WCIRB | Actuarial Research Analyst – Hybrid position | Oakland, CA | United States | BigDataKB.com | 2023-01-15

Actuarial Research Analyst
This position may be filled at the Senior Actuarial Research Analyst level depending on candidate’s experience and number of CAS exams passed.

Summary
At the WCIRB, the Actuarial Research Analyst is part of an innovative team that applies new methodologies and data to answer traditional actuarial questions. We bring curiosity to our work, plan time for exploration into each project, and expect everyone involved to suggest new approaches to our research questions. At the same time, we promote a healthy work/life balance that includes a hybrid work schedule and the availability of a compressed work week.

We work on a range of workers’ compensation topics including research into the optimal form of our innovative experience rating plan (Experience Rating Plan (wcirb.com)) and deeper dives into drivers of workers’ compensation costs as in our annual Geo Study (WCIRB Geo Study | WCIRB California).

The Actuarial Research Analyst works both independently and as part of a team on projects. Responsibilities include (1) preparing complex data sets, including extraction from internal systems and acquisition from external sources and merging data; (2) auditing data for analysis, including both basic accuracy and reasonableness; (3) providing statistical programming expertise in R to access, analyze and report analysis results and (4) performing various actuarial and research analyses under moderate supervision. The Analyst works with both proprietary WCIRB datasets and external datasets to enhance analysis.
For example, to prepare the annual Geo Study, the Actuarial Research Analyst uses R and SQL to create a new database combining both internal and external datasets based on existing procedures. The Analyst checks the database for accuracy and reasonableness and makes updates to both the database and scripts as needed. The Analyst updates the existing tables and explores the data based on current issues in workers’ compensation, such as how COVID-19 claims differ from non-COVID-19 claims. The Analyst makes recommendations to the broader team for new metrics to investigate at a regional level and writes the code for the additional exhibits. The Analyst creates the updated maps for the report using R packages such as ggplot2. Finally, the Analyst collaborates with other team members to write the updated text for the report and to review the report prior to publication.

Essential Duties and Responsibilities

• Prepares complex data sets for research projects. Acquires data from internal and external sources for analysis in spreadsheets or statistical software. Audits data for accuracy and reasonableness.
• Conducts preliminary analysis of data, analysis of variance, and regression diagnostics with minimal or no supervision. Builds on this with more complex analyses, such as multivariate or logistic regressions, that may involve special treatments, such as transformation of variables or principal components extraction, for problems such as heteroscedasticity or multicollinearity under moderate guidance or supervision.
• Under guidance or supervision, performs actuarial and statistical analyses and research using statistical, mathematical, actuarial or other specialized software. Applies judgment and discretion in the analyses, in the development of findings and their communication.
• Provides technical and peer review of other analysts’ work
• Independently learns to operate new software to conduct assigned analyses.
• Develops and maintains automation of regular analysis datasets, such as the LTLDS, the wage cube, and economic datasets.
• Interacts and communicates with representatives of other units of the WCIRB on various analytics-related and operational projects and issues.

Education, Experience, and Skill Qualifications

• Bachelor of Science degree, preferably in mathematics, statistics, actuarial science, data science or a related field.
• Minimum of two years’ demonstrated proficiency as an Associate Actuarial Research Analyst or equivalent actuarial position or coursework including a minimum of two years of SQL, R or Python programming experience and experience in working with relational databases, large data sets and multiple data sources (Four years for a senior level position)
• Completion of at least two Casualty Actuarial Society examinations (five CAS exams for senior level position).
• Proficiency in at least two of the following three areas: applied statistics, economics, and finance (beyond a college sophomore level), or programming (in a language such as R, Python or C++). Proficiency may be demonstrated by passage of the appropriate Casualty Actuarial Society examinations, college credit or satisfactory demonstration to the Vice President, Actuarial Research.
• Strong proficiency in MS Excel, R, and SQL preferred. Ability to learn statistical packages demonstrated through proficiency in another package such as Stata or Python may qualify.
• Ability to clearly communicate findings, issues, and recommendations to co-workers. Must be able to communicate both verbally and in writing in a professional manner.
• Ability to work collaboratively on projects and to work independently or with minimal supervision.

Qualifications
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.

Physical Demands
The physical demands described in this section are to be representative of those that must be met by an employee to successfully perform 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.

Work Environment
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.

• Sometimes highly paced, high stress environment.
• Job requires performing multiple tasks concurrently.
• Requires a cooperative and collaborative inclination.
• Work requires attention to detail, follow-through, and analysis of collected information.
• Extended hours may be required during major project deadlines.
• Option for compressed work week available.

The Actuarial Research Analyst will reside in the State of California and actively participate in the hybrid working structure of the WCIRB with an expectation of being in-office at least 40% of the time or more, based on business requirements.

Perks & Benefits

Our employees enjoy a state of the art, energy-efficient, open work environment that nurtures collaboration and creativity. At the WCIRB, we go the extra mile to keep our employees happy and healthy. Our perks include:

• Hybrid work environment
• Allocations for continuous learning & development
• Allowance for wellness & fitness programs
• Medical, dental and vision benefits
• 401K and pension plan
• Annual incentive plan
• Social activities
• Employee discounts on activities and events
• Community volunteer involvement

Please note that the WCIRB has enacted a mandatory COVID-19 vaccine requirement for all employees. Proof of full vaccination or an approved exemption or deferral is required of all employees, including new hires.

Salary range: Actuarial Research Analyst $85,840 – 125,370; Senior Actuarial Research Analyst $106,030 – 158,980

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