Business Analyst (Actuarial)

Job Title: Business Analyst (Actuarial)

Position Type: Contract

Location: Cary, NC Hybrid (3 Days office) Contract

JOB DESCRIPTION:     

We are seeking an experienced Insurance Business Analyst with strong Actuarial domain expertise to support Retail Life Insurance initiatives The ideal candidate should have deep knowledge of Life Insurance products including Term Life Whole Life WL Universal Life UL and Variable Universal Life VUL and experience working closely with business stakeholders actuarial teams underwriting product management and technology teams to drive business transformation and system enhancements

Key Responsibilities

 Gather analyze and document business requirements for Life Insurance products and actuarial processes

 Collaborate with actuarial product underwriting policy administration and IT teams to define business solutions

 Translate business requirements into functional specifications process flows user stories and acceptance criteria

 Support product development pricing valuation reserve calculations and regulatory reporting initiatives

 Work on policy lifecycle processes including New Business Policy Administration Billing Claims and Servicing

 Analyze impacts of product changes and ensure alignment with business objectives and actuarial assumptions

 Facilitate workshops stakeholder meetings requirement walkthroughs and UAT sessions

 Support testing activities by developing test scenarios reviewing test results and validating business outcomes

 Perform gap analysis and identify opportunities for process improvement and automation

 Ensure compliance with insurance regulations and actuarial standards

Required Skills  Experience

Insurance Domain

 Strong experience in Retail Life Insurance

 Indepth understanding of

    Term Life Insurance

    Whole Life WL

    Universal Life UL

    Variable Universal Life VUL

 Knowledge of policy administration and life insurance operations

Actuarial Expertise

 Strong understanding of

    Actuarial models and methodologies

    Pricing and product development

    Reserves and statutory reporting

    Mortality and lapse assumptions

    Risk analysis and profitability studies

    Experience working with actuarial teams and actuarial calculations

Business Analysis

 Requirement gathering and elicitation

 BRD FRD User Stories Use Cases

 Process Mapping and Gap Analysis

 AgileScrum and Waterfall methodologies

 Stakeholder Management

 UAT Planning and Execution

Nice to Have

 Experience with US Canadian or LATAM Life Insurance markets

 Experience in product migrations digital transformation or cloud modernization programs

 Knowledge of regulatory frameworks and actuarial reporting standards

Key Competencies

 Strong analytical and problemsolving skills

 Excellent stakeholder management

 Effective communication and documentation skills

 Ability to bridge business and technology teams

 Strong understanding of life insurance products and actuarial concepts