Actuarial Analyst

When to Use

Build or refresh loss development triangles and support IBNR / ultimate loss estimates
Prepare pricing support: experience summaries, trend, credibility-weighted indications
Validate, reconcile, and document actuarial data feeds and model inputs/outputs
Produce reporting packs: exhibits, bridges, roll-forwards, and memo-ready tables
Tie statutory or management reporting schedules to actuarial workpapers
Apply approved assumptions in models under actuary direction (not set enterprise policy)
Run reasonability checks and peer-review prep before actuary sign-off
Support pension or group benefit valuation data prep and schedule tie-outs (analyst depth)

When NOT to Use

Appointed actuary opinions, statement of actuarial opinion, or final sign-off →
```
actuary
```
Engagement scoping, SOW, client decks, M&A consulting framing →
```
actuarial-consulting
```
Enterprise assumption governance, assumption papers, and change control →
```
assumption-setting
```
ALM strategy, duration matching, and investment policy →
```
asset-liability-management
```
P&C coverage legal wording, claims handling, or underwriting authority →
```
property-casualty-insurance
```
Life/health product design and reserving sign-off →
```
life-health-insurance
```
(line context); technical judgment →
```
actuary
```
Pension plan design, funding policy, or trustee advice →
```
pension-retirement-funds
```
(strategy); analyst prep stays here
Chart design, dashboards, and visualization craft only →
```
data-visualization
```
Source-system ETL, deduplication pipelines without actuarial judgment →
```
data-scrubbing
```
Capital markets quant research and backtesting →
```
quantitative-researcher
```

Related skills

Need	Skill
Actuarial judgment, sign-off, capital overview, governance memos	`actuary`
Consulting engagement, SOW, client communication, DD framing	`actuarial-consulting`
Assumption governance, papers, and enterprise change control	`assumption-setting`
ALM, duration, and asset–liability strategy	`asset-liability-management`
P&C products, claims, and underwriting context	`property-casualty-insurance`
Life/health benefits and product mechanics	`life-health-insurance`
Pension funding policy and plan design (overview)	`pension-retirement-funds`
Data cleaning pipelines and source normalization	`data-scrubbing`
Charts, dashboards, and visual design	`data-visualization`
Statistical/ML modeling beyond standard actuarial methods	`quantitative-researcher`

Core Workflows

1. Task intake and scope (analyst)

Before opening triangles or models:

Assignment type — Reserving, pricing support, reporting tie-out, model run, data prep
Basis — Statutory, GAAP, IFRS 17, management; valuation date and cutoff
LOB and segment — Direct vs assumed; reinsurance netting rules
Deliverable — Exhibit list, workpaper IDs, deadline, reviewer (actuary name if known)
Source of truth — Prior memo, approved assumptions version, model build ID
Out of scope — Flag sign-off, legal interpretation, or assumption changes needing
```
actuary
```
/
```
assumption-setting
```

See
references/actuarial_analyst_scope.md
.

2. Reserving and loss development

Pull paid, incurred, case, and count triangles by origin and development age
Run diagnostics (factor stability, calendar-year check, paid/incurred divergence)
Apply selected methods (chain ladder, BF, Cape Cod) per actuary instruction—document picks and alternatives
Build IBNR and ultimate tables; reconcile to prior evaluation
Prepare PYD bridge and reserve roll-forward exhibits
Escalate tail, cat, or large-loss treatment questions to actuary

See
references/reserving_and_loss_development.md
.

3. Pricing and rate indication support

Aggregate experience by segment (exposure, frequency, severity, pure premium)
Compute trend and on-level adjustments per documented methodology
Apply credibility weights as specified; show gross vs credibility-weighted indications
Summarize indicated rate change vs current; tie to loss ratio targets if provided
Document data cuts, outliers, and one-time events in a support schedule
Outline GLM or multivariate specs for actuary or modeler—do not present as final model without review

See
references/pricing_and_rate_indication.md
.

4. Data validation and model I/O

Reconcile premium, exposure, and claim feeds to control totals
Validate triangle dimensions, accident/valuation dates, and duplicate keys
Compare model inputs to source exhibits; log exceptions with $ impact where possible
Review model outputs for reasonability vs prior run and plan metrics
Archive run logs, parameter files, and data cut manifests for audit trail
Route assumption changes to actuary; do not alter approved assumption tables without approval

See
references/data_validation_and_model_io.md
.

5. Reporting and workpapers

Build exhibit index aligned to filing or management pack structure
Produce bridges (reserve change, premium earned, claim counts) with footnoted definitions
Tie external schedules (statutory blanks, management reports) to internal workpapers
Draft memo support tables (facts and exhibits)—not full executive narrative unless asked
Version files:
```
YYYYMMDD_basis_LOB_vNN
```
with change log tab or README row

See
references/reporting_and_workpapers.md
.

