The Actuarial Associate supports various actuarial functions that include pricing, reserving, financial reporting, capital management & forecasting. They provide detailed analysis to standard, defined tasks. This role implements techniques which support Assurant operations in achieving its goals related to revenue and profitability targets. The Actuarial Associate demonstrates the ability to understand direction provided in project deliverables, time management, and development. This role is expected to also participate in the department’s exam and rotational programs, which provides the opportunity to gain experience in numerous areas of the Actuarial organization while also understanding all products included in Assurant’s product suite. The Actuarial Associate generally reports to the Supervisor or Manager of Actuarial.
Primary Job Accountabilities/Responsibilities
- Ability to review requirements and provide essential details for internal and external inquires and ad hoc requests as directed by manager.
- Demonstrates thorough understanding of data and systems, including inefficiencies, through analysis of trends. Reconciles data to source systems, including adjustments for manual processes.
- Gathers information from internal departments and complete reports and analysis as directed; solicits feedback on improvements to reporting and communications.
- Assists with collecting data and responding to inquiries from state insurance departments, auditors, and internal (finance, accounting, regulatory, IT, etc.) areas regarding business processes and gaps.
- Identifies system and data inefficiencies; implement resolutions as directed.
- Effectively support requests timely, ensuring with manager that requests are aligned with responsibilities.
- Implements solutions to translate financial projections into business metrics.
- Actively manages self-development. Participates in cross-training and knowledge. information sharing within team to accomplish goals.
- Takes actuarial exams in pursuit of professional designation
Basic Qualifications Required - Experience, Skills, and Knowledge
- Bachelor’s degree in Mathematics, Actuarial Science, or related field and a minimum of 3-6 exams completed.
- Minimum of 2-5 years of overall experience.
- Must be pursuing actuarial designation.
- Minimum of 2-3 years of progressive responsibilities and related experience in an actuarial role.
- Has intermediate level of understanding actuarial concepts, insurance product and industry knowledge.
- Intermediate proficiency in MS Office Applications including Excel, PowerPoint, Word, Outlook, SharePoint. Advanced to Expert proficiency to various data repository platforms (SAS/SQL/etc.).