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Actuarial Analyst Job Description

Review this Actuarial Analyst job description for a reference when building your resume. Review the qualifications and requirements listed to get an understanding of what you need to include on your resume for what employers would look for in this field. Additional strategies for this can be found here. 

SUMMARY:

The Actuarial Analyst is responsible for the analysis of premium and loss experience. This includes the development, implementation and maintenance of financial reporting systems, as well as the support of the pricing, policy underwriting and claims administration processes.

This position requires an individual with a strong knowledge of actuarial science, including the application of financial principles, data analysis, and statistics. The Actuarial Analyst must have a demonstrated ability to develop mathematical models to test hypotheses and solve practical problems. They should be able to work independently and with others on complex projects. This individual must also be able to communicate effectively with clients, colleagues, and management. 

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FUNCTIONAL DUTIES:

• Analyze and interpret data to perform actuarial calculations, including the application of statistical techniques to determine the expected values of future cash flows and their variability.

• Perform financial analysis to assess risk, measure value, and determine cost of capital.

• Apply mathematical and statistical concepts to relevant problems in the field such as risk management, pricing investments, evaluating business strategies, employee benefits and insurance coverage, retirement plans, and tax planning.

• Prepare reports summarizing findings, recommendations and conclusions that are used by management in making decisions about insurance company operations.

REQUIREMENTS:

-BA/BS in Mathematics, Statistics, or related field

-A master’s degree in actuarial science or business administration is preferred.

-Experience using Microsoft Excel (including advanced functions) and/or R

-Familiarity with Microsoft Office and SQL DBMS

-Advanced understanding of statistical analysis techniques and modeling methods

-Experience in data analysis and financial reporting is preferred

-Strong communication skills (verbal, written)

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