An entry-level actuary is responsible for performing complex calculations to support insurance ventures on behalf of the company and developing financial modeling techniques that support the assumptions. Typical duties for an entry-level actuary position include validating pricing assumptions; calculating rates participating in preparing profit and loss results; participating in projection of underwriting losses; participating in pricing, deciding rates, and submitting proposals; studying and reporting actuarial trends and rating considerations; using established tools and procedures to gather and process actuarial data; quantifying available data as directed; utilizing computer systems and sources in doing so; keeping and updating actuarial databases and files; keeping updated on compliance with insurance regulations and federal regulations; reviewing and testing data for preciseness and accuracy; and evaluating actuarial data of the entire actuarial industry. An entry-level actuary typically reports to the actuarial manager.
An entry-level actuary should have a bachelor\'s degree in insurance or actuarial science. Strong background in actuarial science gained through training or research project may prove beneficial for entry-level actuary positions.