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Life, Annuity & Accident, Actuarial Associate
Location: Des Moines, IA
Education Requirements: Bachelor’s degree with at least a minor in mathematics, statistics, computer science, or equivalent business experience.
Other Requirements: Include:
- General Skills:
- Excellent interpersonal skills. Ability to communicate technical and complex topics in a way that is understandable to those less experienced.
- Effective written and verbal communicate skills.
- Strong actuarial skills on pricing, experience analysis, data management and reporting.
- Strong knowledge of insurance products, operations and existing regulations, awareness of legal, political, economic and environmental impacts on the insurance products and operations.
- Strong aptitude for understanding technical solutions and learning/utilizing tools. Intermediate knowledge of MS Office Suite (Excel, Word and PowerPoint).
- High ability to solve problems and work under pressure.
- Strong analytical and critical thinking skills.
- Strong attention to detail and problem-solving skills.
- 3 years professional experience in an actuarial department.
- Pricing background is preferred.
Salary Range: Negotiable
Description: Our Client, an A.M. Best Excellent Rated Life & Health Insurance Group, seeks a Life, Annuity & Accident, Actuarial Associate. The insurers, encompassed within this Group, distribute and sell a variety of products through various distribution channels and are licensed in 49 states plus the District of Columbia. Job duties and responsibilities include:
- Designs, develops and implements enhanced procedures and tools that will create more efficient and accurate results as well as improve current modeling techniques for the department.
- Builds financial projection model, including initialization for the current planning period, gathering data from multiple sources, verifying accuracy of data, and ensuring all inputs are updated, linkages are correct, and formulas are appropriate.
- Ensures completeness, accuracy, and appropriateness of all insurance data used in the production of outputs. Participates in the projection and analysis of product profitability.
- Calculates premium rates, dividends, and reserves for existing plans of moderate complexity. Participates in the preparation of annual statements, calculation of tax related issues, and drafting of business coverage forms. May provide technical guidance to less experienced professionals and technicians.
- Develops, calculates and checks policy values; develops, extends and maintains profit studies, forfeiture values, reserve programs, rate files, and procedures; calculates profit studies, net premiums, reserves and non-forfeiture values and assists in preparing actuarial portion of financial reports and tax returns.
- Assists in preparing the actuarial portions of the financial statements and/or the federal income tax returns.