Insurance & Actuarial Science

Insurance & Actuarial Science

Selby Jennings: A Specialist Insurance & Actuarial Science Recruiter Talent Partner

Selby Jennings Jennings is a leading Insurance & Actuarial Science recruitment talent partner for financial sciences & services. Our global Insurance & Actuarial Science team provides permanent, contract, and multi-hire recruitment from our offices across three continents.

For more than 20 years, clients and candidates have had peace of mind that the specialist Insurance and Actuarial recruitment process is in safe hands.

During a time of automated machinery and innovative technology, the demand for insurance and protection has increased due to the exposure of new risks. To develop policies that reduce, manage and analyze risk effectively, companies must seek to attract top insurance and actuarial talent. Around 2,400 insurance and actuarial job openings are projected each year as businesses in the US compete for the best risk managers and problem solvers.

Donโ€™t miss out on hiring top insurance and actuarial management professionals or becoming the next candidate to secure a job in asset management. Selby Jenningsโ€™ extensive portfolio, specialist salary and benefits knowledge, and expertise make us the best Investment Management recruiter talent partners for insurance and actuarial management jobs.

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Benefits of working with Selby Jenningsโ€™ global Insurance & Actuarial Science team

We are a specialist Insurance and Actuarial Science recruiter talent partner. Among the many benefits of working with Selby Jenningsโ€™ global Insurance and Actuarial Science team are:

Experience

Experience

We have nearly 20 years of experience as a leading talent partner in financial sciences & services.

Network

โ€‹Network

A vast, global network of the best, in-demand professionals, working with the worldโ€™s largest financial institutions to innovative fintech start-ups and beyond.โ€‹

Knowledge

โ€‹Knowledge

Our award-winning talent specialists offer bespoke, tailored guidance on the latest hiring trends and industry news to help you achieve your goals.

At Selby Jennings, we pride ourselves on establishing long-term partnerships founded on trust, integrity, and mutual success. Our Investment Management headhunters are dedicated to delivering custom solutions designed to meet your specific needs, offering adaptable strategies to fit your hiring protocols. Whether you're looking for rapid placements in pivotal Insurance & Actuarial Science roles or seeking comprehensive talent acquisition solutions, our resources and expertise are primed to deliver. Kickstart your recruitment journey with us by submitting your vacancy today.

Begin the process to solve your talent needs in the Insurance & Actuarial Science field by filling out our form today.

Insurance & Actuarial Science Jobs

In the complex world of finance, Insurance & Actuarial Science professionals play a key role. As risk assessment and financial security become more critical, individuals with these skills are highly sought-after. Partnering with Selby Jennings, an expert in Insurance & Actuarial Science, could significantly advance your career. Browse our available roles or submit your resume, and we'll reach out when a suitable opportunity arises.

Commercial Lines Field Underwriter

Our client is is a multi-line insurance provider based in Pennsylvania (Pittsburgh, PA and Lancaster, PA) and they are looking to add a Field Underwriter to their Commercial Insurance team. This person will focus on their middle-market business, building business relationships, and territory leadership.

Company car
Pennsylvania
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Senior Analyst, Insurance Risk Modeling

A leading life insurance company is looking to grow their Insurance Risk Modeling team by adding a Sr. Analyst to the group. This employee will be instrumental in developing insurance liability models used in pricing, valuation, hedging and ALM. This role can be hybrid from multiple offices within the US. Please apply if interested in learning more! Responsibilities: Develop insurance liability models Help on board various transactions into the Risk platform Perform liability stresses under different lenses Support new product launches and ensure the risk models are up to date with regular rate changes and new product features Qualifications: 2+ years in a diversified life and/or annuity company 2+ years of experience with actuarial modeling software (ALFA, AXIS, Prophet, etc.) Previous experience in hedging or ALM preferred Strong product knowledge of either life or annuity products

Negotiable
United States of America
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Manager of FP&A and Managed Care

A leading leading healthcare provider in Florida is looking to hire a Manager of FP&A. This organization is committed to delivering exceptional care and service to our patients and communities. Position Overview: Reporting to the Director of FP&A/Managed Care Operations, the Manager will lead all FP&A activities and coordinate with health plan partners and TVH departments. Key Responsibilities: Manage FP&A Staff Coordinate financial and operational metrics for Primary Care and Specialty Care monthly Provide excellent customer service to TVH internal customers Manage monthly forecasting and annual budget process Act as point of contact between TVH and health plans for payor data Manage membership reporting and validation, panel assignments Manage clinician bonus reporting, payments Oversee commissions reporting, payments Oversee FP&A team process documentation Prepare monthly cash flow projections Ensure TVH meets current and future payer requirements Other duties as assigned Requirements: Bachelor's degree in Accounting or Finance; MBA preferred Minimum five years of supervisory experience Experience in the medical group taking a global risk with Medicare Advantage health plan Experience in high-growth organization Skills: Strategic thinker, problem solver Strong written and verbal communication skills Highly organized Proficient in MS Excel, Word, and PowerPoint

US$100000 - US$115000 per year
Florida
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AVP - Actuarial Product Pricing

