This position is responsible for providing critical analysis and internal reporting for companywide processes such as reserving, forecasting, portfolio analyses, and miscellaneous supporting initiatives. This position will support all business lines with visibility to actuarial group with holding company and is a direct report to the Manager of Pricing.
Principal Duties and Responsibilities:
Analyze data and asses risk through the use of statistical modeling
Provide data to support underwriting decision-making
Assist with analysis on project initiatives
Perform statistical data analysis in support of new product development
Utilize pricing and financial analysis software for data entry and output reporting
Gather and compile statistical data to develop report facilitating and supporting pricing, reinsurance reporting, and valuation function
Review and analyze aggregate actuarial studies for trends and recommendation of strategy
Required / Desired Knowledge, Experiences and Skills:
2 – 4 years related actuarial experience
Reserving principles including understanding the reserving process and financial impacts
Understanding of pricing principles used to bridge the gap between a true prospective view on profitability with a current and future financial year outlook
Clear communication skills which connect the technical outputs to marketing and distribution goals
Bachelor's degree (B.S.) in mathematics, actuarial science, economics, finance or similar degree from an accredited college or university required, or related degree
ACAS/FCAS attained, or in progress
Physical Working Environment:
While performing the duties of this job, the employee is required to stand; walk; sit for long periods of time; use of hands to grasp, handle, or feel; reach with hands and arms; finger dexterity; talk; hear. The employee is occasionally required to climb or balance and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception and ability to adjust focus.
The above statements are intended to describe the general nature of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties and skills required of employees so classified.
GMMI is an Equal Opportunity Employer M/F/Disability/Veteran
The following is the career advancement route for Actuarial Analyst positions, which can be used as a reference in future career path planning. As an Actuarial Analyst, it can be promoted into senior positions as an Actuary IV that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Actuarial Analyst. You can explore the career advancement for an Actuarial Analyst below and select your interested title to get hiring information.
If you are interested in becoming an Actuarial Analyst, you need to understand the job requirements and the detailed related responsibilities. Of course, a good educational background and an applicable major will also help in job hunting. Below are some tips on how to become an Actuarial Analyst for your reference.
Step 1: Understand the job description and responsibilities of an Accountant.
Quotes from people on Actuarial Analyst job description and responsibilities
Analysts are often also responsible for the monthly, quarterly, and annual reporting processes that need to be completed by the actuarial departments.
04/12/2022: Ogden, UT
They use statistical models to analyze data and assess risk.
01/23/2022: Chico, CA
They teach math concepts that are very specific to the actuarial field.
03/28/2022: Elyria, OH
Actuarial analysts use advanced statistics and modeling to understand data and assist actuaries.
04/08/2022: Provo, UT
Actuarial Analysts use statistics and mathematics to predict financial risks for companies.
03/11/2022: Austin, TX
Step 2: Knowing the best tips for becoming an Accountant can help you explore the needs of the position and prepare for the job-related knowledge well ahead of time.
Career tips from people on Actuarial Analyst jobs
Many actuaries earn an actuarial science degree, but some pursue other analytical majors, such as mathematics or statistics.
02/01/2022: Abilene, TX
Entry-level positions for Risk Analysts typically require.
02/17/2022: Mobile, AL
The best actuarial science schools are ones that have a good reputation, has accreditation, and has a large percentage of graduates finding employment after earning their degree.
01/26/2022: Rochester, MN
To earn the Associate of the Society of Actuaries designation, students must pass a specialized series of actuarial science exams.
04/03/2022: Huntsville, AL
Pass at least one actuarial exam.
02/04/2022: Los Angeles, CA
Step 3: View the best colleges and universities for Actuarial Analyst.
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