Actuary Job Description Samples

Results for the star of Actuary

Assistant Actuary

Description
Provide support to the Sr. VP of the actuarial department and take on a major role in rate development and rate management, filling and implementation, actuarial database oversight, compliance/regulatory data reporting, experience analysis, financial projections and profit studies.
Competencies
Assist in all aspects of pricing new products

  • Competitive analysis (rates, benefits and finanacials)
  • Claim cost development
  • PPO network fee schedule/discounts analysis
  • Pricing assumptions
  • Projections and profit studies
Monitor existing products and provide regular experience update summaries along with recommendations as needed for rate, and any other product changes as needed to maintain priced for profitability and loss ratios.
Prepare and manage rate filings including actuarial memorandums, experience exhibits, and rate pages.  Respond to objections and follow up on status of filings.
Maintain rate tables and provide rates and guidance to implementations.
Run periodic actuarial studies for experience and special requests as needed and summarize in routine reports.
Oversee and prepare the monthly actuarial database, balance to finance and use appropriate methods for allocations.
Oversight and responsibility for reporting to state and/or federal governments.

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Actuary

Job Description

Seeking an Actuary for a global healthcare company in the Pittsburgh, Pennsylvania area with 20,000 employees.


Overview:

Prepares, performs and analyzes actuarial studies and processes. Applies actuarial techniques and statistical analysis to at least one of several functions such as insurance premium and pricing development, claim trend analysis, experience studies, medical economics analysis, profitability analysis, wellness studies, predictive modeling, and claim reserving.


Responsibilities:

Prepare studies, analyses, and presentations to allow management to make informed business decisions for both internal and external customers. Establish quality control processes around all work, analysis, and models. Continually enhance their company and industry knowledge to apply appropriate reasonableness checks. Propose and develop improvements to existing processes that align with the goals and objectives of the department and company. Pull, summarize, and analyze data from internal databases. Perform all work in accordance with applicable laws, regulations, and actuarial professional standards. Perform ad hoc actuarial projects and other duties as assigned or requested. May assist with training new employees. Other tasks as required.

Education:

Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a closely related field is required for all levels. 5-7 years of relevant, progressive experience in the area of specialization.

Company Description

Sourcing Supply provides talent sourcing solutions including talent sourcing, name generation, sourcing operations and sourcing program development. We work with small businesses through Fortune 500 companies on their strategic hiring needs in information technology, information systems, finance, sales, healthcare and other key business areas.

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Senior Actuary Manager - Bermuda

Job Description

Senior Actuary Manager

Work with our client in Bermuda and you’ll spend your spare time on beautiful beaches, sailing and ship wreck diving and also building your career in one of the insurance and reinsurance capitals of the world. With no commute, year-round summer, great work life balance and no income tax this fantastic opportunity for a talented and experienced life and annuities actuary to make the right move for you.

About the opportunity

This is a life changing opportunity to lead on pricing, structuring and implementation of all new life reinsurance business at one of the most innovative and prestigious reinsurance firms in the world. Reporting directly to the CEO you’ll manage a team of up to five actuaries and have a genuine input into strategic decision making of the firm.

In this role you will lead on pricing of all new annuity, longevity and protection / mortality reinsurance business opportunities in Bermuda. This means you’ll play a major role in new business strategy and the profitability and risk implications of this. You’ll also lead the structuring of all reinsurance contracts and ensure they are compliant.

You will also be given a relocation package as well as full accommodation paid whilst here so fantastic earning potential.

About you

First and foremost, you’ll need to be a fully qualified Actuary and an expert in pricing and annuities. This is a role of gravitas, so you’ll be comfortable talking to senior stakeholders and have vast experience of managing an actuarial team. With a role of this seniority you’ll need integrity and diligence to ensure your teams professional standards and regulatory requirements are met.

About CML

Built on a perfect mix of experience, expertise and professionalism. At its founding in 2004, CML set out to become a different kind of recruitment firm. One run by professionals, for professionals.

Since then, CML has grown to become the trusted recruitment and immigration services partner to many of the Caribbean and offshore areas’ best known financial, insurance, legal and IT firms. Our mission is to help clients build great teams and to help candidates build great careers.

Company Description

Built on a perfect mix of experience, expertise and professionalism. At its founding in 2004, CML set out to become a different kind of recruitment firm. One run by professionals, for professionals.
Since then, CML has grown to become the trusted recruitment and immigration services partner to many of the Caribbean and offshore areas best known financial, insurance, legal and IT firms. Our mission is to help clients build great teams and to help candidates build great careers.

