Selby Jennings: A Specialist Insurance & Actuarial Science Recruiter Talent Partner

Selby Jennings Jennings is a leading Insurance & Actuarial Science recruitment talent partner for financial sciences & services. Our global Insurance & Actuarial Science team provides permanent, contract, and multi-hire recruitment from our offices across three continents.

For more than 20 years, clients and candidates have had peace of mind that the specialist Insurance and Actuarial recruitment process is in safe hands.

During a time of automated machinery and innovative technology, the demand for insurance and protection has increased due to the exposure of new risks. To develop policies that reduce, manage and analyze risk effectively, companies must seek to attract top insurance and actuarial talent. Around 2,400 insurance and actuarial job openings are projected each year as businesses in the US compete for the best risk managers and problem solvers.

Don’t miss out on hiring top insurance and actuarial management professionals or becoming the next candidate to secure a job in asset management. Selby Jennings’ extensive portfolio, specialist salary and benefits knowledge, and expertise make us the best Investment Management recruiter talent partners for insurance and actuarial management jobs.

If you're a Insurance & Actuarial Science professional, please register your resume.

If you're looking for Insurance & Actuarial Science talent, please register your vacancy today.

Benefits of working with Selby Jennings’ global Insurance & Actuarial Science team

We are a specialist Insurance and Actuarial Science recruiter talent partner. Among the many benefits of working with Selby Jennings’ global Insurance and Actuarial Science team are:

Experience

We have nearly 20 years of experience as a leading talent partner in financial sciences & services.

Network

A vast, global network of the best, in-demand professionals, working with the world’s largest financial institutions to innovative fintech start-ups and beyond.

Knowledge

Our award-winning talent specialists offer bespoke, tailored guidance on the latest hiring trends and industry news to help you achieve your goals.

At Selby Jennings, we pride ourselves on establishing long-term partnerships founded on trust, integrity, and mutual success. Our Investment Management headhunters are dedicated to delivering custom solutions designed to meet your specific needs, offering adaptable strategies to fit your hiring protocols. Whether you're looking for rapid placements in pivotal Insurance & Actuarial Science roles or seeking comprehensive talent acquisition solutions, our resources and expertise are primed to deliver. Kickstart your recruitment journey with us by submitting your vacancy today.

Begin the process to solve your talent needs in the Insurance & Actuarial Science field by filling out our form today.

Insurance & Actuarial Science Jobs

In the complex world of finance, Insurance & Actuarial Science professionals play a key role. As risk assessment and financial security become more critical, individuals with these skills are highly sought-after. Partnering with Selby Jennings, an expert in Insurance & Actuarial Science, could significantly advance your career. Browse our available roles or submit your resume, and we'll reach out when a suitable opportunity arises.

VP Reinsurance Pricing Actuary

Job Title: VP Reinsurance Pricing Actuary Location: Hybrid - Chicago, IL Company Overview: Join a leading insurance and reinsurance company committed to delivering innovative risk solutions. My client's dynamic team in Chicago is looking for a seasoned professional to lead their reinsurance pricing initiatives. Job Description: My client is looking for someone that has a strong background in Property & Casualty (P&C) actuarial science, with a specific focus on treaty reinsurance pricing. This role is integral to their strategic planning and risk management efforts, ensuring that they maintain their competitive edge in the market. Key Responsibilities: Lead and manage the reinsurance pricing team, providing mentorship and guidance. Develop and implement pricing strategies for treaty reinsurance products. Collaborate with underwriting, finance, and other actuarial teams to assess and price reinsurance treaties. Conduct thorough risk assessments and provide recommendations for risk mitigation. Ensure compliance with regulatory requirements and internal policies. Present pricing analyses and recommendations to senior leadership and stakeholders. Stay updated with industry trends and best practices to continuously improve pricing models and methodologies. Qualifications: ACAS (Associate of the Casualty Actuarial Society) or FCAS (Fellow of the Casualty Actuarial Society) designation is required. A minimum of 10 years of P&C actuarial experience, with at least 5 years in treaty reinsurance pricing. Strong analytical and problem-solving skills, with a keen attention to detail. Excellent communication and interpersonal skills, with the ability to present complex information clearly and concisely. Proven leadership abilities, with experience managing and developing actuarial teams. Proficiency in actuarial software and tools. Benefits: Competitive salary and performance-based bonuses. Comprehensive health, dental, and vision insurance plans. 401(k) with company match. Flexible hybrid work environment. Professional development opportunities and support for continuing education.

Negotiable

Chicago

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CFO - Insurance

A leading alternative investment manager is looking for a seasoned insurance veteran to help grow their insurance platform. This platform will be used for both reinsurance and M&A transactions. Please apply if interested and qualified! Responsibilities: Focus on holistic balance sheet management of legacy inforce and annuity reinsurance Manage the acquisition and management of additional insurance companies and blocks of business Accounting, planning & analysis, capital & liquidity management and expense management projects Qualifications: FSA, CPA, or CFA designation Minimum 15 years of finance experience Strong US Stat, GAAP and/or IFRS experience Significant knowledge of insurance industry Deep annuities product knowledge

