Actuary Associate ASA

Job Description

We are Farmers! 
Join a team of diverse professionals at Farmers to acquire skills on the job and apply your learned knowledge to future roles at Farmers. Farmers Insurance also offers extensive training opportunities through the award winning University of Farmers named by Training magazine amongst top 10 corporate training units in the world. Start your career at Farmers today! 
Job Summary 
Analyzes the impact of proposed or recently enacted legislation and corporate initiatives and proposes revisions to reporting processes and products. 
Essential Job Functions 
  • All the duties of an Actuarial Assistant plus the following: Works independently to develop and implement appropriate solutions to actuarial issues. 
  • Acts as project lead, where assigned, assigning project work, managing workflow, and providing feedback to management regarding progress, problems encountered and solutions implemented to complete the project on schedule. 
  • Coordinates and/or participates in cross-functional committees where assigned to address actuarial and corporate issues and represent the Actuarial function. 
  • Initiates coordination with other departments in the preparation of management reports and the resolution of cross-departmental issues. 
  • Initiates, organizes, directs, and analyzes actuarial research and experience studies and develops and recommends actuarial assumptions and extensions to programs and procedures. 
  • Analyzes agent bonus and contract value systems. 
  • Prepares financial projections. 
  • Analyzes proposed and existing products, develops appropriate formulas and assumptions, and directs the calculation of non-forfeiture values, premiums, commission rates, reserves, and proposal and disclosure values for new and existing products. 
  • Develops, extends, and maintains the profit study, reserve, and non-forfeiture value calculation programs. 
  • Directs the implementation of new products on administration and proposal systems.  
  • Directs audits of the plan description file, and coordinates changes. Initiates, organizes, directs, and analyzes audits of the actuarial portion of the policy master files, and recommends necessary changes in procedures. 
  • Coordinates correction of system errors reflected in the actuarial portion of the policy master file with MIS and Model Office Departments. 
  • Develops, maintains, audits, and changes programs, reserve factor files, and data bases needed to perform periodic and annual valuations for GAAP, statutory, federal income tax, and budget. 
  • Prepares, reviews and provides explanations of the actuarial portions of the financial statements, budgets, and the federal income tax returns. Promotes safety at all times and complies with safety/ergonomic standards as outlined in relevant company published manuals. 
  •  Performs other duties as assigned. 
Physical Actions 
Required job duties are essentially sedentary work consisting of occasional walking, standing and lifting and/or carrying 10-lbs. maximum and seeing. 
Physical Environment 
Required job duties are normally performed in a climate-controlled office environment. 
Education Requirements 
  • High school diploma or equivalent required. 
  • Bachelor's degree preferred. 
  •  Associate of the Society of Actuaries.  
Experience Requirements 
Four years of actuarial experience including one year as an Actuarial Assistant or the equivalent. 
Special Skill Requirement 
Advanced level knowledge of spreadsheet, database and actuarial projections software. Intermediate level knowledge of word-processing software. 
Farmers is an equal opportunity employer, committed to the strength of a diverse workforce. 

Schedule: Full-time

Job Posting: 07/11/2019