Session Categories

Session Categories

Skills-based Learning Topics

Data Science, Data Analysis and Predictive Analytics

• Extract and transform information from databases.
• Identify data sources.
• Understand and inform database design as it pertains to actuarial work.
• Test, validate and clean data for use in analysis.
• Identify and explain conclusions that emerge from data analysis.
• Demonstrate superior analytical skills; the ability to take large amounts of complex information and synthesize it into something meaningful.
• Have working knowledge of Excel, database, and statistical analysis language.
• Provide data analyses that support management decisions.
• Understand common uses of new or emerging analytical methods.
• Understand key concepts in developing data sets for predictive modeling.
• Apply key concepts in developing data sets for predictive modeling.
• Perform predictive modeling using GLM and nonlinear methods.
• Understand the use and limitations of unsupervised machine learning.
• Know at least one relevant tool such as R or Python language to perform predictive analytics.

Actuarial Modeling and Analysis

• Perform actuarial analysis and modeling, including but not limited to reserves, pricing, and forecasting.
• Perform an actual to expected analysis of results.
• Perform actuarial analysis and modeling, including pricing and forecasting.
• Perform experience studies and assist in development of pricing, projection, or valuation assumptions.
• Create, build, update, enhance, run, validate, and document actuarial models.
• Perform ad hoc actuarial analysis.

Risk Management

• Analyze, interpret, and present numerical data related to pricing, reserves, and other actuarial analysis.
• Ensure proper documentation and controls of all work and models, including pricing assumptions, processes, methodology, and results.
• Knowledge of pricing, valuation and/or financial reporting standards, systems, and processes.
• Analyze data and present analysis in a format appropriate for pricing, loss reserving, product development, reinsurance, and other financial analysis.
• Perform periodic risk and sensitivity analyses.
• Perform industry research to establish actuarial assumptions and methodologies used in pricing, reserving, or forecasting models.

Pricing and Product Development

• Perform pricing and profitability analysis for a wide variety of actuarial solutions.
• Support the design and pricing of new products and/or coverages.
• Understand technical pricing, product development analytics and performance measurement.
• Perform pricing and profitability analysis of all products, including analysis of results, reconciliation and attribution of changes, communication of results to management, and detailed documentation.
• Adapt pricing methodologies and models for innovative new products and benefits.
• Be responsible for technical pricing, product development analytics and performance measurement.

Valuation and Financial Analysis

• Provide mathematical and technical support in the management of actuarial products.
• Calculate, analyze, report, and explain reserves and other actuarial financial statement items.
• Assist in preparing the actuarial portion of financial statements following GAAP, statutory or tax reporting principles, or the applicable international principles.
• Provide valuation support by interpreting financial results and variances from forecast to help identify emerging trends to assist in risk management of the financial security system.
• Plan, develop, and evaluate financial security system pricing, valuation, reserving and/or financial reporting actuarial needs.
• Support the timely reporting of reserves and other actuarial input into the monthly, quarterly, and annual financial reporting process.

Business Skills for Actuaries

• Effectively interact with other professionals.
• Bridge analytics and business decision making.
• Work as a team member, while contributing technical and actuarial content.
• Collaborate across actuarial and non-actuarial teams.
• Understand the drivers of profit and loss.
• Sort through a business problem and determine the issues that must be addressed.

Generating Business Insights

• Explain model results.
• Understand and communicate variations in predicted outcomes.
• Respond to actuarial questions and requests.
• Provide actuarial support to key stakeholders including management, board, internal auditors, external auditors, etc.
• Deliver simple, summary level, financial models that effectively communicate business issues and risks.
• Apply actuarial techniques to analyze, interpret and classify risks and communicate results to more senior actuaries.

Communication and Influencing Informed Decision Making

• Communicate actuarial results to managers and leadership.
• Communicate technical information to an audience in a way that they understand the information.
• Communicate technical information to an audience in a way that they understand the information.
• Communicate complex financial models to management in a way that enables them to understand risks and opportunities.
• Effectively communicate information to various audience levels and recognize the level of the audience in each situation.
• Condense complex actuarial calculations and risk analyses and present them to others so that they understand the relevance.
• Understand Tableau language and/or other tools to prepare data visualizations that enhance the presentation of results.

Professionalism and Business Ethics and Diversity

• Demonstrate being morally sensitive to ethical dilemmas in business and identify ethical issues in actuarial work.
• Keep abreast of the Actuarial Code of Conduct and the Actuarial Standards of Practice.
• Meet actuarial qualification standards to issue Statements of Actuarial Opinions.
• Understand how a diversity, equity, and inclusive culture creates a culture of belonging.
• Understand and mitigate biases that may exist in data, assumptions, and models that impact actuarial services.