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Actuarial Analyst

Job Location:  Kolkata
Job Description:  SkillSet: "actuarial exams", "data analysis", reporting, "actuarial consulting", "actuarial science".

Genozyme Pharmaceuticals Hiring -Actuarial Analysts

Job Description for Actuarial Analysts

Actuarial analysts who work in the insurance industry use statistical models to analyze data and calculate the probability of and costs associated with certain events, such as product failure, accidents, property damage, injury, and death. They use the results to design and price insurance policies. They also estimate the likelihood of catastrophic events, such as hurricanes, earthquakes, pandemics, and terrorist attacks, as well as assess the risk exposure of insurance companies.

Actuarial analysts who work in financial services design investment and pension plans, while those who work as independent consultants may help businesses lower their insurance premiums by reducing their risk exposure. Actuarial analysts perform data analysis and statistical modeling and present their findings to senior management or clients. These workers may also be responsible for compiling relevant data and writing reports.

Actuarial analysts are primarily employed by the insurance industry and often specialize in a particular area, such as health or life insurance. They are typically part of a team that includes business and insurance professionals such as underwriters and market research analysts. Most actuarial analysts hold full-time positions and work in offices, but consulting actuarial analysts may travel to meet with clients and work long hours to complete projects.

Educational Requirements

Some actuarial analysts hold bachelor's or master's degrees in statistics, math, or actuarial science, while others hold degrees in various quantitative fields such as finance or business. College-level courses in applied statistics, corporate finance, and economics are required for professional certification, but the U.S. Bureau of Labor Statistics (BLS) also recommends coursework in calculus, accounting, and computer science. Students who complete one or more internships while in school may have an edge when applying for entry-level positions.

Certification Requirements

Either the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS) must certify actuarial analysts. To reach the first or associate level of certification, an actuary must pass seven exams in the CAS or five exams in the SOA. This process usually takes 4-6 years, but students typically begin taking exams while still in school and start their first job after passing one or two exams. The second, or fellowship, level takes an additional 2-3 years to achieve. Continuing education seminars are required to maintain certification. Their employers may cover certification costs for actuarial analysts.

Required Skills

The BLS reported that actuarial analysts must have these qualities for success in the field:

Functional Area:  Statistics / Analytics
Experience:  0 - 2 years
Qualification: 
Salary:  3.0 Lakh to 6 Lakh INR
 
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Job Ad publication date: 03 Mar 2021