6. Quality review and documentation

Complete analyst checklist before actuary review (below)
Ensure formulas trace and no hard-coded plugs without comment
Cross-foot subtotals and tie to GL or bordereaux where required
List open items with owner and target date
Package review folder: inputs, outputs, diagnostics, reconciliation, change log

See
references/quality_review_and_documentation.md
.

Analyst checklist (before actuary review)

Analyst QA:
- [ ] Valuation date, basis, and segment definitions match memo / prior period
- [ ] Triangles tie to source data; paid + case = incurred (where applicable)
- [ ] Development factors documented with $ impact of alternative picks (if material)
- [ ] Reserve roll-forward reconciles opening + movement = closing
- [ ] Pricing experience A/E and exposure bases foot to bordereaux
- [ ] Credibility and trend applied per approved assumption memo
- [ ] Model run ID and assumption version recorded
- [ ] Exhibits numbered; cross-references in memo outline updated
- [ ] Open questions listed for actuary (not buried in cells)

Key metrics (analyst must define each time)

Metric	Analyst responsibility
Earned premium	Match earning pattern to loss basis in exhibit footnote
Loss ratio	State numerator (incurred vs paid) and denominator
Development factor	Age-to-age vs cumulative; calendar vs accident year
IBNR	Definition (incurred vs paid basis); split case/IBNR if required
Pure premium	Exposure unit documented (car-year, member month, payroll)
Indicated change	Gross vs credibility-weighted; constraint notes from underwriting
PYD	Bridge to prior quarter/year with volume vs rate vs development split

Tool patterns (agnostic)

Task	Typical approach
Triangles and factors	Spreadsheet triangles; SQL/R aggregation; actuarial reserving tools
Reconciliation	VLOOKUP/XLOOKUP keys; SQL joins; Python pandas groupbys
Version control	Dated folders; change log sheet; avoid "final_final" without version ID
Model runs	Parameter export; diff prior vs current outputs; checksum on input files
Documentation	Exhibit index; definition tab; color only for review flags, not logic

Prefer reproducible steps actuaries can re-run; avoid opaque manual cell edits without audit trail.

Line-of-business notes (analyst)

LOB	Analyst focus
P&C	Class/territory splits; cat and large-loss flags; long-tail tail factors
Life	In-force census reconciliations; experience study tables—not product filing
Health	Seasonality in monthly data; benefit change flags in A/E
Reinsurance	Ceded vs net triangles; treaty mapping; clash aggregates if instructed
Pension	Census and liability roll-forward data; tie to actuary valuation file

Deliverable standards (analyst)

Deliverable	Minimum content
Triangle workbook	Data tab, triangle, factors, ultimates, diagnostics, reconciliation
IBNR support	Method, selections, ultimates, PYD bridge, open questions
Pricing support	Segments, experience, trend, credibility, indicated change table
Model run pack	Inputs manifest, parameters, outputs, reasonability vs prior
Reporting tie-out	Schedule line ↔ workpaper cell map; unexplained differences listed
Review package	QA checklist, change log, exhibit index

State limitations (data gaps, one-time events, immature years). Do not present analyst work as opinion, legal advice, or filed regulatory submission without qualified actuary and counsel review.

Assignment type matrix

Trigger phrase	Primary workflow	Lead reference
triangle analysis / loss development	Reserving support	`reserving_and_loss_development.md`
IBNR / reserve analysis / reserve roll-forward	Ultimates and bridges	`reserving_and_loss_development.md`
rate indication / pricing support	Experience and indication	`pricing_and_rate_indication.md`
experience study (tables)	A/E prep; assumption change → actuary	`pricing_and_rate_indication.md`
actuarial workpaper / actuarial reporting	Exhibits and tie-outs	`reporting_and_workpapers.md`
model run / model output review	I/O validation	`data_validation_and_model_io.md`
credibility (application)	Weighting per memo	`pricing_and_rate_indication.md`

When tasks span reserving and pricing on the same block, separate workpapers and flag independence concerns to the actuary.

Ethics and reliance (analyst)

Label work as draft or analyst support until actuary review
Cite data limitations, restatements, and one-time events in open items
Do not change approved assumptions locally—request update through actuary and
```
assumption-setting
```
Distinguish technical indication from implemented rate or posted reserve
Refer legal or filing questions to counsel; refer sign-off to
```
actuary
```

When to load references

Scope, boundaries, ethics →
```
references/actuarial_analyst_scope.md
```

Reserving and triangles →

references/reserving_and_loss_development.md

Pricing and indication →

references/pricing_and_rate_indication.md

Data and model I/O →

references/data_validation_and_model_io.md

Reporting and workpapers →
```
references/reporting_and_workpapers.md
```

QA and documentation →

references/quality_review_and_documentation.md

actuarial-analyst

NPX Install

Tags

SKILL.md Content