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State of Washington Class Specification

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ACTUARIAL ANALYST 1
503A
Category: Science & Engineering

Class Series Concept

Positions in this occupational category perform basic, complex and/or full range of actuarial calculations and analyses for property and casualty, life and disability, or health care insurance. These positions are also involved with analysis in rate making for classification rating, experience rating, retrospective rating and/or scheduled rating. Duties may also include actuarial analysis in estimating liabilities in losses, loss adjustment expenses, retrospective rating return premiums, and/or pensions.

Definition

Under close supervision performs basic actuarial calculations for property and casualty, life and disability, or health care insurance.

Typical Work

Performs basic actuarial calculations;

Creates exhibits and charts in rate-making, reserving, and management reporting;

Reviews and approves or disapproves insurers' rate and form filings;

Estimates current liabilities in losses and loss adjustment expenses;

Assists in rate-making for classification rating;

Assists in performance analysis of groups of insured.

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 in actuarial science, mathematics, statistics, engineering, physical science, economics, or equivalent field

And, for property and casualty, successful completion of one Casualty Actuarial Society (CAS) examination.

Or, for life and disability, and for health care, successful completion of one course of the Society of Actuaries (SOA).

Class Specification History

New class effective January 1, 2006; Actuarial Analyst 1 (replaces 05060 Actuarial Analyst 1).
Revised definition and deleted distinguishing characteristics adopted 11/8/2018, effective 11/7/2018; professionals.

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