Actuarial Analyst - job 1 of 2

As an Actuarial Analyst at Vela Insurance Services, your primary responsibilities will include performing analyses related to reserving and data analytics, organizing and reconciling data for reserve analyses, and collaborating with other actuarial team members to understand loss trends. You will also participate in the quarterly close processes, using various actuarial techniques to determine ultimate losses.

To apply for the Actuarial Analyst position at Vela Insurance Services, you should have a Bachelor's degree in a relevant field, such as mathematics or actuarial science, along with a minimum of three casualty actuarial exams completed and at least three years of pertinent experience, particularly in reserving.

Vela Insurance Services encourages the professional growth of its Actuarial Analysts by providing opportunities to work with experienced team members, access to innovative tools, and the chance to participate in projects that involve transitioning to new platforms. Our culture promotes learning and development, making it perfect for aspiring actuaries.

For the Actuarial Analyst position at Vela Insurance Services, you should be proficient in MS Office tools (Excel, PowerPoint, Word), have strong knowledge of SQL, and ideally possess intermediate skills in Power BI, Tableau, R, or Python to enhance your data analysis capabilities.

The salary range for the Actuarial Analyst role at Vela Insurance Services typically falls between $90,000 and $120,000, depending on various factors such as the complexity of the role, your skills, experience, and other employment conditions.

In an interview for the Actuarial Analyst position, discuss various reserving techniques such as the Chain-Ladder Method, Bornhuetter-Ferguson Method, or others you are familiar with. Share examples of when you’ve applied these methods in real scenarios, highlighting your analytical skills.

To answer this question effectively, emphasize your analytical thinking and problem-solving abilities. You could describe your approach to verifying data sources and collaborating with teams to resolve discrepancies while maintaining transparency in your methodology.

In your response, touch on how inflation affects the cost of claims, potentially leading to higher reserves for insurers. Share insights on how you would evaluate inflationary trends and integrate them into your reserving analyses at Vela Insurance Services.

Discuss your proficiency in SQL and share specific examples where you have utilized it for data analysis and manipulation. Highlight how this experience will aid you in gathering and interpreting data for effective decision-making as an Actuarial Analyst.

Prepare to share a meaningful challenge related to analysis or teamwork. Focus on your problem-solving techniques and the collaboration skills that helped you overcome the hurdle, reflecting your readiness for the role at Vela Insurance Services.

To effectively answer this, demonstrate your communication skills by explaining a topic simply and clearly. Share a previous experience where you presented actuarial concepts to stakeholders outside your field, emphasizing how you adjusted your language and examples.

Highlight your attention to detail and the processes you implement to review and verify your analyses. Consider mentioning peer reviews or systematic checks that ensure your data analysis is accurate and reliable during your tenure at previous positions.

Discuss your proactive learning approach through online courses, workshops, or self-study. Mention specific instances where you quickly adapted to new software to enhance your data visualization capabilities, which would be beneficial for your work at Vela Insurance Services.

Demonstrate your organizational skills by describing a systematic approach to prioritization. Share tools or techniques you use to track deadlines and deliverables, ensuring efficiency and quality in your work as an Actuarial Analyst.

Prepare a genuine response that showcases your admiration for Vela's specialized insurance solutions and workplace culture. Highlight how the company's commitment to innovation and excellence aligns with your career aspirations in the actuarial field.