Actuarial Analyst

BriefYour role

Also known as Actuarial adviser · Actuarial advisor · Actuarial advisors · Actuarial aide

and 8 more

Actuarial analyst assistant · Actuarial analysts · Actuarial assistant-life product development · Actuarial clerk · Actuarial clerks · Actuarial mathematician · Actuarial mathematicians · Actuaries

L3 salary: Not published yetSalary figures open with the salaries section.
Upcoming dated changes: 3 changes aheadNext: 1 Jan 2027
Where the changes come from
Each change in the Regulatory calendar comes from an official text, linked on its page.
A change affects this role directly when it names a process that is one of the role's main tasks.
Top critical skills: Applied statistical modelling for pricing and risk (GLM, survival)
Insurance pricing, reserving and product economics
Descriptive statistics and distributions

See all levels

What the role does

Actuarial Analyst is a role in Insurance. The family covers underwriting, claims, actuarial, broking, sales and insurance operations. The core skill is applied statistical modelling for pricing and risk (GLM, survival), and the main work is insurance underwriting, claims and policy and model development and validation.

This is a brief profile written from the catalogue. A full profile with a day in the life, level descriptions and the effect of AI is being written.

Levels

L1 Starting out 0-2 years
L2 Independent 2-5 years
L3 Senior or specialist 5-9 years
L4 Leads a team or an area 8-14 years
L5 Leads the function 12+ years

Full level descriptions and job titles

The EFO level names are the common scale; job titles differ between employers.

Levels of Actuarial Analyst
Level	What the work looks like	Typical years	Typical job titles
L1 Starting out	Learns the job; executes defined tasks with supervision	0-2	Banks: Analyst, Junior Analyst, Associate (asset servicing), Trainee, GraduateAsset servicers: Junior, Specialist (entry), Officer
L2 Independent	Owns a process end to end; trains L1; first contact for the team's clients	2-5	Banks: Analyst / Senior Analyst, AssociateAsset servicers: Specialist, Senior Specialist, Senior Officer
L3 Senior or specialist	Deep expertise; handles exceptions and change; represents the function in projects	5-9	Banks: Senior Associate, AVP, Assistant ManagerAsset servicers: Senior Specialist, Expert, Team Lead (small team)
L4 Leads a team or an area	Manages people or a large process; owns budgets or controls; escalation point	8-14	Banks: VP, Manager, Senior ManagerAsset servicers: Team Lead, Manager, Head of Section
L5 Leads the function	Accountable for the function in a legal entity or region; sets priorities and standards	12+	Banks: Director, Executive Director, Managing Director, Head of functionAsset servicers: Head of Department, Director

Skills

The percentage is the skill's share of the role; the bars are drawn relative to the anchor skill, which is shown full.

Critical 5

The job cannot be done without these.

Applied statistical modelling for pricing and risk (GLM, survival)Weight 12.7%Anchor skillExpected level: practitionerRelevant to you
Insurance pricing, reserving and product economicsWeight 8.5%Expected level: practitionerRelevant to you
Descriptive statistics and distributionsWeight 8.5%Expected level: practitionerRelevant to you
Insurance regulation (Solvency II, IDD, NAIC, IRDAI)Weight 8.5%Expected level: practitionerRelevant to you
Statistical software (SAS, R)Weight 8.5%Expected level: practitionerRelevant to you

Important and supporting skills 18

Important 9

Needed in most positions.

Forecasting methods and time seriesWeight 4.3%Expected level: practitionerRelevant to you
Advanced Microsoft ExcelWeight 4.3%Expected level: practitionerRelevant to you
Python for data analysisWeight 4.3%Expected level: practitionerRelevant to you
Querying data with SQLWeight 4.3%Expected level: practitionerRelevant to you
Attention to detailWeight 4.3%Expected level: practitionerRelevant to you
Professional written communicationWeight 4.3%Expected level: practitionerRelevant to you
Asset-liability management and rate riskWeight 4.3%Expected level: practitionerRelevant to you
Assessing the quality of sourcesWeight 4.3%Expected level: practitionerRelevant to you
Insurance accounting (IFRS 17, technical provisions)Weight 4.3%Expected level: practitionerRelevant to you

Supporting 6

Help in many positions.

Hypothesis testing and significanceWeight 2.1%Expected level: working knowledgeRelevant to you
Financial statement analysis and ratiosWeight 2.1%Expected level: working knowledgeRelevant to you
Derivatives and how they workWeight 2.1%Expected level: working knowledgeRelevant to you
Working to tight deadlinesWeight 2.1%Expected level: working knowledgeRelevant to you
Risk judgment and escalation instinctWeight 2.1%Expected level: working knowledgeRelevant to you
Data cleaning and validationWeight 2.1%Expected level: working knowledgeRelevant to you

Useful 3

Occasionally useful.

Visualisation tools (Power BI, Tableau)Weight 0.7%Expected level: working knowledgeRelevant to you
Stakeholder managementWeight 0.7%Expected level: working knowledgeRelevant to you
Financial markets knowledgeWeight 0.7%Expected level: working knowledgeRelevant to you

Processes

The work the role takes part in.

What each process covers

Insurance underwriting, claims and policyMainPricing, underwriting, claims and policy administration.
Model development and validationMainBuilding and independently checking risk and pricing models.
Financial reporting and accountingSupportingClosing the books and producing financial statements under IFRS or local rules.
Liquidity and balance sheet managementSupportingManaging liquidity buffers, funding and interest rate risk on the balance sheet.

Dated changes for this role

1 Jan 2027FINMA circular on nature-related financial risks phases inRelevant to you
30 Jan 2027Revised Solvency II rules apply from January 2027Relevant to you
2 Dec 2027AI Act: high-risk rules for credit scoring postponed to December 2027Relevant to you

Worth knowing

Changes that touch a process this role takes part in as a secondary task.

1 Nov 2026Swiss SIC participants must receive instant payments
31 Dec 2026Digital euro regulation in final negotiations
1 Jan 2027Swiss capital and liquidity ordinance changes from January 2027
1 Jan 2027CSRD scope narrowed by Omnibus I; second wave reports from financial year 2027
1 Jan 2027UK simplified capital regime for small domestic deposit takers

See all 11 in the Regulatory calendar

Salary snapshot

Salary figures are not published yet

The L3 salary range for this role, with its sources, will appear here when the salaries section opens.

Certifications

IFoA Actuarial exams (CS/CM) IFoA
CFA Program Level I CFA Institute

Concepts to know

Neighbouring roles

Roles that need many of the same skills, by weighted skill overlap, with the skills you would need to add.

P&C Actuarial Analyst (Pricing & Reserving)

85% skill overlap

Your role

Life & Pensions Actuarial Analyst

77% skill overlap

To add: Life and pensions actuarial mathematics, Pension scheme administration and benefits calculation

Your role

Underwriting Analyst

60% skill overlap

To add: Credit analysis and creditworthiness, Reading client needs and dynamics, Insurance claims handling and adjusting

Your role

Reinsurance Analyst

48% skill overlap

To add: Reinsurance fundamentals, Credit analysis and creditworthiness, Reading client needs and dynamics

Your role

Credit Risk Model Developer

46% skill overlap

To add: Credit risk models (IFRS 9, IRB), Credit analysis and creditworthiness, Basel framework and capital

Your role

Market Risk Analyst

41% skill overlap

To add: Risk measures and sensitivities, Basel framework and capital, Model validation and governance

Your role

Do this job? Suggest a correction

Sources

The EFO role catalogue, with skills, levels and processes. How it is built
ESCO classification of the European Commission (external site) for job titles