Are you an Insurance Actuary looking for a new role to showcase your skills?
If so, we encourage you to read below & apply today!
AS AN ACTUARY WE CAN OFFER YOU:
- Industry leading health benefits, including medical and dental coverage
- Competitive starting salary and structure
- Extensive pension plan and supplemental retirement offerings
- Paid time off - including 13 paid holidays per calendar year
- Professional growth and development opportunities
- Culture that encourages work-life balance
- Full-time (40 hours/week)
- 1st Shift
- Hybrid telework schedules available
- Centrally located in Hartford, CT with easy access to all major highways
WHO ARE WE: Our mission is to protect the health and financial security of Connecticut residents by providing oversight, consumer protection, and administrative services for the insurance and healthcare industries. CID works to ensure that insurers are operating fairly and openly, and protects consumers from unfair or deceptive practices.
Watch the video below to see what it's like to be a State of CT employee!
- In order to be considered for this job opening, you must meet the Minimum Qualifications as listed on this 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.
- Ensure that your application is complete and detailed before submitting it. In order to comply with Public Act 21-69, the State of Connecticut is no longer asking for resumes during the initial application process. You will not be able to make revisions once your application is submitted into the JobAps system.
- Please select all location(s) and shift(s) you are willing to work on your application. Failure to do so may result in not being considered for vacancies in that specific location or shift.
- All application materials must be received by the recruiting agency by the time specified on the job opening for the position for which you are applying. Late applications may not be submitted and will not be considered. Exceptions are rare and limited to documented events that incapacitate a candidate during the entire duration of the job posting time period. It is the candidate’s obligation and responsibility to request an exception and provide a legally recognized justification to accommodate such exception. Requests should be made to DAS.SHRM@ct.gov.
For Assistance In Applying:
Important Information After You Apply:
- 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 questionnaire'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.
- Although applicants will receive correspondence via email, as a backup they are also encouraged to sign on to their Personal Status Board on a daily basis to monitor their status, view all emailed notices and complete tasks required in the recruitment process.
- 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.
- 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.
- Candidates who are offered and accept a position with the State of Connecticut are bound by the State Code of Ethics for Public Officials and State Employees which is available at www.ct.gov/ethics.
Connect With Us:
- 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 pertaining to this recruitment, please contact email@example.com.
- Follow the State of Connecticut on LinkedIn.
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.
- Experience in Property and Casualty in actuarial pricing functions.
- Experience with pricing and Reserving techniques of the actuarial standards of practice.
- Experience with Property and Casualty insurance products.
- Experience in reviewing rate filings or supporting actuarial rate-making functions.
- Designation of Fellow of the Casualty Actuarial Society or Member of the American Academy of Actuaries (MAAA).
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.
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.