Actuarial Assistant/Analyst, Product Actuarial – 12 month contract

Job Description

Key responsibilities / accountabilities

• Support pricing actuaries in the production of deliverables for product initiatives in partnership with Product Management
• Understand how pricing models work and detect potential model errors, including the impact of changing assumptions or inputs on the output of the model
• Become familiar with Moody’s AXIS software to support development of high quality pricing models
• Follow pricing guidelines, standards, and policies while supporting development of pricing assumptions and production of cash flow projections, profit metrics, and other model output
• Contribute written content to product reports and continue to build knowledge and expertise in preparation for presenting pricing analysis to Actuarial Advisory Group
• Provide visibility to pricing actuaries on opportunities to improve existing processes or risks associated with work being performed
• Support the production of performance monitoring and planning deliverables such as Value of New Business reporting and the New Business Plan models.
• Identify opportunities to improve the structure or maintenance of pricing infrastructure such as models, reports, documentation, and spreadsheets
• Includes automation, auditability, and compliance with policies and standards
• Develop understanding of how the Product Actuarial team interacts with other Foresters departments such as Corporate Actuarial, Risk Management, Finance, Planning, Sales, IT, and Product Management
• Communicate results of pricing analysis to fellow team members and other actuarial professionals within Foresters

Key qualifications / competencies

• Bachelor’s degree in mathematics, science, business, economics, or another relevant field
• One (1) year of actuarial experience in a life or health insurance company an asset
• Demonstrated progress through the SOA and CIA education and examination process
• Communication skills required to progressively deal with both technical and non-technical audiences with diverse professional backgrounds
• Capable of performing bottom up checking of processes or models to ensure accuracy of results
• Develop ability to recognize when models or analysis contains errors and troubleshoot
• Demonstrated ability to recognize when conflicting information or lack of information could affect analysis and work with manager or teammates to resolve
• Proactively recommend possible solutions, including ones based on knowledge acquired by passing actuarial exams
• Ability to become expert with Moody’s AXIS and Microsoft Excel, Word, PowerPoint essential. Current experience with these tools an asset.
• Innovative thinker and problem solver
• Willingness to think outside the box, especially from a contrarian perspective
• Ability to develop project and time management skills as responsibilities increase
• Develop and maintain current knowledge of life insurance products in the U.S. and Canada
• Begin to gain familiarity with product regulations and other external standards
• Begin to develop familiarity with other Foresters Corporate / Group functions such as financial reporting, ALM, Capital Management, Risk Management or Business Planning

LI-Hybrid