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Corporate Vice President & Actuary

New York Life Insurance Company ("New York Life" or "the company") is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterrey New York Life in Mexico.
New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2016 operating earnings of $1.954 billion. Total assets under management at year end 2016, with affiliates, totaled $538 billion. As of year-end 2016, New York Life's surplus was $23.336 billion. New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody's Aaa; Standard & Poor's AA+. (Source: Individual Third Party Ratings Report as of 8/17/16).
Financial strength, integrity and humanity-the values upon which New York Life was founded-have guided the company's decisions and actions for over 170 years.
LTC Valuation, Financial Reporting, Analysis and Planning
a. Set the strategic vision for Valuation, Financial Reporting, Analysis and Planning. A critical part of this vision is to develop highly transparent and actionable financial reporting and analysis under a First Principles approach. Present the vision to the senior management of NYL and get their buy in. Develop and implement the strategic vision.
b. Initiate, organize, and direct all valuation, financial reporting and analysis activities. Develop all appropriate reports, analysis and controls for these processes. Support the vision of highly transparent and actionable financial reporting and analysis by developing new reports and analytics. Partner with the administrators to get a deep understanding of how administration activities influence financial results. Enhance the management dashboards to provide more actionable information.
c. Perform all valuation, financial reporting and analysis activities including the following:
i.Monthly GAAP Policy and Claim Reserve valuation, monitoring of experience vs plan, dashboard reports monitoring administration processes and their impacts on financial results
ii.Quarterly GAAP, Statutory and Tax valuations, financial reporting and analysis, monitoring of experience vs plan, Source of Earnings analysis, business reviews with senior management
iii.All actuarial activities related to the production of the annual statement
iv.All actuarial activities relating to the development of the annual business plan
v. All control activities relating to the valuation, financial reporting and analysis
f. Partner with the NYL Prophet Team and manage the enhancement of valuation and projection systems.
g. Assist in quantifying impact of proposed changes and communicate results to a diverse audience of senior management, actuaries, investment professionals and general staff. The incumbent must identify and communicate key issues and important trends and support the analysis in Q&A sessions.
h. Manage employees supporting these activities.
This role requires collaboration with other departments including:
i. Accounting
ii. IT
iii. Claims
iv. Office of the Chief Actuary
v. Controller's Department
vi. NYL Prophet Team
This role has the potential for lateral and upward movement in the organization.

Requirements:

  • BA/BS is required.
  • Completion of specific and general continuing education requirements.
  • An FSA designation in the Society of Actuaries is essential. Candidate must be a member of the American Academy of Actuaries.
  • This position requires at least 8 years of previous actuarial experience. Experience with Long-Term Care is highly preferred.
  • Candidate must:
    • Possess strong individual accountability;
    • Possess strong leadership skills, judgment, organizational and prioritization skills;
    • Possess strong management skills to motivate and develop staff;
    • Possess strong technical and analytical skills.
    • Be a good self starter and innovator and a catalyst for change;
    • Possess high quality of work ethics while remaining committed to corporate values.
    • Have strong oral and written communication skills and the ability to influence management and staff;
    • Have ability to evaluate information and have strong analytical ability;
    • Be able to assimilate a large amount of information and analysis and identify those key facts or trends which may have a material impact on the business.
    • Possess ability to manage projects effectively.
    • Be proficient in Microsoft Word and Excel and various database platforms and modeling software.
    • Responsible for many critical financial reports for the Long-Term Care Division. Information produced in this unit is vital in LTC Executive decision-making.
SF:LI-JL1
SF:EF-JL1
EOE M/F/D/V
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* Based on revenue as reported by "Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 17, 2016. See for methodology.
Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company's long-term financial strength and stability and is presented on a consolidated basis of the company.
1. Operating earnings is the key measure use by management to track Company's profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US (GAAP), with certain adjustments Company believes to be appropriate as a measurement approach (non GAAP), primarily the removal of gains or losses on investments and related adjustments.
2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.
Corporate Vice President & Actuary

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Vice President - Actuary And Product Development

Summary

The Vice President, Actuary and Product Development is a vital role to the success of Southern Guaranty Insurance Company (SGIC), providing both technical and strategic vision, expertise and leadership to the organization.  SGIC’s mission is to deliver peace of mind to middle-market Americans through innovative insurance products and services with a best-in-class digital experience.  The employees of SGIC will value, above all else, the total satisfaction of its policyholders and producers, will embrace technology, challenge legacy, make a positive impact on the community, enjoy the company of one another and have fun changing the way people think about and use insurance.