A leading insurance company is looking for an AVP of Annuity Pricing to join their team to be responsible for the pricing of an industry-leading product portfolio. You will engage with key stakeholders across multiple functions to maintain both profitability and competitive products to find creative solutions. This role can be worked out of Des Moines, Indianapolis or Hartford. Please apply if interested in learning more! Responsibilities: Perform timely and robust product pricing of Annuity products Balance competitive and pricing objectives to achieve overall company objectives Collaborate with Product Implementation team, Product Development team and Inforce Management team Implement best practices in pricing methodologies Qualifications: FSA preferred Annuity pricing experience required MG-ALFA experience preferred 8+ years of actuarial experience

Negotiable
United States of America
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Actuarial Analyst II

My client, a Leading Not-for-Profit Health Plan is looking to add an Actuarial Analyst II to their team! Primary Responsibilities: As an Actuarial Analyst II, you will play a pivotal role in supporting various functions typical of a qualified health actuary. Your duties will include: Calculating Incurred But Not Reported (IBNR) Developing rates and filings for regulatory bodies Offering recommendations for group rating changes Supporting the development, implementation, and maintenance of new products, services, and systems Providing actuarial insights to corporate management Reporting on the financial status of entire products or segments Required Qualifications: To be successful in this role, you must have: Bachelor's Degree Minimum 2 years of experience in Actuarial Analysis Completion of at least three Actuarial exams with progress towards Society of Actuaries credential Experience in at least three of the following areas: IBNR and reserve setting, pricing and filing support for individual, small group, and large group products, Medicare Advantage Bid filing, Managed Medicaid programs evaluation, provider contract evaluations, provider profit/withhold settlement evaluations, product experience monitoring, and reinsurance/stop-loss reporting If Interested, please send across your resume I look forward to connecting!

Negotiable
United States of America
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Managing Actuary - Medicare Part D

Job Title: Managing Actuary - Medicare Part D Company: Leading Blue Plan Location: Remote from Several States Position Overview: My client is seeking a highly skilled and experienced Actuarial Manager to lead our Medicare Part D division. As the Actuarial Manager, you will play a crucial role in providing strategic direction, overseeing actuarial analysis, and ensuring compliance with regulatory requirements within the Medicare Part D program. This position offers an exciting opportunity to drive innovation, influence business decisions, and contribute to the success of the company in serving Medicare beneficiaries. Key Responsibilities: Strategic Leadership: Provide strategic direction and guidance for the Medicare Part D program, aligning actuarial strategies with organizational goals and objectives. Actuarial Analysis: Lead a team of actuaries in conducting complex actuarial analysis related to Medicare Part D, including pricing, reserving, forecasting, and financial modeling. Product Development: Collaborate with cross-functional teams to develop and enhance Medicare Part D products and offerings, ensuring competitiveness and alignment with market trends and regulatory requirements. Risk Management: Assess and manage the financial risks associated with Medicare Part D, including prescription drug costs, utilization trends, and regulatory changes. Compliance and Regulatory Oversight: Ensure compliance with all regulatory requirements and reporting obligations related to Medicare Part D, including CMS regulations and guidelines. Stakeholder Engagement: Build and maintain effective relationships with internal stakeholders, including senior leadership, product management, finance, and legal teams, as well as external stakeholders such as government agencies and industry partners. Thought Leadership: Stay informed about industry developments, emerging trends, and best practices in Medicare Part D and actuarial science, and provide thought leadership and strategic insights to the organization. Team Management: Recruit, develop, and mentor a high-performing actuarial team, fostering a culture of collaboration, innovation, and continuous learning. Qualifications: Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field. Master's degree or FSA designation preferred. 7+ years of actuarial experience, with a focus on Medicare Part D or related healthcare programs. Strong leadership skills with a proven track record of effectively managing teams and driving results. Deep understanding of Medicare Part D regulations, reimbursement methodologies, and market dynamics. Excellent analytical, problem-solving, and decision-making abilities. Exceptional communication and interpersonal skills, with the ability to influence and collaborate with stakeholders at all levels. Commitment to upholding ethical standards and promoting a culture of integrity and compliance.

Negotiable
United States of America
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Traded Risk Manager

Job Title: Traded Risk Manager We are currently seeking a highly skilled Traded Risk Manager to join our client's team. As a Traded Risk Manager, you will be responsible for overseeing market, credit, and liquidity risk in our client's insurance businesses across the region. You will collaborate closely with stakeholders in the business and various functions, contributing to regional projects aimed at supporting the growth of our client's insurance business in APAC. Key Responsibilities of a Traded Risk Manager: Collaborate with local, regional, and Group Insurance Risk, Wholesale Credit Risk, and Traded Risk functions. Support the development of risk appetite and risk mitigation strategies. Oversee balance sheet risks and investment activities. Monitor insurance portfolios and identify emerging market risk issues. Streamline market and credit limit structures into the Economic Capital framework. Handle ad hoc data and analysis requests. Contribute to risk management process enhancement. Assist in system/process implementation and promote best practices. Produce Management Information for meetings as needed. Requirements for the Traded Risk Manager: University degree holders. Practical exposure to Risk-Based Capital regimes and IFRS17. Quantitative skills in actuarial, advanced mathematics, or quantitative finance. Experience in risk management within the insurance industry. Excellent communication skills. Join our client and unlock your full potential.