Negotiable

United States of America

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Chief Actuary

Responsibilities: Leadership and Mentorship: Lead and mentor the Actuarial department, aligning efforts with corporate goals for current and future products. Product Pricing and Risk Management: Oversee the pricing of products, risk assessment, modeling, forecasting, and statistical reporting processes. Cross-Departmental Collaboration: Work closely with Underwriting, Finance, Reinsurance, Product Development, and Marketing to align pricing with company goals and customer needs. Product Changes Management: Ensure documentation, implementation, and monitoring of product changes, including rate, rule, and form adjustments. Strategic Financial Policies: Develop and implement strategic financial policies to achieve profitability goals. Continuous Improvement: Lead initiatives for continuous improvement by tracking industry trends and competitor activities. External Stakeholder Liaison: Act as a liaison for external stakeholders, such as reinsurance partners. Pricing Strategy Communication: Inform the executive team about pricing strategies. Reporting: Prepare and present reports to various audiences, including executive-level stakeholders. Budget Oversight: Oversee the creation and management of the budget. Regulatory and Industry Knowledge: Maintain up-to-date knowledge of state regulations, industry trends, and company directives. Compliance Assurance: Ensure company products meet state requirements and comply with regulatory standards and industry best practices. Requirements: Education: Bachelor's Degree in Actuarial Sciences, Finance, Business, or related field required Master's Degree preferred Equivalent experience may substitute for minimum educational requirements Experience: Minimum of ten (10) years of relevant work experience required At least five (5) years in leadership roles required Certifications: Fellow of the Casualty Actuarial Society (FCAS) or equivalent required

Negotiable

Florida

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Director, Trend Analytics

One of the top Blue Cross Blue Shield plans in the country is seeking a seasoned analytics professional to lead it's Trend Analytics team. This position can be worked remotely from anywhere in the U.S. (with 5-10% annual travel to HQ) Responsibilities Use data & analytics to... Educate key stakeholders about trends Inform financial results and forecasting Support market segment, network, provider, member, and condition to identify key trends Develop claim trend projections to support product pricing Assess future financial risk Identify opportunities to improve medical cost and utilization Qualifications Bachelors degree in mathematics or related field 7+ years of Trend Analytics experience 3+ years of management experience. Strong experience with Excel, SAS, SQL and other cloud-based technologies

Negotiable

United States of America

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Commercial Lines Underwriter

**Preference to individuals residing in the New England States (MA, CT, RI, NH, ME, VT)** P&C Commercial Lines Underwriter $75,000 to +$130,000 base salary (commensurate with experience) Summary An exciting opportunity to join an established wholesale broker as an Underwriter to assist in cultivating client relationships and expanding the Commercial lines book of business. You will be working on both new and renewal underwriting. Qualifications Bachelor's degree. Minimum 3 years of underwriting experience in Commercial Lines Insurance. Strong sales, marketing, and communication skills. CPCU preferred. Responsibilities Maintain and advise knowledge of underwriting guidelines. Drive new business and renewal retention. Consult with brokers and review inspections. Document files properly and maintain client relationships. Network to identify new clients and maintain broker relationships.

US$75000 - US$130000 per year

United States of America

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Actuarial Director, Risk Adjustment

A leading health plan in the Midwest is looking for a seasoned ASA/FSA to lead its Risk Adjustment & Quality Analytics team! This position can be worked remotely from anywhere in the U.S. (with 5-10% annual travel to HQ) Responsibilities Conducts risk score calculations and forecasts for all lines of business Assesses the financial implications of potential improvement initiatives and offers pricing and budgeting recommendations. Manages the identification of diagnostic coding gaps, confidence modeling, and benchmarking. Provides strong leadership to the Quality and Risk Adjustment Analytics team Qualifications Bachelors degree in mathematics or related field 7+ years of Risk Adjustment AND Quality Analytics experience 3+ years of management experience. ASA/FSA designation

Negotiable

United States of America

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Commercial Lines Underwriter

Job Summary: My client is looking for an experienced Commercial Lines Underwriter with a strong background in Commercial Auto. In this role, you will manage risk selection for new and renewal business within an assigned territory. Your responsibilities include influencing profitability, rate adequacy, and risk acceptability, as well as handling voluntary business within assigned agents. Building and maintaining strong relationships with agents, Business Development Representatives, and Voluntary new and renewal underwriters is essential. Requirements: Education: Bachelor's Degree or equivalent professional knowledge in a specialized field. Experience: At least 2 years of experience in Commercial Lines Underwriting. Skills: Ability to exercise business judgment effectively. Strong communication skills. Sales skills. Analytical skills for risk assessment. Time management skills. Additional Qualifications: Prior experience as a Commercial Lines Underwriter. Decision-making ability within management limits. Ability to provide training to less experienced staff. Problem-solving skills for a scope of issues. Effective communication across departments and external parties.

Negotiable

Boston

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Data Analyst

Opportunity for a highly skilled Data Analyst with expertise in SQL Server databases to join our Information Systems team. The ideal candidate will be responsible for writing and executing complex data pulls from SQL Server databases to support our Property & Casualty Insurance operations and grow into performing database administrator duties. This role requires a strong analytical mindset, attention to detail, and the ability to work with department managers to provide the data and reporting they need. Responsibilities: Develop and maintain complex SQL queries to extract data from SQL Server databases. Collaborate with cross-functional teams to understand data requirements and deliver accurate data pulls and reports. Ensure data integrity and security during the extraction process. Analyze large datasets to identify trends, patterns, and insights relevant to P&C insurance operations. Present findings to stakeholders in a clear and concise manner. Optimize database performance by identifying and resolving bottlenecks. Stay updated with the latest SQL Server technologies and best practices. Qualifications: 5+ years of experience with SQL Server databases and advanced querying techniques. Experience in Personal and Commercial insurance industry a plus. Interest in bringing ideas and solutions to the team that assist PSM in continuous improvements. Self-driven achiever able to work independently within the team. Proficient with Microsoft Office applications. Microsoft .Net experience a plus.

