The Actuarial Analyst is responsible for (1) auditing and compiling data for analysis and ratemaking, (2) performing various analyses and ratemaking functions, and (3) the development and maintenance of data products and reports.
The Actuarial Analyst works independently or collaboratively with other members of the Actuarial Services team or other WCIRB research teams, generally under minimal supervision, and where work is regularly peer reviewed by other analysts or supervisors.
The Actuarial Analyst reports to the Associate Director, Actuarial Services and works closely with the Vice President, Actuary.
Essential Duties and Responsibilities:
Collects and compiles aggregate data for ratemaking and research, and performs thorough review of both aggregate and individual insured data for errors, anomalies, and changing trends.
Corresponds verbally, as well as in writing, with WCIRB members and other customers such as the insurance department and governmental agencies, on complex technical and data quality issues.
Interacts and communicates with representatives of other units of the WCIRB on various data-related and operational projects and issues.
Performs various studies of experience by classification.
Performs peer review of other analysts’ work.
Independently performs thorough actuarial analyses of aggregate data, applying judgment and discretion in the analyses, identifying trends and cost drivers, and communicating results and recommended actions to management, for the production of reports and presentations.
Develops new data products or services and engages in the fulfillment of data compilation and analysis requirements pursuant to statutory and regulatory mandates and other business requirements.
Performs thorough actuarial studies with minimal supervision and recommends enhancements to processes or methodologies to achieve greater accuracy or efficiency.
Responsible for producing actuarial analyses and projections in rate filings.
Provides training for other analysts in core procedures and projects.
Education, Experience, and Skill Qualifications:
Educational background (Bachelor’s degree or above) with a strong GPA in a technical field such as mathematics, actuarial science, applied statistics, or economics.
Minimum of two years’ demonstrated proficiency as an Associate Actuarial Analyst or equivalent actuarial position.
Completion of at least three Casualty Actuarial Society examinations.
Ability to communicate both effectively and professionally, both verbally and in writing.
Strong listening and interpersonal skills.
Proficiency in the following three areas: mathematics, applied statistics, or programming (in a language such as VBA, SQL, or R).
Proficiency in Microsoft Office Suite.
Able to work independently or with minimal supervision.
To perform this job successfully, the individual must be able to execute the tasks discussed in this job description. The requirements listed below are representative of the knowledge, skills and/or ability required. Reasonable accommodations, as required by ADA, may be made to enable individuals with disabilities to perform the essential functions.
The physical demands described in this section are to be representative of those that must be met by an employee to perform successfully the essential functions of this job. Reasonable accommodations, as required by ADA, may be made to enable individuals with disabilities to perform the essential functions.
Job requires both sitting at a workstation (90%) and moving about the office (10%).
Majority of time spent at a PC using keyboard and/or mouse.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Requires a cooperative and collaborative inclination.
Work requires attention to detail, follow-through and analysis of collected information.
Extended hours often required during rate filing season.
Management may assign or reassign duties and responsibilities to this position at any time. As such, the job description may be revised depending on the WCIRB’s needs. Further, this job description is a general summary of responsibilities and requirements and is not intended to be all-inclusive of the responsibilities and requirements of this position.
About WCIRB - Workers' Compensation Insurance Rating Bureau of California
The WCIRB is California's trusted, objective provider of actuarially-based information and research, advisory pure premium rates, and educational services integral to a healthy workers' compensation system.
To accurately measure the cost of providing workers' compensation benefits, the WCIRB performs a number of functions, including collection of premium and loss data on every workers' compensation insurance policy, examination of policy documents, inspections of insured businesses, and test audits of insurer payroll audits and claims classification.
The WCIRB is a California unincorporated, private, nonprofit association comprised of all companies licensed to transact workers' compensation insurance in California, and has over 400 member companies. No state money is used to fund its operations. The operations of the WCIRB are funded primarily by membership fees and assessments.
The WCIRB employs approximately 200 people, and the office is located in Oakland, California.