Negotiable
Hong Kong
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Consulting Pension Actuary

Consulting Pension Actuary Remote My client, one of the industry's leading retirement consulting firms, is seeking a talented Enrolled Actuary to join their Pension team. Role Overview: As a Pension Actuarial Consultant, you will play a crucial role in providing expert guidance to clients on the design, management, and administration of retirement plans. This client-facing position requires a blend of technical proficiency and strong interpersonal skills. Additionally, you will have the opportunity to take on a leadership role, contributing to the growth and development of Actuarial Analysts within the firm. Responsibilities: Collaborate with clients to assess their retirement plan needs and develop customized solutions. Provide expert advice on plan design, compliance, funding strategies, and regulatory requirements. Lead client meetings and presentations, effectively communicating complex concepts in a clear and concise manner. Mentor and guide Actuarial Analysts, fostering their professional growth and development. Stay informed about industry trends, regulations, and best practices to ensure the highest level of service to clients. Requirements: Enrolled Actuary (EA) designation required. ASA or FSA credential preferred. 10+ years of experience in retirement consulting or related field. Strong technical skills with a deep understanding of retirement plan design and administration. Excellent communication and presentation skills, with the ability to build rapport with clients and colleagues alike. Demonstrated leadership abilities and a passion for mentoring others. If you're looking for a rewarding opportunity to make a meaningful impact in the retirement consulting industry, please send an updated resume

US$140000 - US$160000 per year
United States of America
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Pension Actuarial Analyst

Pension Actuarial Analyst Maryland/DC (Hybrid) My client is seeking a Pension Actuarial Analyst to join their growing team. This position offers the opportunity to gain actuarial consulting experience and work with leaders in the business. Responsibilities: Conduct actuarial valuations for multiemployer pension plans under the supervision of senior actuaries and consultants. Assist in special projects addressing emerging retirement plan issues. Develop and maintain actuarial valuation software, Microsoft Excel workbooks, and Microsoft Access databases. Analyze census data, liabilities, and assets to identify historical and projected trends. Prepare presentations to effectively communicate results to clients. Requirements: Bachelor's degree in Actuarial Science, Mathematics, Accounting, or related field. Minimum of 2 years of experience at an actuarial consulting firm preferred. Familiarity with defined benefit pension plans, especially multiemployer plans, preferred. Completion of at least 1 actuarial exam. Experience with ProVal (actuarial valuation software) is a plus. If interested, please send across an updated resume Looking forward to connecting!

US$60000 - US$85000 per year
Maryland
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Associate, Capital & Risk Management

Job Title: Associate, Capital and Risk Management Location: Seattle, WA About Our Client: Our esteemed client is a leading Catastrophe Insurance Company headquartered in Seattle. With a commitment to excellence and a focus on providing innovative risk management solutions, they are seeking a talented Associate to join their Capital and Risk Management team. Position Overview: Our client is in need of an Associate with 2-3 years of experience in the insurance industry to support their Capital and Risk Management efforts. This individual will play a crucial role in analyzing risks associated with catastrophic events and implementing strategies to optimize capital allocation and ensure financial stability. Key Responsibilities: Work closely with the Capital and Risk Management team to develop and execute capital management strategies. Conduct quantitative analysis and modeling to assess the impact of catastrophic events on the company's portfolio and financial performance. Collaborate with cross-functional teams to gather data and perform risk assessments. Assist in the preparation of reports and presentations for senior management and external stakeholders. Support the implementation and maintenance of risk management frameworks and procedures. Qualifications: Bachelor's degree in Finance, Economics, Mathematics, Statistics, or a related field. 2-3 years of experience in the insurance industry, with exposure to capital management, risk assessment, or financial modeling. Strong analytical skills and proficiency in quantitative analysis. Excellent communication and presentation skills. Proficiency in programming languages (e.g., Python, R) preferred.

US$100000 - US$130000 per year
Seattle
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Senior Data Analyst - EPIC

A leading Healthcare Client of ours is seeking a Senior Data Analyst. The ideal candidate will have a high level of understanding of aspects of healthcare in a hospital setting, such as patient flow, bed management, and inpatient utilization management. The candidate should be able to take initiatives in identifying insights and opportunities by analyzing hospital key performance indicator metrics and present findings to hospital leadership. Key Responsibilities: Develop analytics on various hospital KPIs to share insights and opportunities with business stakeholders Develop EPIC RWB and Dashboards for clinical stakeholders Work on providing analytics from EPIC Grand Central module for hospital leadership Work to integrate disparate datasets involving utilization, bed management, and patient flow metrics from Clarity and Caboodle Work closely with Analytics Organization teams to develop BI self-service solutions for the business stakeholders Patient Flow Improvement Analytics Bed Management Analytics Work with Team Lead Analyst on collaborative projects to provide analytics to leadership Skills and Qualifications: High level of understanding of aspects of healthcare in a hospital setting such as patient flow, bed management, and inpatient utilization management Strong communication skills with attention to details SQL proficiency in authoring and reviewing code a must Epic certifications/proficiencies in one or more of the following: Epic Cogito Fundamentals, Cogito Tools Admin, Clarity Data Model, and Caboodle Data Model required Experience with analytical tools and BI systems (SQL, SAS, Tableau, Business Objects, Power BI etc.) in healthcare setting preferred Bachelor's or higher in a data and analytics affiliate field such as Business Statistics, Data Analysis, Finance, Information Systems, Computer Science, or similar field

