How To Become An Actuarial Manager: What It Is and Career Path

What is an actuarial manager and how to become one

Updated January 8, 2025

4 min read

An actuary is someone who handles the management of risk and uncertainty in sectors such as reinsurance, insurance, and pension. An actuarial manager is the one who manages a team of actuaries in a company and is primarily responsible for ensuring that all actuarial work is accomplished properly and on time.

The most important job of an actuarial manager is to ensure that all actuarial data is authentic and reliable. This is because each major decision of the company will use the actuarial data as a basis. Hence, an actuarial manager needs to be extremely detailed and be able to stay mentally focused for long periods of time. Apart from that, they should also be knowledgeable in computer programs that are necessary for the job, as well as be mathematically adept.

If you want to become an actuarial manager, you must first be a qualified actuary, which requires a bachelor's degree in mathematics, statistics, or actuarial science. Professional certification and further studies are also required to become a qualified actuary. Since an actuarial manager is a leadership position, getting at least two to three years of experience as an actuary will put you at an advantage.

Since the job of an actuarial manager is mission-critical, they are well compensated with around $67,000 a year in salary.

ScoreActuarial ManagerUS Average

Salary

5.9

Avg. Salary $75,827

Avg. Salary $59,228

Stability level

9.5

Growth rate 17%

Growth rate 0.3%

Diversity

3.2

Race

American Indian and Alaska Native 0.33%

Asian 7.85%

Black or African American 5.69%

Hispanic or Latino 10.17%

Unknown 4.03%

White 71.93%

Gender

female 34.78%

male 65.22%

Age - 46

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 46

Stress level

9.5

Stress level is very high

7.1 - high

Complexity level

9.3

Complexity level is advanced

7 - challenging

Work life balance

4.9

Work life balance is fair

6.4 - fair

Key steps to become an actuarial manager

Explore actuarial manager education requirements

Most common actuarial manager degrees

Bachelor's

63.0 %

Master's

34.8 %

Associate

2.2 %

Start to develop specific actuarial manager skills

Skills	Percentages
Medicaid	35.41%
Financial Analysis	13.42%
Financial Results	12.81%
Calculation	8.76%
Analytical Support	7.42%

Complete relevant actuarial manager training and internships

Accountants spend an average of 1-3 months on post-employment, on-the-job training. New actuarial managers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as an actuarial manager based on U.S. Bureau of Labor Statistics data and data from real actuarial manager resumes.

Research actuarial manager duties and responsibilities

Specialize in data collection logistics and documentation on specific vehicles and manage inventory using CRM applications.
Programme in SAS on large databases.
Design LTC & FIA Stat/Tax/ GAAP valuation software.
Prepare client household employment payroll.

Apply for actuarial manager jobs

Now it's time to start searching for an actuarial manager job. Consider the tips below for a successful job search:

Browse job boards for relevant postings
Consult your professional network
Reach out to companies you're interested in working for directly
Watch out for job scams