Benefits Actuary
Minneapolis, United States of America
Actuarial
2300DY
Working at Lockton
At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here.
Business unit
Founders Series
Schedule
Full-time
Job type
Standard
Your Responsibilities
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The Actuary analyzes data to construct probability tables and models to forecast risk and liabilities. Based on forecast models, this role designs creative programs to protect organizations from undesirable events and decreases the impact of undesirable events that do occur.
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Conducts analysis, pricing and risk assessment to estimate financial outcomes
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Applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in insurance sectors such as life, health, social and casualty insurance, annuities, and pensions
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Develops probability tables regarding fire, natural disasters, death, unemployment, etc. based on analysis of statistical data and other pertinent information
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Supports the growth of Lockton’s practice by providing creative, substantive, and effective responses to the unique needs of Clients
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Assistants with the identification and development of new and existing business opportunities in all related areas
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Estimates the Client’s financial liability for claims that have been incurred by not yet reported
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Estimate the Client’s financial liability for a plan year and assists in develops a sounds budget accordingly
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Estimated the impact on claims costs cause by changing networks through a disruption analysis
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Advises the Client on the best stop loss option through the application of probability simulations, comparing the cost of being fully insured or self-insured
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Performs other responsibilities and duties as needed
Qualifications
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Bachelor’s degree in economics, finance or related field, and/or years of experience equivalent
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The completion of 1-2 actuarial exams prior to being hired in position
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Must continue to study and pass additional exams administered by the Society of Actuaries
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0-2 years of experience in a data or financial analyst role
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Understands industry trends and governmental regulations
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Ability to complete continuing education requirements as needed
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Ability to attend company, department, and team meetings as required, including industry training sessions
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Ability to comply with all company policies and procedures, proactively protecting confidentiality of client and company information
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Ability to efficiently organize work and manage time in order to meet deadlines
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Ability to travel by automobile and aircraft
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Ability to use office equipment such as a computer, keyboard, calculator, photocopier, and facsimile machine
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Ability to work on a computer for a prolonged amount of time
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Ability to work outside of normal business hours as needed
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Legally able to work in the United States
Equal Opportunity Statement
Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity.
At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences. As such, we recognize that recruiting, developing and retaining people with diverse backgrounds and experiences is vital and enabling our people to thrive personally and professionally is critical to our long-term success.
About Lockton
Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000+ Associates doing business in over 100 countries are empowered to do what’s right every day.
At Lockton, we believe in the power of all people. You belong at Lockton.
How We Will Support You
At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it.
We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing.
No Agencies Please
Any Employment Agency, person or entity that submits an unsolicited resume to this site does so with the understanding that the applicant's resume will become the property of Lockton Companies, Inc. Lockton Companies will have the right to hire that applicant at its discretion and without any fee owed to the submitting Employment Agency, person or entity. Employment Agencies, who have fee Agreements with Lockton Companies must submit applicants to the designated Lockton Companies Employment Coordinator to be eligible for placement fees.
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