Analyst Actuarial Job Description

Analyst Actuarial Job Description

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Analyst actuarial provides testing expertise and coach/mentor the testing team around best practices in quality assurance methodologies, practices and techniques (this includes more junior Quality Assurance Analysts as well as the broader technology project teams).

Analyst Actuarial Duties & Responsibilities

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

Sample responsibilities for this position include:

Assists in preparing the actuarial portions of financial statements or other documents
May direct the work of Actuarial Students or Actuarial Technicians
Support implementation projects for fixed, variable, and payout annuities living benefit and death benefit riders
Provides support in designing, pricing and assessing the risks and profitability of life insurance products, new existing products
Assists in the preparation of more complex reports and studies
Designing, funding, pricing, and the implementation and management of retirement programs
Corporate restructuring and capital enhancement initiatives (demutualization, securitization, mergers & acquisitions)
Working with a wide range of associates at all levels within the local practice
Performing asset/liability modelling
Perform annual pension (qualified and nonqualified) and post-retirement medical valuations for a variety of clients

Analyst Actuarial Qualifications

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

Licensing or Certifications for Analyst Actuarial

List any licenses or certifications required by the position: SOA, S.O.A, EA, COBRA, IBNR, USMI, CFA, CMA, CPA, CAS

Education for Analyst Actuarial

Typically a job would require a certain level of education.

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

Skills for Analyst Actuarial

Desired skills for analyst actuarial include:

IFRS 17 regulations
Business analysis methods and best practices
Excel above all
Graphical user interfaces
Healthcare payment innovation and reimbursement
Insurance company operations
Insurance concepts and rating techniques
MS Office
Project management
Quality assurance and testing methodologies

Desired experience for analyst actuarial includes:

Ability to effectively operate personal computer and related spreadsheets and data base software
Zero to two years of relevant benefits experience
Minimum of one actuarial exam (more than one is a plus)
Strong technical skills, previous IRS funding valuations, (calculations required under PPA, funding, and accounting rules preferred), preparing government forms, valuation data preparation
Must be motivated with strong oral and written communication skills
Pursuing actuarial exams with goal of becoming an EA, ASA

Analyst Actuarial Examples

1

Analyst Actuarial Job Description

Job Description Example
Our company is growing rapidly and is looking for an analyst actuarial. 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 analyst actuarial
  • Provides support to actuaries by performing basic actuarial research, pricing, asset/liability and experience analysis
  • Assists in the preparation of complex reports and studies
  • Builds, maintains, runs and validates actuarial models, tools and databases
  • Prepares filing materials for new products, rate filings and other regulatory requirements
  • Serves as an actuarial resource to internal and external contacts
  • Retrieves, manipulates and analyzes data to support assigned projects
  • Performs actuarial calculations involving life contingencies, including but not limited to premiums, reserves and/or non-forfeiture values
  • Implements and tests product related calculations, rates and values on Company administrative systems
  • Provides support in monitoring the profitability of in force products
  • Deliver and effectively communicate annual company business plan to finance and non-finance peers, including financials associated with strategic plan, annual business plan and OJK business plan, also covering updates and revisions to the plan
Qualifications for analyst actuarial
  • Advanced knowledge of Microsoft Office applications, , Word, Excel, Access, and Visual Basic
  • Efficient worker with good organization skills
  • Ability and desire to work in a dynamic culture
  • Bachelor’s or Master’s degree student (or recent graduate) pursuing actuarial science, mathematics, or another major with quantitative course work
  • Zero to three years of relevant benefits experience (one to two years preferred)
  • Strong technical skills, IRS funding valuations, (calculations required under PPA, funding, and accounting rules preferred), preparing government forms, valuation data preparation
2

Analyst Actuarial Job Description

Job Description Example
Our company is hiring for an analyst actuarial. 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 analyst actuarial
  • Perform pricing and experience analyses, including communication of indications to business units and assessment of loss reduction options and/or state rate filings where applicable
  • Prepare special reports, data compilations, analysis of company and industry experience, other ad hoc analysis requests
  • Actuarial assistance to the development of new products and premium rates the risk profile analysis
  • Conduct rate indication / profitability study by business segment (State group, Line of Business, Products) for a $1 Billion book of primary commercial lines business (Auto, GL, Property, ) to identify pockets of profitable growth opportunities in the local insurance market and the areas requiring remediation
  • Participate in monthly/quarterly product monitoring to identify issues and opportunities within the various classes and regions and assist in the development of actions plans
  • Communicate results of pricing analyses to the various audiences including underwriting and senior management
  • Support and analyze activities related to the Direct Pay, Local Group and National Accounts Market Segment and all lines of business
  • Increase knowledge of actuarial and insurance theory & practice, progressing to the FSA designation
  • Rate analysis and development
  • Forecast/variance analysis and reporting
Qualifications for analyst actuarial
  • Bachelors or Master’s degree in actuarial science, mathematics, statistics, finance or any other major with significant quantitative course work with a minimum overall GPA of 3.0
  • Successful completion of actuarial exams highly preferred
  • Financial modelling experience (knowledge of Moses or Prophet would be advantageous) and a good understanding of life insurance products, regulations and reporting requirements
  • Those who proactively take initiative and are able to identify and solve challenging problems in a logical, systematic way
  • A dedication to work to achieve the highest quality standards whilst working both independently and on client teams, in a fast-paced environment
  • Availability to travel on an as needed basis, domestically and internationally
3

