Assistant Actuary

Overview

Responsibilities

• Develops and modifies complex technical programs, applying actuarial measures and methods to analyze products, calculate reserves, project financial results and/or assess profitability and risk.
• Analyzes output and reviews data for reasonableness and accuracy.
• Supports other departments in understanding technical concepts and improving their operational efficiency.
• Develops knowledge of W&SFG products and markets, specifically how product features work and which features appeal to which segment and why. Develops knowledge of each business unit's goals and perspectives.
• Acquires understanding of goals and perspectives of Insurance Operations, Information Technology, Legal, Compliance, Corporate Accounting and Planning and various state insurance departments.
• Acquires knowledge of core actuarial and accounting principles such as STAT and GAAP valuation concepts, DAC amortization and RBC.
• Assists in analyzing contract holder experience, expense and asset data and in setting associated assumptions for product development, cash flow testing, financial projections, and/or valuation/reserve calculation.
• Assists in profit and risk analyses, including cash flow testing. Assists with product feature design.
• Provides precise and detailed specifications to Information Systems and product implementation areas for new or modified products and/or new financial reporting systems.
• Assists in preparing list of criteria to test administrative and illustration systems.
• Assists in preparing actuarial memorandums required for new product filings, valuation and reserve adequacy analysis, and in responding to insurance department queries.
• Acquires an in-depth understanding about the topic to which a particular project relates, in order to apply appropriate methods and analysis to this and future related projects.
• Learns the standards declared by the Actuarial Standards Board and other applicable bodies (SEC, Accounting Standards Board, etc.) as well as the requirements of state and federal regulations.
• Documents projects in writing in accordance with established guidelines.
• Performs other duties as assigned.
• Complies with all policies and standards.

Qualifications

• Bachelor's Degree In mathematics or related field. - Required
• Either:Completion of Society of Actuaries examinations P, FM, FAM, ALTAM, SRM and PA; orEquivalent experience as demonstrated by three years' tenure in the W&SFG Actuarial Analyst position; currently in good standing with the exam program; and a most recent performance rating and continued current performance of at least Consistently Meets and Sometimes Exceeds. - Required
• Validation by Education Experience (VEE): completion of the 3 VEE requirements of the Society of Actuaries. - Required
• The Pre-Actuarial Foundations and Actuarial Science Foundations modules. - Required
• Proven experience applying appropriate actuarial principles to work-related problems. - Required
• Proven experience in exercising good judgment, problem-solving skills and time management skills on actuarial projects. - Required
• Experienced in actuarial software packages such as those used for valuation (ARCVal), experience studies (ARCBase) and/or pricing and projections (MG-ALFA). - Required
• Demonstrated experience with the companies' administrative systems: how they work and how to extract data from them. - Preferred
• Must provide examples from work experience of maintaining a high degree of accuracy associated with high volumes of work and/or multiple duties. - Required
• Demonstrated mastery of the responsibilities and competencies of the Actuarial Analyst position. - Required
• Proven strong analytical skills, including demonstrated experience identifying and quantifying problems and providing effective resolutions. - Required
• Demonstrated excellent verbal and written communication skills with the ability to successfully interpret and communicate complex business needs and recommend any course of action, with internal and external partners in a clear, focused and concise manner. - Required
• Demonstrated ability to prepare correspondence, reports and forms. - Required
• Demonstrated ability to work independently, maintaining self-motivation, under limited supervision. - Required
• Proficient in Microsoft Office products. - Required
• Actively pursuing FSA designation by attempting a Society of Actuaries exam at each sitting. Upon Hire - Required
• Passes at least 50% of the exams attempted. Upon Hire - Required
• Adheres to all other actuarial exam and other administrative rules. Upon Hire - Required

• Works in an office setting and remains in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
• Requires the ability to verbally communicate and exchange accurate information to customers and associates on a regular basis.
• Requires visual acuity to read and interpret a variety of correspondence, procedures, reports and forms via paper and electronic documents, visual inspection involving small defects; small parts, and/or operation of machinery (including inspection); using measurement devices continuously. Visual acuity is required to determine accuracy, neatness, and thoroughness of work assigned.
• Requires the ability to prepare written correspondence, reports and forms using prescribed formats and conforming to rules of punctuation, grammar, diction, and style on a regular basis.
• Requires the ability to apply principles of logical thinking to define problems, collect data, establish facts, and draw valid conclusions
• Performs substantial movement of wrists, hands, and fingers for continuous computer work.
• Extended hours required during peak workloads or special projects/events.

• None