Associate Actuary Job Description
Associate actuary
provides actuarial analysis needed to support the Annuity block within Annuity and Life Insurance Valuation team.
Associate Actuary Duties & Responsibilities
To write an effective associate actuary job description, begin by listing detailed duties, responsibilities and expectations. We have included associate actuary job description templates that you can modify and use.
Sample responsibilities for this position include:
Providing technical expertise in actuarial related audits areas, such as new product development and pricing, actuarial experience study and assumption setting, valuation methodology determination, actuarial systems and process development, capital management, forecasting and planning analysis, and reinsurance
Explaining complicated technical concepts to non-technical audiences
GAAP reporting Supporting CADs quarterly and annual GAAP production processes
Lead the development, maintenance and enhancement of new methodologies, products, procedures and actuarial models which support the business plan and develop written specifications for IT when required
Lead or assist in project work including establishing internal reports, analyzing profitability of existing treaty lines and business case proposals
Monitors trend of profit and profitability by line of business and/or product
Ensure accuracy of data from valuation and admin systems
Interact with senior management to advise on reinsurance issues
Monitoring audit coverage, issues and trends throughout the year
Remaining current with various industry issues and areas of emerging actuarial risk Enterprise wide actuarial initiatives, adapting audit coverage as appropriate
Associate Actuary Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Associate Actuary
List any licenses or certifications required by the position: ASA, FSA, COBRA, IBNR, SOA, MAAA
Education for Associate Actuary
Typically a job would require a certain level of education.
Employers hiring for the associate actuary job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Actuarial Science, Mathematics, Statistics, Education, Economics, Finance, Sciences, Business, Math, Computer Science
Skills for Associate Actuary
Desired skills for associate actuary include:
Annuity products
Actuarial principles
Concepts
Disciplines
Practices and processes within multiple fields
Valuation
Business
Its products
Processes
Life insurance
Desired experience for associate actuary includes:
Minimum funding requirements under ERISA
Recommended plan contributions
Pension expense and liabilities in accordance with applicable accounting
Enrolled Actuary (EA) and /or Associate of the Society of Actuaries (ASA) are
ASA designation required
CFA or CERA designation
Associate Actuary Examples
1
Associate Actuary Job Description
Job Description Example
Our company is searching for experienced candidates for the position of associate actuary. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for associate actuary
- Represent Regional Marketing, where appropriate, on various processes and infrastructure-related working groups
- Identify and pursue opportunities with third party partners and distributors, this includes the development and execution of strategies strategy to write more reinsurance business through these third party partnerships
- Support the development and analysis of innovative and marketable life insurance products in accordance with the company's financial goals and risk appetite
- Produce capital projections to support the Annuities quarterly forecasting process
- Support the Forecast Redesign project for Annuities
- Provide an analysis and concise summary of pension plan provisions and proposed benefit structure as part of the pre-sales process, identifying any new or unusual risks specific benefit and transaction features that present pricing, on boarding or implementation challenges
- Respond to internal and external auditor request, ad-hoc reporting requests
- Develop and improve analysis tools
- Leadership of other team members
- Coordination of major projects across Life product lines
Qualifications for associate actuary
- Knowledge of fixed income assets
- Must be an active participant in the Actuarial Student Program, taking additional exams towards FSA
- In lieu of Bachelor's, will accept Master's in a listed discipline and 1 year of relevant experience
- Working knowledge of Actuarial Systems
- FSA or strong Career ASA required
- Ability to take initiative and work independently ability to work under pressure and within time constraints to effectively accomplish individual and team objectives is important to this role
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Associate Actuary Job Description
Job Description Example
Our company is searching for experienced candidates for the position of associate actuary. 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 actuary
- Works with Life and Annuity product, valuation, and operational areas to identify opportunities to improve capital efficiency and/or generate capital for the organization
- Performs key actuarial functions including evaluation of the impact of cost of care initiatives, analysis of financial performance, and special projects
- Designs and completes special projects such as linking cost of care saving to financial performance and creating and/or reviewing financial presentations for senior level audiences
- Provides strategic advice to the VP & CFO of Clinical Solutions in reference to actuarial and financial analysis
- Works/coordinates with the direct reports of the VP & CFO of Clinical Solutions to identify and implement varied projects, programs and plans that support achievement of organizational goals
- Develops and maintains for the VP & CFO of Clinical Solutions an inventory of projects and their milestones/deliverables
- Makes PowerPoint presentations to internal stakeholders in reference to financial analysis, initiatives and/or projects
- Works closely with department Admin Assistant to maintain the VP & CFO of Clinical Solutions apprised of/schedule upcoming department commitments
