Actuarial Analyst: Valuation, Reserves & Rates

NJ Department of Banking and Insurance; Trenton (NJ); On-site; USD 90,000 - 115,000; Full time

Job summary

NJ Department of Banking and Insurance is seeking an actuarial professional under general supervision to perform varied actuarial work, including the valuation of policy and loss reserves, and financial and statistical analyses.

The role also involves reviewing rates, rules, and forms submissions for life and health companies and/or property/casualty entities, including health service and prepayment plans, with duties as required.

Qualifications

• Associate credential (ASA or ACAS) from the Society of Actuaries or Casualty Actuary Society required.
• Professional experience in actuarial work described as analytical, evaluative and interpretive.
• Professional experience can be paired with math/statistics coursework as indicated.

Responsibilities

• Valuation of policy and loss reserves.
• Financial and statistical analysis.
• Review rates, rules, and forms submissions of life/health and property & casualty companies.
• Involvement with health services and prepayment plans and related institutions.

Skills

Actuarial analysis

Financial analysis

Education

ASA or ACAS credential

Job description

Under the general supervision of a Managing Actuary or other higher level official in the Department of Banking and Insurance or the Department of Human Services, 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

REQUIREMENT

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

NOTE: 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.

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