actuarial-consultant/references/tasks.md

Tasks & work activities — actuarial consultant

Source: O*NET 30.3, occupation 15-2011.00 (Actuaries).

Task statements

• [Core] Negotiate terms and conditions of reinsurance with other companies.
• [Core] Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
• [Core] Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
• [Core] Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
• [Core] Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
• [Core] Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
• [Core] Testify before public agencies on proposed legislation affecting businesses.
• [Core] Provide advice to clients on a contract basis, working as a consultant.
• [Core] Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
• [Core] Determine policy contract provisions for each type of insurance.
• [Core] Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
• [Core] Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
• [Supplemental] Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person disabled or killed in an accident.
• [Supplemental] Manage credit and help price corporate security offerings.
• [Supplemental] Explain changes in contract provisions to customers.

Detailed work activities

• Advise customers on technical or procedural issues.
• Advise others on legal or regulatory compliance matters.
• Analyze data to identify trends or relationships among variables.
• Analyze health-related data.
• Collaborate with others to develop or implement marketing strategies.
• Develop organizational goals or objectives.
• Manage financial activities of the organization.
• Negotiate contracts with clients or service providers.
• Provide customer service to clients or users.
• Testify at legal or legislative proceedings.