Negotiable

Michigan

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Auto Claims Specialist | Bodily Injury & Auto Liability

My client is hiring claims professionals experienced in Non Standard, Auto Liability, and Bodily Injury claims. Key Responsibilities: Review each assigned file and determine the appropriate course of action, utilizing technical knowledge and experience to support the final resolution of losses. Conduct thorough investigations and maintain accurate documentation of all file activities related to each claim, including coverage details, liability status, and applicable damages. Process bodily injury and coverage claims in accordance with established office procedures. Collaborate closely with a team to identify necessary investigations regarding injuries and coverage. Research case law and statutory regulations to conduct effective claim investigations. Document policy status, coverage, liability, and damages for all claims, and inform the re insurer of any qualifying claims. Prepare and present evaluations of claims to the appropriate settlement authority. Honor, decline, or negotiate first and third-party liability claims after completing coverage and policy investigations, along with analysis of damages and liability. Organize, plan, and prioritize work activities to manage current assignments and ensure timely resolution of claims. Qualifications: ~3 years of prior experience in auto insurance or casualty claims. Strong analytic, organizational, interpersonal, and communication skills. General understanding of policies, file procedures, and state rules and regulations. Ability to pass written exams required by state statutes to obtain a Claims Adjuster license. This on-site position is located in Belford Park, IL or Oakbrook, IL.

US$65000 - US$65001 per year

Chicago

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Associate Actuary

What you will do: Conduct actuarial analysis and develop pricing models for life, annuity, critical illness, or disability products Assist in the development of financial projections and risk assessments Support the valuation of reserves and financial reporting processes Collaborate with cross-functional teams to provide actuarial insights and support strategic initiatives Participate in the APD program, receiving mentorship and training to further professional development Stay updated on industry trends, regulatory changes, and emerging risks What you need: ASA designation required Bachelor's degree in Actuarial Science, Mathematics, or a related field Experience in life insurance, annuities, critical illness, or disability products Proficiency in actuarial modeling software (e.g., MG-ALFA, AXIS) and Excel Programming skills (e.g., VBA, Python) are a plus Ability to work effectively both independently and within a team setting

US$105000 - US$135000 per year

Atlanta

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Annuity Pricing Actuarial Analyst

What you will do: Price structured Life and Annuity reinsurance transactions Analyze client data, review assumptions and risks Develop reinsurance deal models and assess profitability Communicate risk analysis to senior management Manage client relationships with Marketing department Stay updated on market trends, industry news, and regulatory changes What you need: Bachelor's degree in Actuarial Science, Mathematics, or equivalent 5+ years of life insurance industry experience, preferably in annuity pricing ASA Designation Modeling experience (MG-ALFA, AXIS), VBA or programming skills a plus

US$105000 - US$135000 per year

Philadelphia

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M&A Associate 1 | Dubai

Are you a talented M&A professional from London, Paris, or Milan looking to take your career to the next level? We are partnering with a prestigious Mid-Cap M&A Investment Bank in Dubai that is expanding rapidly due to a surge in high-profile deals. Join a dynamic and entrepreneurial team noted for their collegiate and high-performing environment, where you'll gain full exposure to both origination and execution-related responsibilities. Key Responsibilities: Live Transactions: Participate in M&A and strategic advisory projects. Origination and Marketing: Play an integral role in deal origination and marketing activities. Idea Generation: Contribute to idea generation and sector coverage. Data Analysis: Prepare data analysis for pitch books and discussion materials. Financial Modelling: Conduct financial modelling, valuation, project management, and client engagement. Additional Responsibilities: Take on additional responsibilities as needed. Key Requirements: Education: A bachelor's degree. Experience: 3-5 years of M&A experience from a reputable Investment Bank in Europe, ideally in Paris, London, or Milan. Knowledge: Enthusiasm and understanding of the regional M&A market. Skills: Ability to handle complex modelling and financial analysis. Leadership: Take ownership and drive individual projects. Attention to Detail: Strong attention to detail and judgement to identify key issues, draw conclusions, and question results. Relocation: Willingness to relocate to Dubai. Why Join? Career Growth: Opportunity to work on some of the most high-profile Mid-Cap transactions in the region. Dynamic Environment: Be part of a high-performing, entrepreneurial team. Global Exposure: Gain international experience in a thriving financial hub. Supportive Transition: Assistance with relocation and settling into Dubai. If you are passionate about M&A and ready for an exciting career move to Dubai, we want to hear from you! Please apply with an updated resume if you feel this role is a match for you. We look forward to receiving your application and helping you transition to a rewarding career in Dubai.

