Actuary Job Description: Top Duties and Qualifications

Your job description is the first touchpoint between your company and your new hire. With millions of people searching for jobs on Indeed each month, a great job description can help you attract the most qualified candidates to your open position. To get you started, here are some tips for creating an effective job description.

Build a Job Description

Actuary job title

A great job title typically includes a general term, level of experience and any special requirements. The general term will optimise your job title to show up in a general search for jobs of the same nature. The level of experience will help you attract the most qualified applicants by outlining the amount of responsibility and prior knowledge required. And if your position is specialised, consider including the specialisation in the job title as well. But avoid using internal titles, abbreviations or acronyms to make sure people understand what your job posting is before clicking.

  • Actuary
  • Entry-Level Actuary
  • Benefits Actuary
  • Actuary (Full-Time)
  • Insurance Actuary
Build a Job Description

Actuary Job Description Examples:

 

Example 1

: Are you a qualified or nearly qualified Actuary with proven portfolio management and Pricing experience? If you are passionate about growing your skills and career within one of the largest property & casualty insurers in the world, then we would love to hear from you! CHUBB Europe CE/MENA P&C is one of four main divisions of CHUBB European Group (CEG). The role consists of leading Continental Europe, Middle East and Africa (CE/MENA) Property pricing providing technical support to the underwriting teams and assisting the Head of Division in executing key priorities and strategic projects. There is significant flexibility about where the role holder is based and could include occasional travel to other parts of CHUBB’s European network, particularly the largest European operations in France, Germany, Italy, Spain, Benelux and London (COVID Permitting). KEY Responsibilities: Responsible for the completion of CE/MENA Property portfolio reviews, planning, budgeting and forecasting Working with the business/underwriters to help them review portfolio performance and help the business formulate strategies to improve the underwriting performance Case pricing for risks/binders with significant amounts of historic claims' activity Exposure rating and benchmarking business opportunities where sufficient data is not available Lead the parameterization of Non-CAT Premium Risk for CE/MENA Property Portfolio Management and Risk Selection through the application of technical models Rate Change Monitoring for renewed business, including providing commentary Building and maintaining the rating engines / raters with the help and feedback from the UWs Assist with completion of both external and internal reinsurance submissions Ensure communication and knowledge sharing across the wider Actuarial community, particularly with Reserving and CAT teams There may be direct or indirect management responsibility for junior staff, in particular those covering CE/MENA Property pricing. Qualifications: Required Skills & Experience Highly motivated, great teammate, able to deal with different professional backgrounds and adaptable to a fast paced environment. Experience in case pricing and portfolio management activities. Data management skills and can deliver clear and effective communication. Draft letters and memos for a broad range of audiences and can explain complex topics in a clear and concise way. Ability to utilise systems and software programs needed to carry out the of the role. (Microsoft Office, VBA, Programming skills, Experience of ResQ, Radar, R, Python or other programming languages would be a plus). Loss Modelling and Statistical Analysis skills Professional actuarial qualification or in the process of being qualified WE OFFER IN Return Competitive salary, annual bonus & pension scheme, 25 days annual leave plus ability to purchase 5 additional days. Private Medical cover, Employee Share Purchase Plan, Life Assurance, Subsidised gym membership, Employee resource groups,1 day annual Charitable leave, Cycle to work scheme, Employee Assistance program. Integrity. Client FOCUS. Respect. Excellence. Teamwork Our core values dictate how we live and work. We’re an ethical and honest company that’s wholly committed to its clients. A business that’s engaged in mutual trust and respect for its employees and partners. A place where colleagues perform at the highest levels. And a working environment that’s collaborative and supportive. Diversity & Inclusion. At Chubb, we consider our people our chief competitive advantage and as such we treat colleagues, candidates, clients, and business partners with equality, fairness and respect, regardless of their age, disability, race, religion or belief, gender, sexual orientation, marital status or family circumstances. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

