Actuary Job Description

actuary job description includes a detailed overview of the key requirements, duties, responsibilities, and skills for this role.

Last update : July 14, 2023

Actuary Job Description

An actuary is a person who uses mathematical and statistical methods to predict future events with a high level of accuracy, and to advise others regarding the potential outcome of future events.

Actuaries are employed by insurers, corporations and the government.

An actuary solves actuarial problems, which are problems with two goal variables, are attempting to maximize an expected value (or minimize the expected loss), and involves optimization problems.

The two types of problems actuaries solve include: a) Risk problemsb) Insurance problems.

Job Brief:

We’re looking for an Actuary to join our team! We need someone who is quantitative and analytical, with strong problem-solving skills. If you’re interested in a career in actuarial science, this is the perfect opportunity for you!

Actuary Duties:

  • Analysis of complex insurance data: pricing, loss costs, risk
  • Eliminate ambiguity surrounding insurance data
  • Prepare and present actuarial reports
  • Identify and implement process and system improvements
  • Perform complex calculations
  • Perform advanced analysis
  • Other related duties as assigned

Actuary Responsibilities:

  • Understand principal drivers and factors that influence the profitability and cost of defined benefit retirement plans
  • Solve actuarial problems, using available tools, systems and models, and present solutions to senior leadership and business partners
  • Propose changes to benefit programs based on research findings and changes in plan sponsor and plan participant needs
  • Communicate with internal and external customers on actuarial analysis and solutions, ensure their understanding, and document results
  • Work with the actuarial team and senior management to create, implement, and administer the defined contribution retirement plan
  • Conduct data analytics, reporting, and forecasting
  • Provide guidance and technical guidance as needed

Requirements And Skills:

  • Practitioner’s license in one or more of the following states: Missouri, Illinois, Kansas, or Nebraska
  • 3+ years actuarial experience
  • Strong knowledge of actuarial principles and techniques required
  • Excellent understanding of various actuarial products, including life, accident, health

At Company Name, we are an Equal Opportunity Employer. We believe in building a diverse and inclusive team and encourage applications from all races, religions, national origins, genders, sexual orientations, gender identities, gender expressions, and ages. We are also committed to supporting veterans and individuals with disabilities.

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