Casualty Actuary Series
California State Personnel Board Specification
Series established February 3, 1982
Scope
This series specification describes three levels of classes used by the Department of Insurance to perform as wide variety of consultative and analytical assignments associated with the actuarial aspects of the regulation and examination of insurers conducting the business of casualty, indemnity and liability insurance. Incumbents conduct and/or review actuarial studies and statistical surveys; formulate procedures, policies and program alternatives; review and analyze proposed legislation and advise management on the impact or potential impact of this legislation; and participates or act as team, conference, or task force leaders on larger studies and survey.
Definition of Series
Classes in this series are involved in the analysis and review of statements, reports and valuations based on actuarial and statistical data; the verification of the accuracy and adequacy of premiums and reserves including, but not limited to those applicable for benefits for automobile insurance, fire insurance, medical malpractice liability, ocean and marine insurance, product liability, theft insurance, title insurance, worker's compensation, and all other forms of casualty, indemnity and liability insurance; and the review and substantial determination of the equity and dividend and experience refund distribution systems.
Factors Affecting Position Allocation
The scope and level of responsibilities assigned, complexity of work, independence and consequence of action, impact of decision making on affected programs, and the degree of supervision exercised and received serve as differentiating factors between individual levels.
Definition of Levels
Associate Casualty Actuary
This is the journey level. Incumbents perform the more responsible and complex technical actuarial work and provide consultative services to management and others. Such duties include participating as an actuarial consultation in the conduct of financial examinations of insurers.
Senior Casualty Actuary
This is the full professional level. Incumbents work independently on the most complex actuarial analysis projects, draft guidelines for the conduct of the actuarial aspects of financial examinations of insurers and provide statements of actuarial opinion for specific certification of insurers' solvency in the future.
Supervising Casualty Actuary
This is the full supervisory level. Incumbents supervise actuarial statisticians and casualty actuaries and act as consultants of the most complex and sensitive program issues.
Minimum Qualifications
Associate Casualty Actuary
Either I
One year of experience in the California state service performing the duties of a Supervising Actuarial Statistician; or
Two years of experience in the California state service performing the duties of a Senior Actuarial Statistician.
Or II
Experience: Three years of experience in either (1) a responsible actuarial position in a casualty insurance company, or (2) a responsible position as a consulting actuary involving indemnity, casualty or liability forms of insurance, or (3) a comparable actuarial position in another governmental agency. (Experience in California state service applied toward this requirement must be at the level of responsibility provided in the promotional pattern.) and
Education: Equivalent to graduation from college, preferably with a specialization in mathematics, insurance or accounting. (Additional qualifying experience may be substituted for the required education on a year-for-year basis.)
Senior Casualty Actuary
Either I
One year of experience in the California state service performing the duties of an Associate Casualty Actuary.
Or II
Experience: Four years of experience in either: (1) a responsible actuarial position in a casualty insurance company; (2) a responsible position as a consulting actuary involving casualty, indemnity, or liability forms of insurance, or (3) a comparable actuarial position in another governmental agency. (Experience in the California state service applied toward this requirement must be at the level of responsibility provided in the promotional pattern.) and
Education: Equivalent to graduation from college preferably with a specialization in mathematics, insurance or accounting. (Additional qualifying experience may be substituted for the required education on a year-for-year basis.)
Supervising Casualty Actuary
Either I
One year of experience in the California state service performing the duties of a Senior Casualty Actuary; or
Two years of experience in the California state service performing the duties of an Associate Casualty Actuary.
Or II
Experience: Five years experience in either: (1) a responsible actuarial position in a Casualty insurance Company; (2) a responsible position as a consulting actuary in casualty, indemnity or liability forms of insurance, or (3) a comparable actuarial position in another governmental agency. (Experience in the California state service applied toward this requirement must be at the level of responsibility provided in the promotional pattern.)
Knowledge and Abilities
All Levels:
Knowledge of: Insurance principles and actuarial science, particularly with respect to casualty, indemnity and liability forms of insurance; and the financial structure of various types of insurance companies such as automobile, fire, medical malpractice, ocean and marine, product liability, theft, title and worker's compensation companies.
Ability to: Make complex and extensive actuarial and statistical computations; appraise accurately from actuarial and statistical data the financial structure of casualty insurance companies examined; prepare difficult actuarial and statistical reports and correspondence; analyze situations accurately and adopt an effective course of action.
Supervising Casualty Actuary
Knowledge of: All of the above, plus principles of personnel management and supervision; the department's Affirmative Action Program objectives; a manager's role in the Affirmative Action Program and the processes available to meet affirmative action.
Ability to: All of the above, plus plan, organize, and direct the work of others; evaluate employee performance; contribute effectively to the department's affirmative action objectives.
Additional Desirable Qualifications
Associate Casualty Actuary
Possession of an Associateship in the Casualty Actuarial Society.
Senior Casualty Actuary
Member of the American Academy of Actuaries and possession of a fellowship in the Casualty Actuarial Society.
Supervising Casualty Actuary
Member of the American Academy of Actuaries and possession of a fellowship in the Casualty Actuarial Society.
Class History
