Actuarial Analyst

Oxford Life Insurance Company - Phoenix, AZ

Full-time - Entry Level

Phoenix, AZ

Insurance Carriers and Related Activities

About the position

The Actuarial Analyst position at Oxford Life is designed for recent graduates in Actuarial Science, providing an opportunity to start a career in the life insurance industry. The role involves assessing and quantifying risks, determining necessary reserves, and collaborating with various departments to ensure the financial soundness of insurance products. The position requires strong analytical skills and proficiency in Microsoft Excel, along with a commitment to pursuing actuarial exams.

Responsibilities

• Determine the reserves required on a Statutory, GAAP, and Tax basis to ensure the company's financial position to meet client claims.
• Determine the financial soundness of each line of business using loss recognition testing, gross premium valuations, asset adequacy analyses, and/or experience studies.
• Gather and analyze experience statistics to estimate population mortality, morbidity, lapse, persistency, and maturity rates.
• Work with accountants, compliance officers, marketing representatives, auditors, consultants, and senior management to develop and promote the proper reserving of insurance products.
• Use mathematical techniques and statistical concepts to determine and assess the risk inherent in a particular scheme.
• Keep a close eye on new research and developments that have arisen in the actuarial field.
• Apply innovative solutions for resolving constantly changing business problems.
• Explain the risk and limitations of actuarial schemes in detail to a non-actuarial audience.
• Document the concepts, methodologies, and procedures that have been implemented.

Requirements

• Minimum Bachelor's degree in actuarial science, mathematics, statistics, accounting, or finance with an active pursuit of successfully passing Society of Actuaries actuarial exams.
• Strong proficiency with Microsoft Excel and other software such as MG-ALFA, SAP, Life Support Plus, and LifePRO.
• Excellent analytical and computational skills.
• Proven multitasking skills and ability to work under pressure.
• Excellent communication and interpersonal skills.

Nice-to-haves

• Preference for candidates who have shown success in passing exams towards completion of their designation as an Associate or Fellow of the Society of Actuaries.
• 1+ years of relevant actuarial experience working in the life insurance industry.

Benefits

• Full Medical coverage
• Prescription plans
• Dental & Vision Plans
• New indoor fitness gym
• Gym Reimbursement Program
• Registered Dietitian Program
• Weight Watchers
• Onsite medical clinic for you and your family
• Career stability
• Opportunities for advancement
• Valuable on-the-job training
• Tuition reimbursement program
• Free online courses for personal and professional development at U-Haul University®
• Business and travel insurance
• You Matter Employee Assistance Program
• Paid holidays, vacation, and sick days
• Employee Stock Ownership Plan (ESOP)
• 401(k) Savings Plan
• Life insurance
• Critical Illness/Group Accident
• 24-hour physician available for kids
• MetLaw Legal program
• MetLife auto and home insurance
• Mindset App Program
• Discounts on cell phone plans, hotels, and more
• LifeLock Identity Theft
• Savvy consumer wellness programs - from health care tips to financial wellness
• Dave Ramsey's SmartDollar Program
• U-Haul Federal Credit Union
• Wellness Program