Fonner Insurance is Now Hiring!
Actuary wanted for long term position at Fonner Insurance.
You must also be readily able to do any of the following:
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Testify before public agencies on proposed legislation affecting businesses.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improving existing business.
- Provide advice to clients on a contract basis, working as a consultant.
- Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person who is disabled or killed in an accident.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Determine policy contract provisions for each type of insurance.
- Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Manage credit and help price corporate security offerings.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Explain changes in contract provisions to customers.
Experience: Extensive skill, knowledge, and experience are needed for these occupations. Many require more than five years of experience. For example, surgeons must complete four years of college and an additional five to seven years of specialized medical training to be able to do their job.
Education: A bachelor's degree is the minimum formal education required for these occupations. However, many also require graduate school. For example, they may require a master's degree, and some require a Ph.D., M.D., or J.D. (law degree).
Training: Employees may need some on-the-job training, but most of these occupations assume that the person will already have the required skills, knowledge, work-related experience, and/or training.
Possible Actuary Careers and Number of Occupants
Insurance Carriers - 9,600
Management, Scientific, and Technical Consulting Services - 2,720
Agencies, Brokerages, and Other Insurance Related Activities - 2,260
Management of Companies and Enterprises - 1,620
State Government (OES Designation) - 440
Insurance and Employee Benefit Funds - 280
Federal Executive Branch (OES Designation) - 240
Other Financial Investment Activities - 100
Office Administrative Services - 80
Local Government (OES Designation) - 80
Pay Scale of Actuaries
Average Hourly and Annual Pay of Actuaries by Industry
Administrative & Support and Waste Management - $41.25 - $85,800
Finance and Insurance - $46.45 - $96,628
Health Care and Social Assistance - $44.26 - $92,070
Management of Companies and Enterprises - $43.75 - $91,000
Other Services (except Public Administration) - $60.37 - $125,560
Professional, Scientific, and Technical Services - $50.61 - $105,261
Public Administration - $43.87 - $91,239
Average Annual Salary$97,450
Average Hourly Wage$46.85