Actuary Job Description

Actuary Duties and Responsibilities

Actuary job description should contain a variety of functions and roles including:

• Actuary advises on issues such as the selection of investment managers or the administration of pensions and benefits;
• Actuary work with IT professionals to develop systems to ensure compliance with the requirements of regulatory bodies;
• Analyzing statistical data in order to calculate, for example, accident rates for particular groups of people;
• Communicating with clients and carrying out relationship management, including with investment managers, financial directors and external stakeholders;
• Supervising staff;
• Using mathematical modelling techniques and statistical concepts to determine probability and assess risks, such as analysing pension scheme liabilities, to price commercial insurance;
• Calculating funding rates and considering assumptions for pension scheme liabilities;
• Developing new financial products;
• Actuary monitor risk within trading positions in investment banking to ensure excessive risks are not taken during the fast pace of trading;
• Actuary work with mergers and acquisitions on some occasions.
• Conducting valuations of assets and liabilities;
• Analyzing risks related to locations for catastrophe claims;
• Measuring, monitoring and mitigating portfolio and enterprise risks;
• Presenting reports, explaining their implications to managers and directors, and advising on risk limitation;
• Actuary oversees asset and liability modelling, product development and profit testing;
• Preparing presentations, reports, valuations and quarterly updates.
• Advising on investment strategies and assessing the profitability of an investments portfolio;

Actuary Requirements / Skills / Qualifications

Actuary job description should include these common skills and qualifications:

• Bachelor’s degree in Actuarial Science, Mathematics, or a related field.
• Experience may be preferred or required.
• Additional certifications and training may be required.
• Extensive knowledge of mathematics, statistics, computer science, and calculus.
• Familiarity with specific industries, such as finance or insurance, may be beneficial.
• Strong communication and presentation skills.
• Proficiency with computer software and modelling programs.

As a hiring manager, recruiting an ideal Actuary starts with crafting a good job description. Use this Actuary job description template to save yourself time and help you attract the most qualified candidates. Feel free to revise it to meet your specific needs.

Job seekers interviewing for the role of an Actuary may also reference it in preparation for the interview.