Negotiable

Dubai

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News & Insights

hiring advice

Insurance and Actuarial Talent Trends in 2024

One clear trend has emerged in the insurance industry in recent years — Artificial Intelligence (AI) has well and truly arrived. You may have already seen evidence of this, such as algorithms in the actuarial back office to chatbots for claims resolution. AI disruption can be good for businesses in this sector, as those who embrace these tools can stand out among the sea of competitors.Using AI to Increase CompetitivenessAI has typically been about using machine learning to automate, iterate, and optimize models. In other words, AI insurance models feed off previous real-world events. The assumption here is that as AI technology matches risk data points to claims data points, future events will emulate the past.What this means is that success depends on talented actuaries providing data points and using AI to create pricing and instigate appropriate checks and balances. Those who embrace AI technology and use it to empower companies could evolve faster and capitalize on creating the best possible product.Actuaries need to embrace AI to communicate effectively on how different risks can impact customers and price points. As more data and tools will become available, the industry will still rely on actuaries to process cases.Humans Are Still NeededSome people have concerns that AI technology will eliminate human jobs completely for certain professions, including putting actuaries out of work. While machine learning has taken away certain repetitive or monotonous tasks, current technology still requires people to step in to guide and govern. In other words, machines won’t completely eliminate actuarial teams in the foreseeable future.As mentioned before, we’re seeing trends where actuaries need to embrace these solutions so that machine learning becomes a tool that helps to enhance the quality of their work and therefore the organization. Companies will look to these skills as AI continues to evolve.Evolved RolesEven though machine learning will get more sophisticated, it cannot replace human completely. Risk and claims data points are complex and there is no evidence so far that points to machine learning being able to come up with the types of judgment or innovation needed, including asking thought-provoking questions or thinking up worst-case scenarios.Machine learning will require actuaries to tackle new problems or create new opportunities for their companies. Instead of analyzing data points as a skill, top talent could shortly be hired for their critical thinking and problem-solving skills such as market price reconstruction or innovative concepts to ensure customer retention.That’s not to say tasks such as fraud detection and advanced claims handling will be taken over by AI anytime soon. Companies will still need actuaries who can use their current skill set. However, as more companies embrace machine learning, they’ll be looking towards talent who can keep up with trends and are willing to take on roles where it involves predicting and validating solutions for the future.Why Choose Us?During a time of innovative technology, the demand for insurance and protection has increased due to the exposure of new risks. To develop policies that reduce, manage, and analyze risk effectively, companies must seek to attract top insurance and actuarial talent. Around 2,400 insurance and actuarial job openings are projected each year as businesses in the US compete for the best risk managers and problem solvers.Selby Jennings is a leading Insurance & Actuarial Science recruitment talent partner in financial sciences & services. Our global Insurance & Actuarial Science team provides permanent, contract, and multi-hire recruitment from our offices across three continents. For more than 20 years, clients and candidates have had peace of mind that the recruitment process is in safe hands.Don’t miss out on hiring top insurance and actuarial management professionals or your next potential career move if you are an insurance professional considering opportunities.Selby Jennings’ extensive portfolio, expertise, and specialist salary and benefits knowledge make us the best insurance and actuarial science talent partner.

career advice

Become Part of the Actuarial Scientist Community with Selby Jennings

The world of actuarial science is dynamic, intricate, and holds the promise of a fulfilling career for those who are talented in quantitative analysis and have a knack for problem-solving. And what better way to dive into this promising career than joining the Selby Jennings Data Architect Community? Here's why:Why Join the Selby Jennings Data Architect Community?Exclusive Club: Joining Selby Jennings means becoming part of a unique community, an exclusive club that offers its members myriad benefits.Regular Updates: Stay ahead of the curve with exclusive updates on the latest trends in the data architecture landscape.Webinars & LinkedIn Lives: Engage in enlightening sessions, getting firsthand knowledge from industry leaders and experts.Reports: Access meticulously curated reports, giving you in-depth insights into industry shifts, best practices, and new innovations.Emerging Skills Training: The data landscape is ever-changing. Stay competitive with insights into emerging skills and tools.Mentorship Opportunities: Benefit from personalized mentorship, helping you navigate your career journey and scaling new heights in your professional growth.JOIN THE EXCLUSIVE DATA ARCHITECT COMMUNITYResponsibilities of an Actuarial ScientistActuarial Scientists play a crucial role in the financial planning and risk management sectors. Here's a snapshot of what they typically do:Compiling Statistical Data: Gathering relevant data to make informed decisions.Designing Investment and Pension Plans: Creating financial plans that ensure security and returns.Business Strategy Development: Drafting strategies that reduce risks and enhance profitability.Risk Analysis: Evaluating potential threats and devising ways to mitigate them.Estimating Economic Costs: Predicting the financial impact of unpredictable events.Policy Administration: Designing and overseeing insurance policies.Data Presentation: Producing clear visual representations of data and findings.Communication: Effectively explaining findings and recommendations to a variety of stakeholders.Essential Skills for an Actuarial ScientistTo excel in this field, an individual should possess:Numeracy Skills: Ability to deal with numbers effortlessly.Problem-solving Skills: Tackling challenges with innovative solutions.Tech Proficiency: Familiarity with advanced computer software and tools.Business and Financial Acumen: Understanding the financial sector's intricacies.Communication Skills: Conveying complex ideas simply.Research & Analytical Abilities: Delving deep into data to glean insights.Knowledge of Economics: Understanding global economic patterns and shifts.Qualification RequirementsA bachelor's degree in actuarial science, mathematics, statistics, or a related analytical field is typically essential given the role's complex nature.The Financial AspectsOn average, an Actuarial Scientist earns $117,774 annually in the US. However, factors like location, experience, and the employer can influence the actual compensation.Be a Part of the Future with Selby Jennings in the World of Actuarial ScienceAt Selby Jennings, our specialized Actuarial Scientist consultants have forged unparalleled partnerships with some of the leading names in the industry. Through these exclusive alliances, we provide a gateway to opportunities often beyond the reach of conventional avenues. Whether you aim to soar higher in your current trajectory or yearn for a fresh landscape, our robust connections guarantee that you gain entry to Actuarial Science jobs tailored to match your ambitions. Becoming a member of our community isn't just about securing a position; it's a significant stride in a career journey meticulously designed for you. If a shift in the domain of actuarial science is on your horizon, now is the prime time to immerse yourself in our community. Your ideal role could be on the horizon, possibly the one you've dreamt of.Eager to pioneer your path in the realm of actuarial science? Submit your CV without delay and harness the power of the Selby Jennings network. Dive into premier Actuarial Scientist opportunities and stay ahead of the game.