The position reports to the President and has responsibility to develop, price, certify and manage the financial performance of the insurance portfolio of the company.  The ideal candidate is an expert in the design and pricing of Supplemental Accident and Health insurance, has the ability to nurture strong working relationships with peers in marketing, sales, operations, compliance and IT. The individual will have a passion for measurable product performance, innovation, challenging the industry status quo, teamwork and executing towards end objectives.

This role is an incredible opportunity for an innovative and entrepreneurial individual willing to immerse him or herself in the rapidly evolving economic environment driving the need for supplemental insurance products, and translate those needs into leading-edge solutions for the policyholders of SGIC. The candidate will have multiple opportunities to impact on the organization through the following duties and responsibilities. 

Essential Duties and
Responsibilities:

  • Develop, design, price and define underlying retention and capital allocation models for a portfolio of supplemental Accident and Health Products
  • Participate in the negotiation and ongoing management of reinsurance relationships
  • Install and monitor performance measures to continuously evaluate the effectiveness of the product portfolio, suggest and propagate enhancements as necessary and appropriate
  • Stay current on trends in the supplemental product space, translate those trends into actionable strategic and tactical objectives for the company
  • Ensure solutions dovetail with the company’s Service Delivery Roadmap to create a “value in use” differentiator for the company
  • Work closely with the VP Service Delivery and VP Marketing and Sales to ensure service, product and sales are in harmony to produce company sales and profit objectives while delivering a unique and compelling consumer experience.
  • Manage risk identification and risk mitigation strategies associated with the financial performance of the products
  • Evaluate third party pricing software/system and provide leadership in selection, development and configuration recommendations to shared-services IT leadership.
  • Be the champion and spokesperson to ensure the company and all strategic partners understand the product being deployed
  • Identify and interact with stakeholders to make sure their needs are being met
  • Contribute to a culture of innovation inside and outside of the company as a visionary capable of inspiring through presentation, demonstration and leading by example
  • Understand and plan for evolutionary paths 

Other
Responsibilities:

  • Adheres to the policies and procedures of the company
  • Maintains strict confidentiality of client, company, and personnel information
  • Demonstrates a strong commitment to the mission and values of the organization
  • Performs other duties as assigned

Supervisory
Responsibilities:
TBD

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Health Care Actuary

Job Description

The Health Care Actuary will provide health care actuarial services to support a wide range of programs at the Commonwealth Health Insurance Connector Authority (“Health Connector”), including the annual health plan certification process and calculation of state subsidies. The Actuary will report to the Chief Financial Officer and will provide advice and support to managers and program staff in several substantive areas. This is a full-time exempt position.

The Health Care Actuary will have responsibility for:

  • ConnectorCare Budget Model. ConnectorCare is a program administered by Massachusetts that provides state premium and cost sharing subsidies to eligible residents.
    • Assist the Finance Team with development and maintenance of the ConnectorCare financial model for forecasting and analytical reporting, in line with the annual Seal of Approval (SoA)  process
    • Analysis of enrollment and financial data to track spending and help improve forecasting
    • Assist with regular program updates to stakeholders
    • Identification of opportunities to improve Health Connector program cost structures and the development of analyses and documentation to advance strategic initiatives
  • Annual Seal of Approval (SoA) Process Development and Analysis. The SoA is the process through which the Health Connector certifies health plans for sale on its insurance exchange. Specific responsibilities in this area include:
    • Creation and modification of standardized health and dental plan designs
    • Review of market trends in plan design
    • Analysis of Health Connector product shelf
    • Review of non-standard plans, including but not limited to actuarial value, benefit design, “uniqueness” and market popularity
    • Development and review of other plan parameters, including essential health benefits and cost sharing reductions
    • Informal rate review
  • Student Health Insurance Program
    • Assist in the development of new plan designs
    • Review and assess validity of financial proposals/renewals from carriers
  • Financial analysis and modeling of any federal and state health care reform initiatives or proposals
  • Administer annual cost sharing reduction (CSR) reconciliation process
  • Support the determination and reconciliation of state-mandated benefits
  • Review and analysis of health plans to ensure they meet minimum coverage standards
  • Other
    • Peer review of other financial and analytical models

    • Assist other Finance team members with development of enrollment models and ongoing analysis for Advanced Premium Tax Credit (APTC) only members, unsubsidized members and small group members

    • Assistance with procurements

    • Coordination of analytical efforts across multiple teams within the Health Connector to improve data infrastructure and enhance analytical capabilities of the organization