Example 2

Line of service Actuarial Programme Graduate Programme Specialism Actuarial Services Application deadline 7/5/2021 3:00:00 AM Job ID 223545WD All Job Locations London Job description As one of the UK’s largest Actuarial practices we're market leaders providing insights and solutions for all businesses that face significant and complex risks. We play an important role in supporting clients through uncertain times. Actuaries analyse how future events could affect businesses and we calculate the impact these event could have on our clients. Using our risk and analytical skills and predictive insights, we calculate the impact of changing demographics or legislation on pension schemes, the effects that changes in financial markets have on different organisations, or how likely a business is to be hit by an earthquake. You’ll learn how to use complex financial and statistical theories to weigh up the risks and estimate the odds of what might happen. Just as important, you’ll develop a flair for presenting your findings in simple, easy‑to‑understand language. What’s more, early client exposure will broaden your experience. Business area In Actuarial Services you’ll work with clients from the insurance industry (both life and general insurance), but also from the banking sector (retail and investment), the healthcare sector, the public sector, as well as corporate clients from the non‑financial services sector like energy and utility providers. What you'll do Your advice could cover solvency, reserving, economic capital, risk management, mergers and acquisitions, company restructuring and de‑risking, financial modelling, underwriting, new legislation, the viability of new products and the efficiency of claims or reporting processes. Programme Our graduate training programme is underpinned by a development framework that broadens and deepens your knowledge. You'll learn from hands-on coaching and an outstanding variety of work, picking up business, personal and technical skills you can use across the network, and throughout your career. What you'll need You'll need to have or be on course for a 2.1 degree or above in any subject. We determine whether you're on course for a 2.1 based on the grades you achieved in your last completed year of academic study. Although we do not look for any specific degree or A Level subjects, please note that the Institute and Faculty of Actuaries (IFoA) offers some guidance to those considering a career as an Actuary: . The IFoA qualification syllabus is rigorous and the examinations are highly demanding, so they recommend applicants have a maths-based degree. If you do not have a maths-based degree, they recommend you take one of their non-member exams before starting your IFoA to prepare you for the IFoA qualification process. What you'll gain During our five year programme, you’ll study with the Institute and Faculty of Actuaries. Once you’ve completed the exams, you’ll then be fully qualified and a Fellow of the Institute of Actuaries. When to apply The deadline for applications is 4 July 2021 The deadline for the Game Based Assessment is 5 July 2021 The deadline for the Video Interview is 12 July 2021 We’ll let you know the outcome of your application w/c 19 July 2021 Assessment centres and Final stage assessments will be held w/c 26 July 2021 Find out more Our people Training and development Our events Do you need a work permit? Please take some time to confirm your eligibility for the role. We welcome applications from all candidates but there are restrictions to some areas of our business and some points you should note on our website. Please note that PwC is unable to sponsor any candidates for some roles as the Home Office's eligibility criteria will not be satisfied. For a list of these roles, please review the 'Important information' section of the work permit page on our website. Diversity Valuing Difference. Driving Inclusion We work in a changing world which offers great opportunities for people with diverse backgrounds and experiences. We seek to attract and employ the best people from the widest talent pool because creating value through diversity is what makes us strong as a business, enabling us to solve important problems and deliver value to our clients. We encourage an inclusive culture where people can be themselves, are valued for their strengths and are empowered to be the best they can be. As an organisation with an increasingly agile workforce, we also support different ways of working offering flexible working arrangements. Learn more here about our work to support an inclusive culture.

Example 3

As one of the UK’s largest Actuarial practices we're market leaders providing insights and solutions for all businesses that face significant and complex risks. We play an important role in supporting clients through uncertain times. Actuaries analyse how future events could affect businesses and we calculate the impact these event could have on our clients. Using our risk and analytical skills and predictive insights, we calculate the impact of changing demographics or legislation on pension schemes, the effects that changes in financial markets have on different organisations, or how likely a business is to be hit by an earthquake. You’ll learn how to use complex financial and statistical theories to weigh up the risks and estimate the odds of what might happen. Just as important, you’ll develop a flair for presenting your findings in simple, easy‑to‑understand language. What’s more, early client exposure will broaden your experience. Business area In Actuarial Services you’ll work with clients from the insurance industry (both life and general insurance), but also from the banking sector (retail and investment), the healthcare sector, the public sector, as well as corporate clients from the non‑financial services sector like energy and utility providers. What you'll do Your advice could cover solvency, reserving, economic capital, risk management, mergers and acquisitions, company restructuring and de‑risking, financial modelling, underwriting, new legislation, the viability of new products and the efficiency of claims or reporting processes. Programme Our graduate training programme is underpinned by a development framework that broadens and deepens your knowledge. You'll learn from hands-on coaching and an outstanding variety of work, picking up business, personal and technical skills you can use across the network, and throughout your career. What you'll need You'll need to have or be on course for a 2.1 degree or above in any subject. We determine whether you're on course for a 2.1 based on the grades you achieved in your last completed year of academic study. Although we do not look for any specific degree or A Level subjects, please note that the Institute and Faculty of Actuaries (IFoA) offers some guidance to those considering a career as an Actuary: . The IFoA qualification syllabus is rigorous and the examinations are highly demanding, so they recommend applicants have a maths-based degree. If you do not have a maths-based degree, they recommend you take one of their non-member exams before starting your IFoA to prepare you for the IFoA qualification process. What you'll gain During our five year programme, you’ll study with the Institute and Faculty of Actuaries. Once you’ve completed the exams, you’ll then be fully qualified and a Fellow of the Institute of Actuaries. When to apply The deadline for applications is 4 July 2021 The deadline for the Game Based Assessment is 5 July 2021 The deadline for the Video Interview is 12 July 2021 We’ll let you know the outcome of your application w/c 19 July 2021 Assessment centres and Final stage assessments will be held w/c 26 July 2021 Find out more Our people Training and development Our events Do you need a work permit? Please take some time to confirm your eligibility for the role. We welcome applications from all candidates but there are restrictions to some areas of our business and some points you should note on our website. Please note that PwC is unable to sponsor any candidates for some roles as the Home Office's eligibility criteria will not be satisfied. For a list of these roles, please review the 'Important information' section of the work permit page on our website. Diversity Valuing Difference. Driving Inclusion We work in a changing world which offers great opportunities for people with diverse backgrounds and experiences. We seek to attract and employ the best people from the widest talent pool because creating value through diversity is what makes us strong as a business, enabling us to solve important problems and deliver value to our clients. We encourage an inclusive culture where people can be themselves, are valued for their strengths and are empowered to be the best they can be. As an organisation with an increasingly agile workforce, we also support different ways of working offering flexible working arrangements. Learn more here about our work to support an inclusive culture.

