Insurance Actuarial Analyst 3

Ohio Department of Insurance; Columbus (OH); On-site; USD 118,474,000 - 123,984,000; Full time

Job summary

The Ohio Department of Insurance in Columbus seeks an Insurance Actuarial Analyst 3 to analyze complex Property and Casualty rate filings for reasonableness of rate structure and to ensure compliance with applicable state and federal laws.

You will notify insurance companies of compliance issues, approve rates for use in Ohio, and develop tools to support data analysis. The role includes training and supervising junior analysts and contributing to policy compliance efforts.

Qualifications

• Undergraduate core program in mathematics completed.
• 3 CAS examinations for Property & Casualty Division or 3 SOA examinations for Life & Health/ Managed Care/ Financial Regulation.
• 4 yrs. exp. in actuarial field pertinent to assigned division; 24 mos. exp. in PC literacy or related computer use.

Responsibilities

• Analyze complex Property and Casualty rate filings for reasonableness and compliance with laws.
• Notify insurers of compliance issues and approve rates for use in Ohio.
• Research and understand relevant compliance requirements.
• Create and maintain compliance review tools and provide data analysis.
• Provide direction, training, and peer reviews for lower level actuarial analysts.

Skills

Insurance

Regulatory Compliance

Statistics/Mathematics

Education

Mathematics degree with actuarial exams (CAS/SOA)

Job description

What You’ll Do

Your Key Responsibilities include but are not limited to the following:

• Analyzing complex Property and Casualty Insurance rate filings for reasonableness of rate structure and determine if rates are adequate, not excessive, nor unfairly discriminatory according to sound actuarial principles, while ensuring compliance of rates with applicable state and federal laws and policies;
• Notifying insurance companies of compliance issues with their rates, providing necessary information to the filers, and approving rates for use in Ohio;
• Researching and understanding relevant compliance requirements;
• Creating and maintaining compliance review tools and providing analysis of data; and
• Provide direction, training, and peer reviews of work completed by lower level insurance actuarial analysts.

What’s In It For You

Unless required by legislation or union contract, the final candidate can expect to be paid at the lowest step in the pay range (step 1).As an Insurance Actuarial Analyst 3, you will receive a raise after six (6) months and yearly step increases until you reach the top level of the pay range. There may also be possible cost of living adjustments (COLA) and longevity supplements begin after five (5) years of state service.

At the State of Ohio, we take care of the team that cares for Ohioans. We provide a variety of quality, competitive benefits to eligible full-time and part-time employees. For a list of all the State of Ohio Benefits, visit ourTotal Rewards website!

Completion of undergraduate core program in mathematics; completion of 3 CAS examinations for positions in Property & Casualty Division or 3 SOA examinations for positions in Life & Health Division or Managed Care Division or 3 CAS or 3 SOA examinations for positions in Financial Regulation Division; 4 yrs. exp. in actuarial field pertinent to assigned division (i.e., for positions in Managed Care Division, exp. must be in managed care field; for positions in Property & Casualty Division, exp. must be in property & casualty field; for positions in Life & Health Division, exp. must be in life & health field; for positions in Financial Regulation Division, exp. may be of any type); 24 mos. exp. in operation of personal computer.

Job Skills

Insurance

Technical Skills

• Regulatory Compliance, Insurance, Statistics/Mathematics

Professional Skills

• Analyzation, Critical Thinking, Decision Making

Union

OCSEA

Work Location

50 W Town St

Primary Location

United States of America-OHIO-Franklin County-Columbus

Compensation

41.81

Schedule

Full-time

Classified Indicator

Classified

Agency Overview

The Ohio Department of Insurance (ODI) was established in 1872 as an agency charged with overseeing insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in Ohio.

Today, the mission of the Ohio Department of Insurance is to provide consumer protection through education and fair but vigilant regulation while promoting a stable and competitive environment for insurers.

Please visit our website Department of Insurance and also find us on LinkedIn .