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Connecticut Department of Administrative Services · 1 day ago

Insurance Actuary

Hartford, CT

Full-time

Hybrid

Senior Level, Lead/Staff

$125K/yr - $170K/yr

8+ years exp

The Connecticut Department of Administrative Services is seeking an Insurance Actuary to join their Actuarial Insurance Division. The role involves conducting analytical studies of insurance and health care center rate filings, reviewing rating plans, and providing consulting services regarding rate changes.

GovernmentService IndustrySocial Assistance

Responsibilities

Conducts analytical studies of insurance and health care center rate filings, rating plans and various special programs (such as experience rating, retrospective rating, and participating programs) and recommends action

Conducts and reviews periodical examinations of rating organizations

Reviews rates, rating plans, and self-insurance program

Provides consulting service with respect to the approval or disapproval of requests made by insurance companies and rating organizations for changes in rates and rating plans

Initiates recommendations with respect to improvements in rating plans and techniques

Participates in Department hearings in connection with appeals of insureds regarding classifications and other rating matters

Reviews insurance and health care reserves including cash flow testing of liabilities and asset adequacy testing

Reviews reinsurance agreements

Supervises the handling of complaints and inquiries concerning rates and related matters from the public, insurance companies, agents, brokers and rating organizations

Serves as advisor on actuarial and related matters

Prepares accurate and comprehensive reports containing findings, conclusions and recommendations

Participates in committees

May participate in technical and professional conferences

May review an insurer’s loss experience

Performs related duties as required

Qualification

Health reserving techniquesActuarial standards of practiceStatistical methodsInsurance rate settingInsurance company regulationsActuarial designationsSupervisory abilityOffice environment familiarityInterpersonal skillsOral communicationWritten communicationProject management

Required

Eight (8) years of experience as an actuary with an insurance company, an insurance regulatory agency, or in a consulting actuary's office performing actuarial insurance work

One (1) years of the General Experience must have included experience setting insurance rates and/or reserves for insurance companies or health care centers

An Associate membership, by examination, in a relevant actuarial society. For Property and Casualty, membership in the Casualty Actuarial Society is required. For Life and Health area, membership in the Society of Actuaries is required

Considerable knowledge of relevant federal and state laws and regulations pertaining to insurance companies

Considerable knowledge of actuarial principles, standards and methods

Considerable knowledge of statistical methods and computer models as they relate to insurance rates and rating procedures

Knowledge of the operation of relevant insurance programs

Knowledge of the methods used by other states in the regulation of insurance companies

Knowledge of relevant insurance coverages, rates, rating plans and special programs

Knowledge of insurance company financial statements

Considerable interpersonal skills

Considerable oral and written communication skills

Supervisory ability

Preferred

Experience managing projects with deadlines

Experience with Health reserving techniques and actuarial standards of practice

Familiar with office working environment

Designation of Fellow of the Society of Actuaries (FSA), Fellow of the Casualty Actuarial Society or Member of the American Academy of Actuaries (MAAA)