Actuarial Intern

Reliance Standard Life Insurance Company; Philadelphia (Philadelphia County); Hybrid; USD 31,684 - 34,440; Part time

Benefits offered by this job

Hybrid Office/Remote Work Schedule

Paid Internship Opportunity

Opportunity for full-time employment after graduation

Job summary

Reliance Standard Life Insurance Company offers a ten-week Summer Intern Program for Actuarial Internships, providing opportunities for students to gain insights into the insurance industry. With a focus on varied actuarial functions like pricing, product development, and data analysis, this role is aimed at those pursuing a degree in relevant fields.

The internship includes a paid opportunity, hybrid work schedule, and aims to prepare successful candidates for potential full-time roles post-graduation.

Qualifications

• Student pursuing at least a bachelor's degree in a relevant field.
• Community involvement or voluntary experience is a plus.
• Strong GPA and excellent communication skills required.

Responsibilities

• Perform varied actuarial functions for Group lines of business.
• Assist in pricing, product development, and rate adequacy analysis.
• Develop summaries of data for analysis and reporting.

Skills

Strong GPA

Excellent verbal and written communication skills

Solid work ethic

Motivation to gain experience in the insurance industry

Community involvement or voluntary experience

Education

Bachelor's degree in Computer Science, IT, Data Science, or related field

Job description

Job Responsibilities and Requirements

Our Summer Intern Program is a ten-week practical experience that offers you an opportunity to gain knowledge about Reliance Matrix's business, mission, and culture. The program is designed to provide participants an experience in an extremely dynamic environment through collaboration and interaction with senior leadership, managers, cross-functional teams, and other interns.

Actuarial Internships with Reliance Matrix

• With supervision, the Actuarial Intern performs varied actuarial functions for Group lines of business with an emphasis on extraction and summary of data to support development of analysis of mortality, morbidity, persistency, and expenses.
• Other functions include supervised assistance in pricing, product development, and aggregate rate adequacy analysis.
• Develops summary of data to support quarterly loss experience analysis for distribution to Underwriting and Claims.
• Supports development of in depth loss experience analysis to drive continuous improvements to manual rate basis and rating/underwriting structure and practices.
• Gathers data to enable reporting of case level adjustments to manual rate basis.
• Develops summaries of persistency results by selected parameters.
• Gathers and summarizes data needed to support periodic expense reviews.
• Develops reports summarizing financial results by critical parameters including sales office, broker, and client.
• Develops and maintains actuarial databases required to perform desired analyses.
• Provides data summaries to support pricing and product development projects as required.
• Provides assistance with system change testing.
• Provides ad hoc support to Sales and/or Underwriting as required.

Program Benefits

• Hybrid Office/Remote Work Schedule
• Paid Internship Opportunity
• Opportunity to discuss full-time employment after graduation for top performers
• Targeted business training for successful professional skills

Internship Requirements

• Student pursuing at least a bachelor's degree in Computer Science, Information Technology, Data Science, or related field.
• Strong GPA
• Excellent verbal and written communication skills
• Work, community involvement, or voluntary experience (Insurance industry experience a plus)
• A solid work ethic, positive attitude and desire to succeed
• Motivation to gain experience in the insurance industry

The expected hiring range for this position is $23.00 - $25.00 hourly for work performed in the primary location (Philadelphia, PA). This expected hiring range covers only base pay and excludes any other compensation components such as commissions or incentive awards. The successful candidate’s starting base pay will be based on several factors including work location, job-related skills, experience, qualifications, and market conditions. These ranges may be modified in the future. Work location may be flexible if approved by the Company.

EEO Statement

Reliance Matrix is an equal opportunity employer. We adhere to a policy of making employment decisions without regard to race, color, religion, sex, national origin, citizenship, age or disability, or any other classification or characteristic protected by federal or state law or regulation. We assure you that your opportunity for employment depends solely on your qualifications.