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Analyzes and recommends revisions to existing methods for preparing actuarial portions of financial statements, experience reports and new product development.
Essential Job Functions
All the duties of an Actuarial Specialist plus the following: Analyzes existing processes, develops and recommends new procedures for gathering data and performing research studies to support development of new products and reporting requirements. Reviews audits of data files, develops and recommends improvements to eliminate errors to ensure accurate reporting of financial results and reliable results from experience studies. Reviews calculations of product values and recommends and develops tests to verify appropriate formulas and calculations of nonforfeiture values, premiums, and reserves for new and existing products to ensure consistency with product development and legislative requirements. Reviews new product implementation on administrative, valuation and proposal systems to verify that values are consistent with the policy form and product design. Prepares, reviews and provides explanations of the actuarial portions of financial statements and management reports to provide accurate and understandable information for management to control the business. Researches and utilizes technology to create and maintain efficient and accurate actuarial processes, initiating and recommending changes as required. Analyzes experience studies and recommends actuarial assumptions for use in models to provide accurate projections of future experience for new and existing business. Coordinates and/or participates in cross-functional committees where assigned to address actuarial and corporate issues and to represent the Actuarial function. Acts as project lead, where assigned, assigning project work, managing workflow, and providing feedback to management regarding progress, problems encountered and solutions implemented to complete the project on schedule. Supports more experienced actuaries on ad hoc projects. Trains Actuarial Analysts, Senior Actuarial Analysts, and Actuarial Specialists as assigned in actuarial and programming topics. Coordinates with other departments in the preparation of management reports and the resolution of cross departmental issues. Promotes safety at all times and complies with safety/ergonomic standards as outlined in relevant company published manuals. Performs other duties as assigned.
Required job duties are essentially sedentary work consisting of occasional walking, standing and lifting and/or carrying 10-lbs. maximum and seeing.
Required job duties are normally performed in a climate-controlled office environment.
High school diploma or equivalent required. Bachelor’s degree preferred. All four of the preliminary education examinations, FAP Exam #1 and all of the validated by educational experience (VEE) subjects from the Society of Actuaries.
Three years of actuarial experience including one year as an Actuarial Specialist or the equivalent.
Special Skill Requirement
Advanced level knowledge of spreadsheet and database software. Intermediate level knowledge of actuarial projection and word processing software.