Actuarial Quantitative Analysts should be able to utilize sophisticated data analysis and techniques to measure and evaluate the risk for actuarial products. Design, analyze and test statistical data models in order to improve the knowledge base and business intelligence. Other responsibilities include:
- Provide support for product development, underwriting, and sales teams
- Analyze diverse data sets to produce new discoveries about insured individuals and apply this to actuarial results
- Execute root cause analysis and apply results to insurance pricing models
- Adept in developing new methodologies, testing processes, and statistical reports to help optimize the accuracy of complex data
- Develop actuarial policies and procedures, ensuring compliance
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates
- Collaborate with key stakeholders to help companies develop plans for new lines of business or improving existing business
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information
- Use statistical modeling and risk management strategies to develop financial projections, cost-benefit analyses, and insurance plans
- Compile large volumes of data and utilize specialized financial projection and statistical modeling software to prepare reports and contribute to an organization’s financial stability by informing business leaders of financial risks and long-term projections
- In insurance, gather information from sickness and mortality tables to determine the risks associated with individuals or businesses insured by a company. In finance, compile market data and projections related to pension plans and securities
- Assess data and derive insights. Build statistical models to determine financial predictions, conduct cost-benefit analyses, or develop risk projections based on a variety of factors
- Reporting and projecting for insurance plans and financial products. This includes identifying potential sources of risk and financial uncertainty, as well as identifying plans for mitigating risk and ensuring profitability based on the data collected and analyzed
- Present data and analysis directly to decision-makers in the organization. Consult with executive leadership and management to answer questions about particular forecasts and models
- Make recommendations to company leadership and provide advice on various options and scenarios
Preferred Education
- Bachelor’s degree in accounting, quantitative field statics, mathematics, actuarial science, finance, computer science, computer engineering, IT, or economics. Certified Actuary by the Casualty Actuarial Society or the Society of Actuaries
Required Skills
- Basic understanding of actuarial concepts (probability, theory of interest, life contingencies)
- Background working with probability and statistical modeling. Experience using data to develop forecasts and financial projections
- High level of skill in mathematics, probability, and statistics
- High level of data literacy, particularly to determine the accuracy and value of large data sets
- Support the change management of actuarial modeling platforms. Lead workstreams and drive projects to a successful completion
- Model development experience particularly in coding life and annuity actuarial projection models
- Demonstrated ability to lead technical projects and drive them to completion
- Experienced at data gathering, database design, creation, testing, and debugging
- Working knowledge of the Systems Development Life Cycle
- Familiarity with Agile methodologies
- Excellent written and verbal English communication skills
- Advanced quantitative and analytical skills, with strong detail orientation
- Proven organizational and project management skills, including excellent time management and the ability to handle multiple concurrent assignments
- Ability to work under pressure, allocate time efficiently and manage multiple priorities at once
Preferred Skills
- 2+ years experience in technologies such as ASP.NET, C#, XML, CSS
- Knowledge of SQL Server (Reporting Service, Integration Service, and Database service, and complex stored procedures)
- Advanced statistical processing programming (R, Matlab or Python)
- Experience in front end development skills (JavaScript, Ajax, CSS)
- Demonstrate basic knowledge of any BI Development Tool (e.g. QlikView)
- Excellent testing, debugging, and troubleshooting skills
- Serve as a subject matter expert on model development and actuarial change control processes
- Knowledge of financial forecasting and investing to determine the impact of risk on investing and profitability. Experience in insurance or financial services fields is a plus
- Strong communication and presentation skills to successfully collaborate with underwriters and financial managers to develop insurance plans and investment portfolios
