Actuarial Analyst

Western & Southern Financial Group - Cincinnati, OH

Full-time

Cincinnati, OH

Insurance Carriers and Related Activities

About the position

The Actuarial Analyst position at Western & Southern Financial Group involves providing and verifying data and actuarial reports essential for product and financial management. This role requires the application of actuarial principles and mathematical analysis, with the analyst working under some supervision. The analyst is responsible for making a minimal range of decisions, escalating issues to the Assistant Vice President (AVP) when necessary, and keeping the AVP updated on progress regularly. The position demands a correct application of actuarial principles to practical problems, ensuring that the data and reports produced are accurate and reliable. In this role, the analyst will gather, organize, and format data from various sources, reviewing it for reasonableness before providing it for both internal and external use. The position requires strong mathematical, statistical, and technical skills to analyze data and reports effectively. The analyst must ensure the accuracy of calculations and statistical analyses, even under time constraints, and will be responsible for answering mathematical, financial, and product-related inquiries from other departments. The analyst will also obtain, verify, and organize company experience data for use in product development, financial reporting, forecasting, and industry surveys. They will assist in developing and modifying complex technical programs, applying appropriate formulas and methods to analyze products, calculate reserves, project financial results, and assess profitability and risk. The role includes executing pricing, valuation, and asset-liability runs, ensuring internal consistency of all assumptions, product features, and in-force data. Documentation of projects must be completed in accordance with established guidelines, and the analyst will perform other duties as assigned while complying with all company policies and standards.

Responsibilities

• Gathers, organizes and formats data from various sources, reviews for reasonableness and provides this data for internal and external use.
• Applies mathematical, statistical and technical skills to analyze data and reports.
• Ensures accuracy of calculations and statistical analysis despite time constraints.
• Answers mathematical, financial and/or product-related questions from other departments.
• Learns and applies Company and departmental work standards, including those for documentation, functions and interrelationships of departments.
• Obtains, verifies and organizes Company experience to be used in product development, financial reporting, forecasting and/or industry surveys.
• Assists in the development and modification of complex technical programs, applying formulas and methods to analyze products, calculate reserves, project financial results and/or assess profitability and risk.
• Implements actuarial measures with guidance.
• Verifies accuracy and maintains documentation.
• Executes pricing, valuation and asset-liability runs, selecting the correct model and input data and ensuring internal consistency of all assumptions, product features and in-force data.
• Reviews for reasonableness and assists in analyzing results.
• Documents projects in writing in accordance with established guidelines.
• Performs other duties as assigned.

Requirements

• Bachelor's Degree in mathematics or related field (Required)
• Successful completion of at least one Society of Actuaries examination (Required)
• Proven experience in exercising good judgment, problem-solving skills and time management skills (Required)
• Demonstrated experience setting professional goals and successfully implementing and achieving those goals (Required)
• Proven strong analytical skills, including demonstrated experience identifying and quantifying problems and providing effective resolutions.
• Applies principles of logical thinking to define problems, collect data, establish facts and draw valid conclusions.
• Demonstrated excellent verbal and written communication skills with the ability to successfully interpret and communicate complex business needs with internal and external partners in a clear, focused and concise manner.
• Prepares correspondence, reports and forms using prescribed formats and conforming to proper rules of punctuation, grammar, dictation and style as well as accuracy and timeliness.
• Demonstrated ability to work independently, maintaining self-motivation, under limited supervision.
• Cite examples of working effectively as part of a team.
• Proficient in word processing, spreadsheet and database applications.
• Commitment to learn actuarial software packages such as those used for valuation (ARCVal), experience studies (ARCBase) and/or pricing and projections (MG-ALFA).
• Commitment to learn the companies' policy administrative systems: how they work and how to extract data from them.
• Certified Financial Services Auditor (CFSA)
• Actively pursue FSA designation by attempting a Society of Actuaries exam at each sitting. Upon Hire (Required)
• Passes at least 50% of the exams attempted. Upon Hire (Required)
• Adheres to all other Actuarial Exam and other administrative rules. Upon Hire (Required)