Actuary Consultant III Salary in Litchfield, Illinois

The Actuary Consultant III compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Being an Actuary Consultant III records and tracks accruals, claims, and settlements and prepares documents for input into regulatory filings, financial budgets, forecasts, and other financial projections. Assists with product design and development by analyzing risk groups and calculating appropriate insurance rates, premium levels, and rating systems and structures. In addition, Actuary Consultant III applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Requires a bachelor's degree. Must be currently pursuing the designation of ASA (Associate) in the Society of Actuaries. Typically reports to a manager. Being an Actuary Consultant III work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. Working as an Actuary Consultant III typically requires 4-7 years of related experience. (Copyright 2024 Salary.com)

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