Actuarial Associate

Roles and responsibilities

• Ph.D in Actuarial Science, Risk Management & Insurance, Statistics or a closely-related field obtained from an internationally reputable university, preferably accredited by AACSB.
• Excellent teaching record with at least two or more years of teaching experience gained at graduate and undergraduate levels in areas including (but not limited to) Actuarial Science, Sustainability & Risk Management, Financial Mathematics and related areas.
• Outstanding record of research and peer-reviewed publications in top-tier business journals, preferably indexed in Scopus, ABS or ABDC.
• Record of collaborative and interdisciplinary research.
• Demonstrable record of supervising student projects and dissertations .
• Excellent record of professional and community service.
  

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Design, deliver and assess in a timely manner assigned courses in Actuarial Science, Risk Management, Financial Mathematics, Business Analytics and others.
• Engage in innovative and technology-based approaches to teaching and learning
• Actively seek out methods, procedures and resources to best achieve course and lesson objectives
• Provide academic advising services to students
• Conduct high quality research and publish research outcomes in reputable journals and conferences
• Participate in committee and other service tasks at the department, college and/or university levels as assigned
• Actively engage in promoting the growth and visibility of Ajman University
• Provide consultancy and other industry-facing services to Ajman University partners and members of the business community
• Perform miscellaneous job-related duties as assigned
  

GENERAL:

• Attend and actively contribute to departmental and university meetings as appropriate.
• Assist with students’ recruitment efforts, including attendance at open days if required.
• Contribute to the strategic planning process at all levels, including participating in relevant working groups.
• Engage in continuous professional development.

Desired candidate profile

1. Mathematical and Statistical Expertise

• Mathematical Modeling: Proficient in creating mathematical models to analyze and predict financial risk, including understanding probability theory, stochastic processes, and financial mathematics.
• Risk Assessment: Ability to assess and quantify financial risks, including underwriting, pricing, and capital reserves in sectors like insurance, pensions, and health benefits.
• Statistical Analysis: Applying statistical methods to interpret large datasets, analyze trends, and forecast future outcomes in areas such as life expectancy, accident rates, or market behavior.
• Data Analysis Tools: Expertise in data analysis software like R, Python, MATLAB, or SAS to manage and analyze data sets and build predictive models.

2. Actuarial Exam Preparation and Certification

• Actuarial Exams: Preparation for and successful completion of actuarial exams (e.g., Society of Actuaries (SOA) or Casualty Actuarial Society (CAS) exams). Actuaries typically need to pass a series of professional exams to obtain certification.
• Professional Development: Commitment to continuous learning and staying up to date with new actuarial models, industry standards, and regulatory changes. This includes attending seminars, workshops, and maintaining professional certifications.

3. Insurance and Risk Management

• Pricing and Valuation: Understanding how to set pricing models for insurance products by calculating premiums, assessing policyholder risks, and ensuring financial sustainability of insurance products.
• Claims Modeling: Developing models for claims forecasting and risk mitigation strategies for insurance companies, including health, life, auto, and property insurance.
• Reserves and Solvency: Evaluating and establishing insurance reserves, ensuring that sufficient funds are available to cover future liabilities and meet solvency requirements.
• Financial Reporting: Assisting in the preparation of financial reports and evaluating the company’s financial position, profitability, and risk exposure.

4. Financial and Pension Systems

• Pension Plan Design: Contributing to the design and financial evaluation of pension plans, determining the amount of contributions required to fund benefits for pension participants.
• Investment Strategy: Evaluating investment strategies for pension plans and other financial products, including asset-liability modeling, portfolio optimization, and long-term financial projections.
• Longevity and Mortality Analysis: Conducting research into mortality and longevity trends to help define pension funding needs, life insurance policies, and annuity rates.

5. Mathematical and Computational Techniques

• Risk Modelling: Building and refining risk models that are used to estimate the likelihood and impact of future events, such as claims, market volatility, or catastrophic events.
• Simulation Methods: Using Monte Carlo simulations or other stochastic modeling techniques to simulate and assess potential future scenarios and outcomes in a probabilistic framework.
• Actuarial Software: Familiarity with actuarial software tools such as Prophet, AXIS, or GGY AXIS for modeling, pricing, and valuing insurance products and financial instruments.

6. Communication and Reporting

• Technical Reports: Writing clear and comprehensive reports that explain complex actuarial models, assumptions, and conclusions for a non-technical audience, such as company executives or regulatory bodies.
• Client and Stakeholder Communication: Communicating actuarial findings and risk analysis to clients, colleagues, and management in a way that informs decision-making and strategy.
• Presentation Skills: Presenting findings from actuarial studies to both technical and non-technical audiences, using visual aids like charts, graphs, and tables to help convey complex information.

7. Teaching and Mentoring (in an Academic Context)

• Curriculum Development: Designing and teaching courses in actuarial science, mathematics, and statistics for undergraduate or graduate students. Developing course materials and assignments that help students prepare for professional actuarial exams.
• Student Mentorship: Providing guidance and mentorship to students pursuing actuarial careers, helping them understand the professional pathway, actuarial exams, and the application of actuarial principles in practice.
• Collaborative Research: Engaging in collaborative research with faculty or industry professionals to explore new actuarial techniques, models, and applications.

8. Regulatory Compliance and Ethics

• Legal and Regulatory Knowledge: Understanding and adhering to regulations and standards in the actuarial profession, such as the American Academy of Actuaries’ Code of Professional Conduct and the International Actuarial Association (IAA) guidelines.