GEICO is seeking highly-motivated individuals committed to an actuarial career to join us as an Actuarial Assistant. This career track is well suited for mathematics, economics and actuarial science majors, or those majoring in a related field emphasizing strong quantitative and analytical skills.
We offer opportunities in two key areas – pricing and reserving. As a pricing actuary, you will assist in setting rates for our various insurance products. In reserving, you'll help determine the amount of money GEICO needs to hold in reserve in order to make future payments on existing claims. Many actuaries rotate between the pricing and reserving areas to develop a well-rounded company and career perspective.
Actuaries make proposals to assist the company with properly managing its risk. On a typical day, this may include extracting and analyzing premium and loss data, using computer and statistical programs, evaluating results for reasonability and communicating observations to various teams to help achieve bottom-line goals.
GEICO's actuaries do more than crunch numbers – they tackle a variety of problems such as creating business strategies, developing and enhancing products, presenting proposals to management and forecasting and assessing industry trends. Actuaries are key members of GEICO's management team, as a wide range of important decisions are based on their projections and professional opinions.
An important part of an actuary's professional development involves advancing through a series of exams offered by the Casualty Actuarial Society. At GEICO, we provide you with up to 115 paid study hours per exam along with opportunities to take review courses, financial support for CAS exams, onsite quiet rooms for studying and an exam coordinator to assist with exam processes. As you pass your exams, you may be eligible for raises and first-time passing bonuses!
• A bachelor's degree in mathematics, economics, actuarial science, statistics, or a related field
• A cumulative and in-major GPA of at least 3.0 and 3.2, respectively
• Proven quantitative, analytical, and problem-solving abilities
• Highly effective communication skills
• Strong computer skills, including Excel and some programming knowledge
• Demonstrated leadership potential
• At least one actuarial exam, and a commitment to take and pass the remaining exams
• A desire to live in the Washington, DC area
Apply on company website