Example 4

About Swiss Re Swiss Re is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. At Swiss Re we combine experience with creative thinking and cutting-edge expertise to create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 13,000 employees across the world. We offer a flexible working environment where curious and adaptable people thrive. Are you interested in joining us? About the Role We are looking for a passionate and motivated actuary to join the Actuarial Management Project Team. In this role you will broaden your knowledge by working on different challenging projects, and help shape the future of financial reporting in L&H Reinsurance at Swiss Re. This is a fantastic opportunity to work in a successful team across a varied reinsurance business! Key include: Looking after a wide range of projects that are outside the regular business as usual reporting cycle, from small ad hoc tasks to large, long-running change programs. Working closely with actuarial colleagues and other teams to find opportunities for improvements and align processes across the business. Making actuarial and business recommendations based on professional judgment and experience. Developing a sound understanding of the underlying risks on the L&H EMEA Balance Sheet, using this knowledge to facilitate proactive management of the in-force portfolio. Ad-hoc involvement in analysis and production of reporting numbers as well as targeted valuation improvements initiatives under all valuation basis, including using seriatim data or profiles. Encouraging and facilitating the use of the latest technologies and methodologies in valuation and reporting and developing pragmatic solutions to business problems. Working with other business functions - including Finance, Products, Client Markets, IT and others. Providing support to more junior members of the team. About You Technical Skills and Knowledge Qualified Actuary or nearly qualified Actuary with relevant experience. Experience with insurance or reinsurance reporting is an advantage. Familiarity with the range of Life & Health insurance products and reinsurance structures written in the UK or other European markets. Strong Excel skills required, expertise in actuarial or statistical software [website] RAFM, R) preferred. Other Skills Good project management skills and can-do attitude; flexibility in considering your own and other's needs in a fast-paced environment. An independent out-of-the-box thinker who can take ambiguous problems and propose effective solutions, able to form your view on technical and non-technical topics. Teamwork; willing to support the team to meet changing priorities and requirements. Able to build effective working relationships with colleagues in other teams and across technical fields. Strong communication and influencing skills, capable of discussing complex technical matters with internal interested parties. Fluent in English, both oral and written. The role can based in London. At Swiss Re we encourage our employees to 'own the way you work' and are happy to consider flexible working arrangements, such as regular working from home. We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, gender, including gender identity or expression, sexual orientation, age, marital status, veteran status, or disability status. Swiss Re offers modern work models and attractive workplaces that allow all employees to adapt to changing work preferences and life phases. We provide feedback to all candidates via email. If you have not heard back from us, please check your spam folder.

Actuary job summary

A great job description starts with a compelling summary of the position and its role within your company. Your summary should provide an overview of your company and expectations for the position. Outline the types of activities and responsibilities required for the job so jobseekers can determine if they are qualified, or if the job is a good fit.

Example of an Actuary job summary

We are looking for a Senior Actuary with expertise in investment and financial planning to join our growing team. The Senior Actuary will be responsible finding solutions to balance costs and risks, conducting regular rate analysis, researching and pricing products and financial product development. The right candidate will apply his or her talents at our progressive, growing company and enjoy advantages such as the opportunity for professional growth and a comprehensive benefits package.

Actuary responsibilities and duties

The responsibilities and duties section is the most important part of the job description. Here you should outline the functions this position will perform on a regular basis, how the job functions within the organization and who the employee reports to.

  • Prepare monthly and quarterly financial reports
  • Use pricing models to perform analysis
  • Monitor market for current prices and products and prepare competitive analysis reports
  • Handle preparation and submission for filings of long-term care rates
  • Design and price insurance policies and pensions and ensure plans are financially sound

Actuary qualifications and skills

Next, outline the required and preferred skills for your position. This may include education, previous job experience, certifications and technical skills. You may also include soft skills and personality traits that you envision for a successful employee. While it may be tempting to include a long list of skills and requirements, including too many could dissuade qualified candidates from applying. Keep your list of qualifications concise, but provide enough detail with relevant keywords and terms.

  • Bachelor’s Degree in Mathematics, Statistics, Actuarial Science or related discipline
  • 5+ years’ experience evaluating insurance and pension plans
  • Strong written and verbal communication skills
  • Ability to clearly explain complex statistics and technical details
  • Advanced computer skills, including understanding of databases, spreadsheets and statistical analysis software
  • Strong attention to detail
Ready to Hire? Build a Job Description

Job Description Examples

No search results found