Responsible for applying mathematical analyses and financial principles to amend insurance problems. Typically works in either property and casualty or life and health insurance. Uses probability and statistics to determine rates for retirement, accident, mortality, disability and other insurance rates. Calculates premiums, designs insurance plans, creates probability charts and may aid in the calculation of necessary funds to ensure future payments of benefits. Requires Fellow, Society of Actuaries (FSA) designation. Requires a bachelor's degree in area of specialty and at least 10-12 years of experience in the field or in a related area. Demonstrates expertise in a variety of the field's concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. May provide consultation on complex projects and is considered to be the top level contributor/specialist. A wide degree of creativity and latitude is expected. May report to an executive or a manager.