What does an actuarial assistant do?
An Actuarial Assistant compiles and computes data according to statistical formulas for use in actuarial studies. They calculate statistical and probability forecasts and models from data.
Actuarial assistant responsibilities
Here are examples of responsibilities from real actuarial assistant resumes:
- Maintain a monthly analysis of the fixed index annuity hedging program; used VBA to automate the process.
- Evaluate capitation agreements between provider groups and manage care plans, including commercial and Medicare populations.
- Assist in preparation of monthly financial statements; use of statutory and GAAP valuation methods.
- Create and run programs using SAS language to gather, analyze and communicate data across the company.
- Receive, confirm and implement various MG-ALFA model and assumptions updates.
- Prepare quarterly line analytic/performance report and GAAP earnings analysis.
- Create presentation template in VBA to facilitate communication of results.
- Analyze and implement data cleanup, effectively performing employee expense and benefit calculation.
- Gain preliminary predictive modeling experience through the project and utilize data mining techniques using SAS.
- Generate and analyze deferred annuity cash flow projections in single cell spreadsheets; validate projection results from actuarial vendor software PolySystems.
- Perform various complex calculations for senior management with high visibility.
- Present findings and recommendations, via Microsoft PowerPoint presentation, from research projects to senior management within the organization.
Actuarial assistant skills and personality traits
We calculated that 17% of Actuarial Assistants are proficient in VBA, GAAP, and Data Analysis. They’re also known for soft skills such as Analytical skills, Communication skills, and Computer skills.
We break down the percentage of Actuarial Assistants that have these skills listed on their resume here:
- VBA, 17%
Developed strategic test cases and validated results using Excel and VBA.
- GAAP, 8%
Calculated the Waiver of Premium Reserves for Statutory, GAAP and Tax reserves on a quarterly basis.
- Data Analysis, 7%
Involved in research, calculation, data analysis and reporting to current and prospective clients regarding their benefit needs.
- Liability Management, 7%
Participated in and supported Asset-Liability Management working groups.
- Financial Reports, 6%
Prepared and submitted Medicare Supplement state mandated financial reports.
- SAS, 6%
Use SAS to automate annual reports that are utilized by Actuarial Committee Members and other outside sources.
Common skills that an actuarial assistant uses to do their job include "vba," "gaap," and "data analysis." You can find details on the most important actuarial assistant responsibilities below.
Analytical skills. To carry out their duties, the most important skill for an actuarial assistant to have is analytical skills. Their role and responsibilities require that "actuaries identify patterns and trends in complex sets of data to determine the factors that affect certain types of events." Actuarial assistants often use analytical skills in their day-to-day job, as shown by this real resume: "create and provide loss development triangles analysis; calculate loss ratios for aig truck division"
Communication skills. Another essential skill to perform actuarial assistant duties is communication skills. Actuarial assistants responsibilities require that "actuaries must be able to explain complex technical matters to those without an actuarial background." Actuarial assistants also use communication skills in their role according to a real resume snippet: "created presentation template in vba to facilitate communication of results. "
Computer skills. Another skill that relates to the job responsibilities of actuarial assistants is computer skills. This skill is critical to many everyday actuarial assistant duties, as "actuaries must know programming languages and be able to use and develop spreadsheets, databases, and statistical analysis tools." This example from a resume shows how this skill is used: "tested and updated in-house actuarial valuation systems and various computer programs with exposure to record keeping systems and plan administration. "
Math skills. A big part of what actuarial assistants do relies on "math skills." You can see how essential it is to actuarial assistant responsibilities because "actuaries quantify risk by using the principles of calculus, statistics, and probability." Here's an example of how this skill is used from a resume that represents typical actuarial assistant tasks: "created monthly comparative statistics reports for corporate financial statements. "
Problem-solving skills. Another common skill required for actuarial assistant responsibilities is "problem-solving skills." This skill comes up in the duties of actuarial assistants all the time, as "actuaries identify risks and develop ways for businesses to manage those risks." An excerpt from a real actuarial assistant resume shows how this skill is central to what an actuarial assistant does: "provide solutions to complex life and pensions loss calculations. "
The three companies that hire the most actuarial assistants are:
- Cambia Health Solutions26 actuarial assistants jobs
- GuideOne Insurance9 actuarial assistants jobs
- AIG4 actuarial assistants jobs
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Compare different actuarial assistants
Actuarial assistant vs. Statistical clerk
A data analysis assistant works with data analysts and senior stakeholders to note data analysis requirements using these professionals' services. Also, data analyst assistants interpret data sets and monitor trends and patterns using statistical tools. These professionals correct primary and secondary data and reorganize it in a format that machines or human beings can understand.
There are some key differences in the responsibilities of each position. For example, actuarial assistant responsibilities require skills like "vba," "gaap," "data analysis," and "liability management." Meanwhile a typical statistical clerk has skills in areas such as "telephone interviews," "data entry errors," "statistical data," and "statistical reports." This difference in skills reveals the differences in what each career does.
Statistical clerks tend to reach lower levels of education than actuarial assistants. In fact, statistical clerks are 8.0% less likely to graduate with a Master's Degree and 0.1% less likely to have a Doctoral Degree.Actuarial assistant vs. Crime data specialist
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that actuarial assistant responsibilities requires skills like "vba," "gaap," "data analysis," and "liability management." But a crime data specialist might use other skills in their typical duties, such as, "sql," "background checks," "python," and "public safety."
In general, crime data specialists achieve lower levels of education than actuarial assistants. They're 11.1% less likely to obtain a Master's Degree while being 0.1% less likely to earn a Doctoral Degree.Actuarial assistant vs. Data analysis assistant
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, an actuarial assistant is likely to be skilled in "gaap," "liability management," "asset liability management," and "financial reports," while a typical data analysis assistant is skilled in "technical support," "behavior analysis," "applied behavior analysis," and "tableau."
Most data analysis assistants achieve a similar degree level compared to actuarial assistants. For example, they're 4.3% more likely to graduate with a Master's Degree, and 1.7% more likely to earn a Doctoral Degree.Updated January 8, 2025
