Actuarial Trainee

The Actuarial Trainee provides complete and accurate information for use by management in determining rate levels and/or adequate loss and loss adjustment expense reserves. The Actuarial Trainee will assist in implementing rate change decisions.
Salary Grade (8)  49,041 - 61,302 - 73,562

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

Provides information to be used in determining rates and/or loss and loss adjustment expense reserve levels.  This information may be internal to the company, industry data or competitive information.

Assists in the implementation of rate change decisions in conjunction with Actuarial staff.  This includes calculations of overall effects, filing with regulators and ensuring rate manuals and policy processing systems are properly updated.

Performs research on projects intended to improve risk selection, claims settlements, or general financial improvement of the company.  This includes data mining and analysis as well as other projects as requested.

Pursues continuing education by studying for and successfully completing actuarial examinations.

SUPERVISORY RESPONSIBILITIES

This position has no supervisory responsibility.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION/EXPERIENCE

BS/BA or Equivalent in Actuarial Science, Mathematics or related course of study

Intermediate computer skills including familiarity with spreadsheets and databases

Exposure to a statistical programming language such as R, Python, and/or SAS is a plus

Strong Communication Skills

Preference will be given to candidates with credit for at least one Casualty Actuarial Society exam

LANGUAGE SKILLS

Able to effectively communicate with various audiences, including actuaries, product analysts, underwriters, IT staff, and management.

MATHEMATICAL SKILLS

Advanced skills are required including coursework in calculus, linear algebra and probability/statistics.

REASONING ABILITY

Ability to understand actuarial concepts and apply logic to solve complex problems.

Capable of making independent decisions.

CERTIFICATES, LICENSES, REGISTRATIONS

Advancement in the CAS examinations is desirable but not required.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Employees are required to sit at a workstation to perform various PC and/or terminal functions

WORK ENVIRONMENT

Individuals in this position need to work both independently and with others.  Attention to detail is critical.  Most projects require adherence to strict timelines.  Many projects directly impact the financial results of the company and are very visible to senior management.

COMMENTS

This is an entry-level position for those seeking a career in Actuarial science.  Study of the CAS examination syllabus materials is encouraged with company-sponsored assistance.