Actuary – Property & Casualty (New ACAs/ACAs))
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. Salary Recruitment Range: $80,636 - $101,500 Salary Grade: NC25 This is a repost, previous applicants need not reapply. The posting will close at 11:59 p.m. the night before the closing date. This position is open to both ACAS and Near-ACAS candidates. Near-ACAS applicants (with 4 exams and 2 years of experience) may be eligible for our Actuarial Program. For additional information regarding trainee status, please visit: https://oshr.nc.gov/hr-governance/policies/appointment-types-and-career-status This position currently qualifies for a hybrid telework option with routine office and up to one remote workday per week. 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. Primary Purpose of the Position: Positions in this class assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as liability, loss of property, or loss of use of property. Positions are responsible for providing consultation and professional recommendations to various divisions within the 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. Positions may perform additional duties as assigned by supervisor.
Requirements
- Bachelor's degree in actuarial science, mathematics, statistics, business, or a closely related field from an appropriately accredited institution and four years of professional actuarial experience and Associate status in the Casualty Actuarial Society (CAS), or an equivalent combination of education and experience.
- Bachelor's degree in actuarial science, mathematics, statistics, business, or a closely related field from an appropriately accredited institution, and two years of professional actuarial experience.
- Associate status in the Casualty Actuarial Society (CAS) is expected (but not required) within two years.
- To be considered for the Actuarial Program, candidate must have passed at least 4 CAS exams and have 2 years of professional actuarial experience.
- Considerable knowledge of North Carolina laws and regulations as they relate to actuarial practice.
- Considerable knowledge of agency policies and practices in regard to issues arising in rate revision negotiations or rate hearings.
- Ability to effectively communicate complex information verbally and in writing; keeps coworkers and managers informed of project progress.
Nice To Haves
- Actively pursuing or have obtained credentials with the Casualty Actuarial Society (CAS) and the American Academy of Actuaries (AAA).
- Must have passed at least 4 CAS exams.
Responsibilities
- Assembling and analyzing data to estimate the probability and likely cost of the occurrence of an event such as liability, loss of property, or loss of use of property.
- Providing consultation and professional recommendations to various divisions within the 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.
- Performing 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
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