    • Frequently interact with senior leadership, inside and outside the organization

    • Manage and thoroughly monitor strategic projects that have an impact inside and outside of finance

    • Performs other duties as needed and assigned

  • Manage and mentor one senior financial analyst


Qualifications:

  • Must have a minimum of 7-8 years of healthcare actuarial experience
  • Master’s degree preferred
  • Associate or Fellow of Society of Actuaries
  • Demonstrated knowledge in the following areas: healthcare reform, plan design, pricing, benchmarking, financial forecasting/analysis, reimbursement models, healthcare cost structure, and healthcare organizational functions
  • Ability to perform large complex data modeling and analysis
  • Advanced skills in Excel, Word and PowerPoint required; programming skills in SQL, SPSS or SAS preferred

  • Exceptional written and verbal communication skills
  • Comfortable presenting financial and programmatic information in a public setting

  • Familiarity with general accounting principles and financial statements is preferred
  • Ability to multi-task, assess priorities, operate in a flexible manner and demonstrate high productivity in a fast-paced and dynamic environment
  • Excellent leadership skills and commitment to teamwork

  • Ability to anticipate financial reporting, forecasting and budgeting issues, assess their implications, determine their impact and develop and implement an appropriate action plan

The Health Connector is an independent public authority serving as the Affordable Care Act (ACA)-compliant marketplace for the Commonwealth. The organization is charged with providing subsidized and unsubsidized health insurance to individuals and small employers. The Health Connector also oversees policy development related to health care reform under both state and federal laws, as well as conducting public education and outreach about health care reform and coverage opportunities. More information about the Health Connector and its programs is available at www.Mahealthconnector.org.

The Health Connector is an equal opportunity employer that values diversity as a vital characteristic of its work force. We consider qualified applicants without regard to race, color, religion, gender, sexual identity, gender identity, national origin or disability.

Salary:

Salary range is competitive; salary will be commensurate with experience.

Interested:

Send cover letter and resume to Connector-jobs@state.ma.us.

Please note:  Due to the requirement of chapter 268A of the Massachusetts General Laws, please complete the Applicant Disclosure Form and return with your application.

Link:  https://www.mahealthconnector.org/wp-content/uploads/ApplicantsDisclosureForm.pdf

Company Description

The Commonwealth Health Insurance Connector Authority (Health Connector) is an independent public authority serving as the Affordable Care Act (ACA)-compliant marketplace for the Commonwealth. The organization is charged with providing subsidized and unsubsidized health insurance to individuals and small employers. The Health Connector also oversees policy development related to health care reform under both state and federal laws, as well as conducting public education and outreach about health care reform and coverage opportunities.

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Actuary

Job Description

Actuary

Chicago, IL

Position Purpose: Conduct analysis, pricing and risk assessment to estimate financial outcomes.

  • Apply knowledge of mathematics, probability, statistics, principles of finance and business to calculate financial outcomes
  • Develop probability tables based on analysis of statistical data and other pertinent information
  • Review insurance plans and calculate required premium rates
  • Ensure cash reserves and liabilities enable payment of future benefits
  • Determines equitable basis for distributing money for insurance benefits
  • Participate in merger and acquisition analysis

Must Have:

Education/Experience:

  • Bachelor’s degree or in related field or equivalent experience.
  • 7+ years of actuarial experience.

License/Certification:

  • Associate of the Society of Actuaries (ASA); Member of American Academy of Actuaries

Preferred

  • Apply knowledge of mathematics, probability, statistics, principles of finance and business to calculate financial outcomes
  • Develop probability tables based on analysis of statistical data and other pertinent information
  • Review insurance plans and calculate required premium rates
  • Ensure cash reserves and liabilities enable payment of future benefits
  • Determines equitable basis for distributing money for insurance benefits
  • Participate in merger and acquisition analysis

Company Description

Great position with growth and stability.

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Manager, Actuarial Services

Joining this team means you'll be surrounded by colleagues who are dedicated to meeting their own high standards, to inspiring their teammates and to making a positive impact on under-insured and uninsured individuals. The group is a fast, agile, customer-focused organization with a commitment to implementing the latest technologies.
Our client serves more than 55 million managed care members through their portfolio of high-quality commercial and government sponsored healthcare programs. The broad offering of programs that they provide has helped them to build both capacity and capability to successfully navigate a changing healthcare environment, while continuing to offer better health outcomes at lower costs.
Position Purpose: Conduct analysis, pricing and risk assessment to estimate financial outcomes. Provide expertise and technical support in matters related to the successful and financially sounds operations of the company's health plan businesses.

