Actuarial Associate

Lamwork; United States; On-site; USD 100,000 - 150,000; Full time

Job summary

Lamwork is seeking an Actuarial Associate skilled in pricing, reserving, and risk assessments across insurance and financial services. This role demands proficiency in actuarial modeling, strong analytical skills, and the pursuit of actuarial credentials.

The ideal candidate will construct actuarial models, analyze data trends, and prepare documentation for compliance purposes. A competitive salary of about $125,770 is anticipated, based on associated credentials and experience.

Qualifications

• Proficiency in actuarial modeling software like GGY AXIS, Prophet, or MG-ALFA.
• Strong SQL skills and database querying abilities.
• Experience with Excel, especially using VBA.

Responsibilities

• Analyze policyholder experience data for trend identification.
• Build and validate actuarial pricing or reserving models.
• Prepare quarterly and annual reserve calculations under GAAP.

Skills

Actuarial Modeling (GGY AXIS, Prophet, or MG-ALFA)

SQL and Database Querying

Excel (VBA)

Statistical Analysis (R or Python)

GAAP Knowledge

Education

Associate of the Society of Actuaries (ASA)

Fellow of the Society of Actuaries (FSA)

Associate of the Casualty Actuarial Society (ACAS)

Fellow of the Casualty Actuarial Society (FCAS)

Chartered Enterprise Risk Analyst (CERA)

Job description

Actuarial Associate - key role in pricing, reserving, and risk assessment across insurance and financial services. Explore required skills, certifications, and average salary.

Actuarial Associate Overview

An Actuarial Associate is a credentialing‑track professional who sits within an insurance carrier's, consultancy's, or financial services firm's actuarial department, translating quantitative risk theory into pricing, reserving, and financial reporting outputs that management relies on to make capital decisions. Day to day, the work spans building and validating actuarial models, conducting experience studies, preparing reserve calculations under GAAP and Statutory frameworks, and documenting assumptions for senior review. Based on Lamwork's research across Actuarial Associate job data, the role consistently demands concurrent exam progress – candidates are expected to be actively pursuing Society of Actuaries or Casualty Actuarial Society credentials, alongside the technical ability to operate independently on assigned model components.

2. Actuarial Associate Key Responsibilities

• Analyze policyholder experience data to identify mortality, lapse, and morbidity trends that inform assumption updates.
• Build and maintain actuarial pricing or reserving models, ensuring outputs are validated against prior periods and business expectations.
• Prepare quarterly and annual reserve calculations under applicable GAAP, Statutory, or IFRS reporting standards with full documentation.
• Perform experience studies across assigned product lines and summarize findings clearly for senior actuaries and finance partners.
• Review actuarial memoranda, assumption documentation, and supporting materials before submission to regulators or management.

3. Actuarial Associate Required Skills

• Hard Skills: Actuarial Modeling (GGY AXIS, Prophet, or MG-ALFA), SQL and Database Querying, Excel (VBA), Statistical Analysis (R or Python), GAAP Knowledge and Statutory Accounting Frameworks
• Soft Skills: Analytical Thinking, Attention to Detail, Problem Solving, Stakeholder Communication, Team Collaboration

5. Actuarial Associate Certifications

• Associate of the Society of Actuaries (ASA)
• Fellow of the Society of Actuaries (FSA)
• Associate of the Casualty Actuarial Society (ACAS)
• Fellow of the Casualty Actuarial Society (FCAS)
• Chartered Enterprise Risk Analyst (CERA)

6. Actuarial Associate Salary in the United States

The U.S. Bureau of Labor Statistics does not track Actuarial Associate as a separate occupation. Based on the closest related role, Actuaries, the median annual salary is $125,770 per year, according to the most recent available data.

Pay for an Actuarial Associate varies most meaningfully with exam progress and credential level, the specific practice area (life and annuity, P&C, or health), and whether the role sits within a large carrier, a reinsurer, or an actuarial consulting firm.