STATE OF CONNECTICUT EXECUTIVE BRANCH JOBS

Insurance Actuary

Recruitment #211008-0051AR-001

Introduction

Who We Are
Our mission at the State of Connecticut, Connecticut Insurance Department (CID) is consumer protection. The Department carries out its mission by enforcing state insurance laws to ensure policy holders are treated fairly, by providing assistance, outreach and education to help consumers make sound choices and by regulating the industry in a fair and consistent manner that fosters market competition for availability of insurance.

The Position
The CID is currently recruiting for an Insurance Actuary position for the Actuarial Insurance Division. We are located at 153 Market Street in Downtown Hartford, easily accessible for all commuters. This position is full-time, 40 hours a week, Monday - Friday.

What We Offer
There are many reasons to make an impact by serving your state including limitless opportunities, and our emphasis on diversity and new perspectives, meaningful work, and healthy work/life balance.

We also offer leading comprehensive benefits including a competitive salary structure, excellent health & dental coverage, generous vacation, personal, and sick time, retirement plan options & more!

Selection Plan

All State employees shall follow the guidelines as listed in Executive Orders 13F (3a) and 13G (3a).

To Apply:
In order to be considered for this job opening, you must meet the Minimum Qualifications as listed on the job opening. You must specify your qualifications on your application. The minimum experience and training requirements must be met by the close date on the job opening, unless otherwise specified.

Please select the location(s) listed above on your application. Failure to indicate the location(s) listed above may result in not being considered for vacancies in that specific location. Ensure that your application is complete before submitting it. You will not be able to make revisions once your application is submitted into the JobAps system. 

This posting may require completion of additional referral questions (RQs). You can access these RQs via an email that will be sent to you after the posting's closing date or by visiting your JobAps Personal Status Board (Certification Questionnaires section). Your responses to these RQs must be submitted by the question's expiration date. Please regularly check your email and JobAps Personal Status Board for notifications. Please check your SPAM and/or Junk folders on a daily basis in the event an email provider places auto-notification emails in a user's spam. 

Note: At any point during the recruitment process, applicants may be required to submit additional documentation which support their qualification(s) for this position. These documents may include:  a cover letter, resume, performance reviews, attendance records, supervisory references, licensure, etc., at the discretion of the hiring agency.  Applicants must meet the minimum qualifications as indicated to apply for this position.

Interviews will be limited to candidates whose experience and training most closely meet the requirements of the position. The immediate vacancy is listed above, however, applications to this recruitment may be used for future vacancies in this job class.

The immediate vacancy is listed above, however, applications to this recruitment may be used for future vacancies in this job class.

Due to the large volume of applications received, we are unable to provide confirmation of receipt or status during the recruitment process Updates will be available through your JobAps portal account.

Should you have any questions about this recruitment please contact raisa.capellan@ct.gov.

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Department of Insurance, this class is accountable for directing and/ or conducting actuarial work involving casualty or life and health insurance, and conducting research and special studies.

EXAMPLES OF DUTIES

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; may review an insurer's loss experience; 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; may act on behalf of the Commissioner at technical and professional conferences; performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

Considerable knowledge of the 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.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Ten (10) 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.

MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE

Two (2) years of the General Experience must have included experience setting insurance rates and/or reserves for insurance companies or health care centers.

MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED

1. College training in mathematics or statistics may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years.
2. A Master's degree in Mathematics or Statistics may be substituted for one (1) additional year of the General Experience.

PREFERRED QUALIFICATIONS

A preferred candidate will possess:
  • Experience collaborating with company actuaries responsible for the actuarial opinions and reports submitted for review;
  • Experience presenting regulatory positions and determinations to insurance company representatives, department staff and the Office of Insurance Commissioner; 
  • Experience managing projects with moving deadlines; 
  • Experience with reserving techniques and actuarial standards of practice; 
  • Experience with Excel, Word and Outlook; 
  • Designation of Fellow of the Society of Actuaries (FSA) and Member of the American Academy of Actuaries (MAAA). 

SPECIAL REQUIREMENTS

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.

Conclusion

AN AFFIRMATIVE ACTION/EQUAL OPPORTUNITY EMPLOYER

The State of Connecticut is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.