Actuary Job Description Sample

This Actuary sample job description can be used to help you create a job advert that will attract candidates who are qualified for the job. Feel free to revise this job description to meet your specific job duties and job requirements.

Job Title: Actuary

Actuary Job Purpose:

An Actuary is someone who assesses risk and uncertainty professionally. These professionals are employed in two primary capacities: life and non-life. Life actuaries are employed by life insurance companies and pension firms. They assess the risk of mortality for the insured and gauge the investment risk of providing the person in question with insurance. In contrast, non-life actuaries work in property insurance, homeowners insurance, malpractice insurance, business insurance, and auto insurance. Actuaries in this discipline assess a person's propensity for risky behaviour and the effect that behaviour will have on health and assets. Some actuaries work solely in enterprise risk management, providing financial analysis, stress testing, formulating corporate risk policies, and analysing securities.

Regardless of the discipline, Actuaries gauge the risk people, their belongings, and/or their businesses will be negatively impacted by something and the insurance policy will need to be accessed. Their risk assessments change the price. Often actuaries work for insurance companies but are not involved with selling insurance and may not meet with clients.

Actuary Job Duties:

  • Interviewing insurance subject and recording information about subject
  • Using probability and statistics to gauge insurance subject's inherent risk
  • Applying that measure with desired coverage amounts to set insurance rate premium
  • Reviewing risk assessments, coverage amounts, and payment histories
  • Regularly reviewing assessments and adjusting actuarial formula as necessary

Actuary Skills and Qualifications:

Mathematics skills, Experience in calculus-base probability and statistics, Detail-oriented, Analytical skills, Knowledge of pricing models, Experience analysing subject matter at hand, Ability to answer qualitative questions quantitatively, Technical aptitude, Experience use actuarial tables and pricing

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