Job Brief
As a Pricing Actuary, you will play a crucial role in analyzing statistical data related to mortality, accident, sickness, disability, and retirement rates. Your primary responsibility will be to construct probability tables to forecast risk and determine liability for future benefits. This position requires expertise in actuarial science and statistical modeling, along with strong analytical skills to assess insurance rates and necessary cash reserves for ensuring payment of future benefits.
Responsibilities
- Analyze complex statistical data to identify trends and patterns in mortality, morbidity, and other risk factors.
- Develop and maintain actuarial models to forecast liabilities and assess risk exposure.
- Construct probability tables to evaluate potential future payment obligations for insurance products.
- Determine and recommend appropriate pricing strategies for insurance products based on comprehensive data analysis.
- Collaborate with underwriting and finance teams to assess the adequacy of cash reserves required for future benefit payments.
- Prepare detailed reports and presentations to communicate findings and recommendations to stakeholders.
- Stay updated with industry trends, regulatory changes, and emerging risks that could impact pricing strategies.
- Support the development of new insurance products by providing actuarial insights and pricing assessments.
Requirements
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field; advanced degree preferred.
- Professional actuarial certification (e.g., ASA, FSA, or equivalent) is highly desirable.
- Proven experience as an actuary, preferably in pricing or risk management within the insurance industry.
- Strong proficiency in statistical software and tools such as SAS, R, or Python for data analysis.
- Solid understanding of actuarial principles, methodologies, and regulatory guidelines.
- Exceptional analytical and problem-solving skills, with a keen attention to detail.
- Excellent communication and presentation skills to convey complex information clearly to non-technical stakeholders.
- Ability to work collaboratively in a team environment and manage multiple projects effectively.
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