Job Summary:

The Insurance Actuary will analyze statistical data such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. The Insurance Actuary may ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

Supervisory Responsibilities:

• None.

Duties/Responsibilities:

• Designs, reviews, and helps administer insurance, annuity and pension plans, determining financial soundness and calculating premiums. Ascertains premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
• Analyzes statistical information to estimate mortality, accident, sickness, disability, and retirement rates. Determines or helps determine company policy, and explains complex technical matters to company executives, government officials, shareholders, policyholders, and the public.
• Constructs probability tables for events such as fires, natural disasters, and unemployment based on analysis of statistical data and other pertinent information.
• Determines equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.

Required Skills/Abilities:

• Strong mathematical skills, and a deep understanding of risk management.
• Excellent problem-solving skills.
• Ability to translate actuarial research into written recommendations.

Education and Experience:

• Bachelors degree in actuarial science, mathematics, statistics, or business required.
• ACAS designation plus five years of experience or FCAS designation required.

Physical Requirements:

• Prolonged periods of sitting at a desk and working on a computer.
• Must be able to lift up to 15 pounds at times.