at DELOITTE CONSULTING LLP in Chicago, Illinois, United States
Deloitte Consulting LLP seeks a Consulting, Consultant in Chicago, Illinois and various unanticipated Deloitte office locations and client sites nationally.
Work You’ll Do
Perform reserve analyses, including Statements of Actuarial Opinion, pricing, mergers and acquisitions, financial modeling, economic capital modeling, enterprise risk management, new product development, strategic planning, pricing strategy development, target market assessments, and competitive assessments of coverage and rating. Combine statistics, financial theory, mathematics and business management for the purpose of predicting future events; assess the risk of those events, and help businesses and clients develop policies that minimize the cost of that risk. Develop rating models and factors for new product development and product enhancements, profitability analysis and audit support. Provide insurance and retirement industry insight and analytical support, in accordance with IRS regulations. Assist in designing and evaluating employee benefit programs; determine the adequacy, funding requirements, and financial impact of these plans, and ensure compliance with government regulations and financial accounting standards. Also, conduct a needs assessment to determine the best benefits selection and design based on the needs of employees. Calculate the present value of future payments that would be made to the employees as part of the employee benefit plans. Develop actuarial assumptions about future salary increment rates, employment attrition, and mortality rates. Assess whether the company holds the required level of assets to match the employee benefits’ liability. Perform annual certification of funding amounts to the federal government (IRS).
- 50% Travel required nationally.
- Telecommuting permitted.
- Work location includes various unanticipated Deloitte office locations and client sites nationally.
Bachelor’s degree or foreign equivalent in Business Administration, Mathematics, Economics, Statistics, Actuarial Science, any STEM field, or a related field. Must have one year of related work experience in the job offered or in a related occupation. Position requires one year of related work experience in each of the following:
- Utilizing data mining, pattern matching, data visualization, and predictive modelling tools, including Microsoft (MS) Excel, Visual Basic for Applications (VBA), SAS, and Alteryx to produce analysis and algorithms;
- Creating estimates of probability and likely costs for a given event, including death, natural disaster or sickness;
- Analyzing the financial consequences of risk using predictive modelling, exposures, historical and industry data, and actuarial methodologies to study uncertain future events, including those of concern to insurance and pension programs;
- Calculating deferred acquisition costs, unpaid claims liabilities and benefit reserves for general liability and workers' compensation using standard Property and Casualty (P&C) reserving methodologies including Chain Ladder (CLM), Bornhuetter-Ferguson, and Frequency-Severity methods;
- Validating assumptions applied in projections and testing key actuarial reserve balances using reserving models, actuarial judgement, and sensitivity testing; and
- Providing analytical and technical support by performing financial statements analysis, including underlying assets performance, projected cash flows, analytics reconciliation, trending analysis, and industry benchmarking and sensitivity analysis utilizing horizontal and vertical analysis, and financial ratios.
To apply visit apply.deloitte.com. Enter XBAL23FC0323CHI4019 in “Search jobs” field. If offered employment, must have legal right to work in U.S. EOE, including disability/veterans.