Actuary Job Description Template

Use this Actuary job description template to advertise the open roles for free using Longlist.io. You can use this template as a starting point, modify the requirements according the needs of your organization or the client you are hiring for.

Actuary Job Description Template

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Job Brief

We are looking for an Actuary to conduct complex risk analyses and predict the outcome of potential investments.

Responsibilities

  • Conduct risk assessments
  • Build predictive models to accurately analyze potential outcomes
  • Recommend investments with the lowest risk and the highest profits possible
  • Calculate total assets and liabilities
  • Determine financial status after an investment
  • Compare actual ROIs with forecasts
  • Monitor market trends and identify opportunities for new investments and funds
  • Develop guides and policies on how to avoid high-risk investments and the losses associated with them
  • Keep records of payments, fundings and underwriting policies

Requirements

  • Work experience as an Actuary, Investment Analyst or similar position
  • In-depth understanding of how to use actuarial formulas and tables
  • Hands-on experience with statistical packages like SPSS
  • Good knowledge of insurance legislation
  • Excellent numerical and analytical skills
  • Attention to detail
  • BSc in Statistics, Mathematics or Finance
  • Additional certification in Risk Management or being successful in actuary exams is a plus

What does Actuary do?

On a day-to-day basis, an actuary typically performs various tasks related to analyzing and managing risk for insurance companies, financial institutions, or other organizations. Some of the common activities include:

  1. Collecting and analyzing data: Actuaries gather and evaluate large amounts of data to assess potential risks and make predictions about the future. This involves examining historical trends, performing statistical analysis, and developing mathematical models to understand the likelihood and impact of events.

  2. Pricing insurance policies: Actuaries determine the appropriate premium rates for insurance policies by assessing the risk associated with various factors, such as age, health, driving record, or property value. They consider the potential costs of claims or losses and set prices that ensure the company remains solvent while offering competitive rates to customers.

  3. Assessing financial risks: Actuaries evaluate the financial risks faced by organizations, such as investment risk, credit risk, or operational risk. They develop strategies to manage these risks effectively, often through the use of mathematical models, simulations, or stress tests.

  4. Designing and managing pension plans: Actuaries play a critical role in designing and managing pension plans and other retirement benefit programs. They calculate future liabilities, recommend funding strategies, and evaluate the financial health of pension funds to ensure the promised benefits can be met.

  5. Communicating findings and recommendations: Actuaries often need to explain complex concepts and findings to non-technical stakeholders. They prepare reports, presentations, and recommendations to help decision-makers understand potential risks, make informed decisions, or comply with regulatory requirements.

  6. Monitoring and updating models: Actuaries continuously monitor and update their models based on new data and emerging trends. They stay informed about changes in legislation, market conditions, or industry developments that might affect their calculations or risk assessments.

Overall, the work of an actuary involves a combination of quantitative analysis, financial modeling, and strategic thinking to help organizations manage and mitigate risk.

Actuary Job Description Examples

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Description

The Actuary, General provides actuarial support across a broad range of actuarial and business needs for specific product lines. The Actuary, General works on problems of diverse scope and complexity ranging from moderate to substantial...

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Associate Actuary - Annuity Valuation• Ameritas

At Ameritas, our mission is Fulfilling Life. We do that in many ways, but especially by helping people invest in themselves by offering trusted financial products and advice. Because we believe everyone should be happy, healthy, and financially secure, we work hard to provide trusted financial products and valued guidance, including individual life and disability insurance, employee benefits......

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GRM Actuarial Reserving is seeking an Actuary to be responsible for implementing various actuarial analyses, programs, and procedures to support the formulation of reserving recommendations regarding Personal and Business Lines products. This person will communicate findings to actuaries and senior management and provide support to actuaries by performing reserve analysis within designated... b...

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