Actuary - Life , Health
About The Position
The mission of the North Carolina Department of Insurance is to promote a stable insurance market through unbiased regulation and to protect the lives and property of every citizen in all 100 counties while fostering superior, user-friendly service, courtesy, and respect. Our agency licenses insurance agents, adjusters, bail bondsmen and more, along with investigating fraud matters involving insurance consumers and any entity or individual regulated by the Department. In an ever-changing environment, it is the vision of the Department of Insurance to maintain the stabilization of the insurance industry in order to provide more products, competitive prices and consumer protection. This position currently qualifies for a hybrid telework option with routine office and remote workday. The NC Department of Insurance trusts our employees to be self-motivated and successful in hybrid/remote roles. Telework options are subject to change at the discretion of management. The North Carolina Department of Insurance's mission is to promote a stable insurance market through unbiased regulation and to protect the lives and property of every citizen in all 100 counties while fostering superior, user-friendly service, courtesy, and respect. North Carolina Department of Insurance offers rewarding careers in a number of different fields that helps us protect consumers and regulate the insurance industry in North Carolina. But that’s not all that we do! NCDOI also investigates insurance fraud. We set standards for and inspect fire stations, regulate engineering codes and work with building inspectors in every corner of North Carolina. If you’re interested in a career that will help make North Carolina a safer and better place to live while working with some of the best professionals in the industry, apply today! Provides technical life and health actuarial support to the Life & Health Division, Financial Evaluation Division. Secondary actuarial support is provided to Life & Health Division, Consumer Services Division, Field Audit Division, and Legal Division of the Insurance Department under the limited supervision of the Chief Actuary for the Insurance Department. This position will assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, or disability. Positions are responsible for providing consultation and professional recommendations to various divisions within an agency or department. The range of duties includes, but is not limited to, reviewing data/information and making recommendations concerning rate, rule and policy form filings; reviewing Statements of Actuarial Opinion and advising of any deficiencies; participating in rate hearings including expert witness testimony as required; conducting surveys or data calls of insurers; providing consultation and recommendations concerning proposed legislation, new insurers, and consumer-related issues; support rate setting, financial budgeting and forecasting, clinical policy and aid in the design of benefit structures, reimbursement standards and the effects of proposed practices and standards on the cost of healthcare. Positions may perform additional duties as assigned by supervisor.
Requirements
- Considerable level of professional knowledge in Life and Health and keeps up with current developments and trends.
- Maintains professional credentials through meeting continuing education requirements of the American Academy of Actuaries (AAA) and the Society of Actuaries (SOA)
- Considerable knowledge of North Carolina laws and regulations as they relate to actuarial practice
- Ability to prepare written reports that are clear, concise, appropriate for intended audience and well documented
- Possession of an ASA or an FSA
- Bachelor's degree in actuarial science, statistics, mathematics, business, or closely related field from an appropriately accredited institution and four years of professional actuarial experience and Associate status in the Society of Actuaries (SOA); or an equivalent combination of education and experience.
- Please attach copy of the applicant's transcript
Responsibilities
- Provides technical life and health actuarial support to the Life & Health Division, Financial Evaluation Division.
- Secondary actuarial support is provided to Life & Health Division, Consumer Services Division, Field Audit Division, and Legal Division of the Insurance Department under the limited supervision of the Chief Actuary for the Insurance Department.
- Assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, or disability.
- Positions are responsible for providing consultation and professional recommendations to various divisions within an agency or department.
- Reviewing data/information and making recommendations concerning rate, rule and policy form filings
- Reviewing Statements of Actuarial Opinion and advising of any deficiencies
- Participating in rate hearings including expert witness testimony as required
- Conducting surveys or data calls of insurers
- Providing consultation and recommendations concerning proposed legislation, new insurers, and consumer-related issues
- Support rate setting, financial budgeting and forecasting, clinical policy and aid in the design of benefit structures, reimbursement standards and the effects of proposed practices and standards on the cost of healthcare.
- Positions may perform additional duties as assigned by supervisor.
Benefits
- 12 Annual paid Holidays
- North Carolina State Health Plan administered by AETNA
- Supplemental Benefits including: Flexible Spending Accounts, Accident Insurance, Cancer & Specified Disease, Critical Illness, Dental and Vision
- NC State Retirement (TSERS)
- WeSave Employee Discounts
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
1,001-5,000 employees