Negotiable
United States of America
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Senior Actuarial Director - Life Pricing & Product Development

I am currently working with a Leading Life Insurer who is looking to bring on their first In-House Actuarial Hire. In this position, you will play an integral role in the business's success by leading all pricing & product design efforts for their Traditional Life products. Responsibilities: Develop & maintain actuarial models to support the pricing, product development & profitability analysis Analyze data, mortality trends and market dynamics to inform product design and pricing decisions Work with internal teams to develop new products and revise existing features Help lead Reinsurance efforts and negotiate pricing and treaties What you will need: Actuarial Designation, FSA preferred. 10+ years of relevant actuarial experience ideally with a focus on Pricing/Product Development Extensive understanding of Life products and financial reporting requirements Proficiency in actuarial modeling systems and practices, open to any modeling software Strong problem-solving & decision making abilities as this will be an independent role

Negotiable
United States Virgin Island
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News & Insights

Become Part of the Actuarial Scientist Community with Selby Jennings Image
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Become Part of the Actuarial Scientist Community with Selby Jennings

The world of actuarial science is dynamic, intricate, and holds the promise of a fulfilling career for those who are talented in quantitative analysis and have a knack for problem-solving. And what better way to dive into this promising career than joining the Selby Jennings Data Architect Community? Here's why:Why Join the Selby Jennings Data Architect Community?Exclusive Club: Joining Selby Jennings means becoming part of a unique community, an exclusive club that offers its members myriad benefits.Regular Updates: Stay ahead of the curve with exclusive updates on the latest trends in the data architecture landscape.Webinars & LinkedIn Lives: Engage in enlightening sessions, getting firsthand knowledge from industry leaders and experts.Reports: Access meticulously curated reports, giving you in-depth insights into industry shifts, best practices, and new innovations.Emerging Skills Training: The data landscape is ever-changing. Stay competitive with insights into emerging skills and tools.Mentorship Opportunities: Benefit from personalized mentorship, helping you navigate your career journey and scaling new heights in your professional growth.JOIN THE EXCLUSIVE DATA ARCHITECT COMMUNITYResponsibilities of an Actuarial ScientistActuarial Scientists play a crucial role in the financial planning and risk management sectors. Here's a snapshot of what they typically do:Compiling Statistical Data: Gathering relevant data to make informed decisions.Designing Investment and Pension Plans: Creating financial plans that ensure security and returns.Business Strategy Development: Drafting strategies that reduce risks and enhance profitability.Risk Analysis: Evaluating potential threats and devising ways to mitigate them.Estimating Economic Costs: Predicting the financial impact of unpredictable events.Policy Administration: Designing and overseeing insurance policies.Data Presentation: Producing clear visual representations of data and findings.Communication: Effectively explaining findings and recommendations to a variety of stakeholders.Essential Skills for an Actuarial ScientistTo excel in this field, an individual should possess:Numeracy Skills: Ability to deal with numbers effortlessly.Problem-solving Skills: Tackling challenges with innovative solutions.Tech Proficiency: Familiarity with advanced computer software and tools.Business and Financial Acumen: Understanding the financial sector's intricacies.Communication Skills: Conveying complex ideas simply.Research & Analytical Abilities: Delving deep into data to glean insights.Knowledge of Economics: Understanding global economic patterns and shifts.Qualification RequirementsA bachelor's degree in actuarial science, mathematics, statistics, or a related analytical field is typically essential given the role's complex nature.The Financial AspectsOn average, an Actuarial Scientist earns $117,774 annually in the US. However, factors like location, experience, and the employer can influence the actual compensation.Be a Part of the Future with Selby Jennings in the World of Actuarial ScienceAt Selby Jennings, our specialized Actuarial Scientist consultants have forged unparalleled partnerships with some of the leading names in the industry. Through these exclusive alliances, we provide a gateway to opportunities often beyond the reach of conventional avenues. Whether you aim to soar higher in your current trajectory or yearn for a fresh landscape, our robust connections guarantee that you gain entry to Actuarial Science jobs tailored to match your ambitions. Becoming a member of our community isn't just about securing a position; it's a significant stride in a career journey meticulously designed for you. If a shift in the domain of actuarial science is on your horizon, now is the prime time to immerse yourself in our community. Your ideal role could be on the horizon, possibly the one you've dreamt of.Eager to pioneer your path in the realm of actuarial science? Submit your CV without delay and harness the power of the Selby Jennings network. Dive into premier Actuarial Scientist opportunities and stay ahead of the game.