Insurance-and-Actuarial

The Future of AI in Actuarial Science Services

In the rapidly evolving landscape of finance and services, one technological advancement stands out prominently: Artificial Intelligence (AI). The integration of AI in various industries has been reshaping processes, optimizing outcomes, and revolutionizing the way we conduct business. Actuarial science, a discipline at the crossroads of mathematics, statistics, and economics, is no exception to this transformative wave. In this blog, we will delve into the future of AI in actuarial science services, exploring its potential applications, its impact on jobs, and the pros and cons it brings to the industry.The AI Revolution in Actuarial ScienceAlgorithmic TradingOne of the most visible applications of AI in actuarial science is algorithmic trading. AI-driven algorithms analyze market trends, historical data, and real-time events to make informed trading decisions. This not only enhances the speed and accuracy of trading but also reduces the influence of human emotions, leading to more consistent results.Fraud Detection and PreventionAI's prowess in data analysis and pattern recognition equips it to detect fraudulent activities in financial transactions. Machine learning algorithms can identify unusual behaviors, flagging potentially fraudulent actions for human investigation. As financial transactions become increasingly digital, the need for robust fraud detection systems has never been greater.Risk ManagementAI augments actuarial analysis by processing vast amounts of data to assess and mitigate risks. Predictive modeling powered by AI can estimate potential losses, helping insurers and financial institutions make more informed decisions about risk exposure and pricing.Customer ServiceChatbots and virtual assistants are becoming integral parts of customer service in the financial sector. These AI-driven interfaces offer real-time support, answer frequently asked questions, and guide customers through various processes. This not only enhances customer satisfaction but also allows human agents to focus on more complex tasks.Effects on Jobs and Hiring PracticesJob Displacement and ReskillingThe rise of AI in actuarial science does raise concerns about job displacement. As routine tasks become automated, some traditional roles may become obsolete. However, this also presents an opportunity for professionals to upskill and reskill. Adaptation to new technologies and learning to work alongside AI systems will be crucial for staying relevant in the industry.Explore how to write an actuarial scientist job description.Demand for Specialized SkillsAs AI becomes more prevalent, the demand for professionals with specialized skills in data science, machine learning, and AI will soar. Actuaries who can effectively harness AI's potential to extract insights from data and develop advanced predictive models will be highly sought after.Evolving RolesRather than rendering human roles redundant, AI is likely to reshape job descriptions. Actuaries might transition from routine number-crunching to more strategic tasks such as designing AI algorithms, interpreting AI-generated insights, and making strategic decisions based on AI recommendations.Remote Work and CollaborationAI's integration in actuarial science services has been catalyzed by the global shift toward remote work and collaboration. Cloud-based platforms and AI-powered communication tools enable actuaries to collaborate seamlessly across geographical boundaries, increasing efficiency and expanding the talent pool.Advantages and Disadvantages of AI in the Actuarial Science IndustryAdvantagesIncreased Efficiency: AI automates repetitive tasks, allowing actuaries to focus on higher-value activities, resulting in increased efficiency and productivity.Enhanced Decision-Making: AI's data-driven insights provide actuaries with a more comprehensive understanding of risk factors, enabling them to make more informed decisions.Personalized Customer Experience: AI-powered algorithms can analyze customer data to tailor services, providing a more personalized and satisfying customer experience.DisadvantagesJob Displacement: Automation of routine tasks could lead to job displacement for those unwilling or unable to adapt to the changing landscape.Data Privacy and Security Concerns: The increased use of AI requires handling large volumes of sensitive customer data, raising concerns about data privacy and security.Ethical Considerations: As AI algorithms make critical decisions, concerns about bias, transparency, and fairness in decision-making processes come to the forefront.The future of AI in actuarial science services promises a revolution that will shape the industry's landscape in ways we can't fully anticipate. While there are challenges to address, the potential benefits are vast. As AI becomes an indispensable tool in the actuarial toolkit, professionals who embrace these changes, upskill, and leverage AI's capabilities will be well-positioned to navigate the evolving industry successfully.Are you a business looking to harness the power of AI in your actuarial services? Do you seek expert guidance on integrating AI seamlessly into your operations? Our team of experts is ready to assist you. Request a callback today and let us help you unlock the full potential of AI in the world of actuarial science. The journey ahead is one of adaptation, innovation, and collaboration between human intellect and artificial intelligence.