- Monitor findings, recommendations and managements action plan resulting from validation reports, ensuring actions taken appropriately address concerns
- Analyze new types of risks and distribution channel models and develop loss picks and pricing for same using non traditional sources of information
Qualifications for associate actuary
- ASA strongly preferred
- Prior exposure to either experience analysis or LTC is preferred
- Minimum of 4 years of actuarial experience required
- Strong team player, willing to perform in roles that assist lead
- Self-motivated and driving for results
- Proficient with Microsoft Excel, Access, Oracle, PL/SQL, and VBA
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Associate Actuary Job Description
Job Description Example
Our company is looking for an associate actuary. 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 actuary
- Review projection runs produced out of Polysystems and ensure life business projections – including Cash Flow Testing and Business Planning – are run using the correct model and assumption setup
- Complete and prioritize multiple actuarial analyses appropriate for the functional area
- Projects will include rate filings, ultimate loss projections, pricing studies, risk capital modeling, portfolio analysis, and research projects
- Lead the communication, documentation and coordination of information, technical issues and activities with Product Management and Underwriting internal and external colleagues and clients
- Along with Product Management and Underwriting, develop monitoring protocols for platform based clients and traditional clients as needed
- Issue Actuarial Opinions on pricing and reserving topics
- Perform research on latest marketing/product trends in the HK/SEA markets and present results internally and externally
- Travel to Southeast Asia
- Price Property reinsurance contracts for North America
- Present and substantiate actuarial results to underwriters and the underwriting committee
Qualifications for associate actuary
- Strong skills with Microsoft Office Excel and VBA
- Experience in SAS, PL/SQL, or other comparable programming experience
- Demonstrates advanced knowledge regarding technical aspects of work
- Flexible team player, self-driven, motivated
- GPA of 3.2 or greater at the time of graduation
- Demonstrated Expertise (“DE”) in Defined Benefit (DB) plan (qualified and non-qualified) consulting, including performing ERISA and FASB actuarial valuations and participant benefit calculations, completing non-discrimination testing (incl
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Associate Actuary Job Description
Job Description Example
Our growing company is hiring for an associate actuary. 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 actuary
- Develops new concepts, technologies, services, processes or products to foresee future customer requirements
- Influences the strategy to address internal or external business and regulatory issues
- Proactively identifies and solves the most complex problems that impact the management and direction of the business
- Has expertise in leading-edge theories, techniques, and/or technologies within own and related disciplines
- Proactively identifies and solves the most complex problems with significant impact on the business
- Influences senior management decisions that have an impact on business direction
- Drives the development of innovative new concepts, services, technologies or products
- Develops strategies for highly visible or risky projects that have significant business impact
- Dialogue with brokers and their actuaries regarding pricing analysis
- Work with other actuaries to improve models and fine-tune assumptions and methodologies
Qualifications for associate actuary
- Merger and acquisition projects supporting mainly potential buyers
- Strong technical and analytical skills, proficient wtih Excel
- Bachelor’s degree in relevant field, , Actuarial Science, Mathematics, Statistics, Economics
- ASA/FSA, Master Degree
- Competency in high level programming languages such as VBA, C++ or actuarial software
- Bachelor’s degree in Mathematics, Actuarial Science, Economics, Finance, Statistics or related field requiring modeling, programming or quantitative analysis
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Associate Actuary Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of associate actuary. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for associate actuary
- Make recommendations to use technology as efficiently as possible and reduce rating turn-around time
- Peer review actuarial work performed by others
- Prepares and interprets data and related formulae
- Calculate and review GAA/STAT/TAX reserves and DAC
- Designs and completes special projects related to health care reform, Medicare Part D, other regulation and product development and management
- Provides oversight and direction to junior actuarial/financial associates in the department
- Monitor the development of new regulatory standards especially for capital and reserves including PBR, RBC, ICS
- Contribute to the ongoing development of the company’s Economic Capital model including investigation of alternative methodologies for measuring various key risks
- Contribute to the development of tools for tracking and measuring mortality outcomes, including mortality volatility, and for estimating future mortality improvements
- Focus on self-development, including participation in the actuarial student program
Qualifications for associate actuary
- Membership in the Casualty Actuarial Society (ACAS or FCAS) and membership in the American Academy of Actuaries (MAAA)
- At least six years of insurance/actuarial experience in a primary insurance company
- Experience with new product development, the rate filing process and departments of insurance
- Knowledge of non-traditional reinsurance/alternative market
- Strong Technical actuarial skills and computer skills
- Ability to think outside the box, assess risk and exposures using non-traditional methods and be comfortable developing pricing and loss picks using non-traditional tools and methods while adhering to actuarial standards of practice