Early Careers: Actuarial Specialist

Aon

Nov 20

Applications are closed

Job
Full-time
Entry Level
Consulting
Banking & Finance
Saint Louis, +12

Requirements

Calling all Collaborators, Critical Thinkers, Problem Solvers, Team Players, Effective Communicators, Relationship Builders and Future Leaders.
We aim to recruit a diverse group of professionals who offer varying experiences, backgrounds and strengths to ensure we can continue to offer the most innovative solutions to our clients. Additionally, we take into consideration the following:
Relevant work or internship experience. 
Involvement in extracurricular activities. 
Proficiency in Microsoft office products such as Word, PowerPoint, Excel and Outlook is required. 
Outstanding quantitative and analytical skills
Strong written and verbal communication skills
Enjoy working on complex, mathematically-oriented projects
Education:
Bachelor’s Degree in Actuarial Science, Statistics, or related
Have passed at least one actuarial exam, preferred
If you graduate between Spring 2023 and Spring 2024 with a GPA of 3.0+,this opportunity is for you!

Responsibilities

Retirement Consulting:
Pension and other retirement plans have enormous financial implications for employers. Actuaries within Retirement Consulting work directly with our clients’ management teams to assess the short and long-term costs associated with these commitments.
You will have the opportunity to work on a variety of assignments. Some of the most important projects that retirement actuarial consultants work on are the annual pension “valuations.” Each year, actuaries collect census data from the clients and perform the annual valuation. With the results of these valuations, we help our clients assess the ongoing financial health of their pension plans. Additional activities include:
Projections (both stochastic and deterministic) of long-term financial information for pension and other post-retirement benefit plans
Coordination of asset-liability analysis and other studies with investment consultants
Merger and acquisition “due diligence” and related activities
Design and costing of new retirement programs.
Programming innovative pension administration systems
Pension benefit calculations for participants
Union negotiation support and analysis
Quantitative comparison of comprehensive employee benefit programs for groups of employers
Health and Benefits Consulting (H&B):
Employer-sponsored health and welfare benefit programs form the foundation of the U.S. health care system. These programs have evolved over time as employers have attempted to manage the changing needs of employees, rising program costs, and the impact of new legislation while supporting their human resource and business strategies.
You will have the opportunity to work on a variety of assignments. Health and Benefits actuaries support consultants and work directly with our clients to develop short and longer-term health and welfare benefit strategies. This process involves strategic assessments of the health care market and key trends and the identification of new and innovative solutions to employer problems. The technical and analytical skills H&B actuaries bring to this process are critical to our H&B consulting. Additional activities include:
Evaluate plan design and costs relative to various measures and benchmarks with reporting to clients
Health care budget rate-setting for self-insured plans including the analysis of medical and prescription drug network changes
Employee contribution rate development and scenario analysis
Analyze insured plan renewals for appropriateness and carrier bid financial evaluations
Retiree medical and disability plan valuations
Risk Consulting:
Aon Global Risk Consulting (AGRC) Actuarial & Analytics Practice is the third largest North American Property and Casualty Consulting firm, providing actuarial services to clients for more than 20 years. The practice is comprised of highly skilled and experienced professionals in the risk quantification and analysis field.
As a Launch colleague within our Risk Consulting practice, you will have the opportunity to work on projects to assess exposure to P&C risk by loss forecasting for budgeting and risk management strategy evaluation, calculating actuarial reserves for financial statement support, providing actuarial opinions for regulatory support, and evaluating total cost of risk for effective financial and risk management solutions. Additional projects you might work on include:
Support analytical work including data management, loss forecasting, accruals, self-insurance analysis and cash flow analysis
Collect, organize and analyze data, in support of existing brokerage business and proposal development
Prepare and maintain effective documentation of all client correspondence
Apply existing approaches to processes to specific client assignments, alerting AGRC service team to deficiencies in data, results or processes
Contribute to the enhancement of overall assignment results by improving specific operational procedures
Complete routine client service tasks efficiently, delivering products and services, accurately and on time, by applying Aon protocols
Reinsurance Actuarial Consulting:
Unprecedented volatility is creating new risks and opportunities for organizations across the global economy. We provide risk transfer, claims advocacy and capital management solutions to help re/insurers reduce volatility and build more resilient businesses, governments and communities.
Your primary role is to support clients as requested by supervisor or brokers, across virtually any client project or internal research assignment. Analysts are expected to develop proficiencies in completing standard analyses, while also taking part in more advanced analyses as needed. You will become familiar with Aon’s tools and approach, contribute to their development and present Aon’s solutions and services to our clients. Secondary role is to assist in pricing parameter updates and market research. Additional activities include:
Work with colleagues (brokers, analytics and others) to identify and respond to client needs and develop additional opportunities related to products and services
Inventory and manage data related to analysis of reinsurance transactions
Analyze the costs and benefits of risk transferred under reinsurance agreements via pricing analysis and dynamic risk modeling with limited guidance
Understand reinsurance contracts and products (terminology, terms and conditions)
Prepare client-ready presentations to communicate analysis results to brokers and clients
Manage workflow proactively
Take initiative on internal projects to improve processes, products or services
Take ownership and responsibility for quality, accuracy and timely completion of analysis

Aon

Aon is in the business of better decisions

Consulting

Industry

10,001+

Employees

1940

Founded Year

Mission & Purpose

Aon is a global professional services firm that specializes in risk management, insurance brokerage, and human resources solutions. They offer a wide range of services including risk assessment, insurance brokerage, retirement and health solutions, and data analytics. Aon's ultimate mission is to empower clients to manage risk effectively, optimise their resources, and make informed decisions that drive business growth and resilience. Their purpose is to help clients navigate the complexities of risk and talent management, providing innovative solutions and insights that enable organisations to mitigate risks, protect assets, attract and retain talent, and enhance overall operational performance. Aon aims to be a trusted advisor, offering customised solutions that address the unique challenges of their clients across industries, ensuring they are well-prepared and positioned for success in a rapidly changing world.