Insurance-and-Actuarial

How to Write a Actuarial Scientist Job Description

An Actuarial Scientist is responsible for applying mathematical skills to all areas of the social sciences, in order to evaluate risk and maintain the economic stability of both insurance and financial organizations. A key part of the role is to anticipate future events and take preventive measures to minimize risk and impact. For example, Actuaries carefully analyze past data to determine how much money should be set aside to cover potential financial losses and the consequences that come hand-in-hand with these losses. The role is becoming more and more competitive, with lots of opportunities for strong candidates. The most effective way of hiring and attracting top industry talent is by writing an accurate, well-informed Actuarial Scientist job description. After all, a job description is an essential part of the job application process and will help you determine whether potential candidates are suitable for the role. View our current Actuarial Scientist roles available here.Main responsibilities As an employer, you should always mention the main responsibilities that the successful candidate would be expected to fulfill in the role. An Actuarial Scientist’s main responsibilities may include:Carefully analyzing statistical data Determining potential risks and identifying ways to reduce themWorking in compliance with financial regulationsCommunicating findings to clients and colleagues in a clear and concise mannerPreparing presentations and reportsMonitoring and developing processes and IT systems to ensure they are efficient.The contracted hours the successful candidate will be required to work each day and week should also be clearly mentioned within a job description and, if evening and weekend work is required, this should also be stated. Of course, the main responsibilities of an Actuarial Scientist will vary depending on the organization as well as industry needs and requirements. Clearly stating why our company expects from potential candidates helps streamline the recruitment process and attract applicants that are well-suited to your business. Skill and qualificationsMentioning the skills and qualifications that your vacant Actuarial Scientist position requires will also help to refine candidate selection. A competent Actuarial Scientist should typically possess the following skills:Excellent numeracy skills Sound research and analytical abilityThe ability to analyze complex data A high level of computer literacyExcellent written and verbal communication skillsExcellent organization skills Excellent investigative skills and problem-solving abilitiesAble to apply meticulous attention to detail to all works.The majority of successful Actuarial Scientists have a bachelor’s degree or master’s degree in Actuary Science degree. However, many Actuarial Scientists have also studied finance, mathematics, or statistics. Explore the evolution of Actuarial Scientists and new in-demand skills here.How to write a job description When writing an Actuarial Scientist job description, always mention the job title and job summary. This information should attract, engage, and appeal to your desired candidate. Always outline the core responsibilities and daily duties of the position and what you expect from employees. In addition, you should introduce your company and its culture to show why a candidate should want to work for your organization. Highlighting your business also helps the candidate determine if they share mutual synergy, helping to attract the best candidate for the position. Including a job location and details of work hours and environment will optimize your job search results and applications as candidates will only apply if they are happy to comply. List the hard and soft skills required by your company to fulfill the vacant role. However, be mindful that too many niche requirements could dissuade potential candidates. Finally, mentioning a salary range and work benefits helps you stand out among other employers and attract best-fit applicants. How to hire the best candidateTo hire the best candidate for your Actuarial Scientist position, get in touch with a talent partner today. Talent partners have access to industry-leading talent and are experts in identifying the right candidates for niche positions. To find the talent you need,submit your open vacancy to the Selby Jennings vacancy page or request a call backto elevate your recruitment process.

Insurance-and-Actuarial

The Evolution of Actuarial Science: New In-demand Skills for the Modern Actuary

In the dynamic world of today, industries are continually evolving to keep pace with emerging trends and technologies. One profession that has experienced notable change over the years is actuarial science. The Society of Actuaries (SOA), the premier professional organization for actuaries in North America, has been at the forefront of this evolution, regularly updating its curriculum and certification requirements to reflect the shifting needs of employers and the insurance industry.Embracing Data Science and Predictive AnalyticsOne of the most significant updates to the SOA's curriculum in recent years has been the introduction of a course on data science and predictive analytics. This is a testament to the growing relevance of these disciplines in the actuarial profession.Data science encompasses a broad array of techniques for extracting insights from data, including machine learning, statistical analysis, and data visualization. Predictive analytics, a subset of data science, involves using these techniques to make predictions about future events based on historical data.For actuaries, these skills are increasingly valuable. The insurance industry is awash in data, from customer demographics and policy details to claims history and risk factors. By applying data science and predictive analytics techniques, actuaries can glean more profound insights from this data, enabling more accurate risk assessments and pricing models. They can also help insurance companies identify trends and patterns that can inform strategic decision-making.The Importance of AdaptabilityIn addition to technical skills, the SOA has also recognized the importance of adaptability in the modern actuary's skill set. As the insurance industry evolves, actuaries must be able to quickly learn and apply new techniques, adapt to changes in regulatory environments, and navigate the complexities of global markets. This is particularly important in today's rapidly changing technological landscape, where advancements like artificial intelligence and blockchain are continually reshaping the industry.To foster adaptability, the SOA's curriculum emphasizes problem-solving, critical thinking, and continuous learning. It encourages actuaries to stay abreast of industry trends and advancements and to be open to new ideas and approaches.Micro-Credentials: A New Path to Professional DevelopmentAnother innovative addition to the SOA's offerings is the introduction of micro-credentials. Unlike traditional certifications, which can take years to earn, micro-credentials are smaller, more focused qualifications that demonstrate proficiency in a specific area.For actuaries, these micro-credentials offer a flexible way to enhance their skills and knowledge. They can pursue micro-credentials in areas like data science, predictive analytics, or business strategy, adding to their professional toolkit without committing to a full certification program.This flexibility is particularly beneficial in today's fast-paced business environment, where the ability to quickly acquire and apply new skills can be a significant competitive advantage.Attracting and Retaining Top TalentThese changes to the SOA's curriculum reflect not only the evolving needs of the insurance industry but also the shifting expectations of top talent. Today's actuaries are looking for opportunities to grow and develop their skills, and they are attracted to employers that can provide these opportunities, as Taylor Carrasco, Executive Director here at Selby Jennings, explains: “To attract and retain these high-performing individuals, employers must offer compelling value propositions. This includes not only competitive compensation packages but also strong benefits, professional development opportunities, and a culture that values innovation and continuous learning.”Taylor also believes due to the evolution of the SOA's curriculum, professionals must adapt to stay relevant in a changing world: “By embracing new skills like data science and predictive analytics, fostering adaptability, and offering flexible learning pathways like micro-credentials, the SOA is ensuring that actuaries are well-equipped to navigate the challenges and opportunities of the modern insurance industry.”To better understand the evolving landscape of the insurance industry download our latest report here. This comprehensive guide provides deeper insights into the trends that are reshaping the industry, from the rise of data science to the increasing importance of adaptability.If your looking for career progression take a look at our live career opportunities or submit your resume to become discoverable to our Insurance & Actuarial Talent Consultants here at Selby Jennings. This report is an excellent resource for understanding the skills and competencies that employers are seeking. It can help guide you in aligning your professional development efforts with these trends, making you more attractive to potential employers.If you are looking for talent request a call back today. This report offers valuable insights into the changing landscape and how you also retain top actuarial talent. It provides practical tips and strategies for navigating the challenges of the modern insurance industry and creating a compelling value proposition for prospective employees.Download Report

