Find out the top 10 core skills you need to master as an assistant actuary and what hard skills you need to know to succeed in this job.
An Assistant Actuary is accountable for compiling and computing data according to statistical formulas for use in actuarial studies as directed by the senior actuary. This position also performs actuarial computations as well as compile charts and graphs for use by the senior actuary.
The primary responsibilities include, organizing paperwork like the survey forms, reports for distribution and analysis, computing and analyzing data using statistical formulas, computers or calculators, entering data into computers for use in reports and analysis, compiling statistics from source materials like production and sales records, test records, quality control, time sheets and survey sheets, compiling reports, graphs and charts that describe and interpret the findings of analysis, checking and verifying data source and accuracy.
Core Skills Required to be an Assistant Actuary
Core skills describe a set of non-technical abilities, knowledge, and understanding that form the basis for successful participation in the workplace. Core skills enable employees to efficiently and professionally navigate the world of work and interact with others, as well as adapt and think critically to solve problems.
Core skills are often tagged onto job descriptions to find or attract employees with specific essential core values that enable the company to remain competitive, build relationships, and improve productivity.
An assistant actuary should master the following 10 core skills to fulfill her job properly.
Inspiring is encouraging one to be their best in contributing to the vision of an organization where they are placed and entrusted to work.
An Assistant Actuary must create a culture where the staff can use their professional prowess and aspire to be the best by giving them a clear vision and purpose through decisive leadership that motivates and inspires them.
Networking is the process that encourages an exchange of information and ideas among individuals or groups that share the same interests.
An Assistant Actuary is required to establish policies and procedures that govern networking to form professional relationships that will boost the future of business and employment prospects while maintaining regular contact with each other to gain each other's trust thus developing few quality relationships.
Strategic Planning is organizational management activity that is used to set priorities, focus energy and resources, strengthen operations while guaranteeing that employees and other stakeholders are working towards common goals.
An Assistant Actuary should be liable to develop the systematic tools to be used in the organization's processes that coordinate and align resources and actions with the mission, vision, and strategy throughout the organization.
Realistic Goal Setting:
Realistic Goal Setting is the skill to hone in the specific actions that we need to perform to accomplish everything we aspire to live.
An Assistant Actuary should invest his time in planning and set both short and long-term goals that stretch and initiates the growth in every employee causing each to perform at his level best bringing in real benefit to their life and the business as well.
Seeing Potential Problems:
Seeing Potential Problems is the ability to structure the current situations and identify developments that could cause problems in the future.
An Assistant Actuary needs to see potential problems before they occur and work to stop them early enough, he also has to stay ahead of the flow not to be caught you by upcoming issues that could be easily prevented if they were noted soon enough.
Time Management is the capacity for an individual to assign specific time slots to activities as per their importance and urgency to make the best possible use of time.
An Assistant Actuary must schedule each task within a stipulated period for each employee and ensure all the tasks are completed promptly thus actually teaching the staff the value of time and how to utilize it for the interest of the business and their growth.
Knowledge Management is the ability to manage knowledge and information that is presented to the company from different sources without overlooking any of them.
An Assistant Actuary ought to creatively channel all the new information, tools, input, and methodology mean by actively practicing the art of knowledge management within the business by harnessing the organization's inherent wisdom's platform in one place.
Writing Reports and Proposals:
Writing Reports and Proposals is the ability to record business reports and plans for the company or project following the policies and procedures of the company.
An Assistant Actuary should, therefore, emphasize the need and accuracy of these reports and plans to ensure they are delivered promptly, and the details within are accurate adhering to the company's policies and regulations without compromise.
Data Entry is a skill to key in information from various sources as directed by the management while keeping to the policies and procedures of the company and ensuring they are accurate.
An Assistant Actuary should prioritize hard skills over educational backgrounds when it comes to data entry because experience and familiarity with the common workplace software, attention to detail, confidentiality and databases is critical.
Mechanical Skills are the abilities to solve problems that arise in the workplace, although it may vary from one company to another.
An Assistant Actuary must be well equipped with technical skills to handle any underlying mechanical problem that may arise from wrong scheduling to meeting unique customer needs, budget, legal constraints, environmental and social issues, technology changes and any other management requirements.
Hard Skills Required to be an Assistant Actuary
Hard skills are job-specific skill sets, or expertise, that are teachable and whose presence can be tested through exams. While core skills are more difficult to quantify and less tangible, hard skills are quantifiable and more defined.
Hard skills are usually listed on an applicant's resume to help recruiters know the applicant's qualifications for the applied position. A recruiter, therefore, needs to review the applicant's resume and education to find out if he/she has the knowledge necessary to get the job done.
An assistant actuary should have a good command of the following hard skills to succeed in her job.