Actuarial Analyst Intern
Summary of Responsibilities:
Provides and verifies data and actuarial reports necessary for product and financial management utilizing actuarial principles and mathematical analysis. Works with some supervision and is responsible to make a minimal range of decisions, escalating to VP/AVP when appropriate and updating VP/AVP on a regular basis. Applies actuarial principles to practical problems correctly.
- Gathers, organizes and formats data from various sources, reviews for reasonableness and provides this data for internal and external use.
- Applies mathematical, statistical and technical skills to analyze data and reports.
- Ensures accuracy of calculations and statistical analysis despite time constraints.
- Answers mathematical, financial and/or product-related questions from other departments.
- Learns and applies Company and departmental work standards, including those for documentation, functions and interrelationships of departments.
- Obtains, verifies and organizes Company experience to be used in product development, financial reporting, forecasting, and/or industry surveys.
- Assists in the development and modification of complex technical programs, applying formulas and methods to analyze products, calculate reserves, project financial results and/or assess profitability and risk.
- Implements actuarial measures with guidance. Verifies accuracy and maintains documentation.
- Executes pricing, valuation and asset-liability runs, selecting the correct model and input data and ensuring internal consistency of all assumptions, product features and in-force data. Reviews for reasonableness and assists in analyzing results.
- Documents projects in writing in accordance with established guidelines.
- Performs other duties assigned by management.
- Proven experience in exercising good judgment, problem-solving skills, time management skills.
- Proven strong analytical skills, including demonstrated experience identifying and quantifying problems and providing effective resolutions.
- Demonstrated experience setting professional goals and successfully implementing and achieving those goals.
- Cite examples of working independently and as part of a team.
- Bachelor’s degree in mathematics or related field.
- Successful completion of at least one Society of Actuaries examination.
Computer Skills and Knowledge of Hardware & Software Required:
- Proficient in word processing, spreadsheet and database applications.
- Commitment to learn actuarial software packages such as those used for valuation (ARCVal), experience studies (ARCBase) and/or pricing and projections (MG-ALFA.)
- Commitment to learn the companies’ policy administrative systems: how they work and how to extract data from them.