Actuary Job Description: Top Duties and Qualifications

Your job description is the first touchpoint between your company and your new hire. With millions of people searching for jobs on Indeed each month, a great job description can help you attract the most qualified candidates to your open position. To get you started, here are some tips for creating an effective job description.

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Actuary job title

A great job title typically includes a general term, level of experience and any special requirements. The general term will optimize your job title to show up in a general search for jobs of the same nature. The level of experience will help you attract the most qualified applicants by outlining the amount of responsibility and prior knowledge required. And if your position is specialized, consider including the specialization in the job title as well. But avoid using internal titles, abbreviations or acronyms to make sure people understand what your job posting is before clicking.

  • Actuary
  • Entry-Level Actuary
  • Benefits Actuary
  • Actuary (Full-Time)
  • Insurance Actuary
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Actuary Job Description Examples:

 

Example 1

Scope Statement The Actuarial Analyst performs mathematical calculations to provide basic actuarial and financial technical support for the functional area. The incumbent works within defined procedural constraints and under the moderate supervision of the Manager or Director of the area with actuarial responsibilities. Impact Statement Provides actuarial and financial modeling support to specific members of the functional area to assist in the achievement of goals, objectives, and efficient operations Ensures the provision of accurate mathematical calculations Responsibilities include Develop and implement data reconciliations and mathematical calculations Develop and distribute management information Support and complete various research projects Complete various industry surveys Streamline current processes and create or update supporting documentation Support analysis and interpretation of new industry / professional / regulatory guidelines Support and develop IFRS 17 valuation models and processes Knowledge / Experience / Certification Experience in financial modeling or actuarial roles is an asset Completion of a minimum of two exams through the Society of Actuaries Ability to learn and become adept using actuarial software [website] Atlas, AXIS) Advanced proficiency with various data and modeling platforms such as Excel / VBA, Power Query, SQL Server, Power BI, Matlab, R, Python etc. is an asset Strong conceptual understanding and experience with stochastic modeling and economic scenario generation Education / Professional Courses Completion of a university degree with courses in mathematics, finance, economics and/or business A related postgraduate degree is considered an asset Key Skills Well-developed mathematical skills Ability to prioritize and balance multiple tasks or projects Ability to conduct in-depth research and analysis Well-developed organizational skills Clear writing and verbal communication skills Attention to detail/accuracy Key Competencies Collaboration Driving for Results Initiative Innovation Integrity Interpersonal Communication Judgment and decision-making Leadership Working Conditions Office environment Prolonged periods of concentration and attention to detail Prolonged periods of sitting while using a computer May be required to work extended hours to support requirements Interactions Head Office management and employees Business partners including field office personnel as applicable

Actuary job summary

A great job description starts with a compelling summary of the position and its role within your company. Your summary should provide an overview of your company and expectations for the position. Outline the types of activities and responsibilities required for the job so job seekers can determine if they are qualified, or if the job is a good fit.

Example of an Actuary job summary

We are looking for a Senior Actuary with expertise in investment and financial planning to join our growing team. The Senior Actuary will be responsible for finding solutions to balance costs and risks, conducting regular rate analysis, researching and pricing products and financial product development. The right candidate will apply his or her talents at our progressive, growing company and enjoy advantages such as the opportunity for professional growth and a comprehensive benefits package.

Actuary responsibilities and duties

The responsibilities and duties section is the most important part of the job description. Here you should outline the functions this position will perform on a regular basis, how the job functions within the organization and who the job reports to.

  • Prepare monthly and quarterly financial reports
  • Use pricing models to perform analysis
  • Monitor market for current prices and products and prepare competitive analysis reports
  • Handle preparation and submission for filings of long-term care rates
  • Design and price insurance policies and pensions and ensure plans are financially sound

Actuary qualifications and skills

Next, outline the required and preferred skills for your position. This may include education, previous job experience, certifications and technical skills. You may also include soft skills and personality traits that you envision for a successful hire. While it may be tempting to include a long list of skills and requirements, including too many could dissuade qualified candidates from applying. Keep your list of qualifications concise, but provide enough detail with relevant keywords and terms.

  • Bachelor’s Degree in Mathematics, Statistics, Actuarial Science or related discipline
  • 5+ years’ experience evaluating insurance and pension plans
  • Strong written and verbal communication skills
  • Ability to clearly explain complex statistics and technical details
  • Advanced computer skills, including understanding of databases, spreadsheets and statistical analysis software
  • Strong attention to detail
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Job Description Examples

Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

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