Actuarial Analyst

NJ Department of Banking and Insurance; Trenton (NJ); On-site; USD 90,000 - 130,000; Full time

Job summary

NJ Department of Banking and Insurance seeks an experienced actuary to perform varied actuarial work including valuation of policy and loss reserves, financial and statistical analysis, and review of rates, rules, and forms submissions for life, health, and P&C companies.

Applicants must have 4 years of professional actuarial experience with math/statistics credits or a bachelor’s degree with math/statistics credits.

Qualifications

• 30 semester-hour credits equal 1 year of relevant experience
• 4 years of professional actuarial experience with 12 credits in math/statistics
• Bachelor’s degree plus 12 credits in math/statistics accepted
• Must possess an ASA or ACAS credential from SOA or CAS
• Continuing education requirements per AAAS standards for actuaries issuing opinions

Responsibilities

• Valuation of policy and loss reserves
• Financial and statistical analysis
• Review of rates, rules, and forms submissions
• Other related duties as required

Skills

Actuarial analysis

Statistics

Financial analysis

Education

Bachelor’s in Math/Stats

ASA/ACAS credential

Job description

REQUIREMENTS

Under the general supervision of a Managing Actuary or other higher-level official, Department of Banking and Insurance, does varied actuarial work in connection with the valuation of policy and loss reserves, financial and statistical analysis, review of rates, rules, and forms submissions of life and health companies and/or property and casualty companies, including health services and prepayment plans and related institutions; does other related duties as required.

Applicants must meet one of the following or a combination of both experience and education. Thirty (30) semester-hour credits are equal to one (1) year of relevant experience.

Four (4) years of professional experience in actuarial work, including or supplemented by twelve (12) semester hour credits in mathematics and/or statistics.

OR Possession of a bachelor's degree from an accredited college or university, including or supplemented by twelve (12) semester-hour credits in mathematics and/or statistics.

Appointees must possess an associate credential (ASA or ACAS) from the Society of Actuaries or Casualty Actuary Society.

NOTE: As a condition of employment, appointees must comply with the continuing education requirements as outlined in the American Academy of Actuaries' Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States.

NOTE: “Professional experience" refers to work that is creative, analytical, evaluative, and interpretive; requires a range and depth of specialized knowledge of the profession's principles, concepts, theories, and practices; and is performed with the authority to act according to one's own judgement and make accurate and informed decisions.