Actuarial Services Director directs the activities of an organization's actuarial function. Oversees the analysis and evaluation of potential risks to determine the financial impacts of new or existing insurance plans. Being an Actuarial Services Director develops policies, procedures, and formulas to guide statistical analysis and actuarial research and evaluate the likelihood and financial impact of various risks. Designs processes and guidelines to ensure regulatory compliance of products and financial operations. Additionally, Actuarial Services Director leads the design and development of insurance products by evaluating and approving insurance rates, premium levels, and rating systems and structures. Oversees the preparation of actuarial reports, financial statements, and regulatory filings and develops financial budgets, forecasts, and other financial projections. Researches and selects major rating assumptions to support accurate statistical analysis and evaluates the effectiveness of existing formulas. Evaluates product performance against established profitability targets and recommends modifications. Applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Requires a bachelor's degree. May require Associate of Society of Actuaries (ASA). May require Fellow of Society of Actuaries (FSA). Typically reports to senior management. The Actuarial Services Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. To be an Actuarial Services Director typically requires 5+ years of managerial experience. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. (Copyright 2024 Salary.com)
Penn National Insurance has an amazing opportunity for an Actuarial Assistant to join our world-class Actuary Team! This is a full-time, hybrid position reporting to our home office in Harrisburg, PA.
The Actuarial Assistant supports the Actuary or Senior Actuary in preparing actuarial rate or reserve reviews. This position is part of the actuarial career progression, filled by someone working towards a professional actuarial designation.
Generally performs work independently with the broad direction of the Actuary, Senior Actuary, or Vice President of Actuarial.
COMPETENCIES AND ESSENTIAL DUTIES OF THE ACTUARIAL ASSISTANT
Business Acumen
Embraces Data Analytics
Negotiation
Results Oriented
Time & Priority Management
Decision Making
Performs various projects requested or assigned by the Vice President Actuarial
CORPORATE CORE COMPETENCIES OF THE ACTUARIAL ASSISTANT
Effectively Communicates and Connects
Customer Focused
Talent Development Mindset
Demonstrates Adaptability
Demonstrates Accountability
SPECIAL RELATIONSHIPS FOR THE ACTUARIAL ASSISTANT
QUALIFICATIONS FOR THE ACTUARIAL ASSISTANT
Education/Credentials
Experience
Technical/Professional Knowledge
JOB REQUIREMENTS (as required by ADA – Americans with Disabilities Act)
Only candidates from the following states will be considered for positions at Penn National Insurance: Alabama, Delaware, Iowa, Maryland, Minnesota, North Carolina, New Jersey, Pennsylvania, South Carolina, Tennessee, Virginia, Wisconsin.
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