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Senior Actuary

Des Moines, IA | Full Time
20 Days Ago

Job Description

Pharmacists Mutual has an opening for a Senior Actuary. This role will apply analytical skills and actuarial methods to quantify risk and financial consequences. Assists Chief Actuary with identification of financial inefficiencies and applies problem-solving skills to optimize the use of member resources.

Senior Actuary

  • Assist Chief Actuary in identifying financial inefficiencies and developing actuarial solutions to risk quantification issues.
  • Utilize actuarial methods to analyze financial information.
  • Provide recommendations resulting from actuarial analysis.
  • Develop outcomes which optimize member experiences.
  • Train, mentor and coach others in actuarial skills and methods.

Essential Functions

Essential functions may include, but are not limited to the following:

  • Designs, develops, and maintains rate and pricing models to optimize competitive advantage and support corporate objectives.
  • Coordinates Catastrophe Modeling efforts including data compilation, validation, and presentation.
  • Completes data requests related to reinsurance renewal efforts.
  • Maintains and updates ceded premium allocation models to support internal financial statements.
  • Develops and implements cash projection analysis.
  • Coordinates Capital Modeling efforts to support Enterprise Risk Management objectives.
  • Assists Chief Actuary with development of reserving models and analysis of company booked reserves.
  • Completes other actuarial studies as assigned.
  • Ability to apply theoretical solutions to real-world problems.

Knowledge, Skills and Abilities

  • Knowledge of PhMIC products and pricing.
  • Understand principles and practices of insurance underwriting.
  • Interpret premium algorithms and coverage nuances.
  • General understanding of insurance accounting and Company financial statements.
  • Communicate effectively with others (oral and written).
  • Analyze complex issues and make critical decisions.
  • Maintain records, prepare reports and conduct correspondence related to the work.
  • Interpret and apply laws, rules and regulations, as well as complex policy and contract coverage.
  • Obtain and use sensitive information discreetly and objectively, both internal and external.
  • Determine when to escalate concerns to the appropriate level of management.
  • Follow oral and written directions.
  • Correct English usage, spelling, grammar, vocabulary and punctuation.
  • Work effectively with others in a team environment.
  • Contribute effectively to the accomplishment of team or work unit goals, objectives and activities.
  • Establish and maintain effective working relationships with those contacted in the course of work.
  • Excellent customer service skills.
  • Ability to organize and prioritize work.
  • Work independently and demonstrate drive and initiative.
  • Ability to handle multiple tasks at once.
  • Meet definite deadlines and deal with pressure situations.
  • Collect, interpret, and input data efficiently and accurately.
  • Use computer and related software effectively.
  • Adhere to the relevant standards of practice and professional conduct as promulgated by the American Academy of Actuaries and the Casualty Actuarial Society.

Experience and Education Qualifications

Senior Actuary

  • Bachelor's degree and 8 years of related experience; or
  • Master's Degree and 5 years of related experience

Special Requirements, Licenses and Certificates

  • One of the following industry related certifications: ACAS(Associate of the Casualty Actuarial Society) designation or ASA (Associate of the Society of Actuaries) credential in General Insurance, or FCAS(Fellow of the Casualty Actuarial Society) designation or FSA (Fellow of the Society of Actuaries) credential in General Insurance.

*Adherence to the Code of Professional Conduct of the Casualty Actuarial Society (CAS) is expected even if employee is not a member of CAS.

Skills for Senior Actuary

The job skills required for Senior Actuary include Actuarial, Analysis, Reinsurance, Problem Solving, Analytical Skills,and Communicates Effectively etc. Having related job skills and expertise will give you an advantage when applying to be a Senior Actuary. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Senior Actuary. Select any job title you are interested in and start to search job requirements.

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Career Path for Senior Actuary

The following is the career advancement route for Senior Actuary positions, which can be used as a reference in future career path planning. As a Senior Actuary, 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 Senior Actuary. You can explore the career advancement for a Senior Actuary below and select your interested title to get hiring information.