Actuary utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Being an Actuary assists with product design and development by analyzing risk groups and calculating appropriate insurance rates, premium levels, and rating systems and structures. Records and tracks accruals, claims, and settlements and prepares documents for input into regulatory filings, financial budgets, forecasts, and other financial projections. Additionally, Actuary 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. Must be currently pursuing the designation of ASA (Associate) in the Society of Actuaries. Typically reports to a manager. The Actuary work is closely managed. Works on projects/matters of limited complexity in a support role. To be an Actuary typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
This role is on a hybrid schedule in our Detroit office, in office a few days a week on a weekly basis with some remote days each week
Ally’s Independent Risk Management (IRM) function is responsible for objective and critical assessment of risks and through oversite, effective challenge, and other means evaluation of whether Ally remains aligned with its risk appetite and risk limits. Reporting to the Director of Insurance Risk, the Associate Actuary will be responsible for participating in multiple initiatives by covering actuarial aspects of key products and processes, developing new and enhancing current analyses, providing feedback to the business line, and communicating results to leadership in support of Insurance Risk’s broader actuarial initiatives.
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