Assistant Actuarial Analyst Salary
An Assistant Actuarial Analyst earns an average salary of $64,078 per year.
Job Description for Assistant Actuarial Analyst
Assistant actuarial analysts are responsible for aiding actuarial analysts in their work. Actuarial analysts are professionals responsible for measuring risks for companies by assessing data, and assistants typically work alongside them performing the same duties. They are usually employed by insurance companies, financial services businesses, or any other organization that uses risk assessment as a measurement for what to charge their clients.Read More...
For example, insurance providers draft their policies based on the risk level of a catastrophic event. As such, they may contract actuaries and assistant actuarial analysts to assess the potential risk for property damage caused by natural disasters. In other cases, they may contact them to calculate the probability of personal injury or accidents. Actuarial analysts calculate these findings using statistical models. Much of their work is spent utilizing spreadsheets, databases, and statistical analysis computer programs. Assistants may spend more time performing the more clerical aspects of this work, and they may also help the actuary to recommend a set premium rate for a policy.
Assistant actuarial analysts work in an office setting during regular working hours. Their work involves occasionally interacting with other actuaries during the research stages and clients during the final stages. Largely, however, their job involves computer usage, non-physical work, and minimal interaction with others. Their job requires an extensive understanding of certain statistical programs, as well as programming languages. Assistant actuarial analysts are required to hold a minimum of a bachelor's degree in a related field, such as statistics, mathematics, or actuarial science.
Assistant Actuarial Analyst Tasks
- Assist in the analysis of risk evaluation data, using appropriate models and statistical methods,. Create relevant charts and graphs.
- Report and assist in interpreting results of acturarial data analysis.
- Review accuracy of data and calculations.