Actuarial Analyst

U-Haul - Phoenix, AZ

Full-time - Entry Level

Phoenix, AZ

Rental and Leasing Services

About the position

The Actuarial Analyst position at U-Haul is designed for recent graduates in Actuarial Science, providing an opportunity to begin a career in the life insurance industry. The role involves using statistical and financial tools to assess risks and develop policies to mitigate potential financial impacts on the organization. The analyst will work closely with various departments to ensure the company's financial stability and compliance with regulatory standards.

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.
• Collaborate 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.
• Stay updated on new research and developments in the actuarial field.
• Apply innovative solutions for resolving constantly changing business problems.
• Explain the risk and limitations of actuarial schemes to a non-actuarial audience.
• Document the concepts, methodologies, and procedures that have been implemented.

Requirements

• Bachelor's degree in actuarial science, mathematics, statistics, accounting, or finance.
• Strong proficiency with Microsoft Excel, Word, Access, and PowerPoint.
• 1 year of relevant actuarial experience in the life insurance industry is preferred.
• Active pursuit of Society of Actuaries actuarial exams.

Nice-to-haves

• Success in passing exams towards completion of designation as an Associate or Fellow of the Society of Actuaries.
• Experience with actuarial software (MG-ALFA) and financial reporting software (SAP).

Benefits

• Wellness program
• Paid holidays
• Health insurance
• Dental insurance
• 401(k)
• Tuition reimbursement
• On-the-job training
• Employee assistance program
• Vision insurance
• Gym membership
• Employee stock ownership plan
• Opportunities for advancement
• Life insurance