Insurance Actuarial Analyst 3

State of Ohio; Columbus (OH); On-site; USD 87,000 - 90,000; Full time

Benefits offered by this job

Medical Coverage

Dental & Vision

Paid time off

Education opportunities

Job summary

The Ohio Department of Insurance is seeking an Insurance Actuarial Analyst 3 in Columbus. This role analyzes complex rate filings for reasonableness and compliance while ensuring adherence to state and federal laws and policies.

You will notify filers of issues and approve rates for Ohio use. The position involves researching regulatory requirements, developing and maintaining compliance tools, and providing guidance and peer reviews to junior analysts.

Qualifications

• Completion of undergraduate core program in mathematics.
• 3 CAS examinations for Property & Casualty or 3 SOA exams for Life & Health or 3 CAS or 3 SOA for Financial Regulation.
• 4 years of actuarial experience in fields matching the division requirements.
• 24 months of PC usage or related computer experience.

Responsibilities

• Analyze complex Property and Casualty insurance rate filings for reasonableness and compliance with laws and policies.
• 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 analysts.

Skills

Insurance

Regulatory Compliance

Statistics/Mathematics

Analyzation

Critical Thinking

Decision Making

Education

Undergraduate math program

Job description

Job Description - Insurance Actuarial Analyst 3 (260006SH)

Insurance Actuarial Analyst 3 ( 260006SH )

Organization

Insurance

Work Location

50 W Town St 50 West Town Street Suite 300 Columbus 43215

Primary Location

United States of America-OHIO-Franklin County-Columbus

Compensation : 41.81

Schedule

Full-time

Work Hours : 40

Union : OCSEA

Primary Job Skill

Insurance

Technical Skills : Regulatory Compliance, Insurance, Statistics/Mathematics

Professional Skills : Analyzation, Critical Thinking, Decision Making

Ohio Department of Insurance 255 subscribers

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.

What You’ll Do

• Analyzing complex Property and Casualty I nsurance 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 our Total Rewards website !

Benefits Package

• Medical Coverage
• Free Dental, Vision and Basic Life Insurance premiums after completion of eligibility period
• Paid time off, including vacation, personal, sick leave and 11 paid holidays per year
• Childbirth, Adoption, and Foster Care leave
• Education and Development Opportunities (Employee Development Funds, Public Service Loan Forgiveness, and more)

Qualifications

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