Insurance & Actuarial Science

Insurance & Actuarial Science

Selby Jennings: A Specialist Talent Partner in Insurance & Actuarial Science Recruitment

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 financial insurance. Selby Jenningsโ€™ extensive portfolio, specialist salary and benefits knowledge, and expertise make us the best insurance and actuarial 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.

Defined Benefits Senior Consultant

Key Responsibilities Manage a book of business as defined in yearly goals. Assign tasks in Work flow and manage due dates. Respond to client communications within 1 business day. Build strong client relationships & ensure needs are met. Prepare and send client communications regarding relevant events or issues. Experience & Skills Needed Minimum 5+ years in defined benefits or defined contributions Strong understanding of plan administration, compliance testing, and pension law. Experience with defined benefits & defined contributions. Independent decision-making on client issues. Excellent verbal & written communication. Proficient in Windows, Word, Excel. Team player with a desire to grow.

US$80000 - US$85000 per year
Dresher
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Claims Manager

We are currently working with an MGA seeking a strategic Claims Manager to oversee and optimize the claims process. In this role, you will work with TPA adjusters, insurance carriers, and internal teams to manage the claims process. 5 years minimum of property and liability claims experience is required.

US$85000 - US$105000 per year
United States of America
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VP, Actuary

Job Opportunity: Life Products Actuary (AVP/VP) Are you a seasoned actuary with a passion for life insurance product development? Join our team as an AVP/VP Life Products Actuary and lead strategic initiatives to enhance our life insurance offerings. Key Responsibilities: Lead and evaluate complex actuarial processes and frameworks. Develop strategies to improve life insurance product development. Anticipate and address business challenges and regulatory issues. Ensure actuarial techniques and company policies are appropriate. Monitor profitability and risk positions of life insurance products. Represent the company on industry committees. Lead and mentor actuarial team members. Qualifications: Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field. Minimum 10 years of relevant actuarial experience. ASA designation and MAAA membership. Proven leadership experience. Join us and be recognized as a company expert in actuarial specialization. Apply now to make a significant impact in the life insurance industry!

Negotiable
Texas
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Manager, Statutory Reporting

Do you have expertise in financial reporting? Are you passionate about working in a mid-to-large-sized company that leads the global market in commercial and personal insurance solutions? If so, we have the perfect opportunity for you! You'll have the chance to support individuals, businesses, and communities, making a significant impact in an organization that prioritizes positive work-life balance. This firm is looking for a visionary leader to lead their statutory reporting department. What you'll be doingโ€ฆ Preparing and reviewing monthly, quarterly, and annual financial statements, with a specific focus on STAT reporting Working closely with internal and external stakeholders to support the statutory controller ship and key reconciliations Closey analyzing industry trends and regulatory changes to stay current with accounting standards, while helping to implement best practices across the wider organization What you'll need to be successfulโ€ฆ 5+ years of experience in the P&C Insurance Industry Expert knowledge of US STAT reporting within the Insurance industry Strong management experience, having led and managed direct reports What makes this role specialโ€ฆ You will be joining a fast-paced leading P&C insurance company This is a hybrid position where you will have remote days to maintain a flexible working environment. You will oversee various accounting processes and ability to train and lead a team

US$135000 - US$150000 per year
New York
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Reinsurance Accounting Manager

Are you a finance professional with expertise in life reinsurance accounting looking for your next challenge? Our client is seeking an exceptional individual to lead a dynamic team as the Reinsurance Accounting Manager based out of Miami, Florida. This role offers the chance to make significant contributions within one of the top Life and Annuity Reinsurance firms. What you'll be doing.. - Oversee and manage all aspects of life reinsurance accounting - Provide leadership and direction to a dedicated small team of professionals - Ensure accurate reporting related Schedule S filings - Utilize deep understanding annuity products to enhance financial strategies What you'll need to be successful.. - 6+ years of accounting experience working within the Life and Annuity Insurance Industry - Minimum of 2 years management experience - Strong technical acumen and ability to work with senior leadership

US$150000 - US$200000 per year
Miami
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Director of Finance Systems

Is the idea of joining a fast-growing company and adding value to a dynamic team appealing to you? Can you implement finance and accounting reporting tools, data models, and data mapping? Are you ready to be the go-to expert for strategizing and designing these tools? Would you thrive in a role that reports directly to the CFO and requires onsite presence three days a week, with the flexibility to work remotely two days? If so, you might be the perfect fit for our team! What you'll be doingโ€ฆ Develop and design management processes and oversee configuration of reporting applications Work with external and internal partners to integrate financial systems and data processes Perform workshops and understand pain points along with issue resolution What you'll need to be successfulโ€ฆ Extensive knowledge of finance and strategic thinking 5+ years of management experience within the life and annuity insurance industry 3+ years of EPM/ERP technologies, ideally using Oracle What makes this role specialโ€ฆ You will be joining a rapidly expanding team and will have amazing growth opportunities within the firm This is a hybrid basis position where you will have remote days to maintain flexible working environment.

