Actuarial Manager Job Description
Actuarial Manager Duties & Responsibilities
To write an effective actuarial manager job description, begin by listing detailed duties, responsibilities and expectations. We have included actuarial manager job description templates that you can modify and use.
Sample responsibilities for this position include:
Actuarial Manager Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Actuarial Manager
List any licenses or certifications required by the position: PMP, CPA, JD, ASA, ACAS, UK, US, CIA
Education for Actuarial Manager
Typically a job would require a certain level of education.
Employers hiring for the actuarial manager job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, Education, Technical, Computer Science, Math, Applied Statistics
Skills for Actuarial Manager
Desired skills for actuarial manager include:
Desired experience for actuarial manager includes:
Actuarial Manager Examples
Actuarial Manager Job Description
- OData input and output formats
- OGovernance process for actuarial models including change management, version control
- OModel production process including updating model inputs, running models, determining whether production results are consistent with model updates
- OPreparedness for pending changes (PBA, GAAP)
- Conduct analysis, pricing and risk assessment to estimate financial outcomes
- Special Projects as may deemed necessary by the Valuation Actuary which may include Mergers & Acquisition type analyses, promo and conference pricing and simulations and others
- Develop periodic experience studies (expense, mortality, persistency, profitability, ) for the international subsidiaries
- Enhance existing Source of Earnings reporting and expand it to all international subsidiaries
- Review requirements extracted through source system reengineering and conduct Level 1 validation before review of the requirements by customer organization
- Drive requirements workshop with customer product management / actuarial SME(s) to gather, review, finalize and obtain sign off for business requirements
- Must be able to work well independently in a team environment
- Knowledge of the general insurance industry built up from at least 1 years of experience
- Fellow of the Society of Actuaries (or near fellow)
- Minimum of 2-4 years progressive work experience
- Working knowledge with SOX, MAR, Corporate Pricing and/or Valuation Standards, CGAAP/NAIC is a definite asset
- Strong interpersonal skills including ability to work with and influence management at various levels of the organization
Actuarial Manager Job Description
- Ensure effective control of models in order to maintain process transparency and regulatory compliance
- Leading project design-delivery for key business projects and oversights with the ability to translate pricing requirements and test new assumptions
- Driving improvement projects wherever required, primarily focusing on ensuring quality, accuracy and timeliness of existing regular reporting requirements
- Set-up pricing models following best practices of spreadsheet and model management
- Assist in presenting the results of pricing in various forums and to senior management teams to explain the pricing methods & rationales, competitive positioning and other pricing related details and take internal sign off on the final premium rates
- Assist in setting up processes for regular review of premium adequacy and actual vs expected analysis for key pricing assumptions and revision of rates when required
- Internal reporting of portfolio performance within the company and design action items
- Identify data extract requirements from the systems to be able to perform all pricing related analyses
- Provide input to strategic planning of the company using the portfolio performance study outputs
- Contribute and implement ideas on standardizing and streamlining the results production processes for continuous improvement
- Continually provide quality and timeliness of work upon requests to ensure customer needs are met
- Maintain good working relationships with customers through frequent communication and arrange monthly meeting with local entities
- Provide professional analytical support to local country’s actuaries
- Estimate effort on specific ad-hoc tasks and analyses, skill levels required, set schedules and recommend turnaround times considering end users’ delivery requirements
- Recommend and agree priorities with Local Entities
- At least 7 years financial services industry experience, including at least 1 years of managerial experience, and a Fellow of a recognized actuarial institute or equivalent
Actuarial Manager Job Description
- Communicate with underwriting to research and resolve issues quickly and escalate issues
- Advanced knowledge of medical claims data
- Ensure adequate documentations on all input data and production outputs for good quality control
- Set up libraries of standard and ad-hoc analysis templates to facilitate efficient production of results
- Ensure all input data are checked for accuracy and consistency and liaise with users to explain variances from prior period
- Ensure consistency in pricing and valuation results across basis
- Ensure quality and timely delivery of ad-hoc analysis, valuation and planning
- Plan and work closely with local entities to ensure quality submissions
- Ensure proper documentation of procedure and process
- Provide insightful commentary to highlight issues and observation on business
- Excellent customer focus and commitment to quality while still meeting deadlines
- At least ASA/AASP
- Knowledge of actuarial modeling including rating, and budgeting
- The incumbent contributes know-how in the area of insurance, along with a range of retail financial services in the markets served to optimize the business
- Actuarial exams are a plus or Investment or Accounting experience
- Experience with retirement products preferred
Actuarial Manager Job Description
- Drive operational planning sessions for the business to build out the delivery plan
- Partner with the business and the information architect to prioritize the work appropriately
- Build trusted partnership with business stakeholders and drive business enablement leveraging data
- Build talent within the team through coaching acquiring and growing talent
- Instill inspiration in project team by effectively communicating the big picture and clear plan to execute, build commitment and empower others, communicate with clarity, courage & timeliness
- Develops a high performing team (up to 8 direct reports including actuarial students)
- Sets expectations and priorities for life and annuities actuarial team within the Center of Excellence
- Works with actuarial subject matter experts to determine priorities related to pricing, reserving, valuation, and modeling for the life and annuities resources within the Center of Excellence
- Develops new and creative solutions to actuarial issues
- Conducts independent analysis and draws conclusions and make recommendations
- Basic knowledge of insurance products especially P & C experience
- Experience in the use of actuarial tools and software programs( like Emblem, ,Igloo)
- Partially qualified (near Associate) with min 5+ years of relevant experience in P & C Insurance
- Commitment to achieving FSA designation
- Highly competent in the use of actuarial tools and software programs(Use of Towers’ suite of pricing software (including Emblem, Classifier, Radar, Radar Live)
- Able to communicate in Japanese would be an asset
Actuarial Manager Job Description
- Responsible for incorporating metrics and benchmarks (both internal and external) in analyses to proactively identify and evaluate both leading and trailing indicators of Medicare costs that may affect economic and Medicare cost impact models
- Revenue forecasting overview
- Cross functional projects with data science, clinical outcomes, and analytics
- Well-organized with the ability to handle several projects/clients simultaneously
- Risk adjustment and predictive modeling experience a plus
- Drive and support recruiting strategy in partnership with ALDP Student Council and Campus Recruiting Partners
- Recruits, trains, develops and supervises analyst-level staff through direct or matrix reporting
- Providing effective support to the actuarial business teams either directly or indirectly through the coordination of various Platform, Global Technology or 3rd party providers
- Operating in a heavily matrixed environment, leveraging teams from across the business, platform and Global Technology
- Collaborating closely with the actuarial teams to document actuarial systems and processes and identify pain points and goals
- Need 2 Know training
- Management Development training
- Minimum of 5 years’ experience as an ASA or FSA
- Bachelor’s degree from an accredited college/university with a strong academic background in actuarial science, applied statistics, financial analysis, and insurance
- Degree holder with reasonable progress in actuarial professional qualification, preferably holder of Associate ship
- Experience in handling various product types is a plus