Actuary Job Description

Finding qualified, reliable individuals to join your staff is an essential step in growing your business. We’re here to make the hiring process as easy as possible for you. In this guide, we’ll cover all of the following:


WHAT TO INCLUDE IN A JOB DESCRIPTION

A good job description should include a company overview and job overview, as well as an explanation of the associated responsibilities, skills & qualifications, and work environment. Below are some general guidelines for writing each of these sections effectively.

1. COMPANY OVERVIEW


Providing an accurate, concise description of your business is a great way to attract the right employees. Think of this section as an advertisement for your company -- why should prospective employees want to join your team?

Some useful things to include here are:

  • Core company values
  • Mission statement
  • Brief history of your organization
  • Anticipated growth
  • Business goals

 

2. JOB OVERVIEW


In a few sentences, describe the purpose, importance, and fundamental qualities of the position being offered. No need to be too specific or comprehensive here -- the idea is to provide a zoomed-out image of the role the applicant would be filling in your company.

3. RESPONSIBILITIES


This is where you’ll outline the specific day-to-day responsibilities of the job. Bullet-point format is typically the most practical way to present this information.

4. NECESSARY SKILLS & QUALIFICATIONS


List in bulleted format the skills & qualifications that are absolutely essential to this position. Consider as many specific conditions of the job as possible in order to create a complete list of qualifications an applicant must have in order to succeed.

5. PREFERRED SKILLS & QUALIFICATIONS


List in bulleted format the skills & qualifications that are not essential, but would make an applicant more eligible for the position being offered.

6. WORK ENVIRONMENT


Describe the environment in which the applicant would be spending most of their time. In this description, include information about:

  • Company culture
  • Pace of work
  • Amount of collaborative vs. independent activity
  • Who the employee will report to (or vice versa)

Actuary Job Description

Below is our actuary job description. You can post it as-is to an online job board like ZipRecruiter, or download and customize it to match the unique aspects of your business. Keep in mind that adding a custom company overview and description of the work environment (outlined above) will help you draw in the right applicants.

Actuary Job Description

Job Overview:

Our actuaries make sure the insurance policies we offer have rates that are competitive yet properly account for risk. They’re responsible for conducting rate analyses, monitoring market rates within their specialization, and preparing filings for selected rates. As a large insurance company, we have actuaries who specialize in property, casualty, health, life, and long-term care insurance.

Responsibilities:

  • Conduct rate analyses using various pricing models
  • Monitor market rates for comparable insurance products
  • Ensure that our policy rates are financially sound
  • Prepare and help submit filings for rates
  • Prepare regular reports for management
  • Collaborate with fellow actuaries and other staff professionals

Necessary Skills & Qualifications:

  • Bachelor’s degree in actuarial science, statistics, mathematics, or a related field
  • Minimum of one year of experience evaluating insurance policy rates
  • Must be on actuarial exam track, having passed two or more exams
  • Strong written and verbal communication skills
  • Ability to explain technical details clearly and concisely
  • Knowledge of Microsoft Excel and statistical analysis programs
  • Detail-oriented focus
  • Team-oriented work ethic

Preferred Skills & Qualifications:

  • Minimum of three years of experience evaluating insurance policy rates
  • Minimum of two years of experience with a specific type of insurance policy
  • Certification with the Casualty Actuarial Society or Society of Actuaries
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3 STEPS TO TAKE WHEN HIRING EMPLOYEES

ENSURE LEGAL COMPLIANCE


Hiring employees can be an intimidating and time-consuming process, but it doesn’t have to be. We’ve created a hiring compliance checklist to help you get over the legal hurdles with ease. From obtaining an Employer Identification Number (EIN) to confirming work eligibility, our guide covers everything you need to know.

SET UP PAYROLL


Even if your business only has a few employees, setting up a payroll service can save you time for running your business and also ensure that your company is compliant with important federal requirements, such as employee withholding.

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We recommend Gusto, a user-friendly payroll platform for small businesses. Try out their services and get one month free.

Sign up now

ACQUIRE WORKERS' COMP INSURANCE


Workers’ compensation insurance provides financial and legal protection for your business and its employees.

Whether or not you need workers’ comp insurance for your company depends on the nature of the job, the employer-employee relationship, and the unique regulations of your state.

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Find out how much the right insurance will cost you.

GET A QUOTE