Senior Actuarial Associate Job Description

Senior Actuarial Associate Job Description

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Senior actuarial associate provides assistance with the enhancement of assigned life and annuity blocks; and provides technical support in the form of desktop applications, relational databases, homegrown actuarial software, and commercial actuarial software.

Senior Actuarial Associate Duties & Responsibilities

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

Sample responsibilities for this position include:

Participate in the Enterprise Risk Management (ERM) and Corporate Actuarial model governance plans
OAnalyze variances, communicate results
OFoster partnerships with finance and business groups
OCapital planning, monitor and analyze financial strength of insurance subsidiary
OReflect industry best practices
Ensure appropriate model controls and utilize appropriate peer review and functional review of model data
Support in annual Principles-Based initiatives such as Embedded Value and PBEC (Economic Capital) projects
Build and/or improve asset-liability models and processes
Assist with annual assumption updates (economic, mortality, expense, etc)
Define business requirements for new models and model updates in support of new products and methodology changes

Senior Actuarial Associate Qualifications

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

Licensing or Certifications for Senior Actuarial Associate

List any licenses or certifications required by the position: ASA

Education for Senior Actuarial Associate

Typically a job would require a certain level of education.

Employers hiring for the senior actuarial associate 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, Applied Statistics, Financial Analysis, Business, Computer Science, Math

Skills for Senior Actuarial Associate

Desired skills for senior actuarial associate include:

Account and regulatory requirements
Benefit program design
Legislative
Programming languages
Modeling packages
Spreadsheet/database software
C++
Life actuarial techniques
Microsoft Excel
Prophet software

Desired experience for senior actuarial associate includes:

18 months or more years of actuarial experience required
Must have two actuarial exams completed
Completion of some actuary exams desired
Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field
Advanced PC and technical skills, including database applications, spreadsheets, and actuarial software (AXIS, Prophet, or equivalent)
Based in Taiwan

Senior Actuarial Associate Examples

1

Senior Actuarial Associate Job Description

Job Description Example
Our growing company is hiring for a senior actuarial associate. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for senior actuarial associate
  • Implement and maintain analytical tools or approaches for understanding and explaining our business
  • Interact with and collect / compile results from Annuities and Corporate partners
  • Address requests from various corporate functions – Internal Audit, Risk Management, Treasurer, Portfolio Management, Capital Markets Hedging
  • Testing premium rates for various products (10/20YLT, ART, DI, HIP, ) being configured by partners at Majesco Insurance Technology and Systems – using excel, SOAP software and scripting language
  • Understanding different association’s plans and how they vary in premium structure
  • Creating comprehensive group of scenarios to test before signing off for Portal team to begin testing
  • Work closely with Majesco partners to learn proprietary software to take over configuration in reasonable timeframe
  • Be responsible for communications between Majesco partners and Portal team, correcting any issues and asking/answering any relevant questions
  • Meet Portal deadlines for testing and configuration so associations can go live with rate quoting when requested
  • Keep Portal team and other business areas up to date with timeline and progress
Qualifications for senior actuarial associate
  • Knowledge of data retrieval languages
  • Knowledge of BCBSM’s databases or industry knowledge
  • Ability to manage large, complex projects and oversee multiple projects at the same time
  • Ability to apply advanced actuarial methodologies and their applications to solve business problems
  • Ability to apply advanced principles, theories, and concepts and explain to clients
  • Strong familiarity with the internal and external statistical plans and sources of data, and the use of spreadsheet applications
2

Senior Actuarial Associate Job Description

Job Description Example
Our company is searching for experienced candidates for the position of senior actuarial associate. 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 senior actuarial associate
  • Drive and conduct trainings of IFRS 17 to the local business units and other related areas
  • Lead the financial and business impact assessment of Asia and co-ordinate with other areas where required
  • Drive the implementation through working collaboratively and communicate effectively with various areas such as finance, capital management, pricing and product development
  • Key contributor in developing the valuation system requirements for IFRS 17
  • Candidate will also gain exposure to various project base engagements on EV/ NBV related matters
  • Develop and project of actuarial models using actuarial software
  • Addressing requests from various corporate functions –Risk Management, Treasurer, Hedging, Internal Audit
  • Possibility to assist with the medical underwriting of quotes if the candidate has prior medical underwriting experience
  • Partner with experience analysis team to identify assumptions required for pricing
  • Research and develop new business modeling capabilities available in GGY
Qualifications for senior actuarial associate
  • Some experience in annuities is a plus
  • Ability to communicate actuarial results to non-actuaries
  • Programming Experience in any computer languages is a plus
  • Self-starter who can meet deadlines and work independently
  • High professional integrity and work ethic
  • Strong technical and analytical skills – strong proficiency in Excel required, ability to learn additional software
3