Insurance-and-Actuarial

The Growing Necessity: Employer Value Proposition in Financial Sciences & Services

In today's highly competitive business environment, financial sciences & services organizations are facing increasing pressure to attract and retain top talent. The competition for talent is fiercer than ever, with companies vying for the best and the brightest to drive innovation, customer satisfaction, and overall growth. One critical aspect that is quickly gaining traction in this landscape is the Employer Value Proposition (EVP). At Selby Jennings, we have explored the importance of EVP in financial sciences & services, why it is becoming a necessity, and how organizations can develop and leverage a strong EVP to attract and retain top talent.The Importance of Employer Value Proposition in Financial ServicesEmployer Value Proposition (EVP) refers to the unique combination of benefits, rewards, and opportunities an employer offers to its employees in exchange for their skills, performance, and commitment. In the financial services sector, a strong EVP is particularly crucial due to the following factors:Intense Competition for TalentThe financial services industry is known for its high demand for skilled professionals. With the rapid pace of digitalization, companies require a diverse range of expertise, from Quantitative Research & Trading to financial technology experts. A strong EVP can help financial institutions stand out and attract top talent in a competitive market. High Employee ExpectationsToday's workforce, expects more than just a competitive salary. They are looking for purposeful work, opportunities for personal and professional growth, work-life balance, and a supportive work environment. A compelling EVP that addresses these expectations can help financial services organizations retain their best employees.The Changing Landscape of Financial ServicesThe financial services industry is undergoing significant changes with the advent of fintech, blockchain, and artificial intelligence. A strong EVP can help organizations adapt to these changes by attracting employees with the required skill sets and fostering a culture of continuous learning and innovation.Creating a Strong Employer Value Proposition in Financial ServicesTo develop an effective EVP that resonates with employees and potential candidates, financial services organizations should consider the following steps:Understand Your Target AudienceBegin by identifying the type of talent you want to attract and retain. This could include specific skill sets, experience levels, or even cultural fit. Once you know your target audience, you can tailor your EVP to address their unique needs and preferences. Assess Your Current OfferingAnalyze your organization's existing rewards, benefits, and opportunities. Identify gaps and areas for improvement, and ensure that your EVP encompasses all aspects of the employee experience, from compensation and benefits to growth opportunities and company culture.Communicate Your EVP EffectivelyA well-crafted EVP is only as effective as its communication. Make sure your EVP is consistently communicated through all recruitment channels, as well as internally to current employees. This includes job postings, career websites, social media, and employee testimonials.Regularly Review and Update Your EVPAs the financial services industry evolves, so should your EVP. Continuously evaluate and update your EVP to keep it relevant and in line with industry trends, employee expectations, and organizational objectives.Selby Jennings excels in presenting Employer Value Propositions (EVP) to candidates, ensuring that businesses stand out in the competitive market. Our team of experts understand the importance of aligning your organization's values, culture, and growth opportunities with top talent. By leveraging our extensive network and industry insights, we're able to effectively showcase your business's unique advantages to attract and retain the best candidates. Don't miss the opportunity to work with a partner who will elevate your hiring process - request a call back today to explore how Selby Jennings can drive exceptional talent to your business.

Highlights

Phaidon International Findings

As a leading talent partner, we keep our finger on the pulse when it comes to hiring trends, and 2022 was no exception. It has never been more important for companies to understand what business-critical professionals are thinking when it comes to making career changes, what compensation they’re after, and what benefits they really desire. We surveyed our vast, global network of the best, in-demand professionals, and came up with a number of valuable insights that employers need to know about if they want to attract the best talent, and just as critically, keep them. Discover what is motivating top talent around the world right now with our highlights across Financial Sciences & Services.Download your copy of this report by completing the form below:

