Actuary I
Also referred to as: Actuary I, Entry Level Actuary
Requirements and Responsibilities
Utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Assists with product design and development by analyzing risk groups and calculating appropriate insurance rates, premium levels, and rating systems and structures. Records and tracks accruals, claims, and settlements and prepares documents for input into regulatory filings, financial budgets, forecasts, and other financial projections. 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. Must be currently pursuing the designation of ASA (Associate) in the Society of Actuaries. Typically reports to a manager. Work is closely managed. Works on projects/matters of limited complexity in a support role. Typically requires 0-2 years of related experience.
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Level of Education:  Actuary I Salaries with an Associate's Degree, Actuary I Salaries with a Bachelor's Degree, Actuary I Salaries with a Master's Degree or MBA, Actuary I Salaries with a JD, MD, PhD or Equivalent
Industries:  Aerospace & Defense, Biotechnology, Business Services, Chemicals, Construction, Edu., Gov't. & Nonprofit, Energy & Utilities, Financial Services, Healthcare, Hospitality & Leisure, Insurance, Internet, Media, MFG Durable, MFG Nondurable, Pharmaceuticals, Retail & Wholesale, Software & Networking, Telecom, Transportation