US$150000 - US$180000 per year
Charlotte
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VP Broker, Reinsurance

In this position we are seeking an VP - Broker, to become a member of our dynamic and successful reinsurance broking team working with existing clients and developing new business with insurance companies, MGAs and retail brokers across all lines of business. How You'll Contribute Oversight of preparation of insurance and reinsurance submissions for new and renewal accounts Assist with negotiation during the quotations process and placement process of both reinsurance and program placements. Liaise between Insurers and Reinsurers to handle day to day issues, with responsibility for all aspects of service and support clients. Maintain records of outstanding issues, monitor progress and ensure deadlines are being met. Represent Beach at client meetings, presentations, audits with Reinsurers, and other events as appropriate Work with contracts department to prepare treaty contracts and program agreements. Maintain ongoing relationship with clients and reinsurance and insurance markets Work with internal Claims, Operations and Finance departments to ensure administration of accounts is going smoothly and help resolve issues that require broker assistance. Coordinate analyses of client portfolios with actuarial team to determine appropriate reinsurance/insurance needs. Assist in the development of new relationships and conversion of new business opportunities. This description is not meant to be all-inclusive and may be modified from time to time at the discretion of management. Requirements Relative Experience in a similar role Bachelor's or higher degree, preferably with a STEM major Proactive and execution oriented, taking initiative to start and complete new tasks. Takes ownership and responsibility for quality, completeness and accuracy of work. Dedicated and a collaborative team member. Motivated to learn and grow in an evolving market. Demonstrates reasonable level of technical ability and has the ability to work alongside actuaries and interpret actuarial results. Has a strong appreciation and understanding of current issues affecting the industry. Communicates in a clear and practical manner both verbally and in writing. Keen to develop new relationships and maintain regular contact with clients and prospects. Openly evaluates and challenges current processes and work practices with a view of making improvements. Ability to deal with challenging deadlines and execute ruthless prioritization effectively.

Negotiable
New York
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Associate Pricing Actuary - Specialty

Pricing Actuary opportunity for a widely recognized specialty insurance leader that delivers products and services for residential property - such as manufactured homes and specialty dwellings - and the recreational market, including boats, personal watercraft, classic cars, and more. Roles & Responsibilities: Complete actuarial and/or predictive modeling analyses appropriate for the functional area. May include rate filings, ultimate loss projections, pricing studies, risk capital modeling, portfolio analysis, and research projects. Lead projects/analysis requiring multiple resources including those who are not direct reports. Direct the modification and enhancement of existing applications to address specific issues. Coordinate and help focus and prioritize the use of actuarial and/or predictive modeling resources for tasks that are assigned. Direct the completion of required data preparation including data input. Identify complex data & operational issues requiring specialized actuarial attention and take action to address them. Manage and/or lead communication, documentation and coordination of information, resolution of technical issues, and activities between actuarial departments, as well as with internal & external colleagues (business units, IT, UMS, etc Lead in development of new methodologies, products and procedures. Maintain current knowledge of trends and products in the (re)insurance industries. Peer review technical actuarial and/or predictive modeling work and provide constructive feedback as needed. Coach less experienced employees as needed. Participate or lead in the training of others (underwriters, product analysts, accountants, actuaries, claims associates) on the use of models/studies/reviews and the interpretation of the results. Manage the work for those who are not direct reports including other actuaries, predictive modelers, programmers and support staff as needed. Pricing Experience Preferred. Education, Certifications & Designations: Bachelor's Degree in Mathematics, Actuarial Science, Economics, Finance, Statistics or related Field requiring modeling, programming, or quantitative analysis Membership in the Casualty Actuarial Society with the attainment of Associateship (ACAS) Membership in the American Academy Of Actuaries (MAAA)

Negotiable
United States of America
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Chief Actuary

