The Associate Actuary applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Conducts analysis, pricing and risk assessment to estimate financial outcomes. Being an Associate Actuary typically requires a bachelor’s degree. Develops probability tables regarding fire, natural disasters, death, unemployment, etc. based on analysis of statistical data and other pertinent information. In addition, Associate Actuary typically reports to a supervisor or manager. Being an Associate Actuary works on projects/matters of limited complexity in a support role. Work is closely managed. Working as an Associate Actuary typically requires 0-2 years of related experience.
Associate Actuary Job Description Template
Our company is looking for a Associate Actuary to join our team.
Responsibilities:
- Managing annual pension valuation work, including data reconciliation, government filings, valuation reports, charts and presentations, etc;
- Support the design, pricing, and implementation of fixed annuity products;
- Produce clear presentations of pricing model findings and analysis;
- Review of benefit calculations and employee benefit statements;
- Provide timely quantifiable analysis of sensitivities and risks of Fixed Annuity products;
- Communicate routinely with Rate setting teams and provide technical support to the IT, Reinsurance, Finance, Underwriting and Compliance areas;
- Producing IRR and MBVoNB profitability metrics through Prophet models on Fixed product lineup;
- Provide business actionable analysis for SPIA business;
- Assisting sales and marketing effort by participating in research and request-for-proposals process.
Requirements:
- Managing annual pension valuation work, including data reconciliation, government filings, valuation reports, charts and presentations, etc;
- Review of benefit calculations and employee benefit statements;
- Assisting sales and marketing effort by participating in research and request-for-proposals process.