Actuarial Analyst

ACTUARIAL ANALYST

ACTUARIAL DEPARTMENT

GUARDIAN LIFE OF THE CARIBBEAN LIMITED

JOB OBJECTIVE:

The Actuarial Analyst has responsibility for routine actuarial calculations using Axis, Excel and other tools.  The Analyst will also be required to work on ad hoc projects with supervision from the Senior Actuarial Analyst / Manager.

JOB RESPONSIBILITIES:

1. Valuation:

• Produce the monthly reserve reports using Axis, Excel and other models.

• Produce comprehensive analyses of reserve movements over the period.

• Develop and design queries to extract valuation output for internal and external reporting purposes, including the        assessment of the entities’ capital adequacy position.

• Implement model changes as instructed by the Manager including documentation and validation of those changes.

• Conduct Asset modeling including valuation of bonds and derivation of interest rate vectors for use in the valuation of   policy liabilities.

• Perform investigations of the company’s mortality, lapse, expense, premium persistency, critical illness and annuitant  mortality experience.

2. Pricing:

• Develop Axis, Excel and other models in order to price new or amended products.

• Produce product profitability reports.

• Update / modify quotation systems.

• Perform pricing for special cases.

• Produce projections for use in the company’s annual budgeting exercise.

3. Policy Quotations:

• Prepare individual policy calculations within agreed timelines whilst maintaining the highest standard of accuracy. 

• Provide advice on technical issues related to products.

4. General Administration:

• Prepare reports for GLOC, Banc and Calico including: Form A3 and other statutory reports, inforce and new business        reports, quarterly lapse reports.

• Maintenance of Ingenium for special cases and for missing rates as required.

• To perform any other job-related duties as assigned by the Manager or Executive.

 

EDUCATION:

• 5 CXC/CSEC Passes including Mathematics and English Language.

• 2 A’ Level/ CAPE passes.

• First Degree in Actuarial Science, Mathematics, Statistics or a related field from a recognized tertiary level institution.

• LOMA 280, 290, ACS 100 and all related parts.

 EXPERIENCE:

• 2 – 3 years’ experience in a similar role with a minimum of two (2) years in the Life Insurance Industry.

• Basic knowledge of relevant corporate issues, legislation, actuarial standards and processes.

• Working knowledge of insurance administration systems and products.

 PERSONALITY:

The Actuarial Analyst must be self-motivated, demonstrating the ability to use his/her initiative to acquire job knowledge and solve problems. He/she must be meticulous, thorough, logical and an excellent team player. He / she must communicate clearly and be courteous in dealing with all stakeholders.  The incumbent must be organized and be able to manage time and resources effectively to successfully balance work and study requirements.