Job Title: Junior Actuarial Analyst
Job Description:
The Junior Actuarial Analyst will provide vital support to senior analysts and managers within the actuarial team. This role involves utilizing actuarial models to identify, analyze, and address business challenges while delivering effective solutions.
Key Responsibilities:
Model Deployment and Testing:
Assist in planning and delivering system changes by engaging with users to gather requirements and collaborating with the team to design solutions. Conduct impact and sensitivity analyses to forecast profitability and policy growth associated with pricing changes. Document deployment processes and testing strategies to ensure successful implementation.
Data Collection & Analysis:
Analyze data from various sources to identify trends and potential impacts on the business. Extract, verify, and reconcile data for actuarial models to ensure accuracy and completeness, aligning definitions and assumptions with problem statements.
Actuarial Modeling:
Contribute to the development, maintenance, and implementation of actuarial models that accurately reflect business realities. Document models clearly, outlining their scope, definitions, data, and assumptions, while ensuring processes are in place to minimize risks of incorrect modeling.
Improvement & Innovation:
Identify and address shortcomings in existing processes, systems, and procedures. Stay updated on industry developments and proactively assist in the creation of innovative solutions. Share insights on actuarial techniques to improve efficiencies across the business.
Business Requirements Identification:
Support the collection of business requirements using various methods, ensuring documentation is comprehensive and aligned with experience assumptions. Contribute to the implementation of the actuarial control cycle, encompassing development, deployment, and monitoring.
Stakeholder Engagement:
Facilitate internal stakeholder communication to keep relevant teams informed of project outcomes. Engage with external stakeholders to develop appropriate solutions for product development and maintain service level standards.
Insights and Reporting:
Prepare data and analytics reports, assisting in the creation and presentation of insights and recommendations to stakeholders. Ensure the accuracy of monitoring processes and validate against credible data sources.
Operational Compliance:
Understand and adhere to organizational policies, procedures, and relevant regulatory codes to ensure compliance in all work. Maintain professional integrity as per industry standards.
Performance Management:
Prioritize workflow to meet quality and timeliness standards, utilizing performance management systems to enhance personal performance.
Required Qualifications:
- Bachelors degree in Actuarial Science or a related field.
- Progress toward actuarial qualifications is advantageous.
- Experience in actuarial work within financial services is a plus.
- Familiarity with actuarial and statistical software, including advanced Microsoft Office and Prophet.
Skills and Competencies:
- Strong analytical and numerical skills.
- Excellent data collection and analysis capabilities.
- Attention to detail and compliance management.
- Effective verbal and written communication skills.
- Ability to work collaboratively and engage with stakeholders effectively.
This role offers an excellent opportunity for individuals looking to develop their careers in actuarial science within a supportive and innovative environment.
