Associate, Actuarial Job Description

Associate, Actuarial Job Description

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Associate, actuarial provides technical and actuarial support as a key member of the Kaiser Medicare team, including bids and related actuarial modeling and data analytics.

Associate, Actuarial Duties & Responsibilities

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

Sample responsibilities for this position include:

Establish best practices and support innovation in pricing and models that employ both deterministic and stochastic analysis
GGY AXIS modelling for calculation under OSFI Test Run 1 and setting up downstream processes for OSFI’s Test Run 1, compilation and aggregation of results and production of reports
Strong knowledge and experience of GGY AXIS software
Pre-ASA with 5+ years of experience in the actuarial field specifically on GGY AXIS modelling and an exceptional understanding of the actuarial theory
Participate in user acceptance testing of GGY-AXIS model conversion project
This position provides assistance to the Director, Actuarial Services in complete review, analysis and documented recommendation of the mortality studies for International Longevity reinsurance annually for the in-force business
This position provides assistance to the Director of Pricing & Product Manager Group Annuity in maintaining pricing guidelines for the Group Annuity line of business
Manage analyses and projects for team with client from start to finish with limited guidance
You will perform annual review for CALM-related actuarial assumptions and ensure effective control of the annual review process
You will recommend and implement model enhancements to improve the model accuracy and efficiency

Associate, Actuarial Qualifications

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

Licensing or Certifications for Associate, Actuarial

List any licenses or certifications required by the position: ASA, COBRA, IBNR, UK, US, FCAS, ACAS

Education for Associate, Actuarial

Typically a job would require a certain level of education.

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

Skills for Associate, Actuarial

Desired skills for associate, actuarial include:

Practices
Industry and professional concepts
Pertinent laws
Principles
Procedures
Professional standards
Regulations
Actuarial theory and methods and their appropriate application desirable
Any actuarial modeling software will be an advantage
AXIS

Desired experience for associate, actuarial includes:

Actively pursuing an SOA designation with a completion date less than 2 years away
5+ years’ experience in annuity or financial derivatives pricing/hedging/valuation role
Comfortable with economic scenarios generator and stochastic-on-stochastic for annuity/derivatives hedging
Advance degree in mathematics, statistics or physics is desired
FSA/ASA designation is a plus for this role
Experience managing direct reports, or managing more junior level resources on projects, is a plus

Associate, Actuarial Examples

1

Associate, Actuarial Job Description

Job Description Example
Our company is looking for an associate, 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 associate, actuarial
  • Maintain data warehouse used for testing, business procedures to support compliance, dashboards for management
  • Compiles and verifies data, prepares reports
  • Calculate and report reserves and related values
  • Perform Actuarial research
  • Prepare Actuarial items for Financial Reports
  • Develop earnings by source for profitability analysis by line of business and/or product
  • Perform ad hoc Actuarial projects
  • Collaborate with Hedging, Valuation, Finance, Corporate Actuarial, Enterprise Risk Management and in creating solutions to complex problems
  • Maintain an inventory of the LICAT interpretation decisions from LICAT Working Groups and help track progress
  • Support interpretation of LICAT through modeling of proxy business portfolios to determine changes in various risk requirements
Qualifications for associate, actuarial
  • You’re a leader with self-motivation and determination to succeed
  • You have a strong aptitude to balance and prioritize multiple projects in a fast paced work environment
  • General knowledge of statutory valuation and GAAP accounting for interest sensitive life products
  • Minimum of five years of relevant benefits experience
  • Completion of at least 1 SOA or CAS exam
  • Ability to clearly and logically communicate actuarial concepts to team members, business partners and other technical and non-technical audiences
2

Associate, Actuarial Job Description

Job Description Example
Our company is growing rapidly and is looking for an associate, 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 associate, actuarial
  • Calculation of technical provisions on US GAAP basis for Lloyds reporting
  • Assisting in responding to management queries and concerns
  • Provides accurate and timely estimates of unpaid claims liabilities and other actuarial items for the monthly accounting statements
  • Develops, analyzes, and quantifies the effects of the new methodologies and/or legislation on FEP or Blue Plans, as appropriate
  • This position will be responsible for leading the Medicare Supplement claim forecasting team
  • Identify and quantify trends in medical cost drivers and potential areas of medical cost improvements
  • Monitor and quantify the impact on claim trends from changes in Medicare payment rates, environmental factors, and business changes
  • Conduct and evaluate studies on utilization and health care costs
  • Create, modify, run and test actuarial claim forecasting models
  • Develop conclusions from actuarial analyses and clearly present their meaning and impact
Qualifications for associate, actuarial
  • Fast learner and ability to work independently in a team environment
  • Ability to travel at least twenty-five percent of the time
  • Strong computer skills, including knowledge of Microsoft Excel, Access, and word
  • Able to demonstrate leadership, initiative, resourcefulness the ability to work independently
  • Passed 2 or more Society of Actuaries Examinations
  • BA or BS in Computer Science, Mathematics or Actuarial Science with at least 2 years of work experience
3

