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Actuary skills for your resume and career

Updated January 8, 2025
2 min read
Actuary example skills
Below we've compiled a list of the most critical actuary skills. We ranked the top skills for actuaries based on the percentage of resumes they appeared on. For example, 13.1% of actuary resumes contained risk management as a skill. Continue reading to find out what skills an actuary needs to be successful in the workplace.

15 actuary skills for your resume and career

1. Risk Management

Risk management is the method of recognizing, evaluating, and managing risks to an organization's resources and profits. Financial insecurity, regulatory liability, strategic management mistakes, incidents, and natural hazards are just some of the challenges or dangers that could arise. For digitalized businesses, IT security vulnerabilities and data-related threats, as well as risk management techniques to mitigate them, have become top priorities.

Here's how actuaries use risk management:
  • Support the development of underwriting risk selection and risk management tools to be used by Nationwide Management Liability and Specialty senior management
  • Prepared risk management reports sent directly to the CEO, CFO, Chief Actuary and the Board of Directors.

2. VBA

Visual Basic for Applications or, as it is commonly shortened to, VBA is a certain method of using Microsoft's event-driven programming language known as Visual Basic.

Here's how actuaries use vba:
  • Created presentation template in VBA to facilitate communication of results.
  • Developed VBA Macros to improve efficiency of rate implementation.

3. GAAP

Here's how actuaries use gaap:
  • Created GAAP monthly financial statements, projections and reserves for all company products and Advance Insurance Company's dental products.
  • Provided information in Statutory, GAAP, and Tax reserves for Penn Mutual, PIA, and auditors

4. SAS

SAS stands for Statistical Analysis System which is a Statistical Software designed by SAS institute. This software enables users to perform advanced analytics and queries related to data analytics and predictive analysis. It can retrieve data from different sources and perform statistical analysis on it.

Here's how actuaries use sas:
  • Gathered and presented analytical information for the Reserving Department and Executive Monthly Reserving Meeting using SAS, Excel and Access.
  • Gained preliminary predictive modeling experience through the project and utilized data mining techniques using SAS.

5. Health Insurance

Here's how actuaries use health insurance:
  • Work in team quotations, managing the risks and pricing of Group Life and Health Insurance.
  • Developed and prepared statistical and actuarial studies for both P&C and Health Insurance.

6. Financial Reports

Here's how actuaries use financial reports:
  • Interpret account performance to create customized rate plans Create monthly and quarterly financial reports
  • Produced monthly financial reports that summarized key business metrics to senior management

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7. Term Care

Here's how actuaries use term care:
  • Reviewed rate filings for Medicare Supplement, Long Term Care, Individual Accident and Health and Credit Life & Disability.
  • Lead actuary accountable for product development and financial reporting of life and long-term care insurance.

8. Product Development

Product development is the complete procedure of creating a product from concept until release of the final product. Product development has many stages after which a product is released into the market. Identifying the need, creating the opportunity, conceptualizing a product, and providing a solution, all are different stages of product development.

Here's how actuaries use product development:
  • Streamlined pricing functions by redesigning the term premium interpolation, cash value and anti-selection calculation methods for the product development area.
  • Managed an actuarial and product development staff of seven actuaries, a product manager, and a competitive analyst.

9. Projection

Here's how actuaries use projection:
  • Performed population projections to advise on retiree medical plan changes in conjunction with Affordable Care Act.
  • Prepare projections for reserves for COSVI products.

10. LTC

Here's how actuaries use ltc:
  • Designed and produced Living Benefits (CI, DI and LTC) New Business reports.
  • Led an experience study on morbidity assumptions to more accurately identify LTC rider risks.

11. Portfolio

Here's how actuaries use portfolio:
  • Maintained the credit life and disability A & H portfolio, and complied with state regulations changes.
  • Major accomplishments include: Revised life and health product portfolio to better compete against premier rivals.

12. Liability Management

Here's how actuaries use liability management:
  • Performed projections for asset-liability management.
  • Participated in and supported Asset-Liability Management working groups.

13. Data Analysis

Here's how actuaries use data analysis:
  • Performed policy data analysis to determine how much rate modification had been reflected in renewed policies.
  • Acted as database developer and performed data analysis for a major life insurance company.

14. PC

Here's how actuaries use pc:
  • Moved to Baxter Scientific Products as Lead PC Support Analyst and later joined Benefit Trust Life Insurance as Operations Manager.
  • Selected Achievements: * Develop rating formulas and PC programs used both internally and by other Delta plans.

15. Annuities

Here's how actuaries use annuities:
  • Designed life insurance products, including Term, Term Universal Life, a lump-sum disability rider and annuities.
  • Program covered life and health, Defined Benefit and Defined Contribution pensions and annuities.
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List of actuary skills to add to your resume

Actuary skills

The most important skills for an actuary resume and required skills for an actuary to have include:

  • Risk Management
  • VBA
  • GAAP
  • SAS
  • Health Insurance
  • Financial Reports
  • Term Care
  • Product Development
  • Projection
  • LTC
  • Portfolio
  • Liability Management
  • Data Analysis
  • PC
  • Annuities
  • Cash Flow
  • Regression
  • IFRS
  • PowerPoint
  • Rate Filings
  • MG-ALFA
  • Calculation
  • Peer Review
  • Financial Statements
  • Medicaid
  • SOX
  • Financial Analysis
  • DAC
  • IBNR
  • Medicare Advantage
  • Statistical Data
  • Life Insurance Products
  • Tax Reserves
  • SQL Server
  • FASB
  • Derivative
  • Plan Design
  • Loss Ratio
  • Data Collection
  • Group Life

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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