Actuarial Consultant Job Description

November 26, 20110 Comments

Actuarial Consultant Job Profile and Description

The actuarial consultant is basically the one who supposed to advise his or her client in decision making. The job is very demanding in the sectors of healthcare, investment banking and business management.  The main responsibility is to help the clients to determine the best schemes that are available in the market. He or she needs to analyze and calculate the information properly. The consultant needs to give advice regarding methods, plans, processes, ways while making pension, insurance or financial plan.

Duties and Responsibilities

There are the following duties and responsibilities of an actuarial consultant which are expected to be fulfilled:

·         The actuarial consultant has the main duty to assess the risk of a particular scheme.

·         He or she has to use the mathematical techniques and statistics concepts to determine risks.

  • It will be needed to apply different types of solutions for resolving business problems.
  • He or she needs to consult with other professionals for the development of the systems.
  • He or she has to ensure the compliance with the requirements of the regulatory bodies.
  • The duty includes put a keen attention to the new research and developments that arise in the business world.
  • He or she also has to undertake the entire company’s actuarial valuations.
  • The auctorial consultant has to work as a consultant for advising the clients on administration of life insurance and pension schemes and even on marketing.
  • The other main duty is to explain the risk and limitation pension insurance to the client.
  • He or she also has to advise about the financial schemes in details to their client.

Skills and Specifications

The required skills and specifications are as follows:

  • The person must have the required knowledge about the consultancy environment.
  • The person needs to have exceptional communication skills with interpersonal skills.
  • He or she must possess the capability of handling the client demands and requirements as well.
  • He or she should have the excellent managerial skill to do the effective management.
  • He or she should have the strong statistical and economical concept of the present business market.

Education and Qualifications

  • The basic degree for the position is a master’s or bachelor’s degree in any discipline of commerce or accountancy or economics.
  • It will be an added advantage for the person having a combination of a MBA degree in finance.

·         The person also needs to have the required past working experience in the consultancy field.

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