STATE OF CONNECTICUT EXECUTIVE BRANCH JOBS

Insurance Actuary Supervisor

Hybrid

Recruitment #240418-4985AR-001

Introduction


Are you a current employee of the Connecticut Insurance Department looking for the next step in your career? 

If so we encourage you to read below and apply!


The Connecticut Insurance Department (CIDis now accepting applications for an Insurance Actuary Supervisor (Property & Casualty) within the Actuarial Division in Hartford, CT. 


CONTINUE TO ENJOY:

  • Competitive salary.
  • Industry leading health benefits, including medical and dental coverage.
  • Extensive pension plan and supplemental retirement offerings.
  • Paid time off including 13 paid holidays per calendar year.
  • Learn more about what sets us apart as an employer with our Employer Value Proposition.
  • A culture that encourages work/life balance.
  • Professional growth and development opportunities.
  • Ample free parking with easy access from major highways or by public transportation.
  • Tuition reimbursement.
  • Work for a Forbes top company: State of Connecticut Ranked One of the Best Employers of 2023 -  State of CT receives National Recognition for offering Job Growth, Competitive Benefits and Flexible Schedule.
  • State of Connecticut is an eligible Public Service Loan Forgiveness employer, meaning you may be eligible to have qualifying student loans forgiven after 10 years of service.  Click here for more information.
POSITION HIGHLIGHTS

  • Full Time, 40 hours per week
  • Monday through Friday
  • First shift, 8:00 am to 4:30 pm
  • Hybrid role (combination of in-office/telework)
  • We are located at 153 Market Street in Downtown Hartford, easily accessible for all commuters. 

    THE ROLE
    The Insurance Actuary Supervisor will supervise approximately three (3) staff members, made up of Insurance Actuaries and Insurance Actuary Associates. This will include supervising the performances of the insurance actuaries, providing guidance in actuarial services and peer review the actuaries’ finished projects.

    Our ideal candidate will:
    • Have familiarity with the financial solvency and rate/rule filings actuarial services experiences, FCAS actuarial credential qualifications, and familiar with the CID operations.
    • Effectively manage the Property & Casualty actuarial work at CID in regulating insurance companies.  For example, 30 days turn-around time in reviewing all the rate filing (more than 150 filings for P&C).
    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 policyholders 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 the availability of insurance.

    Selection Plan

    In order to be considered for this job opening you must be a current State of CT employee of the agency listed above for at least six (6) months of full-time service or full-time equivalent service, absent any applicable collective bargaining language, and meet the Minimum Qualifications as listed on the job opening.  You must specify your qualifications on your application. 


    For current state employees, salary calculations are not necessarily comparable from one of the three branches of state government (i.e. Executive, Legislative, Judicial) to the other. 

    To Apply:


    • 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.
    • In order to receive educational credits toward qualification for this job posting, the institution must be accredited. If the institution of higher learning is located outside of the U.S., you are responsible for providing documentation from a recognized USA accrediting service which specializes in determining foreign education equivalencies to the recruiter listed on this job posting.

    • 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:

    • Please read or watch our Applicant Tips on How to Apply!

    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.
    • Read through this helpful link to prepare for your interview.

    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 Jasmyn.Raymond@ct.gov
    • Follow the State of Connecticut on LinkedIn.

    PURPOSE OF JOB CLASS (NATURE OF WORK)

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

    EXAMPLES OF DUTIES

    • Schedules, assigns, oversees and reviews work of staff;
    • Provides staff training and assistance;
    • Conducts performance evaluations;
    • Determines priorities of unit work;
    • Establishes and maintains unit procedures;
    • Develops or makes recommendations on development of policies and standards;
    • Acts as liaison with other operating units, agencies, and outside officials regarding unit policies and procedures;
    • Prepares reports and correspondence;
    • Reviews and conducts analytical studies of insurance rate filings, rating plans, and various special programs and recommends action; 
    • 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; 
    • Participates in Department hearings; 
    • Reviews and conducts insurance company’s loss and loss adjustment incurred but not reported reserves and insurance valuations; 
    • Conducts reviews of fields exams regarding actuarial subjects in pricing and reserving; 
    • Participates in committees; 
    • Supervises the handling of complaints and inquiries concerning rates and related matters; 
    • Performs related duties as required.

    KNOWLEDGE, SKILL AND ABILITY

    • Considerable knowledge of
      • relevant federal and state laws and regulations pertaining to insurance companies; 
      • actuarial principles, standards and methods; 
      • statistical methods and computer models as they relate to insurance rates and rating procedures; 
    • Knowledge of
      • the operation of relevant insurance programs; 
      • the methods used by other states in the regulation of insurance companies; 
      • relevant insurance coverages, rates, rating plans and special programs; 
      • insurance company financial statements; 
    • Considerable
      • interpersonal skills; 
      • oral and written communication skills; 
    • Supervisory ability.

    MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

    Nine (9) 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

    • College training in mathematics, actuarial sciences, statistics or a related field 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.
    • A Master’s degree in mathematics, actuarial sciences, statistics or a related field may be substituted for one (1) additional year of the General Experience.

    PREFERRED QUALIFICATIONS

    • Actuarial experience in both financial solvency regulations and rate filings
    • Fellow of the Casualty Actuarial Society (FCAS) credential for the property & casualty insurance
    • Experience with Insurance regulation practices
    • Experience with leading and supervising staff                  

    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.

    ACKNOWLEDGEMENT

    As defined by Sec. 5-196 of the Connecticut General Statutes, a job class is a position or group of positions that share general characteristics and are categorized under a single title for administrative purposes. As such, a job class is not meant to be all-inclusive of every task and/or responsibility.