Job Description:

  • Apply knowledge of mathematics, probability, statistics, principles of finance and business to calculate financial outcomes.
  • Negotiate capitation rates with State agencies
  • Oversee health plan experience, identify trends and recommend improvements
  • Research and identify new business opportunities
  • Work with Health Plans to ensure soundness of capitation rates
  • Work with State agencies to assess impact of program/policy changes

Qualifications:

Education/Experience:
  • Bachelor's degree or equivalent experience.
  • 5+ years of actuarial experience.
Licenses/Certifications:
  • Fellow or Associate of the Society of Actuaries. Member of American Academy of Actuaries
Our client offers options that allow you to do more than just plan for retirement. Their programs allow shared success with employees.
  • 401(k) with company match
  • Employee stock purchase plan
  • Training and Learning Opportunities/Tuition Reimbursement/Educational Assistance
  • On-site fitness center or discount at local fitness centers (most locations)
  • Discounts for select local and national products and services, including cell phones, computers and more
  • Other amenities may be available, but vary by location
Equal opportunity employer that is committed to diversity, and values the ways in which we are different. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or other characteristic protected by applicable law.

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Associate Pricing Actuary

Overview

The Associate Pricing Actuary is an ideal position for the new graduate ready to enter the Actuary field, putting their educational knowledge into technical practice. Our ideal candidate is an active learner with a desire to gain more hands-on experience as a Pricing Actuary.

Responsibilities

An active participant in the in pricing individual programs/accounts.

Assists in the development and adequacy of underlying and specific/aggregate excess loss picks and ROEs.

Creates pricing files and analysis then monitors regularly with underwriters for file effectiveness

Communicates results of analysis to underwriters and program managers.

Assists with monitoring and interpretation of program results

Works on actuarial research projects regarding pricing and planning.

Qualifications

BS, BA in actuarial science or mathematics preferred; ACAS or FCAS preferred

2-3 years' experience in a pricing atmosphere on large accounts resulting in familiarity with actuarial methods and practices (may include college level actuarial coursework)

Extensive knowledge of MS Excel, MS Access, SQL, and VBA preferred

Business knowledge should include basic accounting, finance, and insurance market place

Strong analytical and communication skills are a must

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Assistant Actuary (Valuation)

POSITION SUMMARY:
As part of the variable annuity valuation team within the Retirement Solutions Division, the incumbent will be responsible for supporting financial reporting and valuation projects, and managing the company s variable annuity reinsurance agreements. Specific responsibilities include:

  • Support statutory and GAAP financial reporting

  • Manage or support variable annuity valuation projects, such as building analytical tools or improving valuation processes

  • Consult and provide support on emerging industry regulations by participating in relevant industry groups and providing analysis and modeling support to understand impact on products and financials

  • Manage relationships with external reinsurers, maintaining reinsurance agreements and responding to questions and data requests

  • Manage captive reinsurance program, producing or reviewing financial statements and dashboard, and organizing operations meetings

  • Calculate reinsurance cash settlements for internal and external reinsurance agreements

FACTORS FOR SUCCESS:
-Bachelor degree in actuarial science, finance, mathematics or related field or equivalent work experience

  • ASA with 4-6 years of actuarial experience working towards FSA
    -Excellent communication and interpersonal skills

  • Ability to work independently and to manage long-term projects

  • Working knowledge of variable annuities with guarantee benefits a plus

  • Working knowledge of annuity reinsurance, US GAAP and AG43 reserves a plus

  • Advanced Excel, VBA, and database skills

  • Creativity and initiative in designing and improving valuation processes

  • Solid experience and strong skills in using actuarial modeling software; experience with MoSes a plus

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Benefits

Join the Pacific Life team and watch your career grow! We offer a competitive compensation and benefits package that includes: Competitive salary and bonus program Medical, dental, and vision as part our commitment in investing in the health and wellbeing of our employees Two retirement savings plans: 401k savings plan with company match and Company Retirement Contribution (company-paid) Generous vacation time and holiday pay And much more!

EEO Statement

Pacific Life Insurance Company is an Equal Opportunity /Affirmative Action Employer, M/F/D/V. If you are a qualified individual with a disability or a disabled veteran, you have the right to request an accommodation if you are unable or limited in your ability to use or access our career center as a result of your disability. To request an accommodation, contact a Human Resources Representative at Pacific Life Insurance Company.


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