Explore the critical requirements, core duties, primary responsibilities, and key skills that should be included in a comprehensive Actuarial Analyst job description.
What does a Actuarial Analyst do?
An actuarial analyst helps companies assess and manage risk by using statistical models and analyzing data. They are commonly employed in industries like insurance to help design and price policies.
Job Description
We are searching for an actuarial analyst with a strong background in statistics to join our team. In this role, you will use statistical modeling to analyze data related to things like mortality, accidents, retirement, and finances. You will also work closely with actuaries, provide technical support, and verify the accuracy of data sources.
Successful candidates will have excellent critical thinking skills, be familiar with statistical analysis software, and be able to explain complex statistical information in a clear and easy-to-understand way.
Job Duties and Responsibilities
- Use advanced statistics and modeling to understand data
- Assist actuaries with technical support and analysis
- Produce reports on analysis findings
- Identify liabilities and risks
- Identify trends
- Help design and price insurance policies
- Verify data sources
- Identify new sources of data
- Develop processes for improved data analysis and reporting
Requirements and Qualifications
- Bachelor's degree in mathematics, statistics, or actuarial science
- Strong understanding of math and statistics
- Experience with spreadsheets and databases
- Familiarity with statistical analysis programs like Insightful S-PLUS and Wolfram Research Mathematica
- Excellent critical thinking, problem-solving, and communication skills
- Basic understanding of computers and electronics
- Basic knowledge of laws, legal codes, and regulations
- General understanding of business and finance
Actuarial Analyst Salary
The earning potential of a Actuarial Analyst can vary significantly based on factors such as geographic location, industry, professional experience, educational background, and the specific employer. On average, the annual salary for an Actuarial Analyst in the United States is approximately $115447.
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