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Actuarial Intern - Summer 2025

What You Can Expect In This RoleProvide quantitative support for new and existing products and policies, supporting corporate profitability objectives and other business initiatives. Internship Information: Our Internship program is designed to give students experience with projects and performing tasks within their hired work area. You will be exposed to other areas within the organization by participating in development, culture and volunteer events. This paid internship is 8-10 weeks in length with the possibility of extending hours into the school year.Our internship program holds an 80/10/10 approach, meaning that 80% of your work time will involve performing tasks or working on projects within your hired work area. Another 10% of the time, you will be exposed to learning in other areas within your assigned division to get more corporate experience. Then, the final 10% will be spent in shared experiences across the organization, where you will get to really learn about our culture and work environment.What You'll Do In This Role• Assist with analyses of new products and inforce business, including rate setting, data analysis, profitability projections, research, and summarizing results.• Build spreadsheet tools to analyze product and policy data.• Modify and run actuarial models as needed, reviewing appropriateness of results.• Provide technical assistance with regard to questions, calculation, or problems encountered in other departments.• Assist in the creation of reports and written communications with internal key stakeholders, as needed.• Analyze, summarize and present on usage of distributed processing systems.• Commitment to embrace Sammons Financial Group Companies shared values (Accountability, Connection, Openness, Respect and Integrity).• As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.• Other duties as assigned.What We're Looking For• Individuals pursing their bachelor’s degree in Actuarial Science, Mathematics, Finance or Preferred• Successful completion of at least 1 Society of Actuaries (SOA) exam Preferred• A basic understanding of insurance Preferred• High level of mathematical ability, including a good working knowledge of calculus, linear algebra, probability and statistics and numerical analysis• Strong Computer skills, including experience with spreadsheets. Experience with SQL or SAS a plus• Strong communication skills, both verbal and writtenOther Requirements• Criminal background check required.What you can expect when you join Sammons Financial GroupOur Internship program is designed to give students experience with projects and performing tasks within their hired work area. You will be exposed to other areas within the organization by participating in development, culture and volunteer events. This paid internship is 10+ weeks in length with the possibility of extending hours into the school year.Our internship program holds an 80/10/10 approach, meaning that 80% of your work time will involve performing tasks or working on projects within your hired work area. Another 10% of the time, you will be exposed to learning in other areas within your assigned division to get more corporate experience. Then, the final 10% will be spent in shared experiences across the organization, where you will get to really learn about our culture and work environment.Work Authorization/SponsorshipAt this time, we’re not considering candidates that need any type of immigration sponsorship now or in the future or those needing work authorization for this role (This includes, but is not limited to students on F1-OPT, F1-CPT, J-1, etc.)

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$23
$26

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What You Should Know About Actuarial Intern - Summer 2025, Sammons Financial Group Companies

Are you ready to kickstart your career in the exciting field of actuarial science? Join Sammons Financial Group as an Actuarial Intern for Summer 2025 in beautiful Sioux Falls, SD! This isn’t just any internship; it’s a fantastic opportunity to gain hands-on experience while contributing to real projects that support our profitability objectives and business initiatives. Throughout this 8-10 week paid internship, you’ll spend the majority of your time diving into tasks and projects that directly impact our products and policies. You’ll assist in analyzing new and existing businesses, setting rates, and projecting profitability—all while developing valuable spreadsheet tools and actuarial models. Plus, with our unique 80/10/10 program, you’ll also have time for cross-department learning and fun cultural events, giving you a well-rounded view of our organization. We’re looking for dynamic individuals pursuing a degree in Actuarial Science, Mathematics, or Finance, preferably those who have taken at least one Society of Actuaries exam. If you have a strong mathematical foundation and exceptional computer skills, including knowledge of calculus, linear algebra, and maybe even SQL or SAS, we want to hear from you! By joining our team, you will not only enhance your technical skills but also build relationships in a collaborative and respectful environment, embracing the values that make Sammons Financial Group a place where you can thrive. This is your chance to make a meaningful impact while paving the way for future career opportunities within the actuarial field, so don't miss out!

