What does actuarial officer does?

Question

What does actuarial officer does?

Answer 1

You mean, what does an actuarial officer do? Right?

Answer 2

An actuary does the number-crunching for an insurance company to determine what rates the company should charge, to calculate the effects of any changes, and to determine how much the company should set aside for reserves for future losses. The position requires extensive skill and education in math. Actuaries go through a series of exams by their professional association (Society of Actuaries or Casualty Actuarial Society) to ensure that they have the knowledge, skill, and education to do the job properly.

An actuarial officer is an actuary who is a member of the senior management of the company. Usually the actuarial officer must have completed the exams and must have several years of work experience, because the company is relying on the officer.