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$93.5K

$154K

How much do actuarial software jobs pay per year?

As of Jul 3, 2026, the average yearly pay for actuarial software in the United States is $93,525.00, according to ZipRecruiter salary data. Most workers in this role earn between $71,500.00 and $109,500.00 per year, depending on experience, location, and employer.

What are some common challenges faced by professionals working in actuarial software roles, and how can they be overcome?

Professionals in actuarial software roles often encounter challenges such as adapting to rapidly changing regulatory requirements, ensuring the accuracy of complex models, and integrating software solutions with legacy systems. Staying current with industry standards and regularly attending training or webinars can help address these challenges. Collaborating closely with actuarial, IT, and compliance teams also fosters a better understanding of business needs and technical constraints, leading to more robust and compliant software solutions.

What are the key skills and qualifications needed to thrive as an Actuarial Software Specialist, and why are they important?

To excel as an Actuarial Software Specialist, you need strong analytical skills, a background in actuarial science or mathematics, and familiarity with insurance concepts, often supported by relevant actuarial exams or a related degree. Proficiency in actuarial modeling software (such as Prophet, MoSes, or AXIS), programming languages (like Python, SQL, or VBA), and data analysis tools is typically required. Excellent problem-solving abilities, attention to detail, and effective communication skills help you collaborate with both technical and business teams. These competencies ensure accurate modeling, efficient process automation, and the delivery of reliable insights crucial for risk assessment and decision-making in the insurance industry.

What is actuarial software and what is it used for?

Actuarial software refers to specialized computer programs designed to assist actuaries in modeling financial risks, performing complex calculations, and analyzing data for insurance, pensions, investments, and other financial fields. These tools help actuaries create projections, value insurance products, comply with regulations, and make data-driven decisions. Common features include statistical analysis, simulation, reporting, and integration with databases. Actuarial software streamlines workflows and improves accuracy, allowing actuaries to focus on interpreting results and advising organizations.
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Actuarial Software jobs near you
Vice President, Actuarial Services

Vice President, Actuarial Services

Marsh & McLennan Companies, Inc.

Schaumburg, IL • On-site

$115K - $214K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 13 hours ago

Job description

Company:
Marsh McLennan Agency
Description:
About Marsh McLennan Agency Midwest
Marsh McLennan Agency's Midwest Region is a full-service brokerage providing business insurance, employee benefits, private client insurance, and retirement services to businesses and individuals across the country. MMA Midwest is consistently recognized as a top workplace, attracting and retaining its insurance talent by rewarding expertise and investing in career development. Colleagues enjoy an award-winning culture that fosters a highly productive and results-driven working environment.
A day in the life.
As our Vice President of Actuarial Services on the Financial Analytics team, you'll lead and expand our actuarial and financial analytics services. You will oversee actuarial compliance, regulatory reporting, and the development of proprietary models and analytics to support our client base. You will unify and manage underwriting and actuarial teams, drive innovation, and enhance our competitive position in the market.
Our future colleague.
We'd love to meet you if your professional track record includes these skills:
  • Minimum 10 years of actuarial experience in Health Insurance / Benefits Consulting, with proven ability to work in a matrixed environment with competing priorities.
  • Leading, managing, and developing Actuarial and Underwriting teams, fostering a unified and collaborative environment
  • Expertise in self-funded employee benefits, medical, Rx, stop loss, IBNR, and discount analysis as well as Overseeing actuarial compliance and regulatory reporting.
  • Providing consultative support throughout the client lifecycle, assisting with prospective efforts, and supporting renewal negotiations
  • Developing, validating, and innovating proprietary actuarial models, templates, and financial analyses
  • Collaborating with Financial Analytics and other actuarial hubs to enhance cost projection processes and ensure actuarial soundness
  • Bachelor's Degree or equivalent work experience and an Associate or Fellow of the Society of Actuaries.

These additional qualifications are a plus, but not required to apply:
  • Proficiency in MS Office (Word, Excel, PowerPoint), with advanced skills in Excel, Access, and actuarial software.
  • Willingness to travel up to 30%

A Great Place to Work. A Great Place to Perk.
Recognized for workplace culture by the likes of Fortune Magazine, The Chicago Tribune and more, our colleagues enjoy an environment that fosters creativity as well as individual and organizational growth. A small sampling of the benefits our colleagues enjoy include:
  • Medical, dental, vision, 401K benefits and more
  • The flexibility to work at home or an office, based on your discretion and schedule
  • Start with 20 days of paid time off
  • A paid day off to volunteer and company-organized volunteer events
  • Up to $1,000 per year in matching charitable donations
  • Up to $750 per year in wellness rewards
  • All the nitro cold brew coffee and sparkling water you can drink
  • A company-wide mentality that you can never appreciate your co-workers too much

Who You Are is Who We Are
MMA Midwest has created an award-winning culture largely due to meeting our colleagues where they are, celebrating their differences and building an inclusive environment. We challenge ourselves to create a workplace where our colleagues feel not only welcomed, but feel they belong; where we not only embrace diverse perspectives and opinions but seek them out; and where we ask not how a colleague fits our culture, but what they add to it.
Marsh McLennan and its affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.
To learn more about a career at MMA, check us out online: http://marshmma.com/careers or flip through our recruiting brochure: https://www.flipsnack.com/BB9CD8DD75E/limitless-opportunities
Follow us on social media to meet our colleagues and see what makes us tick:
  • https://www.instagram.com/lifeatmma_midwest/
  • https://www.facebook.com/MMAMidwest
  • https://x.com/MarshMMAMidwest
  • https://www.linkedin.com/company/marsh-mclennan-agency

#MMAMW
#LI-Hybrid
The applicable base salary range for this role is $115,000 to $214,500.
The base pay offered will be determined on factors such as experience, skills, training, location, certifications, education, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives.
We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.

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