Frequently Asked Questions (FAQs) for Actuarial Intern - Summer 2025 Role at Sammons Financial Group Companies
What responsibilities will I have as an Actuarial Intern at Sammons Financial Group?

As an Actuarial Intern at Sammons Financial Group, your main responsibilities will include providing quantitative support for various products, assisting with analyses of new offerings and current business, running actuarial models, and creating comprehensive reports. This hands-on experience will enhance your analytical and technical skills.

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What qualifications are required for the Actuarial Intern position at Sammons Financial Group?

To qualify for the Actuarial Intern position at Sammons Financial Group, candidates should be pursuing a bachelor’s degree in Actuarial Science, Mathematics, or Finance, with at least one Society of Actuaries exam completed. Strong mathematical abilities and proficiency with spreadsheet software are also essential.

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What is the duration and structure of the Actuarial Internship at Sammons Financial Group?

The Actuarial Internship at Sammons Financial Group lasts between 8-10 weeks, with a possibility to extend hours into the school year. The internship follows an 80/10/10 structure, meaning you'll spend 80% of your time on core tasks, 10% on cross-department learning, and 10% on cultural experiences.

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What skills will I develop during my internship at Sammons Financial Group?

Throughout your internship at Sammons Financial Group, you will develop valuable technical skills such as data analysis, rate setting, and the use of actuarial modeling tools. Additionally, you will sharpen your communication skills while working with key stakeholders and participating in team activities.

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Is prior experience required for the Actuarial Internship at Sammons Financial Group?

Prior experience is not required for the Actuarial Internship at Sammons Financial Group, as the role is designed for students and emerging professionals. However, a basic understanding of insurance concepts and familiarity with SQL or SAS would be beneficial.

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Common Interview Questions for Actuarial Intern - Summer 2025
Can you explain why you are interested in the Actuarial Intern position at Sammons Financial Group?

When answering this question, connect your academic background and career aspirations with what Sammons Financial Group offers—such as exposure to real-world actuarial tasks and the company's commitment to professional development.

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What do you understand about the role of an actuary?

To tackle this question, provide a clear definition of how actuaries assess risk and their involvement in analyzing data to inform business decisions, while also highlighting your enthusiasm for working in this field.

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Describe a project or analysis you have worked on during your studies.

Share a specific example that highlights your analytical skills, mentioning the objectives, your contributions, and the outcomes. This will demonstrate your practical application of actuarial concepts.

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What actuarial software or tools are you familiar with?

Be honest about your experience with software tools like Excel, SQL, or SAS, and mention any projects where you’ve utilized them to enhance your analytical work.

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How do you prioritize tasks when managing multiple projects?

Discuss your time management strategies, such as using agendas or project management tools, and provide an example of how you efficiently met deadlines in the past.

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Can you give an example of a time you worked in a team?

Frame your response around a collaborative project where you contributed and learned from team members, focusing on communication and teamwork skills.

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What mathematical concepts do you find most challenging?

Choose a specific concept that you faced difficulties with previously but highlight how you overcame that challenge through study or practice, showcasing your growth mindset.

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Why is attention to detail important in actuarial work?

Discuss the critical nature of precision in actuarial work, as even small errors can lead to significant financial implications, emphasizing your personal commitment to accuracy.

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How have you demonstrated leadership or initiative during your studies?

Provide an example where you took charge of a project or sought out new opportunities, illustrating your proactive approach and enthusiasm for growth within a team setting.

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What do you believe are the key skills that an Actuarial Intern should possess?

Mention essential skills such as analytical thinking, strong mathematical capability, effective communication, and adaptability and explain how you embody these qualities.

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We get it. In today's unpredictable world you need more than just a job and a paycheck. You deserve the whole package: a career that rewards you with growth, competitive pay, health coverage that works for your family, and retirement planning desi...

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Internship, on-site
DATE POSTED
December 19, 2024

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