Insurance Actuarial Analyst 3
About The Position
The Ohio Department of Insurance is hiring an Insurance Actuarial Analyst 3 to review Property and Casualty insurance rate filings and help ensure rates comply with actuarial principles and applicable laws and policies. The role includes assessing whether proposed rates are adequate, not excessive, and not unfairly discriminatory; communicating compliance issues to insurers; and approving rates for use in Ohio. The analyst also researches compliance requirements, develops and maintains review tools, analyzes data, and provides direction, training, and peer review for lower-level insurance actuarial analysts. The Ohio Department of Insurance oversees insurance regulation, enforces consumer-protection statutes, educates consumers, and supports stable insurance markets in Ohio. Its mission is to protect consumers through education and fair but vigilant regulation while promoting a stable and competitive environment for insurers.
Requirements
- Complete an undergraduate core program in mathematics.
- Complete three CAS examinations for Property and Casualty Division positions, three SOA examinations for Life and Health Division or Managed Care Division positions, or three CAS or SOA examinations for Financial Regulation Division positions.
- Have four years of experience in an actuarial field pertinent to the assigned division. For Managed Care, experience must be in managed care; for Property and Casualty, in property and casualty; for Life and Health, in life and health; and for Financial Regulation, experience may be of any type.
- Have 24 months of experience operating a personal computer.
Responsibilities
- Analyze complex Property and Casualty insurance rate filings for reasonableness and determine whether rates are adequate, not excessive, and not unfairly discriminatory under sound actuarial principles.
- Ensure rates comply with applicable state and federal laws and policies.
- Notify insurance companies of rate compliance issues and provide necessary information to filers.
- Approve rates for use in Ohio.
- Research and understand relevant compliance requirements.
- Create and maintain compliance review tools and analyze data.
- Provide direction, training, and peer reviews of work completed by lower-level insurance actuarial analysts.
Benefits
- Medical coverage
- Free dental, vision, and basic life insurance premiums after completion of the eligibility period
- Paid time off, including vacation, personal, and sick leave
- 11 paid holidays per year
- Childbirth, adoption, and foster care leave
- Education and development opportunities, including Employee Development Funds and Public Service Loan Forgiveness
- Public retirement systems, including OPERS, STRS, SERS, and HPRS
- Optional deferred compensation through Ohio Deferred Compensation
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
