Actuarial analyst

About the Role

The Actuarial Analyst role is responsible to evaluate existing policies, analyse data, model risk, monitor product pricing, conduct industry research, create financial projections, collaborate with underwriters, explain complex concepts, and support departments in insurance-related tasks.

Key Responsibilities:

• Review existing policies and procedures to determine if they are still applicable to current circumstances.
• Analyse data and model risk by employing mathematical and statistical methods to evaluate potential threats and provide advice for managerial decisions.
• Monitor product pricing and profit testing in support of the product implementation process.
• Perform research into new trends in the insurance industry to identify areas where new products may be needed.
• Create financial projections and budgeting for insurance and reinsurance business.
• Work closely with underwriters to explain technical analysis and communicate findings and recommendations.
• Explain complex mathematical and statistical concepts used for reporting insurance contracts profitability.
• Support the accounting department in all aspects related to IFRS 17 reporting and regulatory reporting.
• Support budgeting department in providing technical insurance projection and variance analysis.
• Support IT department in testing new insurance systems and generating required data.

Education:

Degree in related field (business, economics, actuarial science, statistics)

Experience:

At least 5 years' experience in actuarial analysis for insurance industry

Special Skills & Knowledge:

• Knowledge of IRS 17 reporting standard requirements
• Excellent communication skills, including the ability to break down and communicate complex and technical information.
• Problem-solving skills
• High level of analytical and mathematical skills
• Software and data analysis skills
• Good writing skills
• Can-do attitude and the ability to take ownership of projects.
• High ethical standards
• Commitment to complete studies and upgrade skills