Senior Actuarial Associate Job Description

Job Description Example
Our company is looking for a senior actuarial associate. 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 senior actuarial associate
  • Collaborate with Modeling COE to convert LTC AAT models from MG-ALFA to GGY Axis
  • Perform User Acceptance Testing of GGY Axis fixed product related modeling solutions developed by the Modeling COE
  • Provide accurate and insightful model validation to facilitate forecasting and decision making
  • Ensure adherence to appropriate corporate governance, controls, and documentation policies/procedures
  • Provide audit support functions on advisory projects
  • Perform the recalculation of actuarial values and support health insurance clients
  • Supervise and serve as a mentor to associate, new hires, and interns on engagements
  • Conduct trainings of IFRS 17 to the local business units and other affected areas
  • Support financial and business impact assessment of Asia and co-ordinate with other areas where required
  • Support the implementation through working collaboratively and communicate effectively with various areas such as such as finance, capital management, pricing and product development
Qualifications for senior actuarial associate
  • Knowledge of Statutory accounting a plus for corporate modeling responsibilities
  • Strong technical/modeling skills, knowledge or experience in Microsoft
  • Access, FoxPro, VBA, AXIS an asset
  • Degree holder with professional actuarial qualification, such as FSA, FIA, FCIA or equivalent
  • Minimum 7 years relevant experience in the life insurance or actuarial consulting industry
  • Experience in EV an advantage but not a must
4

Senior Actuarial Associate Job Description

Job Description Example
Our innovative and growing company is hiring for a senior actuarial associate. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for senior actuarial associate
  • Collaborate with peers and work on multiple projects in a dynamic and fast-paced environment
  • Peer review and impact analysis of assumption updates
  • Comply with internal and external regulatory requirements
  • Supporting the Appointed Actuary and statutory reporting team with production of the NAIC Annual Statement and Actuarial Opinion and Memorandum and being the point of contact for the annual external audit
  • Develop, maintain, and enhance actuarial projection models for Individual Life Forecasting of Variable, Interest Sensitive, and/or Traditional products
  • Work with sales team and coach actuarial students to provide tailor-made and competitive package to our target customers through pricing
  • Manage and coach actuarial students to
  • Quote new business rates for new transactions
  • Assist in the development of new and enhanced general account stable value products for DB and DC plans and for the institutional and retail capital markets
  • Support the reporting team through the monthly, quarterly, and year-end close, during the unlocking process
Qualifications for senior actuarial associate
  • Ability to analyze and propose solutions for a range of technical actuarial issues
  • Knowledge of Variable Annuity Insurance products
  • Knowledge in AXIS modeling an advantage but not a must
  • A minimum of one year of experience working with an actuarial software package and a minimum of one year of applicable recent work experience in a professional services environment
  • Comfort in a highly matrixed environment
  • Actuarial exam progression a strong plus
5

Senior Actuarial Associate Job Description

Job Description Example
Our company is searching for experienced candidates for the position of senior actuarial associate. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for senior actuarial associate
  • Support User Acceptance Testing of changes to the Delphi valuation system, including analyzing the results from Full Volume regression testing, working with the reporting team and Modeling COE
  • Develop and/or improve documentation of processes
  • Modeling the pricing and repricing of new life insurance products
  • Modeling the profitability of new business for quarterly reporting
  • Ongoing modeling conversion to Axis
  • Comply with risk and control frameworks
  • Designs, builds, parameterizes and supports the creation of a production environment for Individual Life modeling, helping to ensure a controlled and optimized modeling platform
  • Assist in review/update/development of the mortality tables for life products
  • Assist in developing other life product assumptions, such as partial surrenders, mortality assumptions for John Handcock business
  • Perform ad-hoc analyses that involve underwriting, reinsurance, pricing
Qualifications for senior actuarial associate
  • 3 or more actuarial exams required
  • Long Term Care Experience a plus
  • Programming experience in any language a plus
  • Experience with Variable Annuities or Guaranteed Living Benefits a plus
  • Experience with Principles Based Reserves and Capital a plus
  • Bachelor's degree or higher in actuarial science, mathematics, or related quantitative fields

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