How much does an Actuarial Services Director make in Maine? The average Actuarial Services Director salary in Maine is $271,543 as of March 26, 2024, but the range typically falls between $237,321 and $305,496. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.
Percentile | Salary | Location | Last Updated |
10th Percentile Actuarial Services Director Salary | $206,164 | ME | March 26, 2024 |
25th Percentile Actuarial Services Director Salary | $237,321 | ME | March 26, 2024 |
50th Percentile Actuarial Services Director Salary | $271,543 | ME | March 26, 2024 |
75th Percentile Actuarial Services Director Salary | $305,496 | ME | March 26, 2024 |
90th Percentile Actuarial Services Director Salary | $336,408 | ME | March 26, 2024 |
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Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Consulting: Providing technical or business expertise and advice to internal or external clients.
Client Relationship: Client relationship managemen is focused on building relationships with clients to ensure that their needs are met, they are satisfied with the services and/or products provided by the company.
Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
Actuarial Services Director directs the activities of an organization's actuarial function. Oversees the analysis and evaluation of potential risks to determine the financial impacts of new or existing insurance plans. Being an Actuarial Services Director develops policies, procedures, and formulas to guide statistical analysis and actuarial research and evaluate the likelihood and financial impact of various risks. Designs processes and guidelines to ensure regulatory compliance of products and financial operations. Additionally, Actuarial Services Director leads the design and development of insurance products by evaluating and approving insurance rates, premium levels, and rating systems and structures. Oversees the preparation of actuarial reports, financial statements, and regulatory filings and develops financial budgets, forecasts, and other financial projections. Researches and selects major rating assumptions to support accurate statistical analysis and evaluates the effectiveness of existing formulas. Evaluates product performance against established profitability targets and recommends modifications. 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. May require Associate of Society of Actuaries (ASA). May require Fellow of Society of Actuaries (FSA). Typically reports to senior management. The Actuarial Services Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. To be an Actuarial Services Director typically requires 5+ years of managerial experience. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. (Copyright 2024 Salary.com)... View full job description
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Location | Avg. Salary | Date Updated |
---|---|---|
Location Saco, ME | Avg. Salary $275,450 | Date Updated March 26, 2024 |
Location Windham, ME | Avg. Salary $275,729 | Date Updated March 26, 2024 |
Location Abbot, ME | Avg. Salary $264,566 | Date Updated March 26, 2024 |
Location Acton, ME | Avg. Salary $282,427 | Date Updated March 26, 2024 |
Location Addison, ME | Avg. Salary $264,566 | Date Updated March 26, 2024 |
Location Albion, ME | Avg. Salary $264,566 | Date Updated March 26, 2024 |
Location Alfred, ME | Avg. Salary $281,032 | Date Updated March 26, 2024 |
Location Alna, ME | Avg. Salary $273,217 | Date Updated March 26, 2024 |
Location Andover, ME | Avg. Salary $273,217 | Date Updated March 26, 2024 |
Location Anson, ME | Avg. Salary $264,566 | Date Updated March 26, 2024 |
A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.
For Actuarial Services Director, the first career path typically progresses to VP of Actuarial Services.
Salary.com's CompAnalyst platform offers:
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Jobs with different levels of education may pay very differently. Check the Actuarial Services Director salary of your education level.
A job category is a classification or grouping of job positions that share similar characteristics, functions, or industries. Actuarial Services Director salary varies from category to category. Click below to see Actuarial Services Director salary in different categories.
About Maine To the south and east is the Atlantic Ocean and to the north and northeast is New Brunswick, a province of Canada. The Canadian province of Quebec is ....More
Skills associated with Actuarial Services Director: Regulatory Reporting, Probability Analysis, Academic Focus: Mathematics, Risk Analysis ...More
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