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Actuary

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Aflac

2mo ago

  • Job
    Full-time
    Junior (1-2 years)
  • Columbus

AI generated summary

  • You need strong analytical skills, proficiency in statistical software, a solid understanding of risk assessment, and relevant certifications in actuarial science.
  • You will analyze financial data, assess risks, develop pricing models, and provide insights to improve insurance products and strategies. Collaborate with teams to ensure data accuracy and compliance.

Requirements

  • Must have a Bachelor’s degree in Actuarial Science, Mathematics, or related quantitative discipline plus 2 years of experience in actuary positions. In the alternative, employer will accept a Master’s degree in Actuarial Science, Mathematics, or related quantitative discipline.
  • Work or educational background must have included:
  • Coding models in various applications, including Excel, R, Matlab, and Stata
  • Performing data analysis, synthesizing it into something meaningful, and developing materials and presentation of findings.
  • Understanding data limitations and considering influence of business processes, market segmentation strategies, and industry factors on analysis.
  • Identifying, setting, and defending actuarial and financial assumptions.
  • Developing, enhancing, and delivering actuarial and financial models that effectively evaluate risk.
  • Analyzing statistical distributions with applications
  • Applying estimation and inference with statistical methods and models
  • Applying tools for pricing and reserving for short-term insurance, including actuarial model calculations, statistical model fittings, and parametric model selections
  • Applying actuarial models for life contingent risks, including survival models, life tables, life insurance and annuity benefits, premium and reserve calculations
  • Utilizing tools and techniques used by insurance companies and the investment process within the insurance industry
  • Applying stochastic models to risk management
  • Microeconomic, Macroeconomic, and Econometric theory
  • Linear regression models, analysis of variance, nonparametric statistics, and Bayesian statistics
  • Must have completed at least three society of Actuaries (SOA) exams, including the Models for Life Contingencies (MLC) exam, working towards an Associate of the Society of Actuaries (ASA) designation.
  • Position may be eligible to work hybrid/remotely but is based out of and reports to Aflac offices in Columbus, GA. Must be available to travel to Columbus, GA regularly for meetings and reviews with manager and project teams within 24-hours’ notice.

Responsibilities

  • Under general supervision, code, parametrize, and utilize actuarial models to solve problems which may include: pricing, reserving/reserve testing, experience studies, business planning, or capital planning
  • Analyze output from models for reasonability and generate reports
  • Make adjustments and improvements to models, when appropriate
  • Apply knowledge of mathematics, probability, statistics, principles of finance and business to calculations
  • Develop raw data into assumption basis with which to parameterize models
  • Utilize knowledge of actuarial standards of practice and business acumen to solve challenging actuarial questions
  • Work with other departments (eg. product development, financial, compliance, and Japanese colleagues) to complete assignments on schedule; reviews and analyzes statistical data including morbidity, mortality and termination experience as well as policy provisions, state regulations, and other documents
  • Communicate the findings of actuarial work to managers and executives in an appropriate manner for business decisions to result
  • Aide in the representation of the department in internal and external groups for the benefit of the company
  • Use CFA knowledge to assist with investment analysis associated with asset modeling

FAQs

What are the primary responsibilities of the Actuary position?

The primary responsibilities include coding, parameterizing, and utilizing actuarial models for pricing, reserving, experience studies, business planning, and capital planning. Additionally, the actuary will analyze model outputs, generate reports, make improvements to models, and apply mathematical and financial principles to calculations.

What qualifications are required for the Actuary role?

Candidates must have a Bachelor’s degree in Actuarial Science, Mathematics, or a related quantitative discipline, along with 2 years of experience in actuarial positions. Alternatively, a Master’s degree may also be accepted. At least three Society of Actuaries (SOA) exams must be completed, including the Models for Life Contingencies (MLC) exam, and candidates should be working towards an Associate of the Society of Actuaries (ASA) designation.

What technical skills are necessary for this Actuary position?

Necessary technical skills include coding models in applications like Excel, R, Matlab, and Stata; performing data analysis; understanding and applying statistical methods and models; developing actuarial and financial models; and utilizing tools for pricing and reserving for short-term insurance.

Is experience with specific actuarial practices required?

Yes, candidates should have experience in identifying actuarial and financial assumptions, analyzing statistical distributions, applying stochastic models to risk management, and understanding microeconomic, macroeconomic, and econometric theories.

Will this Actuary position allow for hybrid or remote work?

Yes, the position may be eligible for hybrid or remote work; however, it is based out of and reports to Aflac offices in Columbus, GA. Regular travel to Columbus, GA will be required for meetings and project reviews with a 24-hour notice.

What is the salary range for the Actuary role?

The salary range for the Actuary position is between $114,837 and $130,000.

How can a candidate apply for the Actuary position?

Interested candidates can apply online at the Aflac careers website or email their resume to Adam Atkinson, Associate Counsel at Aflac, at aatkinson@aflac.com.

What types of projects or departments will the Actuary be collaborating with?

The Actuary will work with various departments, such as product development, financial, compliance, and with colleagues from Japan, to complete assignments and analyze statistical data related to morbidity, mortality, and policy provisions.

What level of communication skills is expected from the candidate?

The candidate should possess strong communication skills to effectively present findings of actuarial work to managers and executives, ensuring the information is conveyed appropriately for business decision-making.

Aflac

Aflac gives you cash to help with expenses health insurance doesn't cover like deductibles and co-payments.

Finance
Industry
10,001+
Employees
1955
Founded Year

Mission & Purpose

Over 50 Million people worldwide have chosen Aflac because of our commitment to providing customers with the confidence that comes from knowing they have assistance in being prepared for whatever life may bring. With Aflac, whether you're a large business or a small one, you can provide your employees with the kind of benefits they’d expect from a bigger company, helping your business stand out from the crowd. Hundreds of thousands of businesses across the United States already make Aflac available to their employees—at no direct cost to their company. Choose from a wide range of products that can help your employees with health events—from accidents, to disability, to cancer, to life insurance. Your employees enjoy benefits from Aflac, all employee-paid.