowledge of at least one computer programming language and/or At least one SOA/CAS exam passed

Actuarial Intern Examples

1

Actuarial Intern Job Description

Job Description Example
Our growing company is searching for experienced candidates for the position of actuarial intern. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for actuarial intern
  • Work with Broking and Analytical teams (CMS, Actuarial, Financial Services, ) as applicable
  • Gather necessary data from the vendor or client
  • Collect and analyze data for assigned project(s)
  • Prepare assessments, reports and summaries of findings, and presents results to others
  • May design and run models using actuarial software applications or processes
  • May provide actuarial support for various actuarial functions including financial planning and reporting, cash flow testing, asset/liability models, determining actuarial reserves and/or product development
  • Performing tasks related to data preparation for analytic projects and/or product implementation
  • Setup and formatting of pricing and/or reserving reports
  • Testing and troubleshooting pricing and product implementation
  • Fundamental concepts of insurance
Qualifications for actuarial intern
  • Visual Basic would be beneficial writing macros and manipulating
  • Full time students working towards a Bachelors degree in Actuarial Science, Mathematics, Statistics, Risk Management or a related field
  • Ability to work on and complete projects in a team oriented environment
  • Bachelors degree in actuarial science, mathematics, or statistics
  • Preference is given to students who have passed at least one actuarial exam
  • Graduate December 2016 – June 2017
2

Actuarial Intern Job Description

Job Description Example
Our company is hiring for an actuarial intern. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for actuarial intern
  • Research/Locate original pricing assumptions for COI review – locate documentation and build out tables in excel to use for future modeling
  • Improve functionality of Excel reports
  • Acquire knowledge of retirement & insurance products and insurance industry
  • An understanding of actuarial roles and responsibilities
  • Completing Statutory, Tax and GAAP valuation requirements
  • Developing premiums and benefits for new insurance
  • Designing new products and product features
  • Projecting profitability generated by Company’s products
  • Performing actuarial research and statistical analysis
  • Data preparation, validation, reconciliation and analysis of premium, claims and other data
Qualifications for actuarial intern
  • Have passed (or plan to pass) at least one actuarial exam by the completion of their junior year
  • Are interested in working in a flexible part-time capacity approximately 10-15 hours a week during the current school year November 2015 – May 2016, and then transitioning to the traditional 10 week summer internship program June – August 2016
  • Are interested in working in a flexible part-time capacity approximately 16-24 hours a week during the current school year
  • At least one Society of Actuaries exam passed, or VEE credit received
  • Currently pursuing a Bachelor or Masters in Mathematics, Actuarial Science or related field, with a graduation date of December 2016 or beyond
  • At least one (maximum of 4) Society of Actuaries (SOA) exam passed
3

Actuarial Intern Job Description

Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of actuarial intern. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for actuarial intern
  • Performing Microsoft Excel spreadsheet work - Updating and maintaining existing spreadsheets
  • Analyzing and assisting with property and auto rate level indications
  • Testing of new rate systems
  • Participating in rate filing preparations
  • Supporting implementation of rate changes, product enhancements and testing controls
  • Simplify and standardize valuation calculations
  • Provide clear documentation and communication of technical work
  • Improve projection tools with input and guidance from assigned actuarial group
  • This position is for an intern within Countrywide Pricing, focusing on Private Passenger Auto (PPA) Ratemaking
  • This summer’s intern will focus on enhancing PPA rate level indications by utilizing foundational ratemaking techniques, advanced ratemaking techniques, such as Generalized Linear Models (GLMs)
Qualifications for actuarial intern
  • Are interested in working in a flexible part-time capacity approximately 16-24 hours a week during the Fall 2016 school year
  • Familiarity with MS Access or other database applications is preferred
  • Excellent knowledge of Excel based tools (advanced VBA would be an advantage)
  • Good team player and also able to work independently
  • Pursuing a Bachelor’s degree in Actuarial Science, Math, Statistics or related field AND be in strong academic standing
  • Postgraduate/undergraduate in local or overseas universities majoring in actuarial science or insurance studies
4

Actuarial Intern Job Description

Job Description Example
Our growing company is looking for an actuarial intern. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for actuarial intern
  • Responsibilities and office location (Woodland Hills, CA or Los Angeles, CA) vary by specific position and department you join (preferences will be considered but not guaranteed)
  • Collect and aggregate internal data for a reserve study
  • Assist in the analysis of a reserve segment
  • Aggregation of industry information for departmental use
  • Assist in validating new actuarial reserving software
  • Develop client incurral reports which will assist GRP and its clients to understand drivers of profitability
  • Deliver reserve reports in support of case pricing
  • Assist in the evaluation of retrocession premium
  • Test actuarial models used for risk evaluation
  • Assisting with financial reporting
Qualifications for actuarial intern
  • A self-starter, outgoing, adaptive and eager to learn
  • Interested in insurance and wealth management business
  • A fast-learner who is highly motivated to learn
  • A self-starter who can perform independently with minimal support
  • Pursuing a Bachelor’s or Master’s degree in actuarial science, mathematics, or another major with quantitative course work
  • Graduates considering a career in actuarial science or a career change to actuarial science, or
5

Actuarial Intern Job Description

Job Description Example
Our innovative and growing company is looking to fill the role of actuarial intern. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for actuarial intern
  • Have above average mathematical and analytical ability to be able to analyze and resolve difficult problems
  • Be dependable and able to work from our West Des Moines office at least 15 hours per week, August 2017 – May 2018
  • Prepare data for company and industry analysis of emerging regulations
  • Update and develop Valuation modeling software
  • Design and development of tools and initial data to develop model office population mix and assumptions for use in legacy modeling
  • COVA bi-monthly reporting
  • Loan Rate setting
  • Convert reports from MS Access to Alteryx
  • Building reporting capabilities with Qlikview software
  • Assist on launching new products and perform UAT
Qualifications for actuarial intern
  • Student or graduate with a strong mathematical and economic background (eg, Economics / Econometrics, Quantitative Finance, Statistics, Maths)
  • Junior or senior standing bachelor’s or master’s degree students pursuing actuarial science, mathematics, or another major with quantitative course work
  • Completion of one (1) year towards a Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Economics, Administration or a related field when internship begins
  • Able to commerce immediately
  • Pursuing an actuarial degree or planning on taking actuarial exams
  • Preferred degrees include Mathematics, Actuarial Science, Statistics, Computer Science, CIS, or related field

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