Job Description GEICO seeks a highly-motivated individual committed to an actuarial career to join us as an Actuarial Assistant. This position will start you on a career track that 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.
In either role, you will work not only with auto data but also motorcycle, RV, ATV and related products. Many actuaries rotate between the pricing and reserving areas to develop a well-rounded company and career perspective.
Actuaries analyze data to make decisions that allow the company to properly manage 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 to115 paid study hours per exam along with opportunities to take review courses, financial support for CAS exams and VEE courses, 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!
- Bachelor's degree in mathematics, economics, actuarial science, statistics or related field preferred
- 3.0 overall GPA, 3.2 in-major
- SAT (or other standardized test) score of at least 600 in math and 500 in other sections
- Very good quantitative, analytical and problem-solving skills
- Effective written and verbal communication skills
- Strong Word and Excel skills
- Some computer programming knowledge useful (such as Access, SAS SQL or other programming language)
- Commitment to take and pass actuarial exams, with preference given to candidates who have passed at least one exam
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