Associate, Actuarial Job Description

Job Description Example
Our growing company is looking for an associate, 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 associate, actuarial
  • Identify new opportunities for actuarial analysis within practice area and work with others as necessary to develop analyses
  • Meet actuarial standards by having all conclusions and recommendations be fully supported by analytical results and ensures all work products are peer reviewed
  • Present analyses that are clear, well organized, and aimed at appropriate audiences and that anticipate questions and directs attention to critical assumptions and findings
  • Partner with non-actuaries to solve large strategic business issues by demonstrating skills outside of an actuarial/statistical framework
  • Guide decision-making by researching/analyzing new business opportunities to determine potential profitability
  • Engage in recruitment activities and encourage others to develop relevant technical and business skills
  • Support the department by taking personal accountability and responsibility for accomplishing particular tasks, while continuously willing to go beyond what is required to overcome obstacles, and learn from any mistakes while receiving constructive feedback
  • Independently seek out opportunities and self-identify opportunities for further development and enrichment, actively pursuing actuarial credentials or maintaining continuing education requirements if already credentialed
  • Provide pertinent model results for Actuarial Opinion and Memorandum
  • Develop claims projections using various sources of information
Qualifications for associate, actuarial
  • Associate of the Society of Actuaries (ASA), and actively pursuing an FSA designation within 1 – 2 years
  • Support the development of the IBNR estimates and rate adequacy studies
  • Knowledge of Smart View or MS Access is a plus
  • Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics, or Computer Science or equivalent experience
  • Prefer passage of Society of Actuaries exams (working toward ASA/FSA designation in the Society of Actuaries)
  • Progress toward a Bachelor Degree in Actuarial Science, Mathematics, Statistics, Finance or related field
4

Associate, Actuarial Job Description

Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of associate, actuarial. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for associate, actuarial
  • Adheres to internal and external compliance requirements/standards assures proper execution of regulatory/ legislative practices
  • Assist with report preparation for prospect opportunities
  • Assist in IBNR calculations, COBRA certifications and Minimum Value certifications
  • Perform special projects as necessary
  • Make a positive contribution to customer satisfaction and constantly strive to improve service to the customer
  • Attend company, department, and staff meetings as required
  • Attend position related seminars/classes as required
  • Responsible for regular and punctual attendance
  • Perform monthly and quarterly projections for Cash Flows, GAAP, Stat, and Stress
  • Perform annual update of the projections and liaise with other business units to obtain various inputs
Qualifications for associate, actuarial
  • Ability to pay attention to detail, produce accurate results, and develop self-validation skills
  • 2-4 years of actuarial experience in property and casualty insurance necessary
  • Bachelor's degree or directly equivalent experience with a strong quantitative background preferred
  • Strong technical skills and attention to detail are required for this position
  • Previous experience with PolySystems LifeMaster preferred
  • Includes travel to professional trade association and plan sponsor meetings
5

Associate, Actuarial Job Description

Job Description Example
Our company is looking for an associate, actuarial. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for associate, actuarial
  • Identifies new opportunities for actuarial analysis within practice area and works with others as necessary to develop analyses
  • Presents analyses that are clear, well organized, and aimed at appropriate audiences and anticipates questions and directs attention to critical assumptions and findings
  • Guide decision-making by researching new business and analyzing data to advise senior level actuaries and other departments on profitable business opportunities
  • Support the department by taking personal accountability and responsibility for accomplishing particular tasks, while continuously will to go beyond what is required to overcome obstacles, and learn from any mistake while receiving constructive feedback
  • Independently seek out opportunities and self-identifies opportunities for further development and enrichment, actively pursuing actuarial credentials or maintaining continuing education requirements if already credentialed (if on the actuarial track)
  • Provide insightful account-specific analyses that enable the business to price new and renewal policies and to set collateral levels as accurately as possible
  • Maintain and improve actuarial pricing tools used by the underwriting team
  • Create and enhance methods of developing various pricing factors
  • Find creative and innovative solutions to interesting and challenging business problems
  • Participate in the preparation of reports on the economic capital
Qualifications for associate, actuarial
  • At least three years of experience in an actuarial role and VA experience is preferred
  • Experience working with large data bases and proficiency in SQL server is preferred
  • Bachelor’s degree in a business-related program with an emphasis in math, statistics, or finance required and a minimum of 3 years of experience in the health insurance underwriting or employee benefits arena
  • Near ASA (3+ exams) or newly obtained ASA is preferred
  • Must have the ability to compile, analyze, present, and interpret financial and statistical information to facilitate decision making
  • High skill in using computer application software for financial modeling, statistical analysis, and spreadsheet calculations required

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