The Chief Actuary will be overseeing the Actuarial Pricing Unit and Loss Reserving Unit. The five Business Units include: Bind, Excess Casualty, Garage, Inland Marine and Primary Casualty. The Chief Actuary position will be leading 7 direct reports and an executive stakeholder influencing the business intelligence team of 10. Knowledge/Skills/Abilities Expert actuarial background, with advanced knowledge of generally accepted actuarial principles and practices for property/casualty loss reserving. Expert actuarial background in property and casualty product pricing. Strong analytical and problem-solving skills. Excellent verbal and written communication skills. An ability to deal confidently with all levels within the company, including senior executives, auditors, independent actuaries, underwriters, reinsurers, Board members and A. M. Best Company. Education/Experience/Certifications Bachelor's Degree required, preferably in Actuarial Science, Mathematics, Statistics or a related field. Post-graduate degree would be beneficial. Fellow of the Casualty Actuarial Society (FCAS) and Member of the American Academy of Actuaries (MAAA) preferred. At least fifteen years of actuarial experience in loss reserving and pricing functions within the commercial property and casualty insurance business or with an actuarial consulting firm, with excess and surplus lines strongly preferred. Experience with managing and developing high-performance teams across multiple offices.

US$300000 - US$450000 per year
United States of America
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Actuarial Pricing Manager

The Actuarial Manager will manage and supervises actuarial analysts by assigning work, providing technical guidance and other responsibilities to include performance management, training, and mentoring. Performs highly complex pricing analyses. Prepares and analyzes complex internal management information. This position works closely with the Actuarial VP, Actuarial Director, Product Managers, Data Scientists, business partners, and senior leaders to develop appropriate pricing and product strategies. Bachelor's degree in actuarial science, mathematics, statistics, economics or related field, or the equivalent in related work experience. 5-7 years of experience as an actuarial analyst, preferably Property & Casualty experience. Associate (ACAS) or Fellow (FCAS) of the Casualty Actuarial Society or the equivalent from other organizations or demonstrates equivalent knowledge. Experience managing actuarial analysts. Strong understanding of actuarial ratemaking methodologies and practices Perform actuarial pricing analysis independently and makes reasonable assumptions/judgments. Proficiency in SQL, SAS, VBA, Python or R.

Negotiable
United States of America
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E&S Actuary

Recent ACAS or FCAS or other insurance industry credentials. 5-15 years of experience in reinsurance, broking, consulting or primary markets. Experience in property pricing and/or underwriting, with casualty experience or experience in reserving or working with underwriters and product managers a plus. Technical background should include strong programming ability with Tableau, SQL, VBA, and Python a plus.

US$130000 - US$200000 per year
Jersey City
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Actuarial Analyst 1

Title: Actuarial Analyst 1 Location: Remote Our client is a leading insurance carrier looking to bring on an actuarial analyst to the team! This opportunity includes a competitive salary, bonus, and generous benefits. Ideal candidates for this role will have 1-2 years of experience with pricing or reserving, exam progression as well as strong communication skills. This role is active, so qualified candidates please apply as soon as possible!

Negotiable
United States of America
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News & Insights

Insurance and Actuarial Talent Trends in 2024 Image
hiring advice

Insurance and Actuarial Talent Trends in 2024

One clear trend has emerged in the insurance industry in recent years โ€” Artificial Intelligence (AI) has well and truly arrived. You may have already seen evidence of this, such as algorithms in the actuarial back office to chatbots for claims resolution. AI disruption can be good for businesses 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 optimize 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 providing data points and using AI 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 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 NeededSome people have concerns that AI technology will eliminate human jobs completely for certain professions, including putting actuaries out of work. While machine learning has taken away certain repetitive or monotonous tasks, current technology still requires people to step in to guide and govern. In other words, machines wonโ€™t completely eliminate actuarial teams in the foreseeable future.As mentioned before, weโ€™re seeing trends where actuaries need to embrace these solutions 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 human 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 could shortly 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 validating solutions for the future.Why Choose Us?During a time of 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.Selby Jennings is a leading Insurance & Actuarial Science recruitment talent partner in 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 recruitment process is in safe hands.Donโ€™t miss out on hiring top insurance and actuarial management professionals or your next potential career move if you are an insurance professional considering opportunities.Selby Jenningsโ€™ extensive portfolio, expertise, and specialist salary and benefits knowledge make us the best insurance and actuarial science talent partner.

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career advice

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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