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State of Washington Class Specification

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ACTUARY 4
504D
Category: Science & Engineering

Definition

Positions in this level manage the department's actuarial unit, supervising and directing actuarial staff. Functions as the department Senior Level Actuary responsible for all of the department's actuarial insurance functions. Positions present analytical findings to the Governor, employers, legislators, labor organizations, and other stakeholder groups. Defends findings through Public Hearings process including Court Proceedings and Legislative Hearings.

Typical Work

Resolves complex actuarial problems;

Testifies before legislative hearings, public rate hearings and other court proceedings;

Manages the financial statements on projection of agency's assets which includes expenditure claims, liabilities, industrial insurance premiums, collectibles and uncollectibles, trust fund and reserve components comprised of medical aid, accident, pension and supplemental pensions;

Develops data requirements for tracking agency's revenues and expenditures; develops methodologies to test quality of data;

Evaluates actuarial impact of proposes legislation;

Manages and directs the department's retrospective rating plans and other premium discount plans;

Directs staff in calculation of dividends and reserves;

Manages other actuarial studies as required;

May supervise lower level staff.

Legal Requirement(s)

There may be instances where individual positions must have additional licenses or certification. It is the employer’s responsibility to ensure the appropriate licenses/certifications are obtained for each position.

Desirable Qualifications

Positions typically require a Bachelor's degree and membership in the American Academy of Actuaries.

And, fellow (FCAS) of the Casualty Actuarial Society (CAS) with ten years of property and/or casualty actuarial experience

Or, fellow (FSA) of the Society of Actuaries with ten years of life, disability, and/or health actuarial experience

Class Specification History

New class effective January 1, 2006; Actuary 4 (replaces 05050 Actuary Senior).

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