Insurance-and-Actuarial

Insurance and Actuarial Talent Trends in 2019

One clear trend emerges in the insurance industry — Artificial Intelligence has arrived. You may have already seen evidence of this such as algorithms in the actuarial back office all the way to chatbots for claims resolution. The AI disruption can be good for talent in this sector, as those who embrace these tools can stand out among the sea of competitors.Using AI to Increase CompetitivenessAI has typically been about using machine learning to automate, iterate and optimizing models. In other words, AI insurance models feed off previous real-world events. The assumption here is that as AI technology matches risk data points to claims data points, future events will emulate the past. What this means is that success depends on talented actuaries to provide data points and using AI in order to create pricing and instigate appropriate checks and balances. Those who embrace AI technology and use it to empower companies could evolve faster and capitalize on creating the best possible product.Actuaries need to embrace AI in order to communicate effectively on how different risks can impact customers and price points. As more data and tools will become available, the industry will still rely on actuaries to process cases.Humans Are Still NeededThere are some who predict that AI technology will eliminate human jobs completely for certain professions, including putting actuaries out of work. While machine learning has taken away certain tasks, current technology is still at a point where it needs humans to step in to intervene and govern. In other words, machines won’t completely eliminate actuarial teams in the foreseeable future.Like mentioned before, we’re seeing trends where actuaries need to embrace these solutions — no matter how crude or incomplete they may be — so that machine learning becomes a tool that helps to enhance the quality of their work and therefore the organization. Companies will look to these skills as AI continues to evolve.Evolved RolesEven though machine learning will get more sophisticated, it cannot replace humans completely. Risk and claims data points are complex and there is no evidence so far that points to machine learning being able to come up with the types of judgment or innovation needed, including asking thought-provoking questions or thinking up worst case scenarios.Machine learning will require actuaries to tackle new problems or create new opportunities for their companies. Instead of analyzing data points as a skill, top talent in the near future could be hired for their critical thinking and problem solving skills such as market price reconstruction or innovative concepts to ensure customer retention.That’s not to say tasks, such as fraud detection and advanced claims handling, will be taken over by AI anytime soon. Companies will still need actuaries who can use their current skill set. However, as more companies embrace machine learning, they’ll be looking towards talent who can keep up with trends and are willing to take on roles where it involves predicting and validate solutions for the future.Get in touch with a Selby Jennings representative today to learn how you can connect with forward-thinking talent.------------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries. Contact us to find out how Selby Jennings can help you.

Insurance-and-Actuarial

Actuarial Market Update - Life & Annuities

OverviewAs we move into Q2, our team wanted to highlight a number of trends across the market that are affecting where talent pools are gravitating. We are currently in one of the most buoyant job marketscrossthe U.S. and organizations have started to pull out all the stops to attract and retain the best talent. One method that has become more popular over the past few months is allowing candidates to have the option to work remotely. The other issue that has put a strain on available talent is the appetite for organizations to sponsor visa candidates. With the expedited transfer process recently suspended, more and more companies are relying on organically growing the businesses or focusingon campusrecruiting where candidates will not require any work sponsorship.Roles in DemandGiven the time of year, we anticipate the market to be flooded with new FSA’s in the coming months and most of these candidates are getting a jump on the competition by putting their names out to recruiters and companies prior to exam season, so they are ready to interview once they achieve their next designation. We are days away from the new class of ASA’s being published and with changes to the exams in the coming months, companies are anticipating this class to produce an immense number of new actuaries.From a company perspective, most hiring managers are seeking candidates with strong backgrounds in Modeling and Valuations and demand is coming from organizations both large and small. The 7-10 year mark has been the key level of seniority that everyone is seeking as most have already searched internally for an organic hire, but end up going to market for someone with a deeperskillset.Additionallywe are seeing a recent push for Valuation, Governance and Regulatory talent from the 4-7 year mark, typically with some of the smaller shops. It has been interesting to see candidates who have come from a traditional actuarial background interested in making the switch to a non-traditional role.Apart from the typical hubs in the Midwest and the Northeast, we are seeing a pretty big push for talent in the Texas and Southeast markets. Organizations have realized that irrelevant of location, good candidates are going to achieve competitive salaries even if they in a lower cost of living location. This has helped drive the base salary figures up for candidates in the Midwest, wherecostof living is substantially cheaper than NYC, or more traditional financial hubs. However, even with a more level playing field from a base compensation perspective, candidates have proven to be focused on all in packages rather than just one element. Where companies have recently differentiated themselves has been around the non-financial benefits to sweeten an offer. Thingslike,work lifebalance, remote work capabilities, upward mobility and number of vacation days have proven to be a big deciding factor for about 70% of the candidates we have placed in the past year. On the financial sides of incentives, candidates are focused on bonus potential,long termincentives, and exam support.Hiring and Search AdviceGiven how competitive the market currently is, we recommend that hiring managers start to get a jump on their competition by making sure the interview process is quick and efficient. A number of our clients have lost out to other offers that were able to turn around a full interview process in under 14 days. Additionally, we also adviseto putyour best foot forward from an offer perspective from the get go. Candidates tend to feel more appreciated when they are presented with a strong offer rather than having to go back and forth trying to negotiate.From a candidate perspective, we have seen and continue to recommend that candidates jump into the market a bit early. Even if you have not received your next designation yet, or want to start a search in the summer months, the time is now to start laying the ground work, putting your name in the market and test the waters. We have seen that candidates who may be lighter on experience have a better chance of securing their dream job if they get ahead of the mass rush of resumes that tends to hit the market post bonus and exam season when the competition is extremely fierce.Outlook Moving ForwardWe anticipate that most of the hiring between now and the summer months will lean more towards the larger institutions with a wave of turnover in the middle of May once exam season wraps up. The majority of the roles in demand will remain at the 4-7 and 7-10 year mark with the majority of hires occurring in the Midwest. Overall we anticipate 2018 to continue to be a strong year of hiring regardless of the visa or salary restrictions that most of the country must face.--------------About UsSelby Jennings is a leading specialist recruitment agency for banking and financial services. For more than 15 years, we have given clients and candidates peace of mind that the recruitment process is in expert hands. Our continual investment in best-in-class technologies and consultant training enables us to recruit with speed, precision and accuracy. Today, Selby Jennings provides contingency and retained search recruitment across 11 offices in 6 countries. Contact us to find out how Selby Jennings can help you.

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