Analyst Actuarial Job Description

Job Description Example
Our growing company is hiring for an analyst actuarial. 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 analyst actuarial
  • Develop, implement and revise detailed claims analysis
  • Monthly revenue projections and annual client reconciliations
  • 1-3 years of experience or proven ability working as an actuarial analyst, preferably in the health care industry
  • Support client case work, which may include analysis of risk through structuring, pricing and optimising of reinsurance programmes
  • Assist in the development of actuarial models
  • Identify and present areas where improvements may be made enabling tasks to be completed in a more efficient manner
  • Develop knowledge of all actuarial systems & processes
  • Evaluating historical and prospective profitability of reinsurance treaties
  • Becoming a line of business expert for 1-2 of the above lines where you will coordinate the annual parameter updates and regularly review available resources, pricing approaches and profitability views of the line
  • Presenting pricing results to the Underwriting Committee, consisting of senior management from XLRA
Qualifications for analyst actuarial
  • Have good communication skills, both spoken and written
  • Be able to competitively manage many projects
  • Knowledge of programming languages is a plus (SAS, R, Python, SQL )
  • Pursuit of SOA or ASPPA exams is preferred
  • Oversight of client work and deadlines
  • Employees in the Actuarial Training Program are expected to have a college degree with concentration typically in Actuarial Science, Mathematics, Finance, Statistics, Economics or related field and should be pursuing associate-ship in the Society of Actuaries
4

Analyst Actuarial Job Description

Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of analyst actuarial. 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 analyst actuarial
  • Assisting in process improvement efforts
  • Assisting in control and governance process
  • Work closely with Underwriting, IT, Science and Modeling teams to design, develop and maintain technical pricing models for various Commercial products in the US and Internationally
  • Explain complex actuarial concept and pricing techniques to non-technical partners (IT, UW, Operations) for implementation and correct use of rating tools
  • Research and develop advanced pricing techniques to continue refining pricing models
  • Collaborate with Modeling team to incorporate predictive model into pricing models
  • Conduct premium dislocation analysis to assess the business impacts of changing pricing methodologies or factors and obtain buy in from business
  • Understand underwriting and system workflow and requirements to provide business solutions to improve efficiency while achieving profitable growth
  • Collaborate with ERM on model validation
  • Collaborate with legal and rate filing department to ensure model compliance
Qualifications for analyst actuarial
  • Bachelor’s degree in actuarial or in mathematics
  • Minimum of 3 exams of the Society of Actuaries
  • 1 or 2 years of experience in the life insurance industry, an asset
  • Knowledge of the AXIS software, an asset
  • Proficiency in reserving software ResQ
  • Degree in Actuarial, Mathematics or related discipline
5

Analyst Actuarial Job Description

Job Description Example
Our innovative and growing company is looking for an analyst actuarial. 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 analyst actuarial
  • Provide Actuarial Pricing Support to the Professional Liability Division (PL Programs, Captive Agents, Misc
  • Provide Technical Rate and Product Development Reviews
  • Database Development and Maintenance for Data Analytics
  • Regular Interaction with Arch Underwriting, IT and Compliance Departments
  • Prepare and maintain loss development factors and risk reserve earnings patterns for term exposures ranging from 1-year to Lifetime
  • Assist in development of the Annual Operating Plan (AOP) and associated variance analysis
  • Maintain divine discontent with the status quo and identify / implement improvements to processes, standards, and work products
  • Maintain strong customer relationships with focus on transparency and collaboration
  • Collaborate with Personal Accident business teams to design, price, file and monitor a diverse line of Personal Accident products
  • Assist with preparation of rate and actuarial memorandums to support rate filing
Qualifications for analyst actuarial
  • Thorough, hands-on understanding of as GLM and other advanced modeling methods
  • Carrying out non-standard scheme benefit calculations and depending on your experience, you may get involved in actuarial work scheme design, funding and accounting
  • Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a closely related field is required for all levels
  • Understands fundamental principles, concepts, practices and processes within a specific field or discipline
  • Excellent analytical skill, good computer skills (Oracle, Database )
  • Strong critical thinking, pattern recognition/detection, and problem-solving skills

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