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Insurance-and-Actuarial

The Future of AI in Actuarial Science Services

In the rapidly evolving landscape of finance and services, one technological advancement stands out prominently: Artificial Intelligence (AI). The integration of AI in various industries has been reshaping processes, optimizing outcomes, and revolutionizing the way we conduct business. Actuarial science, a discipline at the crossroads of mathematics, statistics, and economics, is no exception to this transformative wave. In this blog, we will delve into the future of AI in actuarial science services, exploring its potential applications, its impact on jobs, and the pros and cons it brings to the industry.The AI Revolution in Actuarial ScienceAlgorithmic TradingOne of the most visible applications of AI in actuarial science is algorithmic trading. AI-driven algorithms analyze market trends, historical data, and real-time events to make informed trading decisions. This not only enhances the speed and accuracy of trading but also reduces the influence of human emotions, leading to more consistent results.Fraud Detection and PreventionAI's prowess in data analysis and pattern recognition equips it to detect fraudulent activities in financial transactions. Machine learning algorithms can identify unusual behaviors, flagging potentially fraudulent actions for human investigation. As financial transactions become increasingly digital, the need for robust fraud detection systems has never been greater.Risk ManagementAI augments actuarial analysis by processing vast amounts of data to assess and mitigate risks. Predictive modeling powered by AI can estimate potential losses, helping insurers and financial institutions make more informed decisions about risk exposure and pricing.Customer ServiceChatbots and virtual assistants are becoming integral parts of customer service in the financial sector. These AI-driven interfaces offer real-time support, answer frequently asked questions, and guide customers through various processes. This not only enhances customer satisfaction but also allows human agents to focus on more complex tasks.Effects on Jobs and Hiring PracticesJob Displacement and ReskillingThe rise of AI in actuarial science does raise concerns about job displacement. As routine tasks become automated, some traditional roles may become obsolete. However, this also presents an opportunity for professionals to upskill and reskill. Adaptation to new technologies and learning to work alongside AI systems will be crucial for staying relevant in the industry.Explore how to write an actuarial scientist job description.Demand for Specialized SkillsAs AI becomes more prevalent, the demand for professionals with specialized skills in data science, machine learning, and AI will soar. Actuaries who can effectively harness AI's potential to extract insights from data and develop advanced predictive models will be highly sought after.Evolving RolesRather than rendering human roles redundant, AI is likely to reshape job descriptions. Actuaries might transition from routine number-crunching to more strategic tasks such as designing AI algorithms, interpreting AI-generated insights, and making strategic decisions based on AI recommendations.Remote Work and CollaborationAI's integration in actuarial science services has been catalyzed by the global shift toward remote work and collaboration. Cloud-based platforms and AI-powered communication tools enable actuaries to collaborate seamlessly across geographical boundaries, increasing efficiency and expanding the talent pool.Advantages and Disadvantages of AI in the Actuarial Science IndustryAdvantagesIncreased Efficiency: AI automates repetitive tasks, allowing actuaries to focus on higher-value activities, resulting in increased efficiency and productivity.Enhanced Decision-Making: AI's data-driven insights provide actuaries with a more comprehensive understanding of risk factors, enabling them to make more informed decisions.Personalized Customer Experience: AI-powered algorithms can analyze customer data to tailor services, providing a more personalized and satisfying customer experience.DisadvantagesJob Displacement: Automation of routine tasks could lead to job displacement for those unwilling or unable to adapt to the changing landscape.Data Privacy and Security Concerns: The increased use of AI requires handling large volumes of sensitive customer data, raising concerns about data privacy and security.Ethical Considerations: As AI algorithms make critical decisions, concerns about bias, transparency, and fairness in decision-making processes come to the forefront.The future of AI in actuarial science services promises a revolution that will shape the industry's landscape in ways we can't fully anticipate. While there are challenges to address, the potential benefits are vast. As AI becomes an indispensable tool in the actuarial toolkit, professionals who embrace these changes, upskill, and leverage AI's capabilities will be well-positioned to navigate the evolving industry successfully.Are you a business looking to harness the power of AI in your actuarial services? Do you seek expert guidance on integrating AI seamlessly into your operations? Our team of experts is ready to assist you. Request a callback today and let us help you unlock the full potential of AI in the world of actuarial science. The journey ahead is one of adaptation, innovation, and collaboration between human intellect and artificial intelligence.

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Insurance-and-Actuarial

How to Write a Actuarial Scientist Job Description

An Actuarial Scientist is responsible for applying mathematical skills to all areas of the social sciences, in order to evaluate risk and maintain the economic stability of both insurance and financial organizations. A key part of the role is to anticipate future events and take preventive measures to minimize risk and impact. For example, Actuaries carefully analyze past data to determine how much money should be set aside to cover potential financial losses and the consequences that come hand-in-hand with these losses. The role is becoming more and more competitive, with lots of opportunities for strong candidates. The most effective way of hiring and attracting top industry talent is by writing an accurate, well-informed Actuarial Scientist job description. After all, a job description is an essential part of the job application process and will help you determine whether potential candidates are suitable for the role. View our current Actuarial Scientist roles available here.Main responsibilities As an employer, you should always mention the main responsibilities that the successful candidate would be expected to fulfill in the role. An Actuarial Scientistโ€™s main responsibilities may include:Carefully analyzing statistical data Determining potential risks and identifying ways to reduce themWorking in compliance with financial regulationsCommunicating findings to clients and colleagues in a clear and concise mannerPreparing presentations and reportsMonitoring and developing processes and IT systems to ensure they are efficient.The contracted hours the successful candidate will be required to work each day and week should also be clearly mentioned within a job description and, if evening and weekend work is required, this should also be stated. Of course, the main responsibilities of an Actuarial Scientist will vary depending on the organization as well as industry needs and requirements. Clearly stating why our company expects from potential candidates helps streamline the recruitment process and attract applicants that are well-suited to your business. Skill and qualificationsMentioning the skills and qualifications that your vacant Actuarial Scientist position requires will also help to refine candidate selection. A competent Actuarial Scientist should typically possess the following skills:Excellent numeracy skills Sound research and analytical abilityThe ability to analyze complex data A high level of computer literacyExcellent written and verbal communication skillsExcellent organization skills Excellent investigative skills and problem-solving abilitiesAble to apply meticulous attention to detail to all works.The majority of successful Actuarial Scientists have a bachelorโ€™s degree or masterโ€™s degree in Actuary Science degree. However, many Actuarial Scientists have also studied finance, mathematics, or statistics. Explore the evolution of Actuarial Scientists and new in-demand skills here.How to write a job description When writing an Actuarial Scientist job description, always mention the job title and job summary. This information should attract, engage, and appeal to your desired candidate. Always outline the core responsibilities and daily duties of the position and what you expect from employees. In addition, you should introduce your company and its culture to show why a candidate should want to work for your organization. Highlighting your business also helps the candidate determine if they share mutual synergy, helping to attract the best candidate for the position. Including a job location and details of work hours and environment will optimize your job search results and applications as candidates will only apply if they are happy to comply. List the hard and soft skills required by your company to fulfill the vacant role. However, be mindful that too many niche requirements could dissuade potential candidates. Finally, mentioning a salary range and work benefits helps you stand out among other employers and attract best-fit applicants. How to hire the best candidateTo hire the best candidate for your Actuarial Scientist position, get in touch with a talent partner today. Talent partners have access to industry-leading talent and are experts in identifying the right candidates for niche positions. To find the talent you need,submit your open vacancy to the Selby Jennings vacancy page or request a call backto elevate your recruitment process.

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The Evolution of Actuarial Science: New In-demand Skills for the Modern Actuary

In the dynamic world of today, industries are continually evolving to keep pace with emerging trends and technologies. One profession that has experienced notable change over the years is actuarial science. The Society of Actuaries (SOA), the premier professional organization for actuaries in North America, has been at the forefront of this evolution, regularly updating its curriculum and certification requirements to reflect the shifting needs of employers and the insurance industry.Embracing Data Science and Predictive AnalyticsOne of the most significant updates to the SOA's curriculum in recent years has been the introduction of a course on data science and predictive analytics. This is a testament to the growing relevance of these disciplines in the actuarial profession.Data science encompasses a broad array of techniques for extracting insights from data, including machine learning, statistical analysis, and data visualization. Predictive analytics, a subset of data science, involves using these techniques to make predictions about future events based on historical data.For actuaries, these skills are increasingly valuable. The insurance industry is awash in data, from customer demographics and policy details to claims history and risk factors. By applying data science and predictive analytics techniques, actuaries can glean more profound insights from this data, enabling more accurate risk assessments and pricing models. They can also help insurance companies identify trends and patterns that can inform strategic decision-making.The Importance of AdaptabilityIn addition to technical skills, the SOA has also recognized the importance of adaptability in the modern actuary's skill set. As the insurance industry evolves, actuaries must be able to quickly learn and apply new techniques, adapt to changes in regulatory environments, and navigate the complexities of global markets. This is particularly important in today's rapidly changing technological landscape, where advancements like artificial intelligence and blockchain are continually reshaping the industry.To foster adaptability, the SOA's curriculum emphasizes problem-solving, critical thinking, and continuous learning. It encourages actuaries to stay abreast of industry trends and advancements and to be open to new ideas and approaches.Micro-Credentials: A New Path to Professional DevelopmentAnother innovative addition to the SOA's offerings is the introduction of micro-credentials. Unlike traditional certifications, which can take years to earn, micro-credentials are smaller, more focused qualifications that demonstrate proficiency in a specific area.For actuaries, these micro-credentials offer a flexible way to enhance their skills and knowledge. They can pursue micro-credentials in areas like data science, predictive analytics, or business strategy, adding to their professional toolkit without committing to a full certification program.This flexibility is particularly beneficial in today's fast-paced business environment, where the ability to quickly acquire and apply new skills can be a significant competitive advantage.Attracting and Retaining Top TalentThese changes to the SOA's curriculum reflect not only the evolving needs of the insurance industry but also the shifting expectations of top talent. Today's actuaries are looking for opportunities to grow and develop their skills, and they are attracted to employers that can provide these opportunities, as Taylor Carrasco, Executive Director here at Selby Jennings, explains: โ€œTo attract and retain these high-performing individuals, employers must offer compelling value propositions. This includes not only competitive compensation packages but also strong benefits, professional development opportunities, and a culture that values innovation and continuous learning.โ€Taylor also believes due to the evolution of the SOA's curriculum, professionals must adapt to stay relevant in a changing world: โ€œBy embracing new skills like data science and predictive analytics, fostering adaptability, and offering flexible learning pathways like micro-credentials, the SOA is ensuring that actuaries are well-equipped to navigate the challenges and opportunities of the modern insurance industry.โ€โ€‹To better understand the evolving landscape of the insurance industry download our latest report here. This comprehensive guide provides deeper insights into the trends that are reshaping the industry, from the rise of data science to the increasing importance of adaptability.If your looking for career progression take a look at our live career opportunities or submit your resume to become discoverable to our Insurance & Actuarial Talent Consultants here at Selby Jennings. This report is an excellent resource for understanding the skills and competencies that employers are seeking. It can help guide you in aligning your professional development efforts with these trends, making you more attractive to potential employers.If you are looking for talent request a call back today. This report offers valuable insights into the changing landscape and how you also retain top actuarial talent. It provides practical tips and strategies for navigating the challenges of the modern insurance industry and creating a compelling value proposition for prospective employees.Download Report

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Insurance-and-Actuarial

The Growing Necessity: Employer Value Proposition in Financial Sciences & Services

In today's highly competitive business environment, financial sciences & services organizations are facing increasing pressure to attract and retain top talent. The competition for talent is fiercer than ever, with companies vying for the best and the brightest to drive innovation, customer satisfaction, and overall growth. One critical aspect that is quickly gaining traction in this landscape is the Employer Value Proposition (EVP). At Selby Jennings, we have explored the importance of EVP in financial sciences & services, why it is becoming a necessity, and how organizations can develop and leverage a strong EVP to attract and retain top talent.The Importance of Employer Value Proposition in Financial ServicesEmployer Value Proposition (EVP) refers to the unique combination of benefits, rewards, and opportunities an employer offers to its employees in exchange for their skills, performance, and commitment. In the financial services sector, a strong EVP is particularly crucial due to the following factors:Intense Competition for TalentThe financial services industry is known for its high demand for skilled professionals. With the rapid pace of digitalization, companies require a diverse range of expertise, from Quantitative Research & Trading to financial technology experts. A strong EVP can help financial institutions stand out and attract top talent in a competitive market. High Employee ExpectationsToday's workforce, expects more than just a competitive salary. They are looking for purposeful work, opportunities for personal and professional growth, work-life balance, and a supportive work environment. A compelling EVP that addresses these expectations can help financial services organizations retain their best employees.The Changing Landscape of Financial ServicesThe financial services industry is undergoing significant changes with the advent of fintech, blockchain, and artificial intelligence. A strong EVP can help organizations adapt to these changes by attracting employees with the required skill sets and fostering a culture of continuous learning and innovation.Creating a Strong Employer Value Proposition in Financial ServicesTo develop an effective EVP that resonates with employees and potential candidates, financial services organizations should consider the following steps:Understand Your Target AudienceBegin by identifying the type of talent you want to attract and retain. This could include specific skill sets, experience levels, or even cultural fit. Once you know your target audience, you can tailor your EVP to address their unique needs and preferences. Assess Your Current OfferingAnalyze your organization's existing rewards, benefits, and opportunities. Identify gaps and areas for improvement, and ensure that your EVP encompasses all aspects of the employee experience, from compensation and benefits to growth opportunities and company culture.Communicate Your EVP EffectivelyA well-crafted EVP is only as effective as its communication. Make sure your EVP is consistently communicated through all recruitment channels, as well as internally to current employees. This includes job postings, career websites, social media, and employee testimonials.Regularly Review and Update Your EVPAs the financial services industry evolves, so should your EVP. Continuously evaluate and update your EVP to keep it relevant and in line with industry trends, employee expectations, and organizational objectives.Selby Jennings excels in presenting Employer Value Propositions (EVP) to candidates, ensuring that businesses stand out in the competitive market. Our team of experts understand the importance of aligning your organization's values, culture, and growth opportunities with top talent. By leveraging our extensive network and industry insights, we're able to effectively showcase your business's unique advantages to attract and retain the best candidates. Don't miss the opportunity to work with a partner who will elevate your hiring process - request a call back today to explore how Selby Jennings can drive exceptional talent to your business.

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Highlights

Phaidon International Findings

โ€‹As a leading talent partner, we keep our finger on the pulse when it comes to hiring trends, and 2022 was no exception. It has never been more important for companies to understand what business-critical professionals are thinking when it comes to making career changes, what compensation theyโ€™re after, and what benefits they really desire. We surveyed our vast, global network of the best, in-demand professionals, and came up with a number of valuable insights that employers need to know about if they want to attract the best talent, and just as critically, keep them. Discover what is motivating top talent around the world right now with our highlights across Financial Sciences & Services.Download your copy of this report by completing the form below:โ€‹

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Insurance-and-Actuarial

Insurance and Actuarial Talent Trends in 2019

โ€‹One clear trend emerges in the insurance industry โ€” Artificial Intelligence has arrived. You may have already seen evidence of this such as algorithms in the actuarial back office all the way to chatbots for claims resolution. The AI disruption can be good for talent in this sector, as those who embrace these tools can stand out among the sea of competitors.Using AI to Increase CompetitivenessAI has typically been about using machine learning to automate, iterate and optimizing models. In other words, AI insurance models feed off previous real-world events. The assumption here is that as AI technology matches risk data points to claims data points, future events will emulate the past. What this means is that success depends on talented actuaries to provide data points and using AI in order to create pricing and instigate appropriate checks and balances. Those who embrace AI technology and use it to empower companies could evolve faster and capitalize on creating the best possible product.Actuaries need to embrace AI in order to communicate effectively on how different risks can impact customers and price points. As more data and tools will become available, the industry will still rely on actuaries to process cases.Humans Are Still NeededThere are some who predict that AI technology will eliminate human jobs completely for certain professions, including putting actuaries out of work. While machine learning has taken away certain tasks, current technology is still at a point where it needs humans to step in to intervene and govern. In other words, machines wonโ€™t completely eliminate actuarial teams in the foreseeable future.Like mentioned before, weโ€™re seeing trends where actuaries need to embrace these solutions โ€” no matter how crude or incomplete they may be โ€” so that machine learning becomes a tool that helps to enhance the quality of their work and therefore the organization. Companies will look to these skills as AI continues to evolve.Evolved RolesEven though machine learning will get more sophisticated, it cannot replace humans completely. Risk and claims data points are complex and there is no evidence so far that points to machine learning being able to come up with the types of judgment or innovation needed, including asking thought-provoking questions or thinking up worst case scenarios.Machine learning will require actuaries to tackle new problems or create new opportunities for their companies. Instead of analyzing data points as a skill, top talent in the near future could be hired for their critical thinking and problem solving skills such as market price reconstruction or innovative concepts to ensure customer retention.Thatโ€™s not to say tasks, such as fraud detection and advanced claims handling, will be taken over by AI anytime soon. Companies will still need actuaries who can use their current skill set. However, as more companies embrace machine learning, theyโ€™ll be looking towards talent who can keep up with trends and are willing to take on roles where it involves predicting and validate solutions for the future.Get in touch with a Selby Jennings representative today to learn how you can connect with forward-thinking talent.------------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries.ย Contact usย to find out how Selby Jennings can help you.

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Insurance-and-Actuarial

Actuarial Market Update - Life & Annuities

โ€‹OverviewAs we move into Q2, our team wanted to highlight a number of trends across the market that are affecting where talent pools are gravitating. We are currently in one of the most buoyant job marketscrossthe U.S. and organizations have started to pull out all the stops to attract and retain the best talent. One method that has become more popular over the past few months is allowing candidates to have the option to work remotely. The other issue that has put a strain on available talent is the appetite for organizations to sponsor visa candidates. With the expedited transfer process recently suspended, more and more companies are relying on organically growing the businesses or focusingon campusrecruiting where candidates will not require any work sponsorship.Roles in DemandGiven the time of year, we anticipate the market to be flooded with new FSAโ€™s in the coming months and most of these candidates are getting a jump on the competition by putting their names out to recruiters and companies prior to exam season, so they are ready to interview once they achieve their next designation. We are days away from the new class of ASAโ€™s being published and with changes to the exams in the coming months, companies are anticipating this class to produce an immense number of new actuaries.From a company perspective, most hiring managers are seeking candidates with strong backgrounds in Modeling and Valuations and demand is coming from organizations both large and small. The 7-10 year mark has been the key level of seniority that everyone is seeking as most have already searched internally for an organic hire, but end up going to market for someone with a deeperskillset.Additionallywe are seeing a recent push for Valuation, Governance and Regulatory talent from the 4-7 year mark, typically with some of the smaller shops. It has been interesting to see candidates who have come from a traditional actuarial background interested in making the switch to a non-traditional role.Apart from the typical hubs in the Midwest and the Northeast, we are seeing a pretty big push for talent in the Texas and Southeast markets. Organizations have realized that irrelevant of location, good candidates are going to achieve competitive salaries even if they in a lower cost of living location. This has helped drive the base salary figures up for candidates in the Midwest, wherecostof living is substantially cheaper than NYC, or more traditional financial hubs. However, even with a more level playing field from a base compensation perspective, candidates have proven to be focused on all in packages rather than just one element. Where companies have recently differentiated themselves has been around the non-financial benefits to sweeten an offer. Thingslike,work lifebalance, remote work capabilities, upward mobility and number of vacation days have proven to be a big deciding factor for about 70% of the candidates we have placed in the past year. On the financial sides of incentives, candidates are focused on bonus potential,long termincentives, and exam support.Hiring and Search AdviceGiven how competitive the market currently is, we recommend that hiring managers start to get a jump on their competition by making sure the interview process is quick and efficient. A number of our clients have lost out to other offers that were able to turn around a full interview process in under 14 days. Additionally, we also adviseto putyour best foot forward from anย offerย perspective from theย get go. Candidates tend to feel more appreciated when they are presented with a strong offer rather than having to go back and forth trying to negotiate.From a candidate perspective, we have seen and continue to recommend that candidates jump into the market a bit early. Even if you have not received your next designation yet, or want to start a search in the summer months, the time is now to start laying theย ground work, putting your name in the market and test the waters. We have seen that candidates who may be lighter on experience have a better chance of securing their dream job if they get ahead of the mass rush of resumes that tends to hit the market post bonus and exam season when the competition is extremely fierce.Outlook Moving ForwardWe anticipate that most of the hiring between now and the summer months will lean more towards the larger institutions with a wave of turnover in the middle of May once exam season wraps up. The majority of the roles in demand will remain at the 4-7 and 7-10 year mark with the majority of hires occurring in the Midwest. Overall we anticipate 2018 to continue to be a strong year of hiring regardless of the visa or salary restrictions that most of the country must face.--------------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries.ย Contact usย to find out how Selby Jennings can help you.

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