Actuary Consultant V Salary in Chicago, Illinois

The Actuary Consultant V 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 V 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 V 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. Requires Associate of Society of Actuaries (ASA). Typically reports to a manager. Being an Actuary Consultant V works autonomously. Goals are generally communicated in "solution" or project goal terms. May provide a leadership role for the work group through knowledge in the area of specialization. Works on advanced, complex technical projects or business issues requiring state of the art technical or industry knowledge. Working as an Actuary Consultant V typically requires 10+ years of related experience. (Copyright 2024 Salary.com)

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