Actuarial Manager Job Description

Actuarial Manager Job Description

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Actuarial manager provides customer training to customers with a focus on the more danced training courses (eg Advanced Coding in Prophet, Introduction to Prophet ALS).

Actuarial Manager Duties & Responsibilities

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

Sample responsibilities for this position include:

Ability to generate Excel-based customized reports and other ad hoc reports
Perform model validation of all in-house actuarial models to ensure model quality exceeds Corporate Model Risk standards
Perform user acceptance testing of the third party vendor system in a highly controlled environment
Perform re-baselining of the actuarial models in compliance with Corporate Software Development Life Cycle Standards
Support new initiatives and propose solutions or new ideas that enhance model stability, effectiveness and efficiency
Opportunity to expose to a variety of models and LTC products, including third party vendor models and in-house actuarial models
Development or review of mortality, expense and policyholder behavior assumptions
Calculation or review of interest crediting rates and related reporting
Significant collaboration with Finance and Actuarial areas such as pricing, valuation and modeling
Support marketing and pricing team on participating management related matters

Actuarial Manager Qualifications

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

Licensing or Certifications for Actuarial Manager

List any licenses or certifications required by the position: PMP, CPA, JD, ASA, ACAS, UK, US, CIA

Education for Actuarial Manager

Typically a job would require a certain level of education.

Employers hiring for the actuarial manager job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, Education, Technical, Computer Science, Math, Applied Statistics

Skills for Actuarial Manager

Desired skills for actuarial manager include:

Demonstrable equivalent experience
Involvement in key business projects using Prophet
Prophet system
Microsoft Excel
Word and PowerPoint
Claims
Underwriting
Excel
Three methods of liability approaches within ALS
Legal

Desired experience for actuarial manager includes:

Must be willing to quickly develop in-depth knowledge of annuity product designs
Must possess or be in pursuit of enrolled actuary designation
Knowledge in insurance products and financial reporting basis IFRS, HKICO, traditional EV & VONB will be an asset
Proficiency in Actuarial Software Prophet is a plus
Manage major initiatives within the Actuarial Integrity area
Allocate actuarial resources to model validation projects, considering existing skill sets and knowledge of staff, development opportunites

Actuarial Manager Examples

1

Actuarial Manager Job Description

Job Description Example
Our company is growing rapidly and is looking to fill the role of actuarial manager. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for actuarial manager
  • OData input and output formats
  • OGovernance process for actuarial models including change management, version control
  • OModel production process including updating model inputs, running models, determining whether production results are consistent with model updates
  • OPreparedness for pending changes (PBA, GAAP)
  • Conduct analysis, pricing and risk assessment to estimate financial outcomes
  • Special Projects as may deemed necessary by the Valuation Actuary which may include Mergers & Acquisition type analyses, promo and conference pricing and simulations and others
  • Develop periodic experience studies (expense, mortality, persistency, profitability, ) for the international subsidiaries
  • Enhance existing Source of Earnings reporting and expand it to all international subsidiaries
  • Review requirements extracted through source system reengineering and conduct Level 1 validation before review of the requirements by customer organization
  • Drive requirements workshop with customer product management / actuarial SME(s) to gather, review, finalize and obtain sign off for business requirements
Qualifications for actuarial manager
  • Must be able to work well independently in a team environment
  • Knowledge of the general insurance industry built up from at least 1 years of experience
  • Fellow of the Society of Actuaries (or near fellow)
  • Minimum of 2-4 years progressive work experience
  • Working knowledge with SOX, MAR, Corporate Pricing and/or Valuation Standards, CGAAP/NAIC is a definite asset
  • Strong interpersonal skills including ability to work with and influence management at various levels of the organization
2

Actuarial Manager Job Description

Job Description Example
Our growing company is hiring for an actuarial manager. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for actuarial manager
  • Ensure effective control of models in order to maintain process transparency and regulatory compliance
  • Leading project design-delivery for key business projects and oversights with the ability to translate pricing requirements and test new assumptions
  • Driving improvement projects wherever required, primarily focusing on ensuring quality, accuracy and timeliness of existing regular reporting requirements
  • Set-up pricing models following best practices of spreadsheet and model management
  • Assist in presenting the results of pricing in various forums and to senior management teams to explain the pricing methods & rationales, competitive positioning and other pricing related details and take internal sign off on the final premium rates
  • Assist in setting up processes for regular review of premium adequacy and actual vs expected analysis for key pricing assumptions and revision of rates when required
  • Internal reporting of portfolio performance within the company and design action items
  • Identify data extract requirements from the systems to be able to perform all pricing related analyses
  • Provide input to strategic planning of the company using the portfolio performance study outputs
  • Contribute and implement ideas on standardizing and streamlining the results production processes for continuous improvement
Qualifications for actuarial manager
  • Continually provide quality and timeliness of work upon requests to ensure customer needs are met
  • Maintain good working relationships with customers through frequent communication and arrange monthly meeting with local entities
  • Provide professional analytical support to local country’s actuaries
  • Estimate effort on specific ad-hoc tasks and analyses, skill levels required, set schedules and recommend turnaround times considering end users’ delivery requirements
  • Recommend and agree priorities with Local Entities
  • At least 7 years financial services industry experience, including at least 1 years of managerial experience, and a Fellow of a recognized actuarial institute or equivalent
3

Actuarial Manager Job Description

Job Description Example
Our growing company is looking to fill the role of actuarial manager. 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 manager
  • Communicate with underwriting to research and resolve issues quickly and escalate issues
  • Advanced knowledge of medical claims data
  • Ensure adequate documentations on all input data and production outputs for good quality control
  • Set up libraries of standard and ad-hoc analysis templates to facilitate efficient production of results
  • Ensure all input data are checked for accuracy and consistency and liaise with users to explain variances from prior period
  • Ensure consistency in pricing and valuation results across basis
  • Ensure quality and timely delivery of ad-hoc analysis, valuation and planning
  • Plan and work closely with local entities to ensure quality submissions
  • Ensure proper documentation of procedure and process
  • Provide insightful commentary to highlight issues and observation on business
Qualifications for actuarial manager
  • Excellent customer focus and commitment to quality while still meeting deadlines
  • At least ASA/AASP
  • Knowledge of actuarial modeling including rating, and budgeting
  • The incumbent contributes know-how in the area of insurance, along with a range of retail financial services in the markets served to optimize the business
  • Actuarial exams are a plus or Investment or Accounting experience
  • Experience with retirement products preferred
4

Actuarial Manager Job Description

Job Description Example
Our company is looking for an actuarial manager. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for actuarial manager
  • Drive operational planning sessions for the business to build out the delivery plan
  • Partner with the business and the information architect to prioritize the work appropriately
  • Build trusted partnership with business stakeholders and drive business enablement leveraging data
  • Build talent within the team through coaching acquiring and growing talent
  • Instill inspiration in project team by effectively communicating the big picture and clear plan to execute, build commitment and empower others, communicate with clarity, courage & timeliness
  • Develops a high performing team (up to 8 direct reports including actuarial students)
  • Sets expectations and priorities for life and annuities actuarial team within the Center of Excellence
  • Works with actuarial subject matter experts to determine priorities related to pricing, reserving, valuation, and modeling for the life and annuities resources within the Center of Excellence
  • Develops new and creative solutions to actuarial issues
  • Conducts independent analysis and draws conclusions and make recommendations
Qualifications for actuarial manager
  • Basic knowledge of insurance products especially P & C experience
  • Experience in the use of actuarial tools and software programs( like Emblem, ,Igloo)
  • Partially qualified (near Associate) with min 5+ years of relevant experience in P & C Insurance
  • Commitment to achieving FSA designation
  • Highly competent in the use of actuarial tools and software programs(Use of Towers’ suite of pricing software (including Emblem, Classifier, Radar, Radar Live)
  • Able to communicate in Japanese would be an asset
5

Actuarial Manager Job Description

Job Description Example
Our company is looking to fill the role of actuarial manager. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for actuarial manager
  • Responsible for incorporating metrics and benchmarks (both internal and external) in analyses to proactively identify and evaluate both leading and trailing indicators of Medicare costs that may affect economic and Medicare cost impact models
  • Revenue forecasting overview
  • Cross functional projects with data science, clinical outcomes, and analytics
  • Well-organized with the ability to handle several projects/clients simultaneously
  • Risk adjustment and predictive modeling experience a plus
  • Drive and support recruiting strategy in partnership with ALDP Student Council and Campus Recruiting Partners
  • Recruits, trains, develops and supervises analyst-level staff through direct or matrix reporting
  • Providing effective support to the actuarial business teams either directly or indirectly through the coordination of various Platform, Global Technology or 3rd party providers
  • Operating in a heavily matrixed environment, leveraging teams from across the business, platform and Global Technology
  • Collaborating closely with the actuarial teams to document actuarial systems and processes and identify pain points and goals
Qualifications for actuarial manager
  • Need 2 Know training
  • Management Development training
  • Minimum of 5 years’ experience as an ASA or FSA
  • Bachelor’s degree from an accredited college/university with a strong academic background in actuarial science, applied statistics, financial analysis, and insurance
  • Degree holder with reasonable progress in actuarial professional qualification, preferably holder of Associate ship
  • Experience in handling various product types is a plus

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