ABOLISHED 06/19/2014 PER PAY LETTER 14-09 - Actuary
California State Personnel Board Specification
Schematic Code: LP20
Class Code: 5409
Established: 11/05/1938
Revised: 04/17/1984
Title Changed: --
Definition
Under direction to do the actuarial work involved in the examination of insurance companies; and to do other related work.
Typical Tasks
Analyzes and reviews statements, reports, and valuations based on actuarial and statistical data; makes actuarial valuations and verifies the accuracy and adequacy of premiums, rates, reserves or other relevant factors; acts as a consultant to nonactuarial personnel; prepares memoranda of proposed actions and recommendations and discusses the more complicated cases with the Chief Actuary, if applicable.
Minimum Qualifications
Experience: Three years of experience in a responsible actuarial position in a life or casualty insurance company, in consulting actuarial practice, or in a comparable actuarial position in a governmental agency. and Education: Either
1. Equivalent to graduation from college preferably with specialization in mathematics, insurance and accounting. (Additional qualifying experience may be substituted for the required education on a year-for-year basis.) or
2. Possession of an associateship or fellowship in the Society of Actuaries or the Casualty Actuarial Society; or
3. Membership in the American Academy of Actuaries.
Knowledge and Abilities
Knowledge of: Insurance principles and actuarial science; financial structure of various types of insurance companies.
Ability to: Make complex and extensive actuarial and statistical computations; appraise accurately from actuarial and statistical data the financial structure of insurance companies examined; prepare difficult and technical actuarial and statistical reports and correspondence; analyze situations accurately, and adopt an effective course of action.
