Actuarial Analyst

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

Job summary

The NJ Department of Banking and Insurance seeks an actuary to perform valuation of policy and loss reserves, financial and statistical analyses, and review of rates, rules, and forms for life, health, and P&C companies.

Applicants must have either four years of actuarial experience with math/stat credits or a bachelor’s degree with math/stat credits, plus an ASA or ACAS credential and ongoing continuing education compliance.

Qualifications

• Four years of professional actuarial experience or a bachelor's degree with math/stat credits.
• Candidate must demonstrate knowledge of actuarial principles and practices.
• Continuing education requirements must be complied with.

Responsibilities

• Valuation of policy and loss reserves for life, health, and P&C lines.
• Perform financial and statistical analyses and vet rates/rules/forms submissions.
• Review health services and prepayment plans and related institutions.

Skills

Actuarial analysis

Financial analysis

Statistical methods

Education

Bachelor's degree with math/stats credits

ASA or ACAS credential

Job description

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.

REQUIREMENTS

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 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.