It was required at my first job in 1989, for entry level actuaries.
In fairness, part of job performance was passing the actuarial exams, the first two of which were calculus and statistics. I imagine testing well on the SATs for a math or EE degree (what they hired) was a good indicator of passing tests.
I didn't take the SATs in the 80s but in 00s I don't remember any of the concepts translating well to understanding calculus or statistics and I scored well enough it gave me a free ride to college (well that was the PSAT but it was in line with my SAT score). If they wanted to test that they should have tailored an exam similar to my college when assessing my math capability.
In fairness, part of job performance was passing the actuarial exams, the first two of which were calculus and statistics. I imagine testing well on the SATs for a math or EE degree (what they hired) was a good indicator of passing tests.