STATE CLASSIFICATION JOB DESCRIPTION


Salary Group B23

Class No. 2803

ACTUARY II

GENERAL DESCRIPTION

Performs moderately complex (journey-level) actuarial work. Work involves performing actuarial analyses and providing advice on actuarial matters. May train others. Works under general supervision, with moderate latitude for the use of initiative and independent judgment.

EXAMPLES OF WORK PERFORMED

Conducts actuarial examinations.

Conducts field examinations of regulated companies and prepares reports and findings.

Makes recommendations relating to life insurance, annuity reserves, regulated rates, and other actuarial matters.

Reviews rate-making data for accuracy and compliance with approved statistical plans.

Forecasts costs, risks, and liability of future benefits.

Determines premium rates required and cash reserves necessary to ensure payment of future benefits.

Prepares actuarial examination reports.

Develops actuarial and statistical plans and exhibits for distribution to the agency, staff, industry, and public.

May train others.

Performs related work as assigned.

GENERAL QUALIFICATION GUIDELINES

Experience and Education

Experience in actuarial or statistical analysis work. Graduation from an accredited four-year college or university with major coursework in statistics, mathematics, actuarial science, or a related field is generally preferred. Experience and education may be substituted for one another.

Knowledge, Skills, and Abilities

Knowledge of actuarial formulas, methods, and procedures; and of loss-reserving and pricing methods.

Skill in applying actuarial principles and techniques and in the use of actuarial computer applications.

Ability to interpret insurance regulations and procedures, to communicate effectively, and to train others.

Registration, Certification, or Licensure

May require certification from the Society of Actuaries or the Casualty Actuarial Society.


State Auditor’s Office

Reviewed 9-1-17