Actuarial recruiters meet staffing needs for firms that require actuarial services. This includes risk assessment and management for many types of insurance and financial products. Companies may turn to a recruiter rather than searching on their own for a variety of reasons, including a desire to streamline job searches or access candidates who might not think to apply, but instead need to be sought out. Large firms may retain their own recruitment departments as part of human resources to handle ongoing staffing needs.
When vacancies arise, actuarial recruiters meet with clients to discuss the specifics of the position. This includes the details of the job, ideally with a job description to provide information about what the company expects. The company can also discuss the qualifications it is looking for in applicants, such as specific certifications or a set number of years in experience. Actuarial recruiters can also discuss the pay range and benefits offered.
Companies with unrealistic expectations may be informed that they need to adjust the requirements or nature of the job to attract the best talent. For example, a company might be more competitive if it can offer more pay, or if it splits job responsibilities to avoid overloading personnel. Recruiters may place advertisements in publications relevant to the actuarial community by request from their clients. They can also conduct confidential searches where jobs are not advertised, a common tactic with executive positions because companies don’t want to raise worries among staff or investors by advertising for a vacancy in a key position.
Candidates for a position can be located in several ways. Some may respond to job listings published by actuarial recruiters, or may ask to have contact information kept on file at an agency for consideration in the event of a suitable vacancy. Recruiters can also attend job fairs and other events to network with people who might be suitable. Additionally, they can approach currently employed actuaries to determine if they are interested in seeking employment with a new firm.
Once a group of candidates is assembled, actuarial recruiters can go over their details and hold interviews to select a smaller number for consideration by the company. They provide contact information and profiles to allow the company to interview interesting candidates. If none of the candidates are suitable, the actuarial recruiters can return to the search to locate a new batch of prospects. This process may take months with sensitive placements like key executives.