An actuarial analyst is responsible for analyzing company data to ensure financial stability of a company. He/she should be able to analyze data for rate and reserve adequacy, develop various actuarial and statistical models, examine irregularities in data, develop pricing, perform competitive analysis and assist in the analysis of corporate loss reserves.
A successful candidate for the job must have a Bachelor’s Degree in math, statistics, finance, actuarial science, economics, business, accounting or other quantitative fields. An actuarial analyst must be certified by the Casualty Actuarial Society or the Society of Actuaries. Some employers require the candidates to pass several actuarial exams, such as FSA and ASA.
Strong background in statistics and math; computer skills related to statistical analysis, database and spreadsheet programs as well as programming languages such as SQL and Visual Basic; excellent communication skills (both written and oral) for tasks that require preparing and presenting reports.
Specific work elements
Performing financial forecasting and trend analysis, developing rate formula valuations, preparing regulatory reporting requirements, oversee the collection of statistical data and handling other duties required from the actuarial department.