The Associate Actuary will analyze statistical data for rate studies, conduct insurance rate filings, and produce reports forecasting risk and liability. May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.
- Write computer programs for special studies in Access, Excel, and Visual Basic
- Run and modify existing programs such as asset shares, reserve factor development, loss ratio studies, lapse rate studies and company projections
- Perform studies for rate increases
- Collaborate with programmers, underwriters, claims experts, and management
- Implement rate increases, complete rate filings and annual rate certifications for state insurance departments
- Run studies on mainframe computer and processing it into useable data
- Develop and set assumptions and pricing of new products
- Develop actuarial memorandum for filing new products
- Other actuarial duties as assigned
Job Specific Skills
- Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking: Talking to others to convey information effectively.
- Reading Comprehension: Understanding context, written sentences, and paragraphs in work related documents.
- Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Time Management: Managing one's own time and the time of others.
- Monitoring: Monitoring/assessing performance of you, other individuals, and/or the organization to make improvements or take corrective action when needed.
- Interpersonal Skills: Utilizing strong interpersonal relationship skills to communicate and motivate employees to achieve results while working with others.
Experience and Education
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or Engineering
- Prefer Associate of Society of Actuaries Certification and Member of American Academy of Actuaries
- At least three years of relevant actuarial experience, five or more years’ experience preferred
- Health insurance experience required, supplemental products experience preferred
- Member of American Academy of Actuaries
- Strong written and oral communication skills
- Ability to be flexible, multitask, and shift priorities on a continuing basis while meeting deadlines
- Work both independently and within a team environment
- Proficiency in the operations of PC-based systems, including Microsoft